XML 14 R2.htm IDEA: XBRL DOCUMENT v3.20.2
Consolidated Statements of Earnings (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenues        
Investment banking $ 1,934 $ 1,587 $ 6,409 $ 4,966
Investment management 1,689 1,562 5,092 4,518
Commissions and fees 804 748 2,699 2,301
Market making 3,327 2,476 12,796 7,678
Other principal transactions 1,943 942 2,482 3,831
Total non-interest revenues 9,697 7,315 29,478 23,294
Interest income 2,932 5,459 10,716 16,816
Interest expense 1,848 4,451 7,375 13,519
Net interest income 1,084 1,008 3,341 3,297
Total net revenues 10,781 8,323 32,819 26,591
Provision for credit losses 278 291 2,805 729
Operating expenses        
Compensation and benefits 3,117 2,731 10,830 9,307
Brokerage, clearing, exchange and distribution fees 911 853 2,831 2,438
Market development 70 169 312 539
Communications and technology 340 283 1,006 859
Depreciation and amortization 468 473 1,404 1,240
Occupancy 235 252 706 711
Professional fees 298 350 956 950
Other expenses 765 505 5,031 1,556
Total operating expenses 6,204 5,616 23,076 17,600
Pre-tax earnings 4,299 2,416 6,938 8,262
Provision for taxes 932 539 1,985 1,713
Net earnings 3,367 1,877 4,953 6,549
Preferred stock dividends 134 84 400 376
Net earnings applicable to common shareholders $ 3,233 $ 1,793 $ 4,553 $ 6,173
Earnings per common share        
Basic $ 9.07 $ 4.83 $ 12.71 $ 16.43
Diluted $ 8.98 $ 4.79 $ 12.65 $ 16.32
Average common shares        
Basic 355.9 370.0 356.5 374.7
Diluted 359.9 374.3 360.0 378.2