Charles Schwab(NYSE:SCHW) 
The Charles Schwab Corporation, through its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates in two segments, Investor Services and Advisor Services. The Investor Services segment provides retail...
Website: http://www.aboutschwab.com
Founded: 1971
Full Time Employees: 22,100
CEO: Walter W Bettinger II
Sector: Financial Services
Industry: Capital Markets
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At a glance:
- Scale and Asset-Driven Earnings Model: Schwab’s earnings are primarily driven by client assets and net interest revenue, with brokerage and advisory fees providing additional diversification.
- Interest-Rate Sensitivity Remains a Key Swing Factor: Changes in short-term rates and yield-curve dynamics can materially impact net interest margin and profitability, making the company’s results highly rate-sensitive.
- Client Cash Sorting and Deposit Mix in Focus: How clients allocate cash between bank deposits, money market funds, and other products affects funding costs and interest revenue; management’s ability to stabilize deposit mix is a central metric.
- Balance Sheet and Liquidity Management as a Priority: Maintaining strong liquidity and managing securities portfolio duration/mark-to-market dynamics are ongoing priorities, especially after industry-wide scrutiny of bank funding profiles.
- Long-Term Tailwinds from Investing and Retirement Trends: Secular growth in retail investing, retirement rollovers, and advisory adoption can support asset gathering and fee growth over time, provided market conditions and client engagement remain healthy.
Bull Thesis:
- Strong Net Interest Income (NII) Growth: Charles Schwab significantly benefits from higher interest rates, leading to robust growth in Net Interest Income from client cash balances, which forms a substantial portion of its revenue base.
- Unrivaled Scale and Client Stickiness: With trillions in client assets and millions of accounts, Schwab enjoys massive economies of scale, strong brand loyalty, and a sticky client base, providing a significant competitive moat in the financial services industry.
- Successful TD Ameritrade Integration Synergies: The integration of TD Ameritrade is largely complete, yielding substantial cost synergies, an expanded client base, and enhanced product offerings, positioning Schwab for long-term growth and market leadership.
- Diversified Revenue Streams: Schwab's revenue model is diversified across asset management fees, advisory services, banking, and trading, reducing reliance on any single source and providing resilience across various market cycles and economic conditions.
Bear Thesis:
- Interest Rate Reversal Risk: A significant decline in interest rates would negatively impact Schwab's Net Interest Income, which has been a major profit driver, potentially compressing margins and overall profitability.
- Client Cash Sorting and Deposit Outflows: Clients are increasingly moving cash from low-yielding sweep accounts to higher-yielding money market funds or external investments, leading to deposit outflows and reduced Net Interest Income for Schwab.
- Intense Competition and Fee Compression: The brokerage industry faces fierce competition from traditional rivals and fintechs, leading to ongoing pressure on fees, particularly in trading commissions and advisory services, impacting profitability.
- Regulatory Scrutiny and Compliance Costs: As a large financial institution, Schwab is subject to extensive regulatory oversight, which can result in high compliance costs, potential fines, and operational restrictions that impact its business model.
Main Competitors:
- Fidelity Investments (Full-service brokerage, wealth management, retirement services, banking, mutual funds, ETFs.), Fidelity is Schwab's most direct and comprehensive competitor, offering a wide array of services including self-directed brokerage, active trading platforms, extensive mutual fund and ETF offerings, wealth management, retirement planning, and banking solutions. They compete fiercely on fees, product breadth, and customer service, often targeting similar affluent and mass-affluent investor segments.
- Vanguard (Low-cost mutual funds, ETFs, brokerage services, financial advisory.), Vanguard competes primarily through its reputation for low-cost index funds and ETFs, which directly appeal to cost-conscious investors. While historically focused on passive investing, Vanguard has expanded its brokerage and advisory services, including robo-advisors and hybrid models, challenging Schwab's wealth management offerings with a strong value proposition.
- E*TRADE (Morgan Stanley) ($MS) (Online brokerage, active trading, banking, wealth management.), E*TRADE, now part of Morgan Stanley, is a significant online brokerage competitor, particularly strong with active traders and self-directed investors. It offers robust trading platforms, commission-free stock and ETF trading, banking services, and financial guidance, directly competing with Schwab's core brokerage and banking segments.
- J.P. Morgan Wealth Management ($JPM) (Full-service wealth management, brokerage, banking, lending.), J.P. Morgan Wealth Management represents the competition from large universal banks. It leverages its extensive banking network and brand recognition to offer comprehensive wealth management, brokerage, and private banking services, often targeting high-net-worth individuals and families. They compete with Schwab's advisory and banking services by integrating financial planning with broader banking and lending solutions.
- Robinhood Markets, Inc. ($HOOD) (Commission-free stock, ETF, options, and crypto trading.), Robinhood competes by attracting a younger demographic and new investors with its user-friendly mobile app, commission-free trading, and fractional share investing. While Schwab also offers commission-free trading, Robinhood's simplified interface and focus on digital-first engagement challenge Schwab's ability to capture and retain the next generation of investors.
