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, 2018
Mar. 31, 2017
Interest income    
Loans and leases $ 9,623 $ 8,754
Debt securities 2,804 2,541
Federal funds sold and securities borrowed or purchased under agreements to resell 622 439
Trading account assets 1,136 1,076
Other interest income 1,414 900
Total interest income 15,599 13,710
Interest expense    
Deposits 760 282
Short-term borrowings 1,135 647
Trading account liabilities 357 264
Long-term debt 1,739 1,459
Total interest expense 3,991 2,652
Net interest income 11,608 11,058
Noninterest income    
Card income 1,457 1,449
Service charges 1,921 1,918
Investment and brokerage services 3,664 3,417
Investment banking income 1,353 1,584
Trading account profits 2,699 2,331
Other income 423 491
Total noninterest income 11,517 11,190
Total revenue, net of interest expense 23,125 22,248
Provision for credit losses 834 835
Noninterest expense    
Personnel 8,480 8,475
Occupancy 1,014 1,000
Equipment 442 438
Marketing 345 332
Professional fees 381 456
Data processing 810 794
Telecommunications 183 191
Other general operating 2,242 2,407
Total noninterest expense 13,897 14,093
Income before income taxes 8,394 7,320
Income tax expense 1,476 1,983
Net income 6,918 5,337
Preferred stock dividends 428 502
Net income applicable to common shareholders $ 6,490 $ 4,835
Per common share information    
Earnings (in dollars per share) $ 0.63 $ 0.48
Diluted earnings (in dollars per share) 0.62 0.45
Dividends paid (in dollars per share) $ 0.12 $ 0.075
Average common shares issued and outstanding (in shares) 10,322.4 10,099.6
Average diluted common shares issued and outstanding (in shares) 10,472.7 10,919.7