XML 33 R3.htm IDEA: XBRL DOCUMENT v3.24.0.1
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Interest income:      
Loans, including loans held for sale $ 37,410 $ 28,910 $ 24,263
Investment securities 2,550 1,884 1,446
Other 1,978 443 60
Total interest income 41,938 31,237 25,769
Interest expense:      
Deposits 9,489 2,535 956
Securitized debt obligations 959 384 119
Senior and subordinated notes 2,204 1,074 488
Other borrowings 45 130 35
Total interest expense 12,697 4,123 1,598
Net interest income 29,241 27,114 24,171
Provision for credit losses 10,426 5,847 (1,944)
Net interest income after provision for credit losses 18,815 21,267 26,115
Non-interest income:      
Interchange fees, net 4,793 4,606 3,860
Service charges and other customer-related fees 1,667 1,625 1,578
Net securities gains (losses) (34) (9) 2
Other 1,120 914 824
Total non-interest income 7,546 7,136 6,264
Non-interest expense:      
Salaries and associate benefits 9,302 8,425 7,421
Occupancy and equipment 2,160 2,050 2,003
Marketing 4,009 4,017 2,871
Professional services 1,268 1,807 1,440
Communications and data processing 1,383 1,379 1,262
Amortization of intangibles 82 70 29
Other 2,112 1,415 1,544
Total non-interest expense 20,316 19,163 16,570
Income from continuing operations before income taxes 6,045 9,240 15,809
Income tax provision 1,158 1,880 3,415
Income (loss) from continuing operations, net of tax 4,887 7,360 12,394
Income (loss) from discontinued operations, net of tax 0 0 (4)
Net income 4,887 7,360 12,390
Dividends and undistributed earnings allocated to participating securities (77) (88) (105)
Preferred stock dividends (228) (228) (274)
Issuance cost for redeemed preferred stock 0 0 (46)
Net income available to common stockholders $ 4,582 $ 7,044 $ 11,965
Basic earnings per common share:      
Net income from continuing operations (in dollars per share) $ 11.98 $ 17.98 $ 27.05
Income (loss) from discontinued operations (in dollars per share) 0.00 0.00 (0.01)
Net income per basic common share (in dollars per share) 11.98 17.98 27.04
Diluted earnings per common share:      
Net income from continuing operations (in dollars per share) 11.95 17.91 26.95
Income (loss) from discontinued operations (in dollars per share) 0.00 0.00 (0.01)
Net income per diluted common share (in dollars per share) $ 11.95 $ 17.91 $ 26.94