HSBC USA INC (HUSI PR) [Rocket]

In millions, except per share items	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15	Dec-31-14
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Interest income on loans	1,705.0	2,202.0	2,856.0	2,589.0	2,241.0	2,284.0	2,096.0	1,908.0
Interest income on trading account							340.0	253.0
Total interest income	2,675.0	3,572.0	4,990.0	4,655.0	4,123.0	3,910.0	3,501.0	3,047.0
Interest expense:
Interest on deposits	267.0	755.0	1,475.0	1,072.0	703.0	468.0	260.0	145.0
	592.0	1,398.0	2,878.0	2,403.0	1,850.0	1,426.0	1,031.0	743.0
Net interest income	2,083.0	2,174.0	2,112.0	2,252.0	2,273.0	2,484.0	2,470.0	2,304.0
Provision for loan losses				-73.0	-165.0	372.0	361.0	188.0
Net interest income after provision for loan losses	2,083.0	2,174.0	2,112.0	2,325.0	2,438.0	2,112.0	2,109.0	2,116.0
Credit and debit card fees							43.0	51.0
Gain on sale of investments, net							48.0	122.0
Other non-interest income	1,237.0	1,535.0	1,854.0	1,899.0	2,002.0	1,404.0	1,644.0	1,433.0
Total non-interest income	1,237.0	1,535.0	1,854.0	1,899.0	2,002.0	1,404.0	1,735.0	1,606.0
Non-interest expenses	2,978.0	3,881.0	3,501.0	3,638.0	3,391.0	3,298.0	3,284.0
Asset impairment		784.0	365.0
Pre-tax income	912.0	-982.0	270.0	586.0	1,049.0	218.0	560.0	298.0
Income taxes	224.0	-42.0	157.0	266.0	1,228.0	89.0	230.0	-56.0
Tax rate	24.6%	4.3%	58.1%	45.4%	117.1%	40.8%	41.1%
Net income	688.0	-940.0	113.0	320.0	-179.0	129.0	330.0	354.0
Net margin	20.7%	-25.3%	2.8%	7.6%	-4.0%	3.7%	8.6%	9.5%



EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.