REVENUES (Tables)

3 Months Ended

Dec. 31, 2023

Revenues [Abstract]

Disaggregation of Revenue

The 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 2023 Form 10-K. See Note 26 of our 2023 Form 10-K and Note 22 of this Form 10-Q for additional information on our segments.

	Three months ended December 31, 2023
$ in millions	Private Client Group		Capital Markets		Asset Management		Bank		Other and intersegment eliminations		Total
Revenues:
Asset management and related administrative fees	$	1,191	$	—	$	224	$	—	$	(8)	$	1,407
Brokerage revenues:
Securities commissions:
Mutual and other fund products	136		2		2		—		(3)		137
Insurance and annuity products	125		—		—		—		—		125
Equities, exchange-traded funds (“ETFs”) and fixed income products	89		33		—		—		(1)		121
Subtotal securities commissions	350		35		2		—		(4)		383
Principal transactions (1)	32		105		—		2		—		139
Total brokerage revenues	382		140		2		2		(4)		522
Account and service fees:
Mutual fund and annuity service fees	106		—		1		—		(1)		106
RJBDP fees	375		1		—		—		(224)		152
Client account and other fees	65		2		5		—		(11)		61
Total account and service fees	546		3		6		—		(236)		319
Investment banking:
Merger & acquisition and advisory	—		118		—		—		—		118
Equity underwriting	11		26		—		—		—		37
Debt underwriting	—		26		—		—		—		26
Total investment banking	11		170		—		—		—		181
Other:
Affordable housing investments business revenues	—		23		—		—		—		23
All other (1)	4		1		—		13		(3)		15
Total other	4		24		—		13		(3)		38
Total non-interest revenues	2,134		337		232		15		(251)		2,467
Interest income (1)	118		23		3		872		37		1,053
Total revenues	2,252		360		235		887		(214)		3,520
Interest expense	(26)		(22)		—		(446)		(13)		(507)
Net revenues	$	2,226	$	338	$	235	$	441	$	(227)	$	3,013

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

	Three months ended December 31, 2022
$ in millions	Private Client Group		Capital Markets		Asset Management		Bank		Other and intersegment eliminations		Total
Revenues:
Asset management and related administrative fees	$	1,053	$	1	$	197	$	—	$	(9)	$	1,242
Brokerage revenues:
Securities commissions:
Mutual and other fund products	128		1		1		—		—		130
Insurance and annuity products	104		—		—		—		—		104
Equities, ETFs and fixed income products	85		33		—		—		—		118
Subtotal securities commissions	317		34		1		—		—		352
Principal transactions (1)	28		100		—		4		—		132
Total brokerage revenues	345		134		1		4		—		484
Account and service fees:
Mutual fund and annuity service fees	98		—		—		—		—		98
RJBDP fees	405		1		—		—		(269)		137
Client account and other fees	60		2		5		—		(13)		54
Total account and service fees	563		3		5		—		(282)		289
Investment banking:
Merger & acquisition and advisory	—		102		—		—		—		102
Equity underwriting	9		15		—		—		(1)		23
Debt underwriting	—		16		—		—		—		16
Total investment banking	9		133		—		—		(1)		141
Other:
Affordable housing investments business revenues	—		24		—		—		—		24
All other (1)	6		—		2		13		(1)		20
Total other	6		24		2		13		(1)		44
Total non-interest revenues	1,976		295		205		17		(293)		2,200
Interest income (1)	109		23		2		676		17		827
Total revenues	2,085		318		207		693		(276)		3,027
Interest expense	(22)		(23)		—		(185)		(11)		(241)
Net revenues	$	2,063	$	295	$	207	$	508	$	(287)	$	2,786

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