XML 16 R4.htm IDEA: XBRL DOCUMENT v3.23.2
Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Interest Income        
Interest and fees on loans and leases $ 4,915 $ 2,898 $ 9,571 $ 5,542
Interest on securities 749 675 1,501 1,315
Interest on other earning assets 512 100 889 173
Total interest income 6,176 3,673 11,961 7,030
Interest Expense        
Interest on deposits 1,506 99 2,631 131
Interest on long-term debt 734 137 1,248 269
Interest on other borrowings 311 30 589 40
Total interest expense 2,551 266 4,468 440
Net Interest Income 3,625 3,407 7,493 6,590
Provision for credit losses 538 171 1,040 76
Net Interest Income After Provision for Credit Losses 3,087 3,236 6,453 6,514
Noninterest Income        
Noninterest income 2,293 2,248 4,527 4,390
Noninterest Expense        
Personnel expense 2,256 2,102 4,437 4,153
Professional fees and outside processing 352 349 666 712
Software expense 237 234 451 466
Net occupancy expense 180 181 363 389
Amortization of intangibles 131 143 267 280
Equipment expense 92 114 202 232
Marketing and customer development 79 93 157 177
Operating lease depreciation 44 47 90 95
Regulatory costs 73 44 148 79
Merger-related and restructuring charges 54 121 117 337
Other expense 250 152 541 334
Total noninterest expense 3,748 3,580 7,439 7,254
Earnings        
Income before income taxes 1,632 1,904 3,541 3,650
Provision for income taxes 287 372 681 702
Net income 1,345 1,532 2,860 2,948
Noncontrolling interests 36 1 38 2
Preferred stock dividends and other 75 77 178 165
Net income available to common shareholders $ 1,234 $ 1,454 $ 2,644 $ 2,781
Basic EPS $ 0.93 $ 1.09 $ 1.99 $ 2.09
Diluted EPS $ 0.92 $ 1.09 $ 1.98 $ 2.08
Basic weighted average shares outstanding (in shares) 1,331,953 1,330,160 1,330,286 1,329,601
Diluted weighted average shares outstanding (in shares) 1,337,307 1,338,864 1,338,346 1,340,225
Insurance income        
Noninterest Income        
Noninterest income $ 935 $ 825 $ 1,748 $ 1,552
Wealth management income        
Noninterest Income        
Noninterest income 330 337 669 680
Investment banking and trading income        
Noninterest Income        
Noninterest income 211 255 472 516
Service charges on deposits        
Noninterest Income        
Noninterest income 240 254 489 506
Card and payment related fees        
Noninterest Income        
Noninterest income 236 246 466 458
Mortgage banking income        
Noninterest Income        
Noninterest income 99 100 241 221
Lending related fees        
Noninterest Income        
Noninterest income 86 100 192 185
Operating lease income        
Noninterest Income        
Noninterest income 64 66 131 124
Securities gains (losses)        
Noninterest Income        
Noninterest income 0 (1) 0 (70)
Other income        
Noninterest Income        
Noninterest income $ 92 $ 66 $ 119 $ 218