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Condensed Consolidated Statements of Earnings (Unaudited) (USD $)
In Millions, except Per Share data
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
Revenues        
Investment banking $ 1,448 $ 941 $ 2,717 $ 2,144
Investment management 1,188 1,046 2,362 2,054
Commissions and fees 894 978 1,913 1,858
Market making 1,736 2,850 6,198 9,235
Other principal transactions 602 1,407 3,214 3,288
Total non-interest revenues 5,868 7,222 16,404 18,579
Interest income 3,681 3,302 6,788 6,303
Interest expense 2,268 1,683 4,017 3,266
Net interest income 1,413 1,619 2,771 3,037
Net revenues, including net interest income 7,281 8,841 19,175 21,616
Operating expenses        
Compensation and benefits 3,204 3,802 8,437 9,295
UK bank payroll tax 0 600 0 600
Brokerage, clearing, exchange and distribution fees 615 622 1,235 1,184
Market development 183 116 362 226
Communications and technology 210 186 408 362
Depreciation and amortization 372 437 962 809
Occupancy 252 274 519 530
Professional fees 263 227 496 409
Other expenses 570 1,129 1,104 1,594
Total non-compensation expenses 2,465 2,991 5,086 5,114
Total operating expenses 5,669 7,393 13,523 15,009
Pre-tax earnings 1,612 1,448 5,652 6,607
Provision for taxes 525 835 1,830 2,538
Net earnings 1,087 613 3,822 4,069
Preferred stock dividends 35 160 1,862 320
Net earnings applicable to common shareholders $ 1,052 $ 453 $ 1,960 $ 3,749
Earnings per common share        
Basic $ 1.96 $ 0.82 $ 3.62 $ 6.87
Diluted $ 1.85 $ 0.78 $ 3.40 $ 6.41
Dividends declared per common share $ 0.35 $ 0.35 $ 0.70 $ 0.70
Average common shares outstanding        
Basic 531.9 539.8 536.2 542.9
Diluted 569.5 580.4 576.4 585.2