Consolidated Statement of Income - USD ($) shares in Thousands |
3 Months Ended | 9 Months Ended | |||
|---|---|---|---|---|---|
Sep. 30, 2023 |
Sep. 30, 2022 |
Sep. 30, 2023 |
Sep. 30, 2022 |
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| Fee revenue: | |||||
| Servicing fees | $ 1,234,000,000 | $ 1,219,000,000 | $ 3,710,000,000 | $ 3,884,000,000 | |
| Management fees | 479,000,000 | 472,000,000 | 1,397,000,000 | 1,482,000,000 | |
| Foreign exchange trading services | 313,000,000 | 319,000,000 | 958,000,000 | 1,009,000,000 | |
| Securities finance | 103,000,000 | 110,000,000 | 329,000,000 | 313,000,000 | |
| Software and processing fees | 188,000,000 | 184,000,000 | 574,000,000 | 573,000,000 | |
| Other fee revenue | 44,000,000 | (5,000,000) | 147,000,000 | (19,000,000) | |
| Total fee revenue | 2,361,000,000 | 2,299,000,000 | 7,115,000,000 | 7,242,000,000 | |
| Net interest income: | |||||
| Interest income | 2,328,000,000 | 1,101,000,000 | 6,587,000,000 | 2,326,000,000 | |
| Interest expense | 1,704,000,000 | 441,000,000 | 4,506,000,000 | 573,000,000 | |
| Net interest income | 624,000,000 | 660,000,000 | 2,081,000,000 | 1,753,000,000 | |
| Other income: | |||||
| Gains (losses) from sales of available-for-sale securities, net | (294,000,000) | 0 | (294,000,000) | (2,000,000) | |
| Total other income (loss) | (294,000,000) | 0 | (294,000,000) | (2,000,000) | |
| Total revenue | 2,691,000,000 | 2,959,000,000 | 8,902,000,000 | 8,993,000,000 | |
| Provision for credit losses | 0 | 0 | 26,000,000 | 10,000,000 | |
| Expenses: | |||||
| Compensation and employee benefits | 1,082,000,000 | 1,042,000,000 | 3,497,000,000 | 3,320,000,000 | |
| Information systems and communications | 411,000,000 | 399,000,000 | 1,230,000,000 | 1,214,000,000 | |
| Transaction processing services | 241,000,000 | 227,000,000 | 715,000,000 | 731,000,000 | |
| Occupancy | 101,000,000 | 97,000,000 | 298,000,000 | 288,000,000 | |
| Acquisition and restructuring costs | 0 | 13,000,000 | 0 | 34,000,000 | |
| Amortization of other intangible assets | 60,000,000 | 58,000,000 | 180,000,000 | 179,000,000 | |
| Other | 285,000,000 | 274,000,000 | 841,000,000 | 779,000,000 | |
| Total expenses | 2,180,000,000 | 2,110,000,000 | 6,761,000,000 | 6,545,000,000 | |
| Income before income tax expense | 511,000,000 | 849,000,000 | 2,115,000,000 | 2,438,000,000 | |
| Income tax expense | 89,000,000 | 159,000,000 | 381,000,000 | 397,000,000 | |
| Net income | 422,000,000 | 690,000,000 | 1,734,000,000 | 2,041,000,000 | |
| Net income available to common shareholders, basic | 398,000,000 | 669,000,000 | 1,649,000,000 | 1,964,000,000 | |
| Net income available to common shareholders, diluted | $ 398,000,000 | $ 669,000,000 | $ 1,649,000,000 | $ 1,964,000,000 | |
| Earnings per common share: | |||||
| Basic (in USD per share) | $ 1.27 | $ 1.82 | $ 5.03 | $ 5.35 | |
| Diluted (in USD per share) | $ 1.25 | $ 1.80 | $ 4.97 | $ 5.28 | |
| Average common shares outstanding (in thousands): | |||||
| Basic (in shares) | 313,147 | 367,789 | 327,776 | 367,240 | |
| Diluted (in shares) | 317,329 | 372,418 | 332,011 | 372,194 | |
| Cash dividends declared (in USD per share) | $ 0.69 | $ 0.63 | $ 1.95 | $ 1.77 | |
| X | ||||||||||
- Definition Acquisition-related costs incurred to effect a business combination which costs have been expensed during the period and amount expected to be charged against earning in the current and future periods for the specified restructuring costs. No definition available.
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- Definition Fees And Commissions, Foreign Exchange Trading Services No definition available.
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- Definition Fees And Commissions, Management Fees No definition available.
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- Definition Fees And Commissions, Processing Fees And Other No definition available.
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- Definition Fees And Commissions, Securities Finance No definition available.
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- Definition Fees And Commissions, Servicing Fees No definition available.
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- Definition The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Aggregate dividends declared during the period for each share of common stock outstanding. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The amount of expense in the period for communications and data processing expense. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of realized gain (loss) on investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- References No definition available.
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount, excluding accrued interest, of credit loss expense (reversal of expense) on financing receivable. Excludes net investment in lease. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of expense during the period for floor brokerage fees paid to other broker-dealers to execute trades on their behalf, stock exchange fees, order flow fees, and clearance fees. No definition available.
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- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Represents the total of interest and dividend income, including any amortization and accretion (as applicable) of discounts and premiums, earned from (1) loans and leases whether held-for-sale or held-in-portfolio; (2) investment securities; (3) federal funds sold; (4) securities purchased under agreements to resell; (5) investments in banker's acceptances, commercial paper, or certificates of deposit; (6) dividend income; or (7) other investments not otherwise specified herein. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition The net amount of operating interest income (expense). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition Amount of expense for salary, wage, profit sharing; incentive and equity-based compensation; and other employee benefit. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- References No definition available.
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities, and addition from assumption of issuance of common shares for dilutive potential common shares; of income (loss) available to common shareholders. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Total aggregate amount of all noninterest expense. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The total amount of noninterest income which may be derived from: (1) fees and commissions; (2) premiums earned; (3) insurance policy charges; (4) the sale or disposal of assets; and (5) other sources not otherwise specified. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition Represents the total of noninterest income derived from certain activities and assets including (for example): (1) venture capital investments; (2) bank owned life insurance; (3) foreign currency transactions; and (4) mortgage servicing rights. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of net occupancy expense that may include items, such as depreciation of facilities and equipment, lease expenses, property taxes and property and casualty insurance expense. Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef
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- References No definition available.
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- Definition Amount of expense classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The net amount of other operating income and expenses, the components of which are not separately disclosed on the income statement, from items that are associated with the entity's normal revenue producing operations. No definition available.
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- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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