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Condensed Consolidated Statements of Earnings (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Revenues        
Investment banking $ 1,537 $ 1,556 $ 4,787 $ 5,480
Investment management 1,386 1,331 3,908 4,400
Commissions and fees 753 859 2,447 2,517
Market making 2,715 1,730 7,067 7,964
Other principal transactions 1,163 543 1,978 3,822
Total non-interest revenues 7,554 6,019 20,187 24,183
Interest income 2,389 2,119 7,267 6,304
Interest expense 1,775 1,277 5,016 3,940
Net interest income 614 842 2,251 2,364
Net revenues, including net interest income 8,168 6,861 22,438 26,547
Operating expenses        
Compensation and benefits 3,207 2,351 9,200 10,619
Brokerage, clearing, exchange and distribution fees 613 665 1,929 1,950
Market development 92 123 326 409
Communications and technology 207 200 609 601
Depreciation and amortization 247 222 731 706
Occupancy 245 182 609 572
Professional fees 222 253 673 714
Other expenses 467 819 1,454 3,270
Total non-compensation expenses 2,093 2,464 6,331 8,222
Total operating expenses 5,300 4,815 15,531 18,841
Pre-tax earnings 2,868 2,046 6,907 7,706
Provision for taxes 774 620 1,856 2,388
Net earnings 2,094 1,426 5,051 5,318
Preferred stock dividends (6) 96 117 324
Net earnings applicable to common shareholders $ 2,100 $ 1,330 $ 4,934 $ 4,994
Earnings per common share        
Basic $ 4.96 $ 2.95 $ 11.40 $ 11.03
Diluted 4.88 2.90 11.24 10.84
Dividends declared per common share $ 0.65 $ 0.65 $ 1.95 $ 1.90
Average common shares        
Basic 422.4 449.0 431.5 451.2
Diluted 430.2 458.6 438.8 460.9