XML 68 R41.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Total Equity (Tables)
6 Months Ended
Jun. 30, 2024
Equity [Abstract]  
Schedule of Preferred Stock Outstanding and Preferred Stock Dividends
Preferred Stock
 Shares Outstanding Carrying Value
$ in millions, except per share dataAt
June 30,
2024
Liquidation
Preference
per Share
At
June 30,
2024
At
December 31,
2023
Series
A44,000 $25,000 $1,100 $1,100 
C1
519,882 1,000 408 408 
E34,500 25,000 862 862 
F34,000 25,000 850 850 
I40,000 25,000 1,000 1,000 
K40,000 25,000 1,000 1,000 
L20,000 25,000 500 500 
M400,000 1,000 430 430 
N3,000 100,000 300 300 
O52,000 25,000 1,300 1,300 
P40,000 25,000 1,000 1,000 
Total$8,750 $8,750 
Shares authorized30,000,000 
1.Series C preferred stock is held by MUFG.
Dividends
$ in millions, except per
share data
Three Months Ended
June 30, 2024
Three Months Ended
June 30, 2023
Per Share1
Total
Per Share1
Total
Preferred stock series
A$398 $18 $377 $17 
C25 13 25 13 
E450 16 445 16 
F434 14 430 15 
I398 16 398 16 
K366 14 366 14 
L305 6 305 
N3
2,285 7 2,051 
O266 14 266 14 
P406 16 406 16 
Total Preferred stock$134 $133 
Common stock$0.850 $1,377 $0.775 $1,292 
$ in millions, except per
share data
Six Months Ended
June 30, 2024
Six Months Ended
June 30, 2023
Per Share1
Total
Per Share1
Total
Preferred stock series
A$790 $35 $720 $32 
C50 26 50 26 
E896 31 891 31 
F869 29 859 29 
I797 32 797 32 
K731 29 731 29 
L609 12 609 12 
M2
29 12 29 12 
N3
4,511 14 4,701 14 
O531 28 531 28 
P813 32 813 32 
Total Preferred stock$280 $277 
Common stock$1.70 $2,767 $1.55 $2,597 
1.Common and Preferred Stock dividends are payable quarterly unless otherwise noted.
2.Series M is payable semiannually until September 15, 2026 and thereafter will be payable quarterly.
3. Series N was payable semiannually until March 15, 2023 and thereafter is payable quarterly.
Schedule of Share Repurchases
Share Repurchases
 Three Months Ended June 30,Six Months Ended June 30,
$ in millions2024202320242023
Repurchases of common stock under the Firm’s Share Repurchase Authorization$750 $1,000 $1,750 $2,500 
Schedule of Common Shares Outstanding for Basic and Diluted EPS
Common Shares Outstanding for Basic and Diluted EPS
 Three Months Ended
June 30,
Six Months Ended
June 30,
in millions2024202320242023
Weighted average common shares outstanding, basic1,594 1,635 1,597 1,640 
Effect of dilutive RSUs and PSUs17 16 17 17 
Weighted average common shares outstanding and common stock equivalents, diluted1,611 1,651 1,614 1,657 
Weighted average antidilutive common stock equivalents (excluded from the computation of diluted EPS)  
Schedule of Common Stock Dividends Per Share
Dividends
$ in millions, except per
share data
Three Months Ended
June 30, 2024
Three Months Ended
June 30, 2023
Per Share1
Total
Per Share1
Total
Preferred stock series
A$398 $18 $377 $17 
C25 13 25 13 
E450 16 445 16 
F434 14 430 15 
I398 16 398 16 
K366 14 366 14 
L305 6 305 
N3
2,285 7 2,051 
O266 14 266 14 
P406 16 406 16 
Total Preferred stock$134 $133 
Common stock$0.850 $1,377 $0.775 $1,292 
$ in millions, except per
share data
Six Months Ended
June 30, 2024
Six Months Ended
June 30, 2023
Per Share1
Total
Per Share1
Total
Preferred stock series
A$790 $35 $720 $32 
C50 26 50 26 
E896 31 891 31 
F869 29 859 29 
I797 32 797 32 
K731 29 731 29 
L609 12 609 12 
M2
29 12 29 12 
N3
4,511 14 4,701 14 
O531 28 531 28 
P813 32 813 32 
Total Preferred stock$280 $277 
Common stock$1.70 $2,767 $1.55 $2,597 
1.Common and Preferred Stock dividends are payable quarterly unless otherwise noted.
2.Series M is payable semiannually until September 15, 2026 and thereafter will be payable quarterly.
