Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statement of Income

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Consolidated Statement of Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Net interest income    
Interest income $ 16,098 $ 18,170
Interest expense 3,968 5,795
Net interest income 12,130 12,375
Noninterest income    
Fees and commissions 8,321 7,838
Market making and similar activities 2,807 2,768
Other income (491) 23
Total noninterest income 10,637 10,629
Total revenue, net of interest expense 22,767 23,004
Provision for credit losses 4,761 1,013
Noninterest expense    
Compensation and benefits 8,341 8,249
Occupancy and equipment 1,702 1,605
Information processing and communications 1,209 1,164
Product delivery and transaction related 777 662
Marketing 438 442
Professional fees 375 360
Other general operating 633 742
Total noninterest expense 13,475 13,224
Income before income taxes 4,531 8,767
Income tax expense 521 1,456
Net income 4,010 7,311
Preferred stock dividends 469 442
Net income applicable to common shareholders $ 3,541 $ 6,869
Per common share information    
Earnings (in dollars per share) $ 0.40 $ 0.71
Diluted earnings (in dollars per share) $ 0.40 $ 0.70
Average common shares issued and outstanding (in shares) 8,815.6 9,725.9
Average diluted common shares issued and outstanding (in shares) 8,862.7 9,787.3