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, 2021
Mar. 31, 2020
Net interest income    
Interest income $ 11,395 $ 16,098
Interest expense 1,198 3,968
Net interest income 10,197 12,130
Noninterest income    
Fees and commissions 9,536 8,321
Market making and similar activities 3,529 2,807
Other income (441) (491)
Total noninterest income 12,624 10,637
Total revenue, net of interest expense 22,821 22,767
Provision for credit losses (1,860) 4,761
Noninterest expense    
Compensation and benefits 9,736 8,341
Occupancy and equipment 1,830 1,702
Information processing and communications 1,425 1,209
Product delivery and transaction related 977 777
Marketing 371 438
Professional fees 403 375
Other general operating 773 633
Total noninterest expense 15,515 13,475
Income before income taxes 9,166 4,531
Income tax expense 1,116 521
Net income 8,050 4,010
Preferred stock dividends 490 469
Net income applicable to common shareholders $ 7,560 $ 3,541
Per common share information    
Earnings (in dollars per share) $ 0.87 $ 0.40
Diluted earnings (in dollars per share) $ 0.86 $ 0.40
Average common shares issued and outstanding (in shares) 8,700.1 8,815.6
Average diluted common shares issued and outstanding (in shares) 8,755.6 8,862.7