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Consolidated Statements of Income (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Revenue        
Investment banking fees $ 3,470 $ 2,850 $ 6,440 $ 4,716
Principal transactions 4,076 7,621 10,576 10,558
Lending- and deposit-related fees 1,760 1,431 3,447 3,137
Asset management, administration and commissions 5,194 4,266 10,223 8,806
Investment securities gains/(losses) (155) 26 (141) 259
Mortgage fees and related income 551 917 1,255 1,237
Card income 1,647 974 2,997 1,969
Other income [1] 1,195 1,137 2,318 2,387
Noninterest revenue 17,738 19,222 37,115 33,069
Interest income 14,094 16,112 28,365 35,273
Interest expense 1,353 2,259 2,735 6,981
Net interest income 12,741 13,853 25,630 28,292
Total net revenue 30,479 33,075 62,745 61,361
Provision for credit losses (2,285) 10,473 (6,441) 18,758
Noninterest expense        
Compensation expense 9,814 9,509 20,415 18,404
Occupancy expense 1,090 1,080 2,205 2,146
Technology, communications and equipment expense 2,488 2,590 5,007 5,168
Professional and outside services 2,385 1,999 4,588 4,027
Marketing 626 481 1,377 1,281
Other expense 1,264 1,283 2,800 2,707
Total noninterest expense 17,667 16,942 36,392 33,733
Income before income tax expense 15,097 5,660 32,794 8,870
Income tax expense [1] 3,149 973 6,546 1,318
Net income 11,948 4,687 26,248 7,552
Net income applicable to common stockholders $ 11,496 $ 4,265 $ 25,346 $ 6,698
Net income per common share data        
Basic earnings per share (in dollars per share) $ 3.79 $ 1.39 $ 8.30 $ 2.17
Diluted earnings per share (in dollars per share) $ 3.78 $ 1.38 $ 8.28 $ 2.17
Weighted-average basic shares (in shares) 3,036.6 3,076.3 3,054.9 3,086.1
Weighted-average diluted shares (in shares) 3,041.9 3,081.0 3,060.3 3,090.8
[1] Prior-period amounts have been revised to conform with the current presentation. Refer to Note 1 for further information.