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Condensed Consolidated Statements of Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Net Revenues        
Interest revenue $ 4,104 $ 2,710 $ 8,120 $ 5,029
Interest expense (1,814) (166) (3,060) (302)
Net interest revenue 2,290 2,544 5,060 4,727
Total net revenues 4,656 5,093 9,772 9,765
Expenses Excluding Interest        
Compensation and benefits 1,498 1,426 3,136 2,972
Professional services 272 258 530 502
Occupancy and equipment 319 294 618 563
Advertising and market development 103 105 191 207
Communications 188 169 334 313
Depreciation and amortization 191 159 368 [1] 309 [1]
Amortization of acquired intangible assets 134 154 269 [1] 308 [1]
Regulatory fees and assessments 80 67 163 135
Other 180 187 362 343
Total expenses excluding interest 2,965 2,819 5,971 5,652
Income before taxes on income 1,691 2,274 3,801 4,113
Taxes on income 397 481 904 918
Net Income 1,294 1,793 2,897 [1] 3,195 [1]
Preferred stock dividends and other 121 141 191 265
Net Income Available to Common Stockholders $ 1,173 $ 1,652 $ 2,706 $ 2,930
Weighted-Average Common Shares Outstanding:        
Basic (in shares) 1,820 1,896 1,827 1,895
Diluted (in shares) 1,825 1,904 1,834 1,905
Earnings Per Common Shares Outstanding        
Basic (in USD per share) [2] $ 0.64 $ 0.87 $ 1.48 $ 1.55
Diluted (in USD per share) [2] $ 0.64 $ 0.87 $ 1.48 $ 1.54
Asset management and administration fees [Member]        
Net Revenues        
Revenues from contracts with customers [3] $ 1,173 $ 1,052 $ 2,291 $ 2,120
Trading revenue [Member]        
Net Revenues        
Revenues from contracts with customers 803 885 1,695 1,848
Bank deposit account fees [Member]        
Net Revenues        
Revenues from contracts with customers 175 352 326 646
Other [Member]        
Net Revenues        
Revenues from contracts with customers $ 215 $ 260 $ 400 $ 424
[1] Certain prior period amounts have been reclassified to conform to the current year presentation. See Note 1 for additional information.
[2] The Company has voting and nonvoting common stock outstanding. As the participation rights, including dividend and liquidation rights, are identical between the voting and nonvoting stock classes, basic and diluted earnings per share are the same for each class. See Note 16 for additional information.
[3] No fee waivers were recognized for the three and six months ended June 30, 2023. Includes fee waivers of $3 million and $57 million for the three and six months ended June 30, 2022, respectively.