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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Noninterest Income        
Trust, Investment and Other Servicing Fees $ 1,096.3 $ 1,143.4 $ 2,159.9 $ 2,311.8
Foreign Exchange Trading Income 50.1 77.6 103.1 158.5
Treasury Management Fees 7.9 10.6 16.3 21.7
Security Commissions and Trading Income 36.1 32.8 70.8 69.0
Other Operating Income 55.2 45.6 102.0 86.7
Investment Security Gains (Losses), net 0.0 0.0 6.9 0.0
Total Noninterest Income 1,245.6 1,310.0 2,459.0 2,647.7
Net Interest Income        
Interest Income 1,735.0 524.8 3,190.4 908.3
Interest Expense 1,223.5 66.1 2,147.7 68.6
Net Interest Income 511.5 458.7 1,042.7 839.7
(Release of) Provision for Credit Losses (15.5) 4.5 (0.5) 6.5
Net Interest Income after Provision for Credit Losses 527.0 454.2 1,043.2 833.2
Noninterest Expense        
Compensation 604.5 546.5 1,199.7 1,110.4
Employee Benefits 101.4 119.6 202.4 223.9
Outside Services 230.9 213.1 441.7 426.5
Equipment and Software 229.3 203.5 461.0 397.0
Occupancy 53.8 51.0 115.1 102.1
Other Operating Expense 112.0 89.9 197.6 169.6
Total Noninterest Expense 1,331.9 1,223.6 2,617.5 2,429.5
Income before Income Taxes 440.7 540.6 884.7 1,051.4
Provision for Income Taxes 108.9 144.4 218.3 265.9
Net Income 331.8 396.2 666.4 785.5
Preferred Stock Dividends 4.7 4.7 20.9 20.9
Net Income Applicable to Common Stock $ 327.1 $ 391.5 $ 645.5 $ 764.6
Per Common Share        
Net Income — Basic (in dollars per share) $ 1.56 $ 1.86 $ 3.07 $ 3.64
Net Income - Diluted (in dollars per share) $ 1.56 $ 1.86 $ 3.07 $ 3.63
Average Number of Common Shares Outstanding        
Basic (in shares) 207,638,671 208,383,991 207,911,242 208,205,469
Diluted (in shares) 207,816,015 208,878,350 208,270,677 208,843,934