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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, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenues:        
Principal transactions $ 128 $ 137 $ 403 $ 432
Interest income 374 205 841 608
Total revenues 2,778 2,511 8,307 7,180
Interest expense (60) (40) (135) (115)
Net revenues 2,718 2,471 8,172 7,065
Non-interest expenses:        
Compensation, commissions and benefits 1,834 1,661 5,570 4,809
Non-compensation expenses:        
Communications and information processing 129 109 368 315
Occupancy and equipment 65 58 186 172
Business development 58 31 127 75
Investment sub-advisory fees 38 34 116 93
Professional fees 38 30 93 85
Bank loan provision/(benefit) for credit losses 56 (19) 66 (37)
Losses on extinguishment of debt 0 98 0 98
Other 85 84 240 224
Total non-compensation expenses 469 425 1,196 1,025
Total non-interest expenses 2,303 2,086 6,766 5,834
Pre-tax income 415 385 1,406 1,231
Provision for income taxes 114 78 336 257
Net income 301 307 1,070 974
Preferred stock dividends 2 0 2 0
Net income available to common shareholders 299 307 1,068 974
Net income available to common shareholders $ 299 $ 307 $ 1,068 $ 974
Earnings per common share – basic (in dollars per share) $ 1.41 $ 1.49 $ 5.12 $ 4.73
Earnings per common share – diluted (in dollars per share) $ 1.38 $ 1.45 $ 4.99 $ 4.61
Weighted-average common shares outstanding – basic (in shares) 210.7 205.8 208.1 205.8
Weighted-average common and common equivalent shares outstanding – diluted (in shares) 215.7 211.7 213.5 210.9
Net income $ 301 $ 307 $ 1,070 $ 974
Other comprehensive (loss) income, net of tax:        
Available-for-sale securities (157) 25 (532) (68)
Currency translations, net of the impact of net investment hedges (40) 5 (51) 25
Cash flow hedges 10 (2) 48 22
Total other comprehensive income/(loss), net of tax (187) 28 (535) (21)
Total comprehensive income 114 335 535 953
Asset management and related administrative fees        
Revenues:        
Revenue from contract with customer 1,427 1,262 4,273 3,502
Total brokerage revenues        
Revenues:        
Total brokerage revenues 513 552 1,635 1,671
Securities commissions        
Revenues:        
Revenue from contract with customer 385 415 1,232 1,239
Account and service fees        
Revenues:        
Revenue from contract with customer 211 161 567 465
Investment banking        
Revenues:        
Revenue from contract with customer 223 276 883 779
Other        
Revenues:        
Revenue from contract with customer $ 30 $ 55 $ 108 $ 155