Quarterly report [Sections 13 or 15(d)]

Consolidated Statement of Income

v3.25.3
Consolidated Statement of Income - USD ($)
shares in Millions, $ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Net interest income        
Interest income $ 35,366 $ 37,491 $ 104,305 $ 110,630
Interest expense 20,133 23,524 59,959 68,929
Net interest income 15,233 13,967 44,346 41,701
Noninterest income        
Fees and commissions 10,337 9,119 29,221 26,748
Market making and similar activities 3,203 3,278 9,940 10,464
Other income (loss) (685) (1,019) (1,590) (2,373)
Total noninterest income 12,855 11,378 37,571 34,839
Total revenue, net of interest expense 28,088 25,345 81,917 76,540
Provision for credit losses 1,295 1,542 4,367 4,369
Noninterest expense        
Compensation and benefits 10,523 9,916 31,744 29,937
Occupancy and equipment 1,872 1,836 5,564 5,465
Information processing and communications 1,827 1,784 5,540 5,347
Product delivery and transaction related 1,025 849 2,913 2,591
Professional fees 606 723 1,898 1,925
Marketing 572 504 1,641 1,446
Other general operating 912 867 2,990 3,314
Total noninterest expense 17,337 16,479 52,290 50,025
Income before income taxes 9,456 7,324 25,260 22,146
Income tax expense 987 428 2,279 1,679
Net income 8,469 6,896 22,981 20,467
Preferred stock dividends and other 429 516 1,126 1,363
Net income applicable to common shareholders $ 8,040 $ 6,380 $ 21,855 $ 19,104
Per common share information        
Earnings (in dollars per share) $ 1.08 $ 0.82 $ 2.89 $ 2.42
Diluted earnings (in dollars per share) $ 1.06 $ 0.81 $ 2.85 $ 2.40
Average common shares issued and outstanding (in shares) 7,466.0 7,818.0 7,574.5 7,894.7
Average diluted common shares issued and outstanding (in shares) 7,627.1 7,902.1 7,724.7 7,965.0