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CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Revenues:        
Principal transactions $ 137 $ 143 $ 432 $ 345
Noninterest income 2,306 1,659 6,572 5,248
Interest income 205 217 608 799
Total revenues 2,511 1,876 7,180 6,047
Interest expense (40) (42) (115) (136)
Net revenues 2,471 1,834 7,065 5,911
Non-interest expenses:        
Compensation, commissions and benefits 1,661 1,277 4,809 4,050
Non-compensation expenses:        
Communications and information processing 109 100 315 293
Occupancy and equipment 58 55 172 168
Business development 31 21 75 106
Investment sub-advisory fees 34 23 93 75
Professional fees 26 24 80 68
Bank loan provision/(benefit) for credit losses (19) 81 (37) 188
Losses on extinguishment of debt 98 0 98 0
Acquisition-related expenses 7 0 9 0
Other 81 55 220 167
Total non-compensation expenses 425 359 1,025 1,065
Total non-interest expenses 2,086 1,636 5,834 5,115
Pre-tax income 385 198 1,231 796
Provision for income taxes 78 26 257 187
Net income $ 307 $ 172 $ 974 $ 609
Earnings per common share – basic (in dollars per share) $ 2.24 $ 1.25 $ 7.09 $ 4.41
Earnings per common share – diluted (in dollars per share) $ 2.18 $ 1.23 $ 6.92 $ 4.33
Weighted-average common shares outstanding – basic (in shares) 137.2 137.1 137.2 137.9
Weighted-average common and common equivalent shares outstanding – diluted (in shares) 141.1 139.4 140.6 140.5
Net income $ 307 $ 172 $ 974 $ 609
Other comprehensive (loss) income, net of tax:        
Available-for-sale securities 25 5 (68) 67
Currency translations, net of the impact of net investment hedges 5 11 25 (6)
Cash flow hedges (2) (4) 22 (37)
Total other comprehensive income/(loss), net of tax 28 12 (21) 24
Total comprehensive income 335 184 953 633
Asset management and related administrative fees        
Revenues:        
Revenue from contract with customer 1,262 867 3,502 2,828
Total brokerage revenues        
Revenues:        
Noninterest income 552 486 1,671 1,461
Securities commissions        
Revenues:        
Revenue from contract with customer 415 343 1,239 1,116
Account and service fees        
Revenues:        
Revenue from contract with customer 161 134 465 484
Investment banking        
Revenues:        
Revenue from contract with customer 276 139 779 428
Other        
Revenues:        
Noninterest income $ 55 $ 33 $ 155 $ 47