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Consolidated Statements of Earnings (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Revenues    
Investment banking $ 1,742 $ 1,618
Investment management 1,768 1,436
Commissions and fees 1,020 745
Market making 3,682 2,723
Other principal transactions (782) 1,067
Total non-interest revenues 7,430 7,589
Interest income 4,750 5,597
Interest expense 3,437 4,379
Net interest income 1,313 1,218
Total net revenues 8,743 8,807
Provision for credit losses 937 224
Operating expenses    
Compensation and benefits 3,235 3,259
Brokerage, clearing, exchange and distribution fees 975 762
Market development 153 184
Communications and technology 321 286
Depreciation and amortization 437 368
Occupancy 238 225
Professional fees 347 298
Other expenses 752 482
Total operating expenses 6,458 5,864
Pre-tax earnings 1,348 2,719
Provision for taxes 135 468
Net earnings 1,213 2,251
Preferred stock dividends 90 69
Net earnings applicable to common shareholders $ 1,123 $ 2,182
Earnings per common share    
Basic $ 3.12 $ 5.73
Diluted $ 3.11 $ 5.71
Average common shares    
Basic 358.0 379.8
Diluted 361.1 382.4