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BUSINESS SEGMENT INFORMATION
 9 Months Ended
Sep. 30, 2026
Segment Reporting [Abstract]  
BUSINESS SEGMENT INFORMATION BUSINESS SEGMENT INFORMATION
Business Segment Products and Services

During the third quarter of 2026, in connection with the acquisition of Webster, the Company revised its reportable segment structure to reflect changes in the manner in which its businesses are organized and managed and financial information is evaluated by the Company's CODM, primarily the combination of the C&I and CRE reportable segments into Commercial Banking. The CODM is the Company's CEO. Accordingly, prior-period business segment Information has been recast to conform to the current period presentation. The recast had no impact on the Company's previously reported consolidated financial position or results of operations.

The Company's reportable segments reflect the manner in which its businesses are organized and managed and how financial information is evaluated by the CODM for purposes of assessing performance and allocating resources. The Company has identified the following reportable segments: Auto, CBB, Commercial Banking, CIB, and Wealth Management.
•The Auto segment includes the Company's consumer and commercial auto loans and leases and commercial loans to dealers and dealer floorplan financing products. This includes the Company's specialized consumer finance business focused on vehicle finance and third-party servicing. The primary activity of the Company's specialized consumer finance business is the indirect origination of RICs, principally through manufacturer-franchised dealers in connection with their sale of new and used vehicles to retail consumers. The Company offers a full spectrum of auto financing products and services to captive financing companies. These products and services include consumer RICs and leases, as well as dealer loans for inventory, construction, real estate, working capital and revolving lines of credit. The Company also originates vehicle loans through a web-based direct lending program, purchases vehicle RICs from other lenders, and services automobile, recreational and marine vehicle portfolios for other lenders.
•The CBB segment includes the products and services provided to consumer and small business banking customers, including consumer deposit, small business banking, unsecured lending, and investment services. This segment offers a wide range of products and services to consumers and business banking customers, including demand and interest-bearing demand deposit accounts, money market and savings accounts, CDs, and retirement savings products. It also offers lending products such as home loans, credit cards and small business loans such as business lines of credit. In addition, the Company makes investment services available to its retail customers, including products such as annuities, mutual funds, managed accounts, and insurance products through a networking agreement with a consolidated affiliate.
•The Commercial Banking segment provides banking products and financial services to commercial customers, including middle-market and large corporate customers, CRE investors and developers, government and non-profit entities, and other institutional clients. The segment's products and services include commercial loans, CRE loans, lines of credit, letters of credit, asset-based lending, specialty and sponsor finance, receivables and other supply chain financing, commercial vehicle and equipment finance, commercial deposit products, treasury and cash management services, and other commercial banking products and services. The segment also provides financing for multifamily and other commercial real estate properties and includes community development finance activities, including the origination of CRA-eligible loans and investments.
•The CIB segment serves the needs of global corporate and institutional customers by leveraging the international footprint of Santander to provide financing and banking services to corporations with over $500 million in annual revenues. CIB's offerings and strategy are based on Santander's local and global capabilities in wholesale banking. CIB also includes the Company's institutional broker-dealer that provides services in investment banking, sales, trading, and equity research reports.
•The Wealth Management segment provides private banking, wealth management, investment and financial advisory, financial operations, and portfolio management services to individuals, families, businesses, and institutions. The segment's product and services include wealth management solutions, private banking and tailored lending solutions, and other financial advisory services. The segment also includes the Company's international private banking, financial operations services, and portfolio management businesses, which provide banking and asset management services to foreign individuals and corporations based primarily in Latin America, as well as the Company's investment in the U.K. Limited Partnership.
NOTE 19. BUSINESS SEGMENT INFORMATION (continued)

The Company also offers customer-related derivatives across segments to hedge interest rate risk. In the Commercial Banking and CIB segments and the dealer commercial lending division of the Auto segment, the Company offers derivatives relating to foreign exchange and lending arrangements. See Note 13 to these Condensed Consolidated Financial Statements for additional details.

The Other category includes certain treasury, corporate and functional activities that are not allocated to the Company's reportable segments, certain immaterial subsidiaries, unallocated interest income and expense associated with the Company's borrowings and other debt obligations, certain unallocated corporate income and indirect expenses, and other amounts not directly attributable to the Company's reportable segments. Following the acquisition of Webster, the Other category also includes the Company's Healthcare Financial Services business, which provides healthcare-focused financial products and administrative services to employers, individuals and institutional partners which does not meet the requirements to be separately reported. The Other category includes certain amounts required to reconcile the results of the Company's reportable segments to the Company's consolidated results.

The Company's segment results are derived from the Company's internal profitability reporting system by specifically attributing managed balance sheet assets, deposits and other liabilities and their related interest income or expense to each of the reportable segments. Funds transfer pricing methodologies are utilized to allocate a cost for funds used or a credit for funds provided to reportable segment deposits, loans and selected other assets using a matched funding concept. The methodology includes a liquidity premium adjustment, which considers an appropriate market participant spread for commercial loans and deposits based on the mix of borrowings available to the Company with comparable maturity periods.

