XML 14 R4.htm IDEA: XBRL DOCUMENT v3.21.1
CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Mar. 31, 2021
Mar. 31, 2020
Revenues:        
Principal transactions $ 148 $ 105 $ 295 $ 202
Noninterest Income 2,209 1,826 4,266 3,589
Interest income 200 285 403 582
Total revenues 2,409 2,111 4,669 4,171
Interest expense (37) (43) (75) (94)
Net revenues 2,372 2,068 4,594 4,077
Non-interest expenses:        
Compensation, commissions and benefits 1,648 1,422 3,148 2,773
Non-compensation expenses:        
Communications and information processing 107 99 206 193
Occupancy and equipment 57 56 114 113
Business development 21 41 44 85
Investment sub-advisory fees 31 26 59 52
Professional fees 24 23 54 44
Bank loan provision/(benefit) for credit losses (32) 109 (18) 107
Acquisition-related expenses 0 0 2 0
Other 69 53 139 112
Total non-compensation expenses 277 407 600 706
Total non-interest expenses 1,925 1,829 3,748 3,479
Pre-tax income 447 239 846 598
Provision for income taxes 92 70 179 161
Net income $ 355 $ 169 $ 667 $ 437
Earnings per common share – basic (in dollars per share) $ 2.58 $ 1.22 $ 4.85 $ 3.15
Earnings per common share – diluted (in dollars per share) $ 2.51 $ 1.20 $ 4.74 $ 3.09
Weighted-average common shares outstanding – basic (in shares) 137.8 138.4 137.3 138.4
Weighted-average common and common equivalent shares outstanding – diluted (in shares) 141.2 141.1 140.4 141.3
Other comprehensive (loss) income, net of tax:        
Available-for-sale securities $ (76) $ 63 $ (93) $ 62
Currency translations, net of the impact of net investment hedges 2 (26) 20 (17)
Cash flow hedges 19 (43) 24 (33)
Total other comprehensive income/(loss), net of tax (55) (6) (49) 12
Total comprehensive income 300 163 618 449
Asset management and related administrative fees        
Revenues:        
Revenue from contract with customer 1,173 1,006 2,240 1,961
Total brokerage revenues        
Revenues:        
Noninterest Income 591 515 1,119 975
Securities commissions        
Revenues:        
Revenue from contract with customer 443 410 824 773
Account and service fees        
Revenues:        
Revenue from contract with customer 159 172 304 350
Investment banking        
Revenues:        
Revenue from contract with customer 242 148 503 289
Other        
Revenues:        
Noninterest Income $ 44 $ (15) $ 100 $ 14