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CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenues:        
Principal transactions $ 116 $ 105 $ 369 $ 364
Interest income 1,057 987 3,159 2,729
Total revenues 3,762 3,293 10,920 9,477 Close
Interest expense (534) (386) (1,561) (911) Close
Net revenues 3,228 2,907 9,359 8,566
Non-interest expenses:        
Compensation, commissions and benefits 2,090 1,851 6,054 5,407
Non-compensation expenses:        
Communications and information processing 166 149 481 441
Occupancy and equipment 75 68 220 202
Business development 72 66 193 176
Investment sub-advisory fees 48 40 132 110
Professional fees 38 35 103 105
Bank loan provision/(benefit) for credit losses (10) 54 23 96
Other 105 158 270 334
Total non-compensation expenses 494 570 1,422 1,464
Total non-interest expenses 2,584 2,421 7,476 6,871 Close
Pre-tax income 644 486 1,883 1,695
Provision for income taxes 152 117 417 390 Close
Net income 492 369 1,466 1,305 Close
Preferred stock dividends 1 0 4 4
Net income available to common shareholders, basic 491 369 1,462 1,301
Net income available to common shareholders, diluted $ 491 $ 369 $ 1,462 $ 1,301
Earnings per common share – basic (in usd per share) $ 2.37 $ 1.75 $ 7.02 $ 6.09
Earnings per common share – diluted (in usd per share) $ 2.31 $ 1.71 $ 6.85 $ 5.95
Weighted-average common shares outstanding – basic (in shares) 206.8 210.1 207.9 213.0
Weighted-average common and common equivalent shares outstanding – diluted (in shares) 212.3 214.8 213.1 218.0
Net income $ 492 $ 369 $ 1,466 $ 1,305
Other comprehensive income/(loss), net of tax:        
Available-for-sale securities 11 (76) 255 68
Currency translations, net of the impact of net investment hedges (2) 20 16 73
Cash flow hedges (2) 12 (17) (1)
Total other comprehensive income/(loss), net of tax 7 (44) 254 140
Total comprehensive income 499 325 1,720 1,445
Asset management and related administrative fees        
Revenues:        
Revenue from contract with customer 1,611 1,373 4,534 3,917
Total brokerage revenues        
Revenues:        
Total brokerage revenues 532 461 1,582 1,441
Securities commissions        
Revenues:        
Revenue from contract with customer 416 356 1,213 1,077
Account and service fees        
Revenues:        
Revenue from contract with customer 328 264 982 811
Investment banking        
Revenues:        
Revenue from contract with customer 183 151 543 446
Other        
Revenues:        
Revenue from contract with customer $ 51 $ 57 $ 120 $ 133