XML 15 R4.htm IDEA: XBRL DOCUMENT v3.23.3
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (unaudited) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Interest Income        
Interest and fees on loans and leases $ 1,899 $ 1,315 $ 5,445 $ 3,377
Interest on securities 444 414 1,320 1,077
Interest on other short-term investments 186 31 348 58
Total interest income 2,529 1,760 7,113 4,512
Interest Expense        
Interest on deposits 844 112 1,977 147
Interest on federal funds purchased 2 3 13 4
Interest on other short-term borrowings 52 43 198 56
Interest on long-term debt 193 104 514 273
Total interest expense 1,091 262 2,702 480
Net Interest Income 1,438 1,498 4,411 4,032
Provision for credit losses 119 158 460 383
Net Interest Income After Provision for Credit Losses 1,319 1,340 3,951 3,649
Noninterest Income        
Commercial banking revenue 154 134 461 406
Wealth and asset management revenue 145 141 434 430
Service charges on deposits 149 143 431 449
Card and processing revenue 104 105 310 306
Mortgage banking net revenue 57 69 184 152
Leasing business revenue 58 60 162 179
Other noninterest income 55 59 152 195
Securities gains (losses), net (7) (38) 3 (84)
Securities losses, net – non-qualifying hedges on mortgage servicing rights 0 (1) 0 (2)
Total noninterest income 715 672 2,137 2,031
Noninterest Expense        
Compensation and benefits 629 605 2,036 1,900
Technology and communications 115 106 347 306
Net occupancy expense 84 74 248 225
Equipment expense 37 36 110 108
Marketing expense 35 35 96 87
Leasing business expense 29 33 94 95
Card and processing expense 21 21 63 59
Other noninterest expense 238 257 756 721
Total noninterest expense 1,188 1,167 3,750 3,501
Income Before Income Taxes 846 845 2,338 2,179
Applicable income tax expense 186 192 519 470
Net Income 660 653 1,819 1,709
Dividends on preferred stock 37 22 100 78
Net Income Available to Common Shareholders $ 623 $ 631 $ 1,719 $ 1,631
Shares Disclosures        
Earnings per share - basic (in dollars per share) $ 0.91 $ 0.91 $ 2.51 $ 2.37
Earnings per share - diluted (in dollars per share) $ 0.91 $ 0.91 $ 2.50 $ 2.34
Average common shares outstanding - basic (in shares) 684,224,277 689,278,078 684,090,872 688,617,910
Average common shares outstanding - diluted (in shares) 687,059,147 694,592,855 687,661,319 695,207,279