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, 2019
Mar. 31, 2018
Net interest income    
Interest income $ 18,170 $ 15,599
Interest expense 5,795 3,830
Net interest income 12,375 11,769
Noninterest income    
Fees and commissions 7,838 8,340
Trading account income 2,338 2,553
Other income 453 408
Total noninterest income 10,629 11,301
Total revenue, net of interest expense 23,004 23,070
Provision for credit losses 1,013 834
Noninterest expense    
Compensation and benefits 8,249 8,480
Occupancy and equipment 1,605 1,607
Information processing and communications 1,164 1,165
Product delivery and transaction related 662 756
Marketing 442 345
Professional fees 360 381
Other general operating 742 1,108
Total noninterest expense 13,224 13,842
Income before income taxes 8,767 8,394
Income tax expense 1,456 1,476
Net income 7,311 6,918
Preferred stock dividends 442 428
Net income applicable to common shareholders $ 6,869 $ 6,490
Per common share information    
Earnings (in dollars per share) $ 0.71 $ 0.63
Diluted earnings (in dollars per share) $ 0.70 $ 0.62
Average common shares issued and outstanding (in shares) 9,725.9 10,322.4
Average diluted common shares issued and outstanding (in shares) 9,787.3 10,472.7