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, 2024
Mar. 31, 2023
Net interest income    
Interest income $ 36,285 $ 28,655
Interest expense 22,253 14,207
Net interest income 14,032 14,448
Noninterest income    
Fees and commissions 8,660 7,894
Market making and similar activities 3,888 4,712
Other income (loss) (762) (796)
Total noninterest income 11,786 11,810
Total revenue, net of interest expense 25,818 26,258
Provision for credit losses 1,319 931
Noninterest expense    
Compensation and benefits 10,195 9,918
Occupancy and equipment 1,811 1,799
Information processing and communications 1,800 1,697
Product delivery and transaction related 851 890
Professional fees 548 537
Marketing 455 458
Other general operating 1,577 939
Total noninterest expense 17,237 16,238
Income before income taxes 7,262 9,089
Income tax expense 588 928
Net income 6,674 8,161
Preferred stock dividends 532 505
Net income applicable to common shareholders $ 6,142 $ 7,656
Per common share information    
Earnings (in dollars per share) $ 0.77 $ 0.95
Diluted earnings (in dollars per share) $ 0.76 $ 0.94
Average common shares issued and outstanding (in shares) 7,968.2 8,065.9
Average diluted common shares issued and outstanding (in shares) 8,031.4 8,182.3