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Consolidated Income Statement - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Interest Income        
Loans $ 4,842 $ 4,523 $ 9,661 $ 8,781
Investment securities 1,001 883 1,884 1,768
Other 725 538 1,523 1,054
Total interest income 6,568 5,944 13,068 11,603 Close
Interest Expense        
Deposits 2,084 1,531 4,161 2,822
Borrowed funds 1,182 903 2,341 1,686
Total interest expense 3,266 2,434 6,502 4,508 Close
Net interest income 3,302 3,510 6,566 7,095 Close
Noninterest Income         CloseCloseCloseCloseCloseCloseCloseClose
Asset management and brokerage 364 348 728 704 CloseCloseCloseCloseCloseCloseCloseClose
Capital markets and advisory 272 213 531 475 CloseCloseCloseCloseCloseCloseCloseClose
Card and cash management 706 697 1,377 1,356 CloseCloseCloseCloseCloseCloseCloseClose
Lending and deposit services 304 298 609 604 CloseCloseCloseCloseCloseCloseCloseClose
Residential and commercial mortgage 131 98 278 275 CloseCloseCloseCloseCloseCloseCloseClose
Other income         CloseCloseCloseCloseCloseCloseCloseClose
Gain on Visa shares exchange program 754 754 CloseCloseCloseCloseCloseCloseCloseClose
Securities gains (losses) (499) (2) (499) (2) CloseCloseCloseCloseCloseCloseCloseClose
Other 77 131 212 389 CloseCloseCloseCloseCloseCloseCloseClose
Total other income 332 129 467 387 CloseCloseCloseCloseCloseCloseCloseCloseClose
Total noninterest income 2,109 1,783 3,990 3,801 CloseCloseCloseCloseCloseCloseCloseCloseClose
Total revenue 5,411 5,293 10,556 10,896 CloseCloseCloseCloseCloseCloseCloseCloseClose
Provision For Credit Losses 235 146 390 381 CloseCloseCloseCloseCloseCloseCloseCloseClose
Noninterest Expense         CloseCloseCloseCloseCloseCloseCloseClose
Personnel 1,782 1,846 3,576 3,672 CloseCloseCloseCloseCloseCloseCloseClose
Occupancy 236 244 480 495 CloseCloseCloseCloseCloseCloseCloseClose
Equipment 356 349 697 699 CloseCloseCloseCloseCloseCloseCloseClose
Marketing 93 109 157 183 CloseCloseCloseCloseCloseCloseCloseClose
Other 890 824 1,781 1,644 CloseCloseCloseCloseCloseCloseCloseClose
Total noninterest expense 3,357 3,372 6,691 6,693 CloseCloseCloseCloseCloseCloseCloseCloseCloseCloseClose
Income before income taxes and noncontrolling interests 1,819 1,775 3,475 3,822 CloseCloseCloseClose
Income taxes 342 275 654 628 CloseClose
Net income 1,477 1,500 2,821 3,194 CloseClose
Less: Net income attributable to noncontrolling interests 18 17 32 34
Preferred stock dividends 95 127 176 195
Preferred stock discount accretion and redemptions 2 2 4 4
Net income attributable to common shareholders $ 1,362 $ 1,354 $ 2,609 $ 2,961
Earnings Per Common Share        
Basic (in dollars per share) $ 3.39 $ 3.36 $ 6.49 $ 7.35
Diluted (in dollars per share) $ 3.39 $ 3.36 $ 6.48 $ 7.34
Average Common Shares Outstanding        
Basic (in shares) 400 401 400 401
Diluted (in shares) 400 401 400 401