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Condensed Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Net Revenues        
Interest revenue $ 3,787 $ 3,817 $ 7,544 $ 7,758
Interest expense (965) (1,659) (2,016) (3,367)
Net interest revenue 2,822 2,158 5,528 4,391
Total net revenues 5,851 4,690 11,450 9,430
Expenses Excluding Interest        
Compensation and benefits 1,536 1,450 3,208 2,988
Professional services 291 259 560 500
Occupancy and equipment 270 248 544 513
Advertising and market development 108 107 204 195
Communications 176 172 329 313
Depreciation and amortization 215 233 432 [1] 461 [1]
Amortization of acquired intangible assets 128 129 258 [1] 259 [1]
Regulatory fees and assessments 77 96 166 221
Other 247 249 491 435
Total expenses excluding interest 3,048 2,943 6,192 5,885
Income before taxes on income 2,803 1,747 5,258 3,545
Taxes on income 677 415 1,223 851
Net Income 2,126 1,332 4,035 [1] 2,694 [1]
Preferred stock dividends and other 149 121 262 232
Net Income Available to Common Stockholders $ 1,977 $ 1,211 $ 3,773 $ 2,462
Weighted-Average Common Shares Outstanding:        
Basic (in shares) 1,817 1,828 1,819 1,827
Diluted (in shares) 1,822 1,834 1,825 1,832
Earnings Per Common Shares Outstanding        
Basic (in USD per share) [2] $ 1.09 $ 0.66 $ 2.07 $ 1.35
Diluted (in USD per share) [2] $ 1.08 $ 0.66 $ 2.07 $ 1.34
Asset management and administration fees        
Net Revenues        
Revenues from contracts with customers $ 1,570 $ 1,383 $ 3,100 $ 2,731
Trading revenue        
Net Revenues        
Revenues from contracts with customers 952 777 1,860 1,594
Bank deposit account fees        
Net Revenues        
Revenues from contracts with customers 247 153 492 336
Other        
Net Revenues        
Revenues from contracts with customers $ 260 $ 219 $ 470 $ 378
[1] Certain prior year amounts have been reclassified to conform to the current year presentation. See Note 1 for additional information.
[2] For additional information on earnings per common shares outstanding for both voting and nonvoting common stock, see Note 16.