v3.26.1
CONSOLIDATED STATEMENT OF INCOME (UNAUDITED) - USD ($)
shares in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Fee revenue:        
Servicing fees $ 1,468,000,000 $ 1,304,000,000 $ 2,877,000,000 $ 2,579,000,000
Management fees 772,000,000 600,000,000 1,496,000,000 1,187,000,000
Foreign exchange trading services 494,000,000 393,000,000 929,000,000 730,000,000
Securities finance 150,000,000 126,000,000 266,000,000 240,000,000
Software services 166,000,000 169,000,000 335,000,000 327,000,000
Other fee revenue 138,000,000 127,000,000 245,000,000 226,000,000
Total fee revenue 3,188,000,000 2,719,000,000 6,148,000,000 5,289,000,000
Net interest income:        
Interest income 2,843,000,000 3,055,000,000 5,494,000,000 5,977,000,000
Interest expense 1,983,000,000 2,326,000,000 3,799,000,000 4,534,000,000
Net interest income 860,000,000 729,000,000 1,695,000,000 1,443,000,000
Other income:        
Gains (losses) from sales of available-for-sale securities, net 0 0 1,000,000 0
Total other income 0 0 1,000,000 0
Total revenue 4,048,000,000 3,448,000,000 7,844,000,000 6,732,000,000
Provision for credit losses 0 30,000,000 16,000,000 42,000,000
Expenses:        
Compensation and employee benefits 1,292,000,000 1,280,000,000 2,733,000,000 2,542,000,000
Information systems and communications 589,000,000 523,000,000 1,226,000,000 1,020,000,000
Transaction processing services 280,000,000 260,000,000 563,000,000 518,000,000
Occupancy 96,000,000 105,000,000 197,000,000 208,000,000
Other 402,000,000 361,000,000 751,000,000 691,000,000
Total expenses 2,659,000,000 2,529,000,000 5,470,000,000 4,979,000,000
Income before income tax expense 1,389,000,000 889,000,000 2,358,000,000 1,711,000,000
Income tax expense 305,000,000 196,000,000 510,000,000 374,000,000
Net income 1,084,000,000 693,000,000 1,848,000,000 1,337,000,000
Net income available to common shareholders, basic 1,026,000,000 630,000,000 1,731,000,000 1,227,000,000
Net income available to common shareholders, diluted $ 1,026,000,000 $ 630,000,000 $ 1,731,000,000 $ 1,227,000,000
Earnings per common share:        
Basic (in USD per share) $ 3.71 $ 2.20 $ 6.24 $ 4.27
Diluted (in USD per share) $ 3.65 $ 2.17 $ 6.14 $ 4.21
Average common shares outstanding (in thousands):        
Basic (in shares) 276,150 286,281 277,286 287,415
Diluted (in shares) 281,062 290,490 281,963 291,596
Cash dividends declared (in USD per share) $ 0.84 $ 0.76 $ 1.68 $ 1.52