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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, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenues:        
Principal transactions $ 105 $ 128 $ 364 $ 403
Interest income 987 374 2,729 841
Total revenues 3,293 2,778 9,477 8,307
Interest expense (386) (60) (911) (135)
Net revenues 2,907 2,718 8,566 8,172
Non-interest expenses:        
Compensation, commissions and benefits 1,851 1,834 5,407 5,570
Non-compensation expenses:        
Communications and information processing 149 129 441 368
Occupancy and equipment 68 65 202 186
Business development 66 58 176 127
Investment sub-advisory fees 40 38 110 116
Professional fees 35 38 105 93
Bank loan provision for credit losses 54 56 96 66
Other 158 85 334 240
Total non-compensation expenses 570 469 1,464 1,196
Total non-interest expenses 2,421 2,303 6,871 6,766
Pre-tax income 486 415 1,695 1,406
Provision for income taxes 117 114 390 336
Net income 369 301 1,305 1,070
Preferred stock dividends 0 2 4 2
Net income available to common shareholders, basic 369 299 1,301 1,068
Net income available to common shareholders, diluted $ 369 $ 299 $ 1,301 $ 1,068
Earnings per common share – basic (in dollars per share) $ 1.75 $ 1.41 $ 6.09 $ 5.12
Earnings per common share – diluted (in dollars per share) $ 1.71 $ 1.38 $ 5.95 $ 4.99
Weighted-average common shares outstanding – basic (in shares) 210.1 210.7 213.0 208.1
Weighted-average common and common equivalent shares outstanding – diluted (in shares) 214.8 215.7 218.0 213.5
Net income $ 369 $ 301 $ 1,305 $ 1,070
Other comprehensive (loss) income, net of tax:        
Available-for-sale securities (76) (157) 68 (532)
Currency translations, net of the impact of net investment hedges 20 (40) 73 (51)
Cash flow hedges 12 10 (1) 48
Total other comprehensive income/(loss), net of tax (44) (187) 140 (535)
Total comprehensive income 325 114 1,445 535
Asset management and related administrative fees        
Revenues:        
Revenue from contract with customer 1,373 1,427 3,917 4,273
Total brokerage revenues        
Revenues:        
Total brokerage revenues 461 513 1,441 1,635
Securities commissions        
Revenues:        
Revenue from contract with customer 356 385 1,077 1,232
Account and service fees        
Revenues:        
Revenue from contract with customer 264 211 811 567
Investment banking        
Revenues:        
Revenue from contract with customer 151 223 446 883
Other        
Revenues:        
Revenue from contract with customer $ 57 $ 30 $ 133 $ 108