XML 35 R25.htm IDEA: XBRL DOCUMENT v3.24.2.u1
REVENUES
 9 Months Ended
Jun. 30, 2024
Revenues [Abstract]  
REVENUES REVENUES
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 23 of this Form 10-Q for additional information on our segments.
Three months ended June 30, 2024
$ in millionsPrivate Client GroupCapital MarketsAsset ManagementBankOther and intersegment eliminationsTotal
Revenues:
Asset management and related administrative fees$1,364 $— $254 $— $(7)$1,611 
Brokerage revenues:
Securities commissions:
Mutual and other fund products142 1 1 — — 144 
Insurance and annuity products130 — — — — 130 
Equities, exchange-traded funds (“ETFs”) and fixed income products
111 33 — — (2)142 
Subtotal securities commissions383 34 1 — (2)416 
Principal transactions (1)
26 87 — 3 — 116 
Total brokerage revenues409 121 1 3 (2)532 
Account and service fees:
Mutual fund and annuity service fees118 — 2 — — 120 
RJBDP fees347 1 — — (199)149 
Client account and other fees66 1 3 — (11)59 
Total account and service fees531 2 5 — (210)328 
Investment banking:
Merger & acquisition and advisory— 91 — — — 91 
Equity underwriting10 33 — — — 43 
Debt underwriting— 49 — — — 49 
Total investment banking10 173 — — — 183 
Other:
Affordable housing investments business revenues— 30 — — — 30 
All other (1)
13 2 1 9 (4)21 
Total other13 32 1 9 (4)51 
Total non-interest revenues2,327 328 261 12 (223)2,705 
Interest income (1)
121 32 4 867 33 1,057 
Total revenues2,448 360 265 879 (190)3,762 
Interest expense(32)(30)— (461)(11)(534)
Net revenues$2,416 $330 $265 $418 $(201)$3,228 

(1)These revenues are generally not in scope of the accounting guidance for revenue from contracts with customers.
Three months ended June 30, 2023
$ in millionsPrivate Client GroupCapital MarketsAsset ManagementBankOther and intersegment eliminationsTotal
Revenues:
Asset management and related administrative fees$1,164 $1 $217 $— $(9)$1,373 
Brokerage revenues:
Securities commissions:
Mutual and other fund products135 1 2 — (1)137 
Insurance and annuity products103 — — — — 103 
Equities, ETFs and fixed income products86 31 — — (1)116 
Subtotal securities commissions324 32 2 — (2)356 
Principal transactions (1)
25 78 — 3 (1)105 
Total brokerage revenues349 110 2 3 (3)461 
Account and service fees:
Mutual fund and annuity service fees103 — — — — 103 
RJBDP fees384 1 — — (278)107 
Client account and other fees59 2 5 — (12)54 
Total account and service fees546 3 5 — (290)264 
Investment banking:
Merger & acquisition and advisory— 88 — — — 88 
Equity underwriting9 25 — — 1 35 
Debt underwriting— 28 — — — 28 
Total investment banking9 141 — — 1 151 
Other:
Affordable housing investments business revenues— 21 — — — 21 
All other (1)
25 — — 14 (3)36 
Total other25 21 — 14 (3)57 
Total non-interest revenues2,093 276 224 17 (304)2,306 
Interest income (1)
114 21 2 826 24 987 
Total revenues2,207 297 226 843 (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.
Nine months ended June 30, 2024
$ in millionsPrivate Client GroupCapital MarketsAsset ManagementBankOther and intersegment eliminationsTotal
Revenues:
Asset management and related administrative fees$3,838 $1 $720 $— $(25)$4,534 
Brokerage revenues:
Securities commissions:
Mutual and other fund products419 4 4 — (3)424 
Insurance and annuity products382 — — — — 382 
Equities, ETFs and fixed income products
313 101 — — (7)407 
Subtotal securities commissions1,114 105 4 — (10)1,213 
Principal transactions (1)
84 278 — 7 — 369 
Total brokerage revenues1,198 383 4 7 (10)1,582 
Account and service fees:
Mutual fund and annuity service fees339 — 7 — (1)345 
RJBDP fees1,088 4 — — (631)461 
Client account and other fees195 4 9 — (32)176 
Total account and service fees1,622 8 16 — (664)982 
Investment banking:
Merger & acquisition and advisory— 316 — — — 316 
Equity underwriting29 82 — — — 111 
Debt underwriting— 116 — — — 116 
Total investment banking29 514 — — — 543 
Other:
Affordable housing investments business revenues— 75 — — — 75 
All other (1)
23 3 2 31 (14)45 
Total other23 78 2 31 (14)120 
Total non-interest revenues6,710 984 742 38 (713)7,761 
Interest income (1)
361 81 10 2,607 100 3,159 
Total revenues7,071 1,065 752 2,645 (613)10,920 
Interest expense(88)(76)— (1,362)(35)(1,561)
Net revenues$6,983 $989 $752 $1,283 $(648)$9,359 

(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 millionsPrivate Client GroupCapital MarketsAsset ManagementBankOther and intersegment eliminationsTotal
Revenues:
Asset management and related administrative fees$3,319 $2 $620 $— $(24)$3,917 
Brokerage revenues:
Securities commissions:
Mutual and other fund products398 4 4 — (2)404 
Insurance and annuity products320 — — — — 320 
Equities, ETFs and fixed income products259 96 — — (2)353 
Subtotal securities commissions977 100 4 — (4)1,077 
Principal transactions (1)
81 274 — 11 (2)364 
Total brokerage revenues1,058 374 4 11 (6)1,441 
Account and service fees:
Mutual fund and annuity service fees306 — 1 — (1)306 
RJBDP fees1,200 3 — — (859)344 
Client account and other fees175 5 15 — (34)161 
Total account and service fees1,681 8 16 — (894)811 
Investment banking:
Merger & acquisition and advisory— 277 — — — 277 
Equity underwriting27 69 — — — 96 
Debt underwriting— 73 — — — 73 
Total investment banking27 419 — — — 446 
Other:
Affordable housing investments business revenues— 68 — — — 68 
All other (1)
40 1 2 33 (11)65 
Total other40 69 2 33 (11)133 
Total non-interest revenues6,125 872 642 44 (935)6,748 
Interest income (1)
340 65 7 2,251 66 2,729 
Total revenues6,465 937 649 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.
At June 30, 2024 and September 30, 2023, net receivables related to contracts with customers were $595 million and $519 million, respectively.