REVENUES

9 Months Ended

Jun. 30, 2023

Revenues [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 June 30, 2023
$ in millions	Private Client Group		Capital Markets		Asset Management		Bank		Other and intersegment eliminations		Total
Revenues:
Asset management and related administrative fees	$	1,164	$	1	$	217	$	—	$	(9)	$	1,373
Brokerage revenues:
Securities commissions:
Mutual and other fund products	135		1		2		—		(1)		137
Insurance and annuity products	103		—		—		—		—		103
Equities, exchange traded funds (“ETFs”) and fixed income products	86		31		—		—		(1)		116
Subtotal securities commissions	324		32		2		—		(2)		356
Principal transactions (1)	25		78		—		3		(1)		105
Total brokerage revenues	349		110		2		3		(3)		461
Account and service fees:
Mutual fund and annuity service fees	103		—		—		—		—		103
RJBDP fees	384		1		—		—		(278)		107
Client account and other fees	59		2		5		—		(12)		54
Total account and service fees	546		3		5		—		(290)		264
Investment banking:
Merger & acquisition and advisory	—		88		—		—		—		88
Equity underwriting	9		25		—		—		1		35
Debt underwriting	—		28		—		—		—		28
Total investment banking	9		141		—		—		1		151
Other:
Affordable housing investments business revenues	—		21		—		—		—		21
All other (1)	25		—		—		14		(3)		36
Total other	25		21		—		14		(3)		57
Total non-interest revenues	2,093		276		224		17		(304)		2,306
Interest income (1)	114		21		2		826		24		987
Total revenues	2,207		297		226		843		(280)		3,293
Interest expense	(25)		(21)		—		(329)		(11)		(386)
Net revenues	$	2,182	$	276	$	226	$	514	$	(291)	$	2,907

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

	Three months ended June 30, 2022
$ in millions	Private Client Group		Capital Markets		Asset Management		Bank		Other and intersegment eliminations		Total
Revenues:
Asset management and related administrative fees	$	1,214	$	—	$	220	$	—	$	(7)	$	1,427
Brokerage revenues:
Securities commissions:
Mutual and other fund products	149		1		2		—		(1)		151
Insurance and annuity products	109		—		—		—		—		109
Equities, ETFs and fixed income products	90		35		—		—		—		125
Subtotal securities commissions	348		36		2		—		(1)		385
Principal transactions (1)	25		103		—		—		—		128
Total brokerage revenues	373		139		2		—		(1)		513
Account and service fees:
Mutual fund and annuity service fees	102		—		—		—		—		102
RJBDP fees	135		1		—		—		(80)		56
Client account and other fees	59		1		5		—		(12)		53
Total account and service fees	296		2		5		—		(92)		211
Investment banking:
Merger & acquisition and advisory	—		147		—		—		—		147
Equity underwriting	6		36		—		—		—		42
Debt underwriting	—		34		—		—		—		34
Total investment banking	6		217		—		—		—		223
Other:
Affordable housing investments business revenues	—		21		—		—		—		21
All other (1)	11		1		—		6		(9)		9
Total other	11		22		—		6		(9)		30
Total non-interest revenues	1,900		380		227		6		(109)		2,404
Interest income (1)	68		6		1		296		3		374
Total revenues	1,968		386		228		302		(106)		2,778
Interest expense	(10)		(3)		—		(26)		(21)		(60)
Net revenues	$	1,958	$	383	$	228	$	276	$	(127)	$	2,718

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

	Nine Months Ended June 30, 2023
$ in millions	Private Client Group		Capital Markets		Asset Management		Bank		Other and intersegment eliminations		Total
Revenues:
Asset management and related administrative fees	$	3,319	$	2	$	620	$	—	$	(24)	$	3,917
Brokerage revenues:
Securities commissions:
Mutual and other fund products	398		4		4		—		(2)		404
Insurance and annuity products	320		—		—		—		—		320
Equities, ETFs and fixed income products	259		96		—		—		(2)		353
Subtotal securities commissions	977		100		4		—		(4)		1,077
Principal transactions (1)	81		274		—		11		(2)		364
Total brokerage revenues	1,058		374		4		11		(6)		1,441
Account and service fees:
Mutual fund and annuity service fees	306		—		1		—		(1)		306
RJBDP fees	1,200		3		—		—		(859)		344
Client account and other fees	175		5		15		—		(34)		161
Total account and service fees	1,681		8		16		—		(894)		811
Investment banking:
Merger & acquisition and advisory	—		277		—		—		—		277
Equity underwriting	27		69		—		—		—		96
Debt underwriting	—		73		—		—		—		73
Total investment banking	27		419		—		—		—		446
Other:
Affordable housing investments business revenues	—		68		—		—		—		68
All other (1)	40		1		2		33		(11)		65
Total other	40		69		2		33		(11)		133
Total non-interest revenues	6,125		872		642		44		(935)		6,748
Interest income (1)	340		65		7		2,251		66		2,729
Total revenues	6,465		937		649		2,295		(869)		9,477
Interest expense	(76)		(64)		—		(733)		(38)		(911)
Net revenues	$	6,389	$	873	$	649	$	1,562	$	(907)	$	8,566

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

	Nine Months Ended June 30, 2022
$ in millions	Private Client Group		Capital Markets		Asset Management		Bank		Other and intersegment eliminations		Total
Revenues:
Asset management and related administrative fees	$	3,621	$	2	$	673	$	—	$	(23)	$	4,273
Brokerage revenues:
Securities commissions:
Mutual and other fund products	486		5		6		—		(2)		495
Insurance and annuity products	330		—		—		—		—		330
Equities, ETFs and fixed income products	299		108		—		—		—		407
Subtotal securities commissions	1,115		113		6		—		(2)		1,232
Principal transactions (1)	52		351		—		—		—		403
Total brokerage revenues	1,167		464		6		—		(2)		1,635
Account and service fees:
Mutual fund and annuity service fees	325		—		—		—		(1)		324
RJBDP fees	271		1		—		—		(179)		93
Client account and other fees	161		5		17		—		(33)		150
Total account and service fees	757		6		17		—		(213)		567
Investment banking:
Merger & acquisition and advisory	—		557		—		—		—		557
Equity underwriting	28		185		—		—		—		213
Debt underwriting	—		113		—		—		—		113
Total investment banking	28		855		—		—		—		883
Other:
Affordable housing investments business revenues	—		71		—		—		—		71
All other (1)	24		4		1		20		(12)		37
Total other	24		75		1		20		(12)		108
Total non-interest revenues	5,597		1,402		697		20		(250)		7,466
Interest income (1)	138		16		1		682		4		841
Total revenues	5,735		1,418		698		702		(246)		8,307
Interest expense	(16)		(8)		—		(46)		(65)		(135)
Net revenues	$	5,719	$	1,410	$	698	$	656	$	(311)	$	8,172

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

At June 30, 2023 and September 30, 2022, net receivables related to contracts with customers were $543 million and $511 million, respectively.