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CONSOLIDATED STATEMENT OF INCOME - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Revenues      
Interest and Dividend Income, Operating $ 133,258 $ 74,408 $ 50,475
Interest expense 78,358 25,740 7,981
Net interest income 54,900 48,668 42,494
Commissions and fees 8,905 9,175 13,672
Principal transactions 10,948 14,159 10,154
Administration and other fiduciary fees 3,781 3,784 3,943
Realized gains on sales of investments, net 188 67 665
Impairment losses on investments:      
Impairment losses on investments (323) (499) (206)
Provision for credit losses on AFS debt securities [1] (4) 5 (3)
Net impairment losses recognized in earnings (327) (494) (209)
Other revenue 67 (21) 1,165
Total non-interest revenues 23,562 26,670 29,390
Total revenues, net of interest expense 78,462 75,338 71,884
Provisions for credit losses and for benefits and claims      
Provision for credit losses on loans 7,786 4,745 (3,103)
Provision for credit losses on HTM debt securities (24) 33 (3)
Provision for credit losses on other assets 1,762 76 0
Policyholder benefits and claims 87 94 116
Provision for credit losses on unfunded lending commitments (425) 291 (788)
Total provisions for credit losses and for benefits and claims [2] 9,186 5,239 (3,778)
Operating expenses      
Compensation and benefits 29,232 26,655 25,134
Premises and equipment 2,508 2,320 2,314
Technology/communication 9,106 8,587 7,828
Advertising and marketing 1,393 1,556 1,490
Restructuring 781 0 0
Other operating 13,346 12,174 11,427
Total operating expenses 56,366 51,292 48,193
Income from continuing operations before income taxes 12,910 18,807 27,469
Provision (benefit) for income taxes 3,528 3,642 5,451
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest, Total 9,382 15,165 22,018
Discontinued operations      
Income (loss) from discontinued operations (1) (272) 7
Benefit for income taxes 0 (41) 0
Income (loss) from discontinued operations, net of taxes (1) (231) 7
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Total 9,381 14,934 22,025
Net Income (Loss) Attributable to Noncontrolling Interest 153 89 73
Net income $ 9,228 $ 14,845 $ 21,952
Basic earnings per share      
Income from continuing operations (in dollars per share) [3] $ 4.07 $ 7.16 $ 10.21
Loss from discontinued operations, net of taxes (in dollars per share) [3] 0 (0.12) 0
Net income (in dollars per share) [3] $ 4.07 $ 7.04 $ 10.21
Weighted-average common shares outstanding (in shares) 1,930.1 1,946.7 2,033.0
Diluted earnings per share      
Income from continuing operations (in dollars per share) [3] $ 4.04 $ 7.11 $ 10.14
Loss from discontinued operations, net of taxes (in dollars per share) [3] 0 (0.12) 0
Net income (in dollars per share) [3] $ 4.04 $ 7.00 $ 10.14
Adjusted weighted-average common shares outstanding (in shares) 1,955.8 1,964.3 2,049.4
[1] In accordance with ASC 326, which requires the provision for credit losses on AFS securities to be included in revenue.
[2] This total excludes the provision for credit losses on AFS securities, which is disclosed separately above.
[3] Due to rounding, earnings per share on continuing operations and discontinued operations may not sum to earnings per share on net income.