Note 13. Operating Segments
| X |
- Definition
This element may be used to capture the complete disclosure of reporting segments including data and tables. Reportable segments include those that that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10% or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 131
+ Details
| Name: |
us-gaap_SegmentReportingDisclosureTextBlock |
| Namespace Prefix: |
us-gaap |
| Data Type: |
string |
| Balance Type: |
na |
| Period Type: |
duration |
|
|
NOTE
13. Operating Segments
BB&T’s
operations are divided into seven reportable business
segments: the Banking Network, Residential Mortgage
Banking, Sales Finance, Specialized Lending, Insurance
Services, Financial Services and Treasury. These operating
segments have been identified based on BB&T’s
organizational structure. The segments require unique
technology and marketing strategies and offer different
products and services. While BB&T is managed as an
integrated organization, individual executive managers are
held accountable for the operations of these business
segments.
BB&T
emphasizes revenue growth by focusing on client service,
sales effectiveness and relationship management. The
segment results contained herein are presented based on
internal management accounting policies that were designed
to support these strategic objectives. Unlike financial
accounting, there is no comprehensive authoritative body of
guidance for management accounting equivalent to generally
accepted accounting principles. The performance of the
segments is not comparable with BB&T’s consolidated
results or with similar information presented by any other
financial institution. Additionally, because of the
interrelationships of the various segments, the information
presented is not indicative of how the segments would
perform if they operated as independent entities.
During the
second quarter of 2009, BB&T recalibrated its
allocation of the economic provision for credit losses
given the continued deterioration in 2009. This change was
retroactively applied to January 2009 and resulted in a
reduction in provision expense in the Parent/Reconciling
segment and additional provision expense allocated to the
individual business units for the first quarter of 2009.
The change in allocation primarily impacted the Banking
Network, Residential Mortgage Banking and Sales Finance
segments, which were allocated additional provision expense
of approximately $141 million, $27 million and $9 million,
respectively, related to the first quarter of 2009. As
previously discussed in the Annual Report on Form 10-K for
the year ended December 31, 2008, the 2008 economic
provision for loan and lease losses was adjusted early in
the first quarter of 2009.
In
addition, management changed the way it views certain
transactions that had been unallocated to the business
units. This primarily related to securities gains and
losses. These amounts were previously reported within the
Parent/Reconciling segment, but have been retroactively
