v3.26.3
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
INTEREST INCOME:        
Loans $ 2,429 $ 2,093 $ 6,413 $ 6,310
Interest-earning deposits 168 231 485 746
Interest and fees on federal funds sold and securities purchased under resale agreements or similar arrangements 328 414 931 1,313
Interest and dividends on investment securities        
Interest and dividends on investment securities 532 395 1,401 1,083
TOTAL INTEREST INCOME 3,457 3,133 9,230 9,452
INTEREST EXPENSE:        
Deposits and other customer accounts 596 461 1,479 1,438
Interest expense on federal funds purchased and securities loaned or sold under repurchase agreements 460 568 1,312 1,719
Interest expense on trading liabilities 42 36 131 109
Borrowings and other debt obligations 451 549 1,383 1,727
TOTAL INTEREST EXPENSE 1,549 1,614 4,305 4,993
NET INTEREST INCOME 1,908 1,519 4,925 4,459
Credit loss expense 601 368 1,280 1,167
NET INTEREST INCOME AFTER CREDIT LOSS EXPENSE 1,307 1,151 3,645 3,292
NON-INTEREST INCOME:        
Consumer and commercial fees 146 128 379 364
Capital markets and foreign exchange income 344 154 767 382
Lease income 260 395 866 1,279
Miscellaneous income, net [1] 107 144 408 483
TOTAL FEES AND OTHER INCOME 857 821 2,420 2,508
Securities (losses) / gains, net (176) 53 (129) 115
TOTAL NON-INTEREST INCOME 681 874 2,291 2,623
GENERAL, ADMINISTRATIVE AND OTHER EXPENSES:        
Compensation and benefits 809 534 1,895 1,607
Occupancy and equipment expenses 179 168 502 525
Technology, outside service, and marketing expense 222 203 628 620
Lease expense 205 336 708 1,031
Other expenses 266 238 654 667
TOTAL GENERAL, ADMINISTRATIVE AND OTHER EXPENSES 1,681 1,479 4,387 4,450
INCOME BEFORE INCOME TAX 307 546 1,549 1,465
Income tax provision 62 90 305 145
NET INCOME $ 245 $ 456 $ 1,244 $ 1,320
[1] Includes equity investment income/(expense), net.