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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Noninterest Income        
Trust, Investment and Other Servicing Fees $ 1,111.9 $ 1,078.7 $ 3,271.8 $ 3,390.5
Foreign Exchange Trading Income 51.8 64.7 154.9 223.2
Treasury Management Fees 7.5 9.3 23.8 31.0
Security Commissions and Trading Income 30.9 32.1 101.7 101.1
Other Operating Income 68.2 57.3 170.2 144.0
Investment Security Gains (Losses), net 0.0 (0.3) 6.9 (0.3)
Total Noninterest Income 1,270.3 1,241.8 3,729.3 3,889.5
Net Interest Income        
Interest Income 1,935.0 799.3 5,125.4 1,707.6
Interest Expense 1,478.8 286.3 3,626.5 354.9
Net Interest Income 456.2 513.0 1,498.9 1,352.7
Provision for Credit Losses 14.0 0.5 13.5 7.0
Net Interest Income after Provision for Credit Losses 442.2 512.5 1,485.4 1,345.7
Noninterest Expense        
Compensation 558.1 553.3 1,757.8 1,663.7
Employee Benefits 100.8 109.9 303.2 333.8
Outside Services 229.6 220.9 671.3 647.4
Equipment and Software 232.5 212.4 693.5 609.4
Occupancy 58.7 51.3 173.8 153.4
Other Operating Expense 98.5 82.0 296.1 251.6
Total Noninterest Expense 1,278.2 1,229.8 3,895.7 3,659.3
Income before Income Taxes 434.3 524.5 1,319.0 1,575.9
Provision for Income Taxes 106.5 129.7 324.8 395.6
Net Income 327.8 394.8 994.2 1,180.3
Preferred Stock Dividends 16.2 16.2 37.1 37.1
Net Income Applicable to Common Stock $ 311.6 $ 378.6 $ 957.1 $ 1,143.2
Per Common Share        
Net Income — Basic (in dollars per share) $ 1.49 $ 1.80 $ 4.56 $ 5.44
Net Income - Diluted (in dollars per share) $ 1.49 $ 1.80 $ 4.56 $ 5.43
Average Number of Common Shares Outstanding        
Basic (in shares) 207,021,554 208,400,135 207,611,420 208,271,070
Diluted (in shares) 207,252,992 208,888,572 207,927,720 208,858,976