Annual report pursuant to Section 13 and 15(d)

Consolidated Statement of Income

v3.22.0.1
Consolidated Statement of Income - USD ($)
shares in Millions, $ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Net interest income      
Interest income $ 47,672 $ 51,585 $ 71,236
Interest expense 4,738 8,225 22,345
Net interest income 42,934 43,360 48,891
Noninterest income      
Fees and commissions 39,299 34,551 33,015
Market making and similar activities 8,691 8,355 9,034
Other income (1,811) (738) 304
Total noninterest income 46,179 42,168 42,353
Total revenue, net of interest expense 89,113 85,528 91,244
Provision for credit losses (4,594) 11,320 3,590
Noninterest expense      
Compensation and benefits 36,140 32,725 31,977
Occupancy and equipment 7,138 7,141 6,588
Information processing and communications 5,769 5,222 4,646
Product delivery and transaction related 3,881 3,433 2,762
Marketing 1,939 1,701 1,934
Professional fees 1,775 1,694 1,597
Other general operating 3,089 3,297 5,396
Total noninterest expense 59,731 55,213 54,900
Income before income taxes 33,976 18,995 32,754
Income tax expense 1,998 1,101 5,324
Net income 31,978 17,894 27,430
Preferred stock dividends 1,421 1,421 1,432
Net income applicable to common shareholders $ 30,557 $ 16,473 $ 25,998
Per common share information      
Earnings (in dollars per share) $ 3.60 $ 1.88 $ 2.77
Diluted earnings (in dollars per share) $ 3.57 $ 1.87 $ 2.75
Average common shares issued and outstanding (in shares) 8,493.3 8,753.2 9,390.5
Average diluted common shares issued and outstanding (in shares) 8,558.4 8,796.9 9,442.9