v3.25.3
Consolidated Statement of Income - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Fee revenue:        
Servicing fees $ 1,357 $ 1,266 $ 3,936 $ 3,733
Management fees 612 527 1,736 1,548
Foreign exchange trading services 416 374 1,209 1,041
Securities finance 138 116 378 320
Software and processing fees 227 208 682 629
Other fee revenue 79 125 177 223
Total fee revenue 2,829 2,616 8,118 7,494
Net interest income:        
Interest income 2,918 3,081 8,895 8,968
Interest expense 2,203 2,358 6,737 6,794
Net interest income 715 723 2,158 2,174
Gains (losses) from sales of available-for-sale securities, net 1 (80) 1 (80)
Total other income (loss) 1 (80) 1 (80)
Total revenue 3,545 3,259 10,277 9,588
Provision for credit losses 9 26 51 63
Expenses:        
Compensation and employee benefits 1,162 1,134 3,704 3,485
Information systems and communications 517 463 1,537 1,349
Transaction processing services 276 255 794 753
Occupancy 106 105 314 314
Amortization of other intangible assets 56 56 166 176
Other 317 295 898 1,013
Total expenses 2,434 2,308 7,413 7,090
Income before income tax expense 1,102 925 2,813 2,435
Income tax expense 241 195 615 531
Net income 861 730 2,198 1,904
Net income available to common shareholders, basic 802 682 2,029 1,755
Net income available to common shareholders, diluted $ 802 $ 682 $ 2,029 $ 1,755
Earnings per common share:        
Basic (in USD per share) $ 2.83 $ 2.29 $ 7.09 $ 5.85
Diluted (in USD per share) $ 2.78 $ 2.26 $ 6.98 $ 5.77
Average common shares outstanding (in thousands):        
Basic (in shares) 283,434 297,365 286,074 299,964
Diluted (in shares) 288,163 301,847 290,439 304,176
Cash dividends declared (in USD per share) $ 0.84 $ 0.76 $ 2.36 $ 2.14