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Condensed Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Net Revenues    
Interest revenue $ 1,708 $ 1,998
Interest expense (136) (317)
Net interest revenue 1,572 1,681
Other (1) [1] 30 70
Total net revenues 2,617 2,723
Expenses Excluding Interest    
Compensation and benefits 897 850
Professional services 182 170
Occupancy and equipment 142 131
Advertising and market development 67 69
Communications 75 62
Depreciation and amortization 96 83
Regulatory fees and assessments 34 32
Other 77 62
Total expenses excluding interest 1,570 1,459
Income before taxes on income 1,047 1,264
Taxes on income 252 300
Net Income 795 964
Preferred stock dividends and other [2] 38 39
Net Income Available to Common Stockholders $ 757 $ 925
Weighted-Average Common Shares Outstanding:    
Basic (shares) 1,287 1,333
Diluted (shares) [3] 1,294 1,344
Earnings Per Common Shares Outstanding:    
Basic (USD per share) $ 0.59 $ 0.69
Diluted (USD per share) [3] $ 0.58 $ 0.69
Antidilutive stock options and restricted stock awards excluded from the calculation of diluted EPS (in shares) 19 16
Asset management and administration fees [Member]    
Net Revenues    
Asset management and administration fees and Trading revenue $ 827 $ 755
Trading revenue [Member]    
Net Revenues    
Asset management and administration fees and Trading revenue [1] $ 188 $ 217
[1] In the first quarter of 2020, order flow revenue was reclassified from other revenue to trading revenue. Prior period amounts have been reclassified to reflect this change.
[2] Includes preferred stock dividends and undistributed earnings and dividends allocated to non-vested restricted stock units.
[3] Antidilutive stock options and restricted stock units excluded from the calculation of diluted EPS totaled 19 million and 16 million shares for the first quarters of 2020 and 2019, respectively.