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Consolidated Statements of Income (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Revenue        
Investment banking fees $ 1,833 $ 1,751 $ 3,627 $ 3,171
Principal transactions 2,834 2,908 6,489 6,230
Lending- and deposit-related fees 1,418 1,463 2,781 2,868
Asset management, administration and commissions 4,015 4,007 7,822 7,843
Securities gains [1] 44 12 96 42
Mortgage fees and related income 783 1,291 1,488 1,805
Card income 1,615 1,549 3,046 2,957
Other income 586 899 1,168 1,512
Noninterest revenue 13,128 13,880 26,517 26,428
Interest income 12,514 12,861 25,079 25,654
Interest expense 1,830 2,063 3,718 4,189
Net interest income 10,684 10,798 21,361 21,465
Total net revenue 23,812 24,678 47,878 47,893
Provision for credit losses 935 692 1,894 1,542
Noninterest expense        
Compensation expense 7,694 7,610 15,737 15,469
Occupancy expense 923 973 1,856 1,925
Technology, communications and equipment expense 1,499 1,433 2,990 2,844
Professional and outside services 1,768 1,932 3,402 3,718
Marketing 642 650 1,233 1,214
Other expense 1,974 2,833 4,165 4,897
Total noninterest expense 14,500 15,431 29,383 30,067
Income before income tax expense 8,377 8,555 16,601 16,284
Income tax expense 2,087 2,575 4,397 5,035
Net income 6,290 5,980 12,204 11,249
Net income applicable to common stockholders $ 5,776 $ 5,568 $ 11,228 $ 10,460
Net income per common share data        
Basic earnings per share (in dollars per share) $ 1.56 $ 1.47 $ 3.02 $ 2.76
Diluted earnings per share (in dollars per share) $ 1.54 $ 1.46 $ 2.99 $ 2.74
Weighted-average basic shares (in shares) 3,707.8 3,780.6 3,716.6 3,783.9
Weighted-average diluted shares (in shares) 3,743.6 3,812.5 3,750.5 3,818.1
Cash dividends declared per common share (in dollars per share) $ 0.44 $ 0.4 $ 0.84 $ 0.78
Other-than-temporary impairment losses included in securities gains        
Total credit losses recognized in income $ (1) $ 0 $ (2) $ (2)
[1] (a)The Firm recognized other-than-temporary impairment (“OTTI”) losses of $1 million for the three months ended June 30, 2015, and $2 million for each of the six months ended June 30, 2015 and 2014. The Firm did not recognize OTTI losses for the three months ended June 30, 2014.