Commitments, Leases, Guarantees and Contingencies (Tables)

6 Months Ended

Jun. 30, 2019

Commitments, Leases, Guarantees and Contingencies [Abstract]

Schedule of Commitments

Commitments

	Years to Maturity at June 30, 2019
$ in millions	Less than 1		1-3		3-5		Over 5		Total
Lending:
Corporate	$	29,788	$	33,262	$	47,590	$	7,109	$	117,749
Consumer	7,522		1		11		—		7,534
Residential and commercial real estate	85		466		11		477		1,039
Forward-starting secured financing receivables	109,906		—		—		8,556		118,462
Underwriting	1,104		—		—		—		1,104
Investment activities	537		121		39		249		946
Letters of credit and other financial guarantees	186		1		—		2		189
Total	$	149,128	$	33,851	$	47,651	$	16,393	$	247,023
Corporate lending commitments participated to third parties									$	7,998
Forward-starting secured financing receivables settled within three business days									$	97,767

Schedule of Balance Sheet Amounts Related to Leases

Balance Sheet Amounts Related to Leases

$ in millions	At June 30, 2019
Other assets—ROU assets	$	3,859
Other liabilities and accrued expenses—
Lease liabilities	4,595
Weighted average:
Remaining lease term, in years	9.8
Discount rate	3.7		%

Schedule of Lease Liabilities

Lease Liabilities

$ in millions	At June 30, 2019
Remainder of 2019	$	366
2020	716
2021	653
2022	599
2023	548
Thereafter	2,816
Total undiscounted cash flows	$	5,698
Imputed interest	(1,103		)
Amount on balance sheet	$	4,595

Schedule of Lease Cost

Lease Costs

$ in millions	Three Months Ended June 30, 2019			Six Months Ended June 30, 2019
Fixed costs	$	156		$	326
Variable costs1	48			82
Less: Sublease income	(1		)	(2		)
Total lease cost, net	203			406

1.

Includes common area maintenance charges and other variable costs not included in the measurement of ROU assets and lease liabilities.

Schedule of Cash Flows Statement Supplemental Information

Cash Flows Statement Supplemental Information

$ in millions	Three Months Ended June 30, 2019		Six Months Ended June 30, 2019
Cash outflows—Lease liabilities	$	167	$	332
Non-cash—ROU assets recorded for new and modified leases	71		111

Schedule of Minimum Future Lease Commitments (under Previous GAAP)

Minimum Future Lease Commitments (under Previous GAAP)

$ in millions	At December 31, 2018
2019	$	677
2020	657
2021	602
2022	555
2023	507
Thereafter	2,639
Total undiscounted cash flows	$	5,637
Minimum rental income to be received in the future under non-cancelable operating subleases	$	7

Schedule of Obligations under Guarantee Arrangements

Obligations under Guarantee Arrangements at June 30, 2019

	Maximum Potential Payout/Notional
	Years to Maturity
$ in millions	Less than 1		1-3		3-5		Over 5		Total
Credit derivatives	$	36,335	$	44,060	$	80,905	$	31,704	$	193,004
Other credit contracts	—		—		7		116		123
Non-credit derivatives	1,715,336		1,504,933		452,278		669,229		4,341,776
Standby letters of credit and other financial guarantees issued1	1,255		889		1,357		4,193		7,694
Market value guarantees	95		96		3		—		194
Liquidity facilities	4,501		—		—		—		4,501
Whole loan sales guarantees	—		1		—		23,192		23,193
Securitization representations and warranties	—		—		—		68,120		68,120
General partner guarantees	63		129		6		44		242
Client clearing guarantees	1,947		—		—		—		1,947

$ in millions	Carrying Amount Asset (Liability)			Collateral/ Recourse
Credit derivatives2	$	484		$	—
Other credit contracts	(11		)	—
Non-credit derivatives2	(56,357		)	—
Standby letters of credit and other financial guarantees issued1	231			6,163
Market value guarantees	—			90
Liquidity facilities	6			7,793
Whole loan sales guarantees	(4		)	—
Securitization representations and warranties3	(42		)	—
General partner guarantees	(53		)	—
Client clearing guarantees	—			1,946

1. These amounts include certain issued standby letters of credit participated to third parties, totaling $0.6 billion of notional and collateral/recourse, due to the nature of the Firm’s obligations under these arrangements.

2. Carrying amounts of derivative contracts are shown on a gross basis prior to cash collateral or counterparty netting. For further information on derivative contracts, see Note 4.

3.

Primarily related to residential mortgage securitizations.