v3.26.1
Other Assets (Tables)
 3 Months Ended
Mar. 31, 2026
Equity Method Investments and Joint Ventures [Abstract]  
Schedule of Equity Method Investments
Equity Method Investments
$ in millionsAt
March 31,
2026 		At
December 31,
2025
Investments$2,175 $2,054 
 Three Months Ended
March 31,
$ in millions20262025
Income (loss)$87 $62 
Schedule of Joint Ventures
Japanese Securities Joint Venture
 Three Months Ended
March 31,
$ in millions20262025
Income (loss) from investment in MUMSS$50 $36 
Summary of Tax Equity Investments under the Proportional Amortization Method
Tax Equity Investments under the Proportional Amortization Method
$ in millionsAt
March 31,
2026 		At
December 31,
2025
Low-income housing
$1,877 $1,897 
Renewable energy and other
26 28 
Total1,2
$1,903 $1,925 
1.Amounts include unfunded equity contributions of $681 million and $707 million as of March 31, 2026 and December 31, 2025, respectively. The corresponding liabilities for the commitments to fund these equity contributions are recorded in Other liabilities and accrued expenses. The majority of these commitments are expected to be funded within 5 years.
2.Amounts exclude $44 million and $45 million as of March 31, 2026 and December 31, 2025, respectively, of tax equity investments within programs for which the Firm elected the proportional amortization method that do not meet the conditions to apply the proportional amortization method, which are accounted for as equity method investments.
Summary of Net Benefits Attributable to Tax Equity Investments under the Proportional Amortization Met
Net Benefits Attributable to Tax Equity Investments under the Proportional Amortization Method
Three Months Ended
March 31,
$ in millions20262025
Income tax credits and other income tax benefits$78 $75 
Proportional amortization(64)(62)
Net benefits included in income tax expense14 13 
Other income1 — 
Net benefits$15 $13