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Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Sep. 30, 2025
Dec. 31, 2024
Assets    
Cash and cash equivalents $ 30,572 [1],[2] $ 42,083
Cash and investments segregated and on deposit for regulatory purposes (including resale agreements of $22,245 and $10,075 at September 30, 2025 and December 31, 2024, respectively) 47,754 38,221
Receivables from brokers, dealers, and clearing organizations 4,728 2,440
Receivables from brokerage clients — net 93,788 85,374
Available for sale securities (amortized cost of $66,698 and $89,704 at September 30, 2025 and December 31, 2024, respectively; including assets pledged of $311 and $378, respectively) 62,308 82,994
Held to maturity securities (including assets pledged of $2,047 and $5,920 at September 30, 2025 and December 31, 2024, respectively) 136,693 146,453
Bank loans — net 53,570 45,215
Equipment, office facilities, and property — net 3,136 3,338
Goodwill 11,951 11,951
Acquired intangible assets — net 7,360 7,743
Other assets 13,395 14,031
Total assets 465,255 479,843
Liabilities and Stockholders’ Equity    
Bank deposits 239,057 259,121
Payables to brokers, dealers, and clearing organizations 22,407 13,336
Payables to brokerage clients 115,397 101,559
Accrued expenses and other liabilities 11,420 12,325
Other short-term borrowings 6,541 5,999
Federal Home Loan Bank borrowings 850 16,700
Long-term debt 20,199 22,428
Total liabilities 415,871 431,468
Stockholders’ equity:    
Preferred stock — $.01 par value per share; aggregate liquidation preference of $6,871 and $9,329 at September 30, 2025 and December 31, 2024, respectively 6,763 9,191
Additional paid-in capital 27,910 27,639
Retained earnings 42,170 37,568
Treasury stock, at cost — 287,497,378 and 242,977,194 shares at September 30, 2025 and December 31, 2024, respectively (15,682) (11,196)
Accumulated other comprehensive income (loss) (11,798) (14,848)
Total stockholders’ equity 49,384 48,375
Total liabilities and stockholders’ equity 465,255 479,843
Common Stock    
Stockholders’ equity:    
Common stock 21 20
Nonvoting Common Stock    
Stockholders’ equity:    
Common stock $ 0 $ 1
[1] Certain prior year amounts have been reclassified to conform to the current year presentation. See Note 1 for additional information.
[2] For more information on the nature of restrictions on restricted cash and cash equivalents, see Note 17.