applied to the Treasury segment.
Please
refer to BB&T’s Annual Report on Form 10-K for the year
ended December 31, 2008 for a description of internal
accounting policies and the basis of segmentation,
including a description of the segments presented in the
accompanying tables.
The
following tables disclose selected financial information
with respect to BB&T’s reportable business segments for
the periods indicated:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BB&T Corporation
|
|
Reportable Segments
|
|
For the Three Months Ended June 30,
2009 and 2008
|
|
|
|
|
|
|
|
|
Residential
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Banking Network
|
|
Mortgage Banking
|
|
|
Sales Finance
|
|
|
Specialized Lending
|
|
|
Insurance Services
|
|
|
|
|
2009
|
2008
|
|
2009
|
|
|
2008
|
|
|
2009
|
|
|
2008
|
|
|
2009
|
|
|
2008
|
|
|
2009
|
|
2008
|
|
|
|
|
|
(Dollars in millions)
|
|
|
|
Net interest income
(expense)
|
|
$
|
433
|
$
|
527
|
$
|
277
|
|
$
|
290
|
|
$
|
101
|
|
$
|
99
|
|
$
|
204
|
|
|
$
|
176
|
|
$
|
1
|
|
$
|
3
|
|
|
Net funds
transfer pricing (FTP)
|
|
|
474
|
|
265
|
|
(182
|
)
|
|
(209
|
)
|
|
(71
|
)
|
|
(68
|
)
|
|
(54
|
)
|
|
|
(50
|
)
|
|
-
|
|
|
(2
|
)
|
|
Net interest income (expense) and
FTP
|
|
|
907
|
|
792
|
|
95
|
|
|
81
|
|
|
30
|
|
|
31
|
|
|
150
|
|
|
|
126
|
|
|
1
|
|
|
1
|
|
|
Economic provision for loan and
lease losses
|
|
|
513
|
|
183
|
|
85
|
|
|
30
|
|
|
33
|
|
|
9
|
|
|
56
|
|
|
|
74
|
|
|
-
|
|
|
-
|
|
|
Noninterest
income
|
|
|
314
|
|
312
|
|
170
|
|
|
43
|
|
|
1
|
|
|
1
|
|
|
32
|
|
|
|
28
|
|
|
277
|
|
|
232
|
|
|
Intersegment
net referral fees (expense)
|
|
|
148
|
|
73
|
|
(44
|
)
|
|
(27
|
)
|
|
(4
|
)
|
|
(4
|
)
|
|
-
|
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
Noninterest
expense
|
|
|
463
|
|
387
|
|
32
|
|
|
21
|
|
|
9
|
|
|
6
|
|
|
70
|
|
|
|
61
|
|
|
201
|
|
|
174
|
|
|
Allocated
corporate expenses
|
|
|
175
|
|
175
|
|
2
|
|
|
2
|
|
|
3
|
|
|
3
|
|
|
10
|
|
|
|
8
|
|
|
12
|
|
|
10
|
|
|
Income (loss) before income
taxes
|
|
|
218
|
|
432
|
|
102
|
|
|
44
|
|
|
(18
|
)
|
|
10
|
|
|
46
|
|
|
|
11
|
|
|
65
|
|
|
49
|
|
|
Provision
(benefit) for income taxes
|
|
|
78
|
|
155
|
|
37
|
|
|
16
|
|
|
(7
|
)
|
|
4
|
|
|
17
|
|
|
|
5
|
|
|
25
|
|
|
19
|
|
|
Segment net income
(loss)
|
|
$
|
140
|
$
|
277
|
$
|
65
|
|
$
|
28
|
|
$
|
(11
|
)
|
$
|
6
|
|
$
|
29
|
|
|
$
|
6
|
|
$
|
40
|
|
$
|
30
|
|
|
Identifiable segment assets (period
end)
|
|
$
|
63,391
|
$
|
62,822
|
$
|
20,554
|
|
$
|
19,217
|
|
$
|
6,359
|
|
$
|
6,045
|
|
$
|
8,020
|
|
|
$
|
5,891
|
|
$
|
1,288
|
|
$
|
1,292
|
|
|
|
|
|
|
|
|
|
|
|
|
Financial Services
|
|
Treasury
|
|
All Other Segments (1)
|
Parent/Reconciling Items
|
Total BB&T
Corporation
|
|
|
|
2009
|
2008
|
|
2009
|
|
|
2008
|
|
|
2009
|
|
|
2008
|
|
|
2009
|
|
|
2008
|
|
|
2009
|
|
2008
|
|
|
|
|
(Dollars in millions)
|
|
|
|
Net interest income
(expense)
|
|
$
|
5
|
$
|
12
|
$
|
178
|
|
$
|
71
|
|
$
|
38
|
|
$
|
40
|
|
$
|
(99
|
)
|
|
$
|
(150
