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Condensed Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Net Revenues    
Interest revenue $ 1,421 $ 1,055
Interest expense (158) (55)
Net interest revenue 1,263 1,000
Asset management and administration fees 851 823
Trading revenue 201 192
Other 83 66
Total net revenues 2,398 2,081
Expenses Excluding Interest    
Compensation and benefits 770 701
Professional services 156 133
Occupancy and equipment 122 105
Advertising and market development 73 71
Communications 62 57
Depreciation and amortization 73 65 [1]
Regulatory fees and assessments 51 44
Other 89 62
Total expenses excluding interest 1,396 1,238
Income before taxes on income 1,002 843
Taxes on income 219 279
Net Income 783 564 [1]
Preferred stock dividends and other [2] 37 39
Net Income Available to Common Stockholders $ 746 $ 525
Weighted-Average Common Shares Outstanding:    
Basic (shares) 1,347 1,336
Diluted (shares) [3] 1,362 1,351
Earnings Per Common Share:    
Basic (USD per share) $ 0.55 $ 0.39
Diluted (USD per share) 0.55 0.39
Dividends Declared Per Common Share (USD per share) $ 0.10 $ 0.08
[1] Adjusted for the retrospective adoption of ASU 2016-18. See Note 2.
[2] Includes preferred stock dividends and undistributed earnings and dividends allocated to non-vested restricted stock units.
[3] Antidilutive stock options and restricted stock units excluded from the calculation of diluted EPS totaled 11 million and 10 million shares for the first quarters of 2018 and 2017, respectively.