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Consolidated Statements of Income (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Revenue        
Investment banking fees $ 1,604 $ 1,538 $ 5,231 $ 4,709
Principal transactions 2,367 2,966 8,856 9,196
Lending- and deposit-related fees 1,463 1,479 4,244 4,347
Asset management, administration and commissions 3,845 3,978 11,667 11,821
Securities gains [1] 33 6 129 48
Mortgage fees and related income 469 903 1,957 2,708
Card income 1,447 1,537 4,493 4,494
Other income 628 955 1,796 2,467
Noninterest revenue 11,856 13,362 38,373 39,790
Interest income 12,739 12,926 37,818 38,580
Interest expense 1,815 1,819 5,533 6,008
Net interest income 10,924 11,107 32,285 32,572
Total net revenue 22,780 24,469 70,658 72,362
Provision for credit losses 682 757 2,576 2,299
Noninterest expense        
Compensation expense 7,320 7,831 23,057 23,300
Occupancy expense 965 978 2,821 2,903
Technology, communications and equipment expense 1,546 1,465 4,536 4,309
Professional and outside services 1,776 1,907 5,178 5,625
Marketing 704 610 1,937 1,824
Other expense 3,057 3,007 7,222 7,904
Total noninterest expense 15,368 15,798 44,751 45,865
Income before income tax expense/(benefit) 6,730 7,914 23,331 24,198
Income tax expense/(benefit) (74) 2,349 4,323 7,384
Net income 6,804 5,565 19,008 16,814
Net income applicable to common stockholders $ 6,270 $ 5,128 $ 17,498 $ 15,588
Net income per common share data        
Basic earnings per share (in dollars per share) $ 1.70 $ 1.37 $ 4.72 $ 4.13
Diluted earnings per share (in dollars per share) $ 1.68 $ 1.35 $ 4.68 $ 4.09
Weighted-average basic shares (in shares) 3,694.4 3,755.4 3,709.2 3,774.4
Weighted-average diluted shares (in shares) 3,725.6 3,788.7 3,742.2 3,808.3
Cash dividends declared per common share (in dollars per share) $ 0.44 $ 0.40 $ 1.28 $ 1.18
Other-than-temporary impairment losses included in securities gains        
Total credit losses recognized in income $ (12) $ (2) $ (14) $ (2)
[1] The Firm recognized other-than-temporary impairment (“OTTI”) losses of $12 million and $2 million for the three months ended September 30, 2015 and 2014, respectively, and $14 million and $2 million for the nine months ended September 30, 2015 and 2014, respectively.