XML 303 R3.htm IDEA: XBRL DOCUMENT v3.24.0.1Close
Consolidated Statement of Income - USD ($)
shares in Thousands, $ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Fee revenue:      
Servicing fees $ 4,922 $ 5,087 $ 5,531
Management fees 1,876 1,939 2,053
Foreign exchange trading services 1,265 1,376 1,211
Securities finance 426 416 416
Software and processing fees 811 789 738
Other fee revenue 180 (1) 63
Total fee revenue 9,480 9,606 10,012
Net interest income:      
Interest income 9,180 4,088 1,908
Interest expense 6,421 1,544 3
Net interest income 2,759 2,544 1,905
Other income:      
Gains (losses) from sales of available-for-sale securities, net (294) (2) 57
Other income 0 0 53
Total other income (294) (2) 110
Total revenue 11,945 12,148 12,027 Close
Provision for credit losses 46 20 (33) Close
Expenses:      
Compensation and employee benefits 4,744 4,428 4,554
Information systems and communications 1,703 1,630 1,661
Transaction processing services 957 971 1,024
Occupancy 426 394 444
Acquisition and restructuring costs (15) 65 65
Amortization of other intangible assets 239 238 245
Other 1,529 1,075 896
Total expenses 9,583 8,801 8,889 Close
Income before income tax expense 2,316 3,327 3,171 Close
Income tax expense 372 553 478 Close
Net income 1,944 2,774 2,693 Close
Net income available to common shareholders -basic 1,821 2,660 2,572
Net income available to common shareholders - diluted $ 1,821 $ 2,660 $ 2,572
Earnings per common share:      
Basic (in USD per share) $ 5.65 $ 7.28 $ 7.30
Diluted (in USD per share) $ 5.58 $ 7.19 $ 7.19
Average common shares outstanding (in thousands):      
Basic (in shares) 322,337 365,214 352,565
Diluted (in shares) 326,568 370,109 357,962
Cash dividends declared (in USD per share) $ 2.64 $ 2.40 $ 2.18