3. Series N was payable semiannually until March 15, 2023 and thereafter is payable quarterly.
Schedule of Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss)1
$ in millionsCTAAFS SecuritiesPension and OtherDVACash Flow HedgesTotal
March 31, 2024$(1,265)$(3,026)$(591)$(2,163)$(12)$(7,057)
OCI during the period(90)109 9 269  297 
June 30, 2024$(1,355)$(2,917)$(582)$(1,894)$(12)$(6,760)
March 31, 2023$(1,172)$(3,680)$(509)$(353)$$(5,711)
OCI during the period(27)(21)(1)(520)(20)(589)
June 30, 2023$(1,199)$(3,701)$(510)$(873)$(17)$(6,300)
December 31, 2023$(1,153)$(3,094)$(595)$(1,595)$16 $(6,421)
OCI during the period(202)177 13 (299)(28)(339)
June 30, 2024$(1,355)$(2,917)$(582)$(1,894)$(12)$(6,760)
December 31, 2022$(1,204)$(4,192)$(508)$(345)$(4)$(6,253)
OCI during the period491 (2)(528)(13)(47)
June 30, 2023$(1,199)$(3,701)$(510)$(873)$(17)$(6,300)
1.Amounts are net of tax and noncontrolling interests.
Schedule of Components of Period Changes in OCI
Components of Period Changes in OCI
Three Months Ended June 30, 2024
$ in millionsPre-tax Gain (Loss)Income Tax Benefit (Provision)After-tax Gain (Loss)Non-controlling InterestsNet
CTA
OCI activity$(59)$(83)$(142)$(52)$(90)
Reclassified to earnings     
Net OCI$(59)$(83)$(142)$(52)$(90)
Change in net unrealized gains (losses) on AFS securities
OCI activity$150 $(35)$115 $ $115 
Reclassified to earnings(7)1 (6) (6)
Net OCI$143 $(34)$109 $ $109 
Pension and other
OCI activity$5 $ $5 $ $5 
Reclassified to earnings5 (1)4  4 
Net OCI$10 $(1)$9 $ $9 
Change in net DVA
OCI activity$355 $(86)$269 $6 $263 
Reclassified to earnings7 (1)6  6 
Net OCI$362 $(87)$275 $6 $269 
Change in fair value of cash flow hedge derivatives
OCI activity $(12)$3 $(9)$ $(9)
Reclassified to earnings12 (3)9  9 
Net OCI$ $ $ $ $ 
Three Months Ended June 30, 2023
$ in millionsPre-tax Gain (Loss)Income Tax Benefit (Provision)After-tax Gain (Loss)Non-controlling InterestsNet
CTA
OCI activity$(88)$(23)$(111)$(84)$(27)
Reclassified to earnings— — — — — 
Net OCI$(88)$(23)$(111)$(84)$(27)
Change in net unrealized gains (losses) on AFS securities
OCI activity$(38)$10 $(28)$— $(28)
Reclassified to earnings10 (3)— 
Net OCI$(28)$$(21)$— $(21)
Pension and other
OCI activity$(1)$— $(1)$— $(1)
Reclassified to earnings— — — — — 
Net OCI$(1)$— $(1)$— $(1)
Change in net DVA
OCI activity$(704)$171 $(533)$(11)$(522)
Reclassified to earnings(1)— 
Net OCI$(701)$170 $(531)$(11)$(520)
Change in fair value of cash flow hedge derivatives
OCI activity$(25)$$(21)$— $(21)
Reclassified to earnings(1)— 
Net OCI$(23)$$(20)$— $(20)
Six Months Ended June 30, 2024
$ in millionsPre-tax Gain (Loss)Income Tax Benefit (Provision)After-tax Gain (Loss)Non-controlling InterestsNet
CTA
OCI activity$(129)$(186)$(315)$(113)$(202)
Reclassified to earnings     
Net OCI$(129)$(186)$(315)$(113)$(202)
Change in net unrealized gains (losses) on AFS securities
OCI activity$282 $(67)$215 $ $215 
Reclassified to earnings(50)12 (38) (38)
Net OCI$232 $(55)$177 $ $177 
Pension and other
OCI activity$5 $ $5 $ $5 
Reclassified to earnings10 (2)8  8 
Net OCI$15 $(2)$13 $ $13 
Change in net DVA
OCI activity$(396)$94 $(302)$11 $(313)
Reclassified to earnings17 (3)14  14 
Net OCI$(379)$91 $(288)$11 $(299)
Change in fair value of cash flow hedge derivatives
OCI activity $(59)$14 $(45)$ $(45)
Reclassified to earnings23 (6)17  17 
Net OCI$(36)$8 $(28)$ $(28)
Six Months Ended June 30, 2023
$ in millionsPre-tax Gain (Loss)Income Tax Benefit (Provision)After-tax Gain (Loss)Non-controlling InterestsNet
CTA
OCI activity$(98)$$(91)$(96)$
Reclassified to earnings— — — — — 
Net OCI$(98)$$(91)$(96)$
Change in net unrealized gains (losses) on AFS securities
OCI activity$672 $(157)$515 $— $515 
Reclassified to earnings(31)(24)— (24)
Net OCI$641 $(150)$491 $— $491 
Pension and other
OCI activity$(1)$— $(1)$— $(1)
Reclassified to earnings(1)— (1)— (1)
Net OCI$(2)$— $(2)$— $(2)
Change in net DVA
OCI activity$(734)$181 $(553)$(18)$(535)
Reclassified to earnings(2)— 
Net OCI$(725)$179 $(546)$(18)$(528)
Change in fair value of cash flow hedge derivatives
OCI activity$(18)$$(15)$— $(15)
Reclassified to earnings(1)— 
Net OCI$(15)$$(13)$— $(13)