v3.26.1
Total Equity
 3 Months Ended
Mar. 31, 2026
Equity [Abstract]  
Total Equity Total Equity
Preferred Stock
 Shares Outstanding Carrying Value
$ in millions, except per share dataAt
March 31,
2026 		Liquidation
Preference
per Share		At
March 31,
2026 		At
December 31,
2025
Series
A44,000 $25,000 $1,100 $1,100 
C1
519,882 1,000 408 408 
E34,500 25,000 862 862 
F34,000 25,000 850 850 
I40,000 25,000 1,000 1,000 
K40,000 25,000 1,000 1,000 
L20,000 25,000 500 500 
M400,000 1,000 430 430 
N3,000 100,000 300 300 
O52,000 25,000 1,300 1,300 
P40,000 25,000 1,000 1,000 
Q
40,000 25,000 1,000 1,000 
Total$9,750 $9,750 
Shares authorized30,000,000 
1.Series C preferred stock is held by MUFG.
For a description of Series A through Series Q preferred stock, see Note 17 to the financial statements in the 2025 Form 10-K. The Firm’s preferred stock has a preference over its common stock upon liquidation. The Firm’s preferred stock qualifies as and is included in Tier 1 capital in accordance with regulatory capital requirements (see Note 15).
Share Repurchases
 Three Months Ended March 31,
$ in millions20262025
Repurchases of common stock under the Firm’s Share Repurchase Authorization$1,750 $1,000 
On July 1, 2025, the Firm announced that its Board of Directors reauthorized a multi-year repurchase program of up to $20 billion of outstanding common stock (the “Share Repurchase Authorization”), without a set expiration date, beginning in the third quarter of 2025, which will be exercised from time to time as conditions warrant and is subject to limitations on distributions from the Federal Reserve. For more information on share repurchases, see Note 17 to the financial statements in the 2025 Form 10-K.
Common Shares Outstanding for Basic and Diluted EPS
 Three Months Ended
March 31,
in millions20262025
Weighted average common shares outstanding, basic1,561 1,584 
Effect of dilutive RSUs and PSUs15 16 
Weighted average common shares outstanding and common stock equivalents, diluted1,576 1,600 
Weighted average antidilutive common stock equivalents (excluded from the computation of diluted EPS)9 4 
Dividends
$ in millions, except per
share data		Three Months Ended March 31,
20262025
Per Share1
Total
Per Share1
Total
Preferred stock series
A$290 $13 $329 $14 
C25 13 25 13 
E445 15 445 15 
F430 15 430 15 
I398 16 398 16 
K366 15 366 15 
L305 6 305 6 
M2
29 12 29 12 
N1,806 5 1,967 6 
O266 13 266 14 
P406 16 406 16 
Q
414 17 414 16 
Total Preferred stock$156 $158 
Common stock$1.00 $1,589 $0.925 $1,492 
1.Common and Preferred Stock dividends are payable quarterly unless otherwise noted.
2.Series M is payable semiannually until September 15, 2026 and thereafter will be payable quarterly.








Accumulated Other Comprehensive Income (Loss) Rollforward
Three Months Ended March 31, 2026
$ in millionsCTAAFS SecuritiesPension and OtherDVACash Flow HedgesTotal
Beginning Balance
$(1,170)$(1,585)$(558)$(2,995)$23 $(6,285)
OCI activity:
Pre-Tax Gain (Loss)
45 (171)— 1,619 (396)1,097 
Tax effect
(63)41 — (397)94 (325)
After-tax Gain (Loss)
(18)(130)— 1,222 (302)772 
Non-Controlling Interests
(12)— — 15 — 3 
OCI Activity
(6)(130)— 1,207 (302)769 
Reclassified to Earnings:
Pre-tax Reclass.
— (6)5 9 5 13 
Tax effect
— 1 (1)(2)(1)(3)
Reclass. After-tax
— (5)4 7 4 10 
Net OCI Activity
(6)(135)4 1,214 (298)779 
Ending Balance
$(1,176)$(1,720)$(554)$(1,781)$(275)$(5,506)

Three Months Ended March 31, 2025
$ in millionsCTAAFS SecuritiesPension and OtherDVACash Flow HedgesTotal
Beginning Balance$(1,477)$(2,573)$(583)$(2,146)$(35)$(6,814)
OCI activity:
Pre-Tax Gain (Loss)54 491 — 439 17 1,001 
Tax effect134 (117)— (108)(4)(95)
After-tax Gain (Loss)188 374 — 331 13 906 
Non-Controlling Interests43 — — 7 — 50 
OCI Activity145 374 — 324 13 856 
Reclassified to Earnings:
Pre-tax Reclass.
— (21)5 9 5 (2)
Tax effect— 5 (3)(2)(1)(1)
Reclass. After-tax
— (16)2 7 4 (3)
Net OCI Activity145 358 2 331 17 853 
Ending Balance$(1,332)$(2,215)$(581)$(1,815)$(18)$(5,961)