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Condensed Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Net Revenues        
Interest revenue $ 1,927 $ 1,590 $ 3,925 $ 3,011
Interest expense (318) (183) (635) (341)
Net interest revenue 1,609 1,407 3,290 2,670
Other 112 85 214 168
Total net revenues 2,681 2,486 5,404 4,884
Expenses Excluding Interest        
Compensation and benefits 807 745 1,657 1,515
Professional services 178 156 348 312
Occupancy and equipment 133 122 264 244
Advertising and market development 77 77 146 150
Communications 62 58 124 120
Depreciation and amortization 84 75 167 148
Regulatory fees and assessments 30 50 62 101
Other 74 72 136 161
Total expenses excluding interest 1,445 1,355 2,904 2,751
Income before taxes on income 1,236 1,131 2,500 2,133
Taxes on income 299 265 599 484
Net Income 937 866 1,901 1,649
Preferred stock dividends and other 50 [1] 53 [1] 89 90
Net Income Available to Common Stockholders $ 887 $ 813 $ 1,812 $ 1,559
Weighted-Average Common Shares Outstanding:        
Basic (shares) 1,328 1,350 1,331 1,349
Diluted (shares) 1,337 [2] 1,364 [2] 1,340 1,363
Earnings Per Common Shares Outstanding:        
Basic (USD per share) $ 0.67 $ 0.60 $ 1.36 $ 1.16
Diluted (USD per share) $ 0.66 [2] $ 0.60 [2] $ 1.35 $ 1.14
Antidilutive stock options and restricted stock awards excluded from the calculation of diluted EPS (in shares) 16 10 17 12
Asset management and administration fees [Member]        
Net Revenues        
Asset management and administration fees and Trading revenue $ 786 $ 814 $ 1,541 $ 1,665
Trading revenue [Member]        
Net Revenues        
Asset management and administration fees and Trading revenue $ 174 $ 180 $ 359 $ 381
[1] Includes preferred stock dividends and undistributed earnings and dividends allocated to non-vested restricted stock units.
[2] Antidilutive stock options and restricted stock units excluded from the calculation of diluted EPS totaled 16 million and 10 million shares for the second quarters of 2019 and 2018, respectively, and 17 million and 12 million shares for the first six months of 2019 and 2018, respectively.