XML 27 R5.htm IDEA: XBRL DOCUMENT v3.24.0.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
INTEREST INCOME:      
Interest and fees on loans and leases $ 8,489 $ 5,968 $ 4,253
Interest and fees on loans held for sale 73 67 82
Interest and fees on other loans held for sale 29 57 13
Investment securities 1,162 840 487
Interest-bearing deposits in banks 451 128 16
Total interest income 10,204 7,060 4,851
INTEREST EXPENSE:      
Deposits 3,145 651 160
Short-term borrowed funds 43 23 1
Long-term borrowed funds 775 374 178
Total interest expense 3,963 1,048 339
Net interest income 6,241 6,012 4,512
Provision (benefit) for credit losses 687 474 (411)
Net interest income after provision (benefit) for credit losses 5,554 5,538 4,923
NONINTEREST INCOME:      
Service charges and fees 410 420 409
Capital markets fees 319 368 428
Card fees 296 273 250
Trust and investment services fees 259 249 239
Mortgage banking fees 242 261 434
Foreign exchange and derivative products 183 188 120
Letter of credit and loan fees 168 159 156
Securities gains, net 28 9 10
Other income 78 82 89
Total noninterest income 1,983 2,009 2,135
NONINTEREST EXPENSE:      
Salaries and employee benefits 2,599 2,549 2,132
Equipment and software 756 648 610
Outside services 687 700 595
Occupancy 492 410 333
Other operating expense 973 585 411
Total noninterest expense 5,507 4,892 4,081
Income before income tax expense 2,030 2,655 2,977
Income tax expense 422 582 658
NET INCOME 1,608 2,073 2,319
Net income available to common stockholders $ 1,491 $ 1,960 $ 2,206
Weighted-average common shares outstanding:      
Basic (in shares) 475,089,384 475,959,815 425,669,451
Diluted (in shares) 476,693,148 477,803,142 427,435,818
Per common share information:      
Basic earnings (in dollars per share) $ 3.14 $ 4.12 $ 5.18
Diluted earnings (in dollars per share) $ 3.13 $ 4.10 $ 5.16