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Consolidated Statements of Earnings (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Revenues        
Investment banking $ 1,541 $ 3,548 $ 5,457 $ 10,564
Investment management 2,276 2,139 6,733 5,840
Commissions and fees 995 860 3,079 2,766
Market making 4,642 3,929 15,561 13,096
Other principal transactions 478 1,568 338 9,759
Total non-interest revenues 9,932 12,044 31,168 42,025
Interest income 8,550 3,117 16,613 9,110
Interest expense 6,507 1,553 11,009 4,435
Net interest income 2,043 1,564 5,604 4,675
Total net revenues 11,975 13,608 36,772 46,700
Provision for credit losses 515 175 1,743 13
Operating expenses        
Compensation and benefits 3,606 3,167 11,384 14,473
Transaction based 1,317 1,139 3,878 3,520
Market development 199 165 596 360
Communications and technology 459 397 1,327 1,143
Depreciation and amortization 666 509 1,728 1,527
Occupancy 255 239 765 727
Professional fees 465 433 1,392 1,137
Other expenses 737 542 2,003 1,781
Total operating expenses 7,704 6,591 23,073 24,668
Pre-tax earnings 3,756 6,842 11,956 22,019
Provision for taxes 687 1,464 2,021 4,319
Net earnings 3,069 5,378 9,935 17,700
Preferred stock dividends 107 94 356 358
Net earnings applicable to common shareholders $ 2,962 $ 5,284 $ 9,579 $ 17,342
Earnings per common share        
Basic (in dollars per share) $ 8.35 $ 15.14 $ 27.03 $ 49.23
Diluted (in dollars per share) $ 8.25 $ 14.93 $ 26.71 $ 48.59
Average common shares        
Basic (in shares) 352.8 348.3 353.0 351.8
Diluted (in shares) 359.2 353.9 358.6 356.9