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 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Net interest income        
Interest income $ 37,491 $ 33,624 $ 110,630 $ 94,633
Interest expense 23,524 19,245 68,929 51,648
Net interest income 13,967 14,379 41,701 42,985
Noninterest income        
Fees and commissions 9,119 8,135 26,748 23,990
Market making and similar activities 3,278 3,325 10,464 11,734
Other income (loss) (1,019) (672) (2,373) (2,087)
Total noninterest income 11,378 10,788 34,839 33,637
Total revenue, net of interest expense 25,345 25,167 76,540 76,622
Provision for credit losses 1,542 1,234 4,369 3,290
Noninterest expense        
Compensation and benefits 9,916 9,551 29,937 28,870
Occupancy and equipment 1,836 1,795 5,465 5,370
Information processing and communications 1,784 1,676 5,347 5,017
Product delivery and transaction related 849 880 2,591 2,726
Professional fees 723 545 1,925 1,609
Marketing 504 501 1,446 1,472
Other general operating 867 890 3,314 3,050
Total noninterest expense 16,479 15,838 50,025 48,114
Income before income taxes 7,324 8,095 22,146 25,218
Income tax expense 428 293 1,679 1,847
Net income 6,896 7,802 20,467 23,371
Preferred stock dividends 516 532 1,363 1,343
Net income applicable to common shareholders $ 6,380 $ 7,270 $ 19,104 $ 22,028
Per common share information        
Earnings (in dollars per share) $ 0.82 $ 0.91 $ 2.42 $ 2.74
Diluted earnings (in dollars per share) $ 0.81 $ 0.90 $ 2.40 $ 2.72
Average common shares issued and outstanding (in shares) 7,818.0 8,017.1 7,894.7 8,041.3
Average diluted common shares issued and outstanding (in shares) 7,902.1 8,075.9 7,965.0 8,153.4