Segment Information (Tables)

Financial information for the Company’s reportable segments is presented in the following table:


	Investor Services									Institutional Services									Unallocated								Total
Year Ended December 31,	2012			2011			2010			2012			2011			2010			2012		2011			2010			2012			2011			2010
Net Revenues
Asset management and administration fees	$	1,109		$	1,053		$	976		$	934		$	875		$	846		$	—	$	—		$	—		$	2,043		$	1,928		$	1,822
Net interest revenue		1,479			1,468			1,297			285			257			227			—		—			—			1,764			1,725			1,524
Trading revenue		574			625			557			293			302			273			1		—			—			868			927			830
Other – net ⁽¹⁾		108			85			70			77			75			65			71		—			—			256			160			135
Provision for loan losses		(14	)		(15	)		(23	)		(2	)		(3	)		(4	)		—		—			—			(16	)		(18	)		(27	)
Net impairment losses on securities		(28	)		(27	)		(32	)		(4	)		(4	)		(4	)		—		—			—			(32	)		(31	)		(36	)

Total net revenues		3,228			3,189			2,845			1,583			1,502			1,403			72		—			—			4,883			4,691			4,248

Expenses Excluding Interest ⁽²⁾		2,363			2,261			2,065			1,069			1,039			960			1		(1	)		444			3,433			3,299			3,469

Income before taxes on income	$	865		$	928		$	780		$	514		$	463		$	443		$	71	$	1		$	(444	)	$	1,450		$	1,392		$	779

Taxes on income																												522			528			325

Net Income																											$	928		$	864		$	454

Capital expenditures	$	91		$	120		$	91		$	47		$	70		$	36		$	—	$	—		$	—		$	138		$	190		$	127
Depreciation and amortization	$	148		$	108		$	93		$	48		$	47		$	52		$	—	$	—		$	1		$	196		$	155		$	146

⁽¹⁾	Unallocated amount includes a pre-tax gain of $70 million relating to a confidential resolution of a vendor dispute in 2012.

⁽²⁾	Unallocated amount primarily includes class action litigation and regulatory reserves of $320 million and money market mutual fund charges of $132 million in 2010.

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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