XML 31 R19.htm IDEA: XBRL DOCUMENT v3.25.3
Income taxes
 9 Months Ended
Sep. 30, 2025
Income Tax Disclosure [Abstract]  
Income taxes Income taxes
BNY recorded an income tax provision of $395 million (21.3% effective tax rate) in the third quarter of 2025, $336 million (22.0% effective tax rate) in the third quarter of 2024 and $404 million (22.0% effective tax rate) in the second quarter of 2025.

Our total tax reserves were $104 million at Sept. 30, 2025 and $109 million at Dec. 31, 2024. If these tax reserves were unnecessary, $104 million would affect the effective tax rate in future periods. We recognize accrued interest and penalties, if applicable, related to income taxes in income tax expense. Included in the balance sheet at Sept. 30, 2025 is accrued interest, where applicable, of $35 million. The tax benefit related to interest for the nine months ended Sept. 30, 2025 was $6 million. There was no tax benefit or expense related to interest for the nine months ended Sept. 30, 2024.

Our federal income tax returns are open to examination from 2017 through 2019 and 2022 and forward. Our New York State and New York City income tax returns are open to examination after 2015. Our UK income tax returns are open to examination after 2020.

On July 4, 2025, the One Big Beautiful Bill Act (“OBBBA”) was signed into law. The OBBBA makes permanent certain provisions from the Tax Cuts and Jobs Act and modifies other tax provisions. These provisions have various effective dates. We do not expect it to have a material financial statement impact.