Annual report [Section 13 and 15(d), not S-K Item 405]

Consolidated Statement of Income

v3.25.4
Consolidated Statement of Income - USD ($)
shares in Millions, $ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Net interest income      
Interest income $ 138,566 $ 146,607 $ 130,262
Interest expense 78,470 90,547 73,331
Net interest income 60,096 56,060 56,931
Noninterest income      
Fees and commissions 39,402 36,291 32,009
Market making and similar activities 12,014 12,967 12,732
Other income (loss) 1,585 538 1,097
Total noninterest income 53,001 49,796 45,838
Total revenue, net of interest expense 113,097 105,856 102,769
Provision for credit losses 5,675 5,821 4,394
Noninterest expense      
Compensation and benefits 42,346 40,182 38,330
Information processing and communications 7,453 7,231 6,707
Occupancy and equipment 7,448 7,289 7,164
Product delivery and transaction related 3,924 3,494 3,608
Professional fees 2,580 2,669 2,159
Marketing 2,204 1,956 1,927
Other general operating 3,772 3,991 5,950
Total noninterest expense 69,727 66,812 65,845
Income before income taxes 37,695 33,223 32,530
Income tax expense 7,186 6,250 6,225
Net income 30,509 26,973 26,305
Preferred stock dividends 1,454 1,629 1,649
Net income applicable to common shareholders $ 29,055 $ 25,344 $ 24,656
Per common share information      
Earnings (in dollars per share) $ 3.86 $ 3.23 $ 3.07
Diluted earnings (in dollars per share) $ 3.81 $ 3.19 $ 3.05
Average common shares issued and outstanding (in shares) 7,521.9 7,855.5 8,028.6
Average diluted common shares issued and outstanding (in shares) 7,680.9 7,935.8 8,080.5