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

Consolidated Balance Sheet

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Consolidated Balance Sheet - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Assets    
Cash and due from banks $ 26,003 $ 27,892
Interest-bearing deposits with the Federal Reserve, non-U.S. central banks and other banks 264,111 305,181
Cash and cash equivalents 290,114 333,073
Time deposits placed and other short-term investments 6,372 8,346
Federal funds sold and securities borrowed or purchased under agreements to resell (includes $144,501 and $133,053 measured at fair value) 274,709 280,624
Trading account assets (includes $170,328 and $130,815 pledged as collateral) 314,460 277,354
Derivative assets 40,948 39,323
Debt securities:    
Carried at fair value 358,607 276,852
Held-to-maturity, at cost (fair value $450,548 and $496,597) 558,677 594,555
Total debt securities 917,284 871,407
Loans and leases (includes $4,249 and $3,569 measured at fair value) 1,095,835 1,053,732
Allowance for loan and lease losses (13,240) (13,342)
Loans and leases, net of allowance 1,082,595 1,040,390
Premises and equipment, net 12,168 11,855
Goodwill 69,021 69,021
Loans held-for-sale (includes $2,214 and $2,059 measured at fair value) 9,545 6,002
Customer and other receivables 82,247 81,881
Other assets (includes $13,176 and $11,861 measured at fair value) 162,056 160,875
Total assets 3,261,519 3,180,151
Deposits in U.S. offices:    
Noninterest-bearing 507,561 530,619
Interest-bearing (includes $310 and $284 measured at fair value) 1,329,014 1,273,904
Deposits in non-U.S. offices:    
Noninterest-bearing 16,297 16,427
Interest-bearing 112,595 102,877
Total deposits 1,965,467 1,923,827
Federal funds purchased and securities loaned or sold under agreements to repurchase (includes $192,859 and $178,609 measured at fair value) 331,758 283,887
Trading account liabilities 92,543 95,530
Derivative liabilities 39,353 43,432
Short-term borrowings (includes $6,245 and $4,690 measured at fair value) 43,391 32,098
Accrued expenses and other liabilities (includes $13,199 and $11,473 measured at fair value and $1,096 and $1,209 of reserve for unfunded lending commitments) 210,169 207,527
Long-term debt (includes $50,005 and $42,809 measured at fair value) 283,279 302,204
Total liabilities 2,965,960 2,888,505
Commitments and contingencies (Note 6 – Securitizations and Other Variable Interest Entities and Note 12 – Commitments and Contingencies)
Shareholders’ equity    
Preferred stock, $0.01 par value; authorized – 100,000,000 shares; issued and outstanding – 3,877,917 and 4,088,099 shares 23,159 28,397
Common stock and additional paid-in capital, $0.01 par value; authorized – 12,800,000,000 shares; issued and outstanding – 7,610,862,311 and 7,895,457,665 shares 45,336 56,365
Retained earnings 242,349 224,672
Accumulated other comprehensive income (loss) (15,285) (17,788)
Total shareholders’ equity 295,559 291,646
Total liabilities and shareholders’ equity 3,261,519 3,180,151
Consolidated VIEs    
Assets    
Trading account assets (includes $170,328 and $130,815 pledged as collateral) 5,575 6,054
Debt securities:    
Loans and leases (includes $4,249 and $3,569 measured at fair value) 19,144 18,276
Allowance for loan and lease losses (919) (826)
Loans and leases, net of allowance 18,225 17,450
Other assets (includes $13,176 and $11,861 measured at fair value) 319 269
Total assets 24,119 23,773
Deposits in non-U.S. offices:    
Short-term borrowings (includes $6,245 and $4,690 measured at fair value) 3,329 2,957
Long-term debt (includes $50,005 and $42,809 measured at fair value) 8,457 8,456
All other liabilities (includes $21 and $19 of non-recourse liabilities) 21 19
Total liabilities $ 11,807 $ 11,432