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Other Liabilities (Tables)
 9 Months Ended
Sep. 30, 2025
Other Liabilities Disclosure [Abstract]  
Summary of Other Liabilities by Type
The table below presents other liabilities by type.
 
As of
SeptemberDecember
$ in millions20252024
Compensation and benefits$8,464 $8,770 
Income tax-related liabilities4,271 3,544 
Operating lease liabilities2,184 2,062 
Noncontrolling interests349 401 
Employee interests in consolidated funds12 16 
Accrued expenses and other 9,897 9,427 
Total$25,177 $24,220 
Information About Operating Lease Liabilities
The table below presents information about operating lease liabilities.
$ in millionsOperating
 lease liabilities
As of September 2025 
Remainder of 2025$95 
2026373 
2027336 
2028294 
2029260 
2030 - thereafter1,426 
Total undiscounted lease payments2,784 
Imputed interest(600)
Total operating lease liabilities$2,184 
Weighted average remaining lease term11 years
Weighted average discount rate4.37%
As of December 2024 
2025$295 
2026315 
2027278 
2028252 
2029225 
2030 - thereafter1,298 
Total undiscounted lease payments2,663 
Imputed interest(601)
Total operating lease liabilities$2,062 
Weighted average remaining lease term12 years
Weighted average discount rate4.25%
In the table above, the weighted average discount rate represents the firm’s incremental borrowing rate as of the date of adoption of ASU No. 2016-02, “Leases (Topic 842),” for operating leases existing on the date of adoption and as of the lease inception date for leases entered into subsequent to the adoption of this ASU.