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, 2022
Mar. 31, 2021
Net interest income    
Interest income $ 12,894 $ 11,395
Interest expense 1,322 1,198
Net interest income 11,572 10,197
Noninterest income    
Fees and commissions 8,985 9,536
Market making and similar activities 3,238 3,529
Other income (567) (441)
Total noninterest income 11,656 12,624
Total revenue, net of interest expense 23,228 22,821
Provision for credit losses 30 (1,860)
Noninterest expense    
Compensation and benefits 9,482 9,736
Occupancy and equipment 1,760 1,830
Information processing and communications 1,540 1,425
Product delivery and transaction related 933 977
Marketing 397 371
Professional fees 450 403
Other general operating 757 773
Total noninterest expense 15,319 15,515
Income before income taxes 7,879 9,166
Income tax expense 812 1,116
Net income 7,067 8,050
Preferred stock dividends 467 490
Net income applicable to common shareholders $ 6,600 $ 7,560
Per common share information    
Earnings (in dollars per share) $ 0.81 $ 0.87
Diluted earnings (in dollars per share) $ 0.80 $ 0.86
Average common shares issued and outstanding (in shares) 8,136.8 8,700.1
Average diluted common shares issued and outstanding (in shares) 8,202.1 8,755.6