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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Interest Income      
Interest and fees on loans and leases $ 7,334 $ 4,954 $ 4,079
Interest on securities 1,770 1,517 1,090
Interest on other short-term investments 656 116 42
Total Income 9,760 6,587 5,211
Interest Expense      
Interest on deposits 2,929 447 59
Interest on federal funds purchased 15 6 0
Interest on other short-term borrowings 247 108 2
Interest on long-term debt 742 417 380
Total interest expense 3,933 978 441
Net Interest Income 5,827 5,609 4,770
Provision for (benefit from) credit losses 515 563 (377)
Net Interest Income After Provision for (Benefit from) Credit Losses 5,312 5,046 5,147
Noninterest Income      
Service charges on deposits 577 589 600
Wealth and asset management revenue 581 570 586
Commercial banking revenue 624 565 637
Card and processing revenue 416 409 402
Mortgage banking net revenue 250 215 270
Leasing business revenue 208 237 300
Other noninterest income 207 265 332
Securities gains (losses), net 18 (82) (7)
Securities losses, net - non-qualifying hedges on mortgage servicing rights 0 (2) (2)
Total noninterest income 2,881 2,766 3,118
Noninterest Expense      
Compensation and benefits 2,694 2,554 2,626
Technology and communications 464 416 388
Net occupancy expense 331 307 312
Equipment expense 148 145 138
Leasing business expense 121 131 137
Marketing expense 126 118 107
Card and processing expense 84 80 89
Other noninterest expense 1,237 968 951
Total noninterest expense 5,205 4,719 4,748
Income (loss) before income taxes 2,988 3,093 3,517
Applicable income tax expense 639 647 747
Net Income 2,349 2,446 2,770
Dividends on preferred stock 137 116 111
Net Income Available to Common Shareholders $ 2,212 $ 2,330 $ 2,659
Shares Disclosures      
Earnings per share - basic (in dollars per share) $ 3.23 $ 3.38 $ 3.78
Earnings per share - diluted (in dollars per share) $ 3.22 $ 3.35 $ 3.73
Average common shares outstanding - basic (in shares) 684,172,079 688,633,659 702,188,552
Average common shares outstanding - diluted (in shares) 687,678,291 694,952,038 711,197,805