Other income and expenses directly attributable to a reportable segment, including fees, service charges, salaries and benefits, and other direct expenses, are reflected within each segment's financial results. Certain corporate, shared-service and other indirect expenses are allocated to the reportable segments using management-established allocation methodologies. Accounting policies for the reportable segments are the same as those used in preparation of these Condensed Consolidated Financial Statements with respect to activities specifically attributable to each reportable segment. The preparation of segment results requires management to establish methodologies to allocate funding costs and benefits, expenses, and other financial elements to the reportable segments. Where practical, the results are adjusted to present consistent methodologies for the reportable segments.

The Company's management reporting methodologies are subject to periodic review and enhancements. Changes to these methodologies may affect the results reported for individual segments but do not impact the Company's consolidated results. When significant changes to management reporting methodologies occur, prior-period segment information is reclassified, wherever practical, to conform to the current-period presentation.

Results of Segments


The following tables outline the discrete financial information regularly provided to the CODM.
(in millions)SHUSA Reportable Segments
Three months ended
Consumer Activities
September 30, 2026AutoCBBCommercial BankingCIBWealth Management
Other(1)
Total
(in millions)
Interest income$1,594 $1,022 $916 $671 $85 $(831)$3,457 
Interest expense608 552 582 567 45 (805)1,549 
Fees and other income26 60 50 129 95 61 421 
Lease income260 — — — — — 260 
Credit loss expense / (benefit)506 17 66 19 (1)(6)601 
Lease expense205 — — — — — 205 
General, administrative and other expenses289 450 160 263 89 225 1,476 
Income/(loss) before income taxes272 63 158 (49)47 (184)307 
(1) Other includes certain treasury and corporate activities, the Healthcare Financial Services business acquired in the Webster acquisition, other immaterial entities, non-strategic assets, the investment portfolio, unallocated interest expense, intangible asset amortization, and other unallocated corporate and reconciling items.
NOTE 19. BUSINESS SEGMENT INFORMATION (continued)

(in millions)SHUSA Reportable Segments
Three months ended
Consumer Activities
September 30, 2025AutoCBBCommercial BankingCIBWealth Management
Other(1)
Total
Interest income$1,633 $752 $586 $734 $86 $(658)$3,133 
Interest expense683 374 384 667 39 (533)1,614 
Fees and other income50 76 38 211 93 11 479 
Lease income395 — — — — — 395 
Credit loss expense / (benefit)382 3 (16)(1)— — 368 
Lease expense336 — — — — — 336 
General, administrative and other expenses351 392 94 233 80 (7)1,143 
Income/(loss) before income taxes326 59 162 46 60 (107)546 
(1) Refer to corresponding notes above.
(in millions)SHUSA Reportable Segments
Nine months ended
Consumer Activities
September 30, 2026AutoCBBCommercial BankingCIBWealth Management
Other (1)
Total
Interest income$4,754 $2,492 $1,962 $1,922 $240 $(2,140)$9,230 
Interest expense1,847 1,325 1,252 1,629 121 (1,869)4,305 
Fees and other income86 205 133 612 310 79 1,425 
Lease income866 — — — — — 866 
Credit loss expense / (benefit)1,204 19 43 22 (1)(7)1,280 
Lease expense708 — — — — — 708 
General, administrative and other expenses898 1,203 343 743 249 243 3,679 
Income/(loss) before income taxes1,049 150 457 140 181 (428)1,549 
Total assets55,266 22,074 71,001 38,927 9,553 65,695 262,516 
(1) Other includes certain treasury and corporate activities, the Healthcare Financial Services business acquired in the Webster acquisition, other immaterial entities, non-strategic assets, the investment portfolio, unallocated interest expense, intangible asset amortization, and other unallocated corporate and reconciling items.

(in millions)SHUSA Reportable Segments
Nine months ended
Consumer Activities
September 30, 2025AutoCBBCommercial BankingCIBWealth Management
Other (1)
Total
Interest income$4,874 $2,217 $1,751 $2,213 $258 $(1,861)$9,452 
Interest expense2,062 1,115 1,147 2,021 112 (1,464)4,993 
Fees and other income140 209 107 563 287 38 1,344 
Lease income1,279 — — — — — 1,279 
Credit loss expense / (benefit)1,121 67 (13)(7)— (1)1,167 
Lease expense1,031 — — — — — 1,031 
General, administrative and other expenses1,036 1,170 285 696 226 6 3,419 
Income/(loss) before income taxes1,043 74 439 66 207 (364)1,465 
Total assets56,864 9,197 26,834 32,687 9,087 33,447 168,116 
(1) Refer to corresponding notes above.