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, 2023
Mar. 31, 2022
Net interest income    
Interest income $ 28,655 $ 12,894
Interest expense 14,207 1,322
Net interest income 14,448 11,572
Noninterest income    
Fees and commissions 7,894 8,985
Market making and similar activities 4,712 3,238
Other income (796) (567)
Total noninterest income 11,810 11,656
Total revenue, net of interest expense 26,258 23,228
Provision for credit losses 931 30
Noninterest expense    
Compensation and benefits 9,918 9,482
Occupancy and equipment 1,799 1,760
Information processing and communications 1,697 1,540
Product delivery and transaction related 890 933
Professional fees 537 450
Marketing 458 397
Other general operating 939 757
Total noninterest expense 16,238 15,319
Income before income taxes 9,089 7,879
Income tax expense 928 812
Net income 8,161 7,067
Preferred stock dividends 505 467
Net income applicable to common shareholders $ 7,656 $ 6,600
Per common share information    
Earnings (in dollars per share) $ 0.95 $ 0.81
Diluted earnings (in dollars per share) $ 0.94 $ 0.80
Average common shares issued and outstanding (in shares) 8,065.9 8,136.8
Average diluted common shares issued and outstanding (in shares) 8,182.3 8,202.1