v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash Flows from Operating Activities    
Net income $ 5,279 $ 4,035
Adjustments to reconcile net income to net cash provided by (used for) operating activities:    
Share-based compensation 230 198
Depreciation and amortization 399 432
Amortization of acquired intangible assets 274 258
Provision (benefit) for deferred income taxes (20) (40)
Premium amortization, net, on available for sale and held to maturity securities 321 351
Other 402 319
Net change in:    
Investments segregated and on deposit for regulatory purposes 14,911 (7,403)
Receivables from brokers, dealers, and clearing organizations (14,814) (1,855)
Receivables from brokerage clients (18,222) 2,551
Other assets (2,099) (665)
Payables to brokers, dealers, and clearing organizations 18,137 5,247
Payables to brokerage clients 7,627 7,796
Accrued expenses and other liabilities (783) (1,688)
Net cash provided by (used for) operating activities 11,642 9,536
Cash Flows from Investing Activities    
Purchases of available for sale securities (10,959) (1,887)
Proceeds from sales of available for sale securities 6,091 4,205
Principal payments on available for sale securities 4,549 14,893
Purchases of held to maturity securities (2,336) (429)
Principal payments on held to maturity securities 6,527 8,047
Net change in bank loans (9,065) (5,230)
Cash paid for acquisition, net of cash acquired (577) 0
Purchases of equipment, office facilities, and property (325) (245)
Purchases of FHLB stock (21) (317)
Proceeds from sales of FHLB stock 83 644
Purchases of Federal Reserve stock (2) (9)
Proceeds from sales of Federal Reserve stock 25 4
Other investing activities (414) (130)
Net cash provided by (used for) investing activities (6,424) 19,546
Cash Flows from Financing Activities    
Net change in bank deposits (6,065) (26,063)
Proceeds from FHLB borrowings 500 8,000
Repayments of FHLB borrowings (1,850) (15,700)
Proceeds from other short-term borrowings 39,612 20,359
Repayments of other short-term borrowings (32,664) (17,906)
Issuances of long-term debt 3,231 0
Repayments of long-term debt (3,114) (2,237)
Repurchases of common stock and nonvoting common stock (3,377) (1,833)
Net proceeds from preferred stock offerings 1,480 0
Redemption of preferred stock (2,055) (2,458)
Dividends paid (1,275) (1,203)
Proceeds from stock options exercised 58 109
Other financing activities (158) (95)
Net cash provided by (used for) financing activities (5,677) (39,027)
Increase (Decrease) in Cash and Cash Equivalents, including Amounts Restricted (459) (9,945)
Cash and Cash Equivalents, including Amounts Restricted at Beginning of Year 69,661 65,514
Cash and Cash Equivalents, including Amounts Restricted at End of Period [1] 69,202 55,569
Non-cash investing activity:    
Changes in accrued equipment, office facilities, and property purchases 640 47
Non-cash financing activity:    
Common stock repurchased during the period but settled after period end 0 17
Cash paid during the year for:    
Interest 1,841 2,497
Income taxes, net 1,792 818
Amounts included in the measurement of lease liabilities 122 127
Leased assets obtained in exchange for new operating lease liabilities $ 100 $ 55
[1] For more information on the nature of restrictions on restricted cash and cash equivalents, see Note 18.