REVENUES

6 Months Ended

Mar. 31, 2023

Revenue from Contract with Customer [Abstract]

REVENUES

REVENUESThe following tables present our sources of revenues by segment. For further information about our significant accounting policies related to revenue recognition see Note 2 of our 2022 Form 10-K. See Note 26 of our 2022 Form 10-K and Note 23 of this Form 10-Q for additional information on our segment results.

	Three months ended March 31, 2023
$ in millions	Private Client Group		Capital Markets		Asset Management		Bank		Other and intersegment eliminations		Total
Revenues:
Asset management and related administrative fees	$	1,102	$	—	$	206	$	—	$	(6)	$	1,302
Brokerage revenues:
Securities commissions:
Mutual and other fund products	135		2		1		—		(1)		137
Insurance and annuity products	113		—		—		—		—		113
Equities, exchange traded funds (“ETFs”) and fixed income products	88		32		—		—		(1)		119
Subtotal securities commissions	336		34		1		—		(2)		369
Principal transactions (1)	28		96		—		4		(1)		127
Total brokerage revenues	364		130		1		4		(3)		496
Account and service fees:
Mutual fund and annuity service fees	105		—		1		—		(1)		105
RJBDP fees	411		1		—		—		(312)		100
Client account and other fees	56		1		5		—		(9)		53
Total account and service fees	572		2		6		—		(322)		258
Investment banking:
Merger & acquisition and advisory	—		87		—		—		—		87
Equity underwriting	9		29		—		—		—		38
Debt underwriting	—		29		—		—		—		29
Total investment banking	9		145		—		—		—		154
Other:
Affordable housing investments business revenues	—		23		—		—		—		23
All other (1)	9		1		—		6		(7)		9
Total other	9		24		—		6		(7)		32
Total non-interest revenues	2,056		301		213		10		(338)		2,242
Interest income (1)	117		21		3		749		25		915
Total revenues	2,173		322		216		759		(313)		3,157
Interest expense	(29)		(20)		—		(219)		(16)		(284)
Net revenues	$	2,144	$	302	$	216	$	540	$	(329)	$	2,873

(1)    These revenues are generally not in scope of the accounting guidance for revenue from contracts with customers.

	Three months ended March 31, 2022
$ in millions	Private Client Group		Capital Markets		Asset Management		Bank		Other and intersegment eliminations		Total
Revenues:
Asset management and related administrative fees	$	1,245	$	1	$	226	$	—	$	(8)	$	1,464
Brokerage revenues:
Securities commissions:
Mutual and other fund products	166		2		2		—		(1)		169
Insurance and annuity products	110		—		—		—		—		110
Equities, ETFs and fixed income products	105		38		—		—		—		143
Subtotal securities commissions	381		40		2		—		(1)		422
Principal transactions (1)	16		126		—		—		—		142
Total brokerage revenues	397		166		2		—		(1)		564
Account and service fees:
Mutual fund and annuity service fees	109		—		—		—		—		109
RJBDP fees	69		—		—		—		(49)		20
Client account and other fees	53		2		6		—		(11)		50
Total account and service fees	231		2		6		—		(60)		179
Investment banking:
Merger & acquisition and advisory	—		139		—		—		—		139
Equity underwriting	9		52		—		—		—		61
Debt underwriting	—		35		—		—		—		35
Total investment banking	9		226		—		—		—		235
Other:
Affordable housing investments business revenues	—		15		—		—		—		15
All other (1)	6		1		—		8		(3)		12
Total other	6		16		—		8		(3)		27
Total non-interest revenues	1,888		411		234		8		(72)		2,469
Interest income (1)	37		5		—		199		1		242
Total revenues	1,925		416		234		207		(71)		2,711
Interest expense	(3)		(3)		—		(10)		(22)		(38)
Net revenues	$	1,922	$	413	$	234	$	197	$	(93)	$	2,673

(1)    These revenues are generally not in scope of the accounting guidance for revenue from contracts with customers.

	Six months ended March 31, 2023
$ in millions	Private Client Group		Capital Markets		Asset Management		Bank		Other and intersegment eliminations		Total
Revenues:
Asset management and related administrative fees	$	2,155	$	1	$	403	$	—	$	(15)	$	2,544
Brokerage revenues:
Securities commissions:
Mutual and other fund products	263		3		2		—		(1)		267
Insurance and annuity products	217		—		—		—		—		217
Equities, ETFs and fixed income products	173		65		—		—		(1)		237
Subtotal securities commissions	653		68		2		—		(2)		721
Principal transactions (1)	56		196		—		8		(1)		259
Total brokerage revenues	709		264		2		8		(3)		980
Account and service fees:
Mutual fund and annuity service fees	203		—		1		—		(1)		203
RJBDP fees	816		2		—		—		(581)		237
Client account and other fees	116		3		10		—		(22)		107
Total account and service fees	1,135		5		11		—		(604)		547
Investment banking:
Merger & acquisition and advisory	—		189		—		—		—		189
Equity underwriting	18		44		—		—		(1)		61
Debt underwriting	—		45		—		—		—		45
Total investment banking	18		278		—		—		(1)		295
Other:
Affordable housing investments business revenues	—		47		—		—		—		47
All other (1)	15		1		2		19		(8)		29
Total other	15		48		2		19		(8)		76
Total non-interest revenues	4,032		596		418		27		(631)		4,442
Interest income (1)	226		44		5		1,425		42		1,742
Total revenues	4,258		640		423		1,452		(589)		6,184
Interest expense	(51)		(43)		—		(404)		(27)		(525)
Net revenues	$	4,207	$	597	$	423	$	1,048	$	(616)	$	5,659

(1)    These revenues are generally not in scope of the accounting guidance for revenue from contracts with customers.

	Six months ended March 31, 2022
$ in millions	Private Client Group		Capital Markets		Asset Management		Bank		Other and intersegment eliminations		Total
Revenues:
Asset management and related administrative fees	$	2,407	$	2	$	453	$	—	$	(16)	$	2,846
Brokerage revenues:
Securities commissions:
Mutual and other fund products	337		4		4		—		(1)		344
Insurance and annuity products	221		—		—		—		—		221
Equities, ETFs and fixed income products	209		73		—		—		—		282
Subtotal securities commissions	767		77		4		—		(1)		847
Principal transactions (1)	27		248		—		—		—		275
Total brokerage revenues	794		325		4		—		(1)		1,122
Account and service fees:
Mutual fund and annuity service fees	223		—		—		—		(1)		222
RJBDP fees	136		—		—		—		(99)		37
Client account and other fees	102		4		12		—		(21)		97
Total account and service fees	461		4		12		—		(121)		356
Investment banking:
Merger & acquisition and advisory	—		410		—		—		—		410
Equity underwriting	22		149		—		—		—		171
Debt underwriting	—		79		—		—		—		79
Total investment banking	22		638		—		—		—		660
Other:
Affordable housing investments business revenues	—		50		—		—		—		50
All other (1)	13		3		1		14		(3)		28
Total other	13		53		1		14		(3)		78
Total non-interest revenues	3,697		1,022		470		14		(141)		5,062
Interest income (1)	70		10		—		386		1		467
Total revenues	3,767		1,032		470		400		(140)		5,529
Interest expense	(6)		(5)		—		(20)		(44)		(75)
Net revenues	$	3,761	$	1,027	$	470	$	380	$	(184)	$	5,454

(1)    These revenues are generally not in scope of the accounting guidance for revenue from contracts with customers.

At March 31, 2023 and September 30, 2022, net receivables related to contracts with customers were $540 million and $511 million, respectively.