|
)
|
$
|
1,138
|
|
$
|
1,068
|
|
|
Net funds
transfer pricing (FTP)
|
|
|
34
|
|
2
|
|
(212
|
)
|
|
24
|
|
|
(46
|
)
|
|
(43
|
)
|
|
57
|
|
|
|
81
|
|
|
-
|
|
|
-
|
|
|
Net interest income (expense) and
FTP
|
|
|
39
|
|
14
|
|
(34
|
)
|
|
95
|
|
|
(8
|
)
|
|
(3
|
)
|
|
(42
|
)
|
|
|
(69
|
)
|
|
1,138
|
|
1,068
|
|
|
Economic provision for loan and
lease losses
|
|
|
7
|
|
2
|
|
-
|
|
|
-
|
|
|
2
|
|
|
2
|
|
|
5
|
|
|
|
30
|
|
|
701
|
|
|
330
|
|
|
Noninterest
income
|
|
|
164
|
|
163
|
|
47
|
|
|
35
|
|
|
10
|
|
|
3
|
|
|
(22
|
)
|
|
|
10
|
|
|
993
|
|
|
827
|
|
|
Intersegment
net referral fees (expense)
|
|
|
10
|
|
6
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
(110
|
)
|
|
|
(48
|
)
|
|
-
|
|
|
-
|
|
|
Noninterest
expense
|
|
|
137
|
|
134
|
|
(4
|
)
|
|
(32
|
)
|
|
17
|
|
|
21
|
|
|
256
|
|
|
|
187
|
|
|
1,181
|
|
|
959
|
|
|
Allocated
corporate expenses
|
|
|
6
|
|
9
|
|
1
|
|
|
-
|
|
|
(1
|
)
|
|
(1
|
)
|
|
(208
|
)
|
|
(206
|
)
|
|
-
|
|
|
-
|
|
|
Income (loss) before income
taxes
|
|
|
63
|
|
38
|
|
16
|
|
|
162
|
|
|
(16
|
)
|
|
(22
|
)
|
|
(227
|
)
|
|
(118
|
)
|
|
249
|
|
|
606
|
|
|
Provision
(benefit) for income taxes
|
|
|
23
|
|
14
|
|
(10
|
)
|
|
46
|
|
|
(16
|
)
|
|
(15
|
)
|
|
(106
|
)
|
|
|
(69
|
)
|
|
41
|
|
|
175
|
|
|
Segment net income
(loss)
|
|
$
|
40
|
$
|
24
|
$
|
26
|
|
$
|
116
|
|
$
|
-
|
|
$
|
(7
|
)
|
$
|
(121
|
)
|
|
$
|
(49
|
)
|
$
|
208
|
|
$
|
431
|
|
|
Identifiable segment assets (period
end)
|
|
$
|
2,936
|
$
|
2,490
|
$
|
35,839
|
|
$
|
25,399
|
|
$
|
5,090
|
|
$
|
4,444
|
|
$
|
8,921
|
|
|
$
|
8,865
|
|
$
|
152,398
|
|
$
|
136,465
|
|
(1)
Includes
financial data
from subsidiaries below the quantitative and qualitative thresholds requiring disclosure.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BB&T
Corporation
|
|
Reportable
Segments
|
|
For the Six
Months Ended June 30, 2009 and 2008
|
|
|
|
|
|
|
|
|
Residential
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Banking Network
|
|
Mortgage
Banking
|
|
|
Sales
Finance
|
|
|
Specialized Lending
|
|
Insurance
Services
|
|
|
|
2009
|
2008
|
|
2009
|
|
|
2008
|
|
|
2009
|
|
|
2008
|
|
|
2009
|
|
|
2008
|
|
|
2009
|
|
2008
|
|
|
|
|
(Dollars in
millions)
|
|
|
|
|
Net interest
income (expense)
|
|
$
|
850
|
$
|
1,060
|
$
|
560
|
|
$
|
573
|
|
$
|
201
|
|
$
|
196
|
|
$
|
398
|
|
$
|
349
|
|
$
|
3
|
|
$
|
7
|
|
|
Net
funds transfer pricing (FTP)
|
|
|
916
|
|
518
|
|
(378
|
)
|
|
(421
|
)
|
|
(142
|
)
|
|
(136
|
)
|
|
(111
|
)
|
|
(104
|
)
|
|
-
|
|
|
(3
|
)
|
|
Net interest
income (expense) and FTP
|
|
1,766
|
|
1,578
|
|
182
|
|
|
152
|
|
|
59
|
|
|
60
|
|
|
287
|
|
|
245
|
|
|
3
|
|
|
4
|
|
|
Economic
provision for loan and lease
losses
|
|
|
868
|
|
293
|
|
149
|
|
|
48
|
|
|
56
|
|
|
14
|
|
|
154
|
|
|
154
|
|
|
-
|
|
|
-
|
|
|
Noninterest
income
|
|
|
606
|
|
599
|
|
344
|
|
|
91
|
|
|
1
|
|
|
1
|
|
|
62
|
|
|
59
|
|
|
523
|
|
|
435
|
|
|
Intersegment net referral fees
(expense)
|
|
|
267
|
|
142
|
|
(79
|
)
|
|
(52
|
)
|
|
(7
|
)
|
|
(7
|
)
