v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenues:        
Principal transactions $ 128 $ 116 $ 396 $ 369
Interest income 990 1,057 2,980 3,159
Total revenues 3,842 3,762 11,722 10,920
Interest expense (444) (534) (1,384) (1,561)
Net revenues 3,398 3,228 10,338 9,359
Non-interest expenses:        
Compensation, commissions and benefits 2,202 2,090 6,678 6,054
Non-compensation expenses:        
Communications and information processing 191 166 553 481
Occupancy and equipment 77 75 224 220
Business development 77 72 209 193
Investment sub-advisory fees 56 48 163 132
Professional fees 42 38 110 103
Bank loan provision/(benefit) for credit losses 15 (10) 31 23
Other 175 105 387 270
Total non-compensation expenses 633 494 1,677 1,422
Total non-interest expenses 2,835 2,584 8,355 7,476
Pre-tax income 563 644 1,983 1,883
Provision for income taxes 127 152 452 417
Net income 436 492 1,531 1,466
Preferred stock dividends 1 1 4 4
Net income available to common shareholders, basic 435 491 1,527 1,462
Net income available to common shareholders, diluted $ 435 $ 491 $ 1,527 $ 1,462
Earnings per common share – basic (in usd per share) $ 2.16 $ 2.37 $ 7.51 $ 7.02
Earnings per common share – diluted (in usd per share) $ 2.12 $ 2.31 $ 7.35 $ 6.85
Weighted-average common shares outstanding – basic (in shares) 201.2 206.8 203.0 207.9
Weighted-average common and common equivalent shares outstanding – diluted (in shares) 205.5 212.3 207.6 213.1
Net income $ 436 $ 492 $ 1,531 $ 1,466
Other comprehensive income/(loss), net of tax:        
Available-for-sale securities 53 11 42 255
Currency translations, net of the impact of net investment hedges 58 (2) 24 16
Cash flow hedges (3) (2) (2) (17)
Total other comprehensive income, net of tax 108 7 64 254
Total comprehensive income 544 499 1,595 1,720
Asset management and related administrative fees        
Revenues:        
Revenue from contract with customer 1,733 1,611 5,201 4,534
Total brokerage revenues        
Revenues:        
Total brokerage revenues 559 532 1,698 1,582
Securities commissions        
Revenues:        
Revenue from contract with customer 431 416 1,302 1,213
Account and service fees        
Revenues:        
Revenue from contract with customer 302 328 965 982
Investment banking        
Revenues:        
Revenue from contract with customer 212 183 753 543
Other        
Revenues:        
Revenue from contract with customer $ 46 $ 51 $ 125 $ 120