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Consolidated Statement of Income - USD ($)
shares in Thousands, $ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Fee revenue:      
Servicing fees $ 5,016 $ 4,922 $ 5,087
Management fees 2,124 1,876 1,939
Foreign exchange trading services 1,401 1,265 1,376
Securities finance 438 426 416
Software and processing fees 888 811 789
Other fee revenue 289 180 (1)
Total fee revenue 10,156 9,480 9,606
Net interest income:      
Interest income 11,977 9,180 4,088
Interest expense 9,054 6,421 1,544
Net interest income 2,923 2,759 2,544
Other income:      
Gains (losses) from sales of available-for-sale securities, net (79) (294) (2)
Total other income (79) (294) (2)
Total revenue 13,000 11,945 12,148
Provision for credit losses 75 46 20
Expenses:      
Compensation and employee benefits 4,697 4,744 4,428
Information systems and communications 1,829 1,703 1,630
Transaction processing services 998 957 971
Occupancy 437 426 394
Acquisition and restructuring costs 0 (15) 65
Amortization of other intangible assets 230 239 238
Other 1,339 1,529 1,075
Total expenses 9,530 9,583 8,801
Income before income tax expense 3,395 2,316 3,327
Income tax expense 708 372 553
Net income 2,687 1,944 2,774
Net income available to common shareholders -basic 2,483 1,821 2,660
Net income available to common shareholders - diluted $ 2,483 $ 1,821 $ 2,660
Earnings per common share:      
Basic (in USD per share) $ 8.33 $ 5.65 $ 7.28
Diluted (in USD per share) $ 8.21 $ 5.58 $ 7.19
Average common shares outstanding (in thousands):      
Basic (in shares) 297,883 322,337 365,214
Diluted (in shares) 302,226 326,568 370,109
Cash dividends declared (in USD per share) $ 2.90 $ 2.64 $ 2.40