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
Noninterest
expense
|
|
|
882
|
|
761
|
|
55
|
|
|
38
|
|
|
15
|
|
|
12
|
|
|
139
|
|
|
119
|
|
|
393
|
|
|
339
|
|
|
Allocated corporate expenses
|
|
|
349
|
|
349
|
|
5
|
|
|
5
|
|
|
6
|
|
|
6
|
|
|
20
|
|
|
17
|
|
|
24
|
|
|
20
|
|
|
Income
(loss) before income taxes
|
|
|
540
|
|
916
|
|
238
|
|
|
100
|
|
|
(24
|
)
|
|
22
|
|
|
36
|
|
|
14
|
|
|
109
|
|
|
80
|
|
|
Provision (benefit) for income
taxes
|
|
|
193
|
|
328
|
|
86
|
|
|
36
|
|
|
(9
|
)
|
|
8
|
|
|
13
|
|
|
6
|
|
|
42
|
|
|
31
|
|
|
Segment net
income (loss)
|
|
$
|
347
|
$
|
588
|
$
|
152
|
|
$
|
64
|
|
$
|
(15
|
)
|
$
|
14
|
|
$
|
23
|
|
$
|
8
|
|
$
|
67
|
|
$
|
49
|
|
|
Identifiable
segment assets (period end)
|
|
$
|
63,391
|
$
|
62,822
|
$
|
20,554
|
|
$
|
19,217
|
|
$
|
6,359
|
|
$
|
6,045
|
|
$
|
8,020
|
|
$
|
5,891
|
|
$
|
1,288
|
|
$
|
1,292
|
|
|
|
|
|
|
|
|
|
|
|
|
Financial
Services
|
|
Treasury
|
|
All Other
Segments (1)
|
Parent/Reconciling Items
|
Total
BB&T Corporation
|
|
|
|
2009
|
2008
|
|
2009
|
|
|
2008
|
|
|
2009
|
|
|
2008
|
|
|
2009
|
|
|
2008
|
|
|
2009
|
|
2008
|
|
|
|
|
(Dollars in
millions)
|
|
|
|
|
Net interest
income (expense)
|
|
$
|
9
|
$
|
25
|
$
|
381
|
|
$
|
94
|
|
$
|
75
|
|
$
|
84
|
|
$
|
(193
|
)
|
$
|
(303
|
)
|
$
|
2,284
|
|
$
|
2,085
|
|
|
Net
funds transfer pricing (FTP)
|
|
|
61
|
|
8
|
|
(372
|
)
|
|
45
|
|
|
(91
|
)
|
|
(86
|
)
|
|
117
|
|
|
179
|
|
|
-
|
|
|
-
|
|
|
Net interest
income (expense) and FTP
|
|
|
70
|
|
33
|
|
9
|
|
|
139
|
|
|
(16
|
)
|
|
(2
|
)
|
|
(76
|
)
|
|
(124
|
)
|
|
2,284
|
|
2,085
|
|
|
Economic
provision for loan and lease
losses
|
|
|
11
|
|
3
|
|
-
|
|
|
-
|
|
|
5
|
|
|
3
|
|
|
134
|
|
|
38
|
|
|
1,377
|
|
|
553
|
|
|
Noninterest
income
|
|
|
315
|
|
319
|
|
252
|
|
|
95
|
|
|
21
|
|
|
12
|
|
|
(100
|
)
|
|
(13
|
)
|
|
2,024
|
|
1,598
|
|
|
Intersegment net referral fees
(expense)
|
|
|
18
|
|
10
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
(199
|
)
|
|
(93
|
)
|
|
-
|
|
|
-
|
|
|
Noninterest
expense
|
|
|
269
|
|
270
|
|
(3
|
)
|
|
(29
|
)
|
|
40
|
|
|
37
|
|
|
460
|
|
|
347
|
|
|
2,250
|
|
1,894
|
|
|
Allocated corporate expenses
|
|
|
12
|
|
19
|
|
2
|
|
|
1
|
|
|
-
|
|
|
-
|
|
|
(418
|
)
|
|
(417
|
)
|
|
-
|
|
|
-
|
|
|
Income
(loss) before income taxes
|
|
|
111
|
|
70
|
|
262
|
|
|
262
|
|
|
(40
|
)
|
|
(30
|
)
|
|
(551
|
)
|
|
(198
|
)
|
|
681
|
|
1,236
|
|
|
Provision (benefit) for income
taxes
|
|
|
41
|
|
25
|
|
63
|
|
|
76
|
|
|
(33
|
)
|
|
(23
|
)
|
|
(241
|
)
|
|
(111
|
)
|
|
155
|
|
|
376
|
|
|
Segment net
income (loss)
|
|
$
|
70
|
$
|
45
|
$
|
199
|
|
$
|
186
|
|
$
|
(7
|
)
|
$
|
(7
|
)
|
$
|
(310
|
)
|
$
|
(87
|
)
|
$
|
526
|
|
$
|
860
|
|
|
Identifiable
segment assets (period end)
|
|
$
|
2,936
|
$
|
2,490
|
$
|
35,839
|
|
$
|
25,399
|
|
$
|
5,090
|
|
$
|
4,444
|
|
$
|
8,921
|
|
$
|
8,865
|
|
$
|
152,398
|
|
$
|
136,465
|
|
(1)
Includes
financial data
from subsidiaries below the quantitative and qualitative thresholds requiring disclosure.
|