Quarterly report [Sections 13 or 15(d)]

Consolidated Statement of Income

v3.25.1
Consolidated Statement of Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Net interest income    
Interest income $ 34,066 $ 36,285
Interest expense 19,623 22,253
Net interest income 14,443 14,032
Noninterest income    
Fees and commissions 9,415 8,660
Market making and similar activities 3,584 3,888
Other income (loss) (76) (762)
Total noninterest income 12,923 11,786
Total revenue, net of interest expense 27,366 25,818
Provision for credit losses 1,480 1,319
Noninterest expense    
Compensation and benefits 10,889 10,195
Information processing and communications 1,894 1,800
Occupancy and equipment 1,856 1,811
Product delivery and transaction related 914 851
Professional fees 652 548
Marketing 506 455
Other general operating 1,059 1,577
Total noninterest expense 17,770 17,237
Income before income taxes 8,116 7,262
Income tax expense 720 588
Net income 7,396 6,674
Preferred stock dividends 406 532
Net income applicable to common shareholders $ 6,990 $ 6,142
Per common share information    
Earnings (in dollars per share) $ 0.91 $ 0.77
Diluted earnings (in dollars per share) $ 0.90 $ 0.76
Average common shares issued and outstanding (in shares) 7,677.9 7,968.2
Average diluted common shares issued and outstanding (in shares) 7,770.8 8,031.4