Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statement of Income

v3.22.2.2
Consolidated Statement of Income - USD ($)
shares in Millions, $ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Net interest income        
Interest income $ 19,621 $ 12,336 $ 47,490 $ 35,118
Interest expense 5,856 1,242 9,709 3,594
Net interest income 13,765 11,094 37,781 31,524
Noninterest income        
Fees and commissions 8,001 9,915 25,477 29,156
Market making and similar activities 3,068 2,005 9,023 7,360
Other income (332) (248) (1,863) (987)
Total noninterest income 10,737 11,672 32,637 35,529
Total income 24,502 22,766 70,418 67,053
Provision for credit losses 898 (624) 1,451 (4,105)
Noninterest expense        
Compensation and benefits 8,887 8,714 27,286 27,103
Occupancy and equipment 1,777 1,764 5,285 5,353
Information processing and communications 1,546 1,416 4,621 4,289
Product delivery and transaction related 892 987 2,749 2,940
Professional fees 525 434 1,493 1,263
Marketing 505 347 1,365 1,528
Other general operating 1,171 778 3,096 2,524
Total noninterest expense 15,303 14,440 45,895 45,000
Income before income taxes 8,301 8,950 23,072 26,158
Income tax expense 1,219 1,259 2,676 1,193
Net income 7,082 7,691 20,396 24,965
Preferred stock dividends 503 431 1,285 1,181
Net income applicable to common shareholders $ 6,579 $ 7,260 $ 19,111 $ 23,784
Per common share information        
Earnings (in dollars per share) $ 0.81 $ 0.86 $ 2.35 $ 2.77
Diluted earnings (in dollars per share) $ 0.81 $ 0.85 $ 2.34 $ 2.75
Average common shares issued and outstanding (in shares) 8,107.7 8,430.7 8,122.2 8,583.1
Average diluted common shares issued and outstanding (in shares) 8,160.8 8,492.8 8,173.3 8,702.2