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Consolidated Statements of Earnings - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Revenues      
Investment banking $ 6,798 $ 7,430 $ 7,076
Investment management 6,189 6,590 5,867
Commissions and fees 2,988 3,199 3,051
Market making 10,157 9,724 7,853
Other principal transactions 6,052 5,906 5,951
Total non-interest revenues 32,184 32,849 29,798
Interest income 21,738 19,679 13,113
Interest expense 17,376 15,912 10,181
Net interest income 4,362 3,767 2,932
Total net revenues 36,546 36,616 32,730
Provision for credit losses 1,065 674 657
Operating expenses      
Compensation and benefits 12,353 12,328 11,653
Brokerage, clearing, exchange and distribution fees 3,252 3,200 2,876
Market development 739 740 588
Communications and technology 1,167 1,023 897
Depreciation and amortization 1,704 1,328 1,152
Occupancy 1,029 809 733
Professional fees 1,316 1,214 1,165
Other expenses 3,338 2,819 1,877
Total operating expenses 24,898 23,461 20,941
Pre-tax earnings 10,583 12,481 11,132
Provision for taxes 2,117 2,022 6,846
Net earnings 8,466 10,459 4,286
Preferred stock dividends 569 599 601
Net earnings applicable to common shareholders $ 7,897 $ 9,860 $ 3,685
Earnings per common share      
Basic $ 21.18 $ 25.53 $ 9.12
Diluted $ 21.03 $ 25.27 $ 9.01
Average common shares      
Basic 371.6 385.4 401.6
Diluted 375.5 390.2 409.1