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Condensed Consolidated Statements of Earnings (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Revenues    
Investment banking $ 1,703 $ 1,463
Investment management 1,397 1,262
Commissions and fees 771 917
Market making 2,418 1,862
Other principal transactions 1,221 (49)
Total non-interest revenues 7,510 5,455
Interest income 2,746 2,348
Interest expense 2,230 1,465
Net interest income 516 883
Net revenues, including net interest income 8,026 6,338
Operating expenses    
Compensation and benefits 3,291 2,662
Brokerage, clearing, exchange and distribution fees 615 691
Market development 134 122
Communications and technology 223 197
Depreciation and amortization 257 239
Occupancy 176 183
Professional fees 205 220
Other expenses 586 448
Total non-compensation expenses 2,196 2,100
Total operating expenses 5,487 4,762
Pre-tax earnings 2,539 1,576
Provision for taxes 284 441
Net earnings 2,255 1,135
Preferred stock dividends 93 (65)
Net earnings applicable to common shareholders $ 2,162 $ 1,200
Earnings per common share    
Basic $ 5.23 $ 2.71
Diluted 5.15 2.68
Dividends declared per common share $ 0.65 $ 0.65
Average common shares    
Basic 412.5 440.8
Diluted 420.1 447.4