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Consolidated Statements of Earnings (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenues        
Investment banking $ 1,555 $ 1,544 $ 4,565 $ 5,487
Investment management 2,409 2,283 7,054 6,747
Commissions and fees 883 992 2,864 3,066
Market making 4,958 4,641 14,742 15,583
Other principal transactions 465 472 699 285
Total non-interest revenues 10,270 9,932 29,924 31,168
Interest income 18,257 8,550 50,031 16,613
Interest expense 16,710 6,507 45,019 11,009
Net interest income 1,547 2,043 5,012 5,604
Total net revenues 11,817 11,975 34,936 36,772
Provision for credit losses 7 515 451 1,743
Operating expenses        
Compensation and benefits 4,188 3,606 11,897 11,384
Transaction based 1,452 1,317 4,242 3,878
Market development 136 199 454 596
Communications and technology 468 459 1,416 1,327
Depreciation and amortization 1,512 666 4,076 1,728
Occupancy 267 255 785 765
Professional fees 377 465 1,152 1,392
Other expenses 654 737 1,978 2,003
Total operating expenses 9,054 7,704 26,000 23,073
Pre-tax earnings 2,756 3,756 8,485 11,956
Provision for taxes 698 687 1,977 2,021
Net earnings 2,058 3,069 6,508 9,935
Preferred stock dividends 176 107 468 356
Net earnings applicable to common shareholders $ 1,882 $ 2,962 $ 6,040 $ 9,579
Earnings per common share        
Basic (in dollars per share) $ 5.52 $ 8.35 $ 17.52 $ 27.03
Diluted (in dollars per share) $ 5.47 $ 8.25 $ 17.39 $ 26.71
Average common shares        
Basic (in shares) 338.7 352.8 342.5 353.0
Diluted (in shares) 343.9 359.2 347.4 358.6