Moat:
Charles Schwab's moat primarily stems from its massive scale, strong brand recognition, comprehensive product suite (brokerage, wealth management, banking, custody), and integrated technology platform. Its acquisition of TD Ameritrade further solidified its position as a market leader. Competition is intense across all segments: from traditional rivals like Fidelity and Vanguard on price and product breadth, from large banks like J.P. Morgan on integrated wealth solutions, and from fintech disruptors like Robinhood on user experience and attracting new demographics. Schwab's challenge is to continue innovating and maintaining its cost advantage while catering to diverse client needs, from self-directed traders to high-net-worth individuals seeking personalized advice.
Income Statements:
Quarterly
Annual
| Unit: USD | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2021-06-30 | 2021-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
net revenues | |||||||||||||
interest revenue | 3,956,000,000 | 3,787,000,000 | 3,757,000,000 | 3,851,000,000 | 3,928,000,000 | 3,817,000,000 | 3,941,000,000 | 3,963,000,000 | 4,028,000,000 | 4,104,000,000 | 4,016,000,000 | 2,068,000,000 | 2,015,000,000 |
interest expense | -906,000,000 | -965,000,000 | -1,051,000,000 | -1,320,000,000 | -1,706,000,000 | -1,659,000,000 | -1,708,000,000 | -1,833,000,000 | -1,791,000,000 | -1,814,000,000 | -1,246,000,000 | -121,000,000 | -104,000,000 |
net interest revenue | 3,050,000,000 | 2,822,000,000 | 2,706,000,000 | 2,531,000,000 | 2,222,000,000 | 2,158,000,000 | 2,233,000,000 | 2,130,000,000 | 2,237,000,000 | 2,290,000,000 | 2,770,000,000 | 1,947,000,000 | 1,911,000,000 |
asset management and administration fees | 1,673,000,000 | 1,570,000,000 | 1,530,000,000 | 1,509,000,000 | 1,476,000,000 | 1,383,000,000 | 1,348,000,000 | 1,241,000,000 | 1,224,000,000 | 1,173,000,000 | 1,118,000,000 | 1,047,000,000 | 1,016,000,000 |
trading revenue | 995,000,000 | 952,000,000 | 908,000,000 | 873,000,000 | 797,000,000 | 777,000,000 | 817,000,000 | 767,000,000 | 768,000,000 | 803,000,000 | 892,000,000 | 955,000,000 | 1,216,000,000 |
bank deposit account fees | 247,000,000 | 247,000,000 | 245,000,000 | 241,000,000 | 152,000,000 | 153,000,000 | 183,000,000 | 174,000,000 | 205,000,000 | 175,000,000 | 151,000,000 | 337,000,000 | 351,000,000 |
other | 170,000,000 | 260,000,000 | 210,000,000 | 175,000,000 | 200,000,000 | 219,000,000 | 159,000,000 | 147,000,000 | 172,000,000 | 215,000,000 | 185,000,000 | 241,000,000 | 221,000,000 |
total net revenues | 6,135,000,000 | 5,851,000,000 | 5,599,000,000 | 5,329,000,000 | 4,847,000,000 | 4,690,000,000 | 4,740,000,000 | 4,459,000,000 | 4,606,000,000 | 4,656,000,000 | 5,116,000,000 | 4,527,000,000 | 4,715,000,000 |
expenses excluding interest | |||||||||||||
compensation and benefits | 1,653,000,000 | 1,536,000,000 | 1,672,000,000 | 1,533,000,000 | 1,522,000,000 | 1,450,000,000 | 1,538,000,000 | 1,409,000,000 | 1,770,000,000 | 1,498,000,000 | 1,638,000,000 | 1,318,000,000 | 1,430,000,000 |
professional services | 293,000,000 | 291,000,000 | 269,000,000 | 297,000,000 | 256,000,000 | 259,000,000 | 241,000,000 | 253,000,000 | 275,000,000 | 272,000,000 | 258,000,000 | 247,000,000 | 226,000,000 |
occupancy and equipment | 280,000,000 | 270,000,000 | 274,000,000 | 276,000,000 | 271,000,000 | 248,000,000 | 265,000,000 | 331,000,000 | 305,000,000 | 319,000,000 | 299,000,000 | 239,000,000 | 237,000,000 |
advertising and market development | 101,000,000 | 108,000,000 | 96,000,000 | 101,000,000 | 101,000,000 | 107,000,000 | 88,000,000 | 104,000,000 | 102,000,000 | 103,000,000 | 88,000,000 | 128,000,000 | 116,000,000 |
communications | 149,000,000 | 176,000,000 | 153,000,000 | 131,000,000 | 147,000,000 | 172,000,000 | 141,000,000 | 144,000,000 | 151,000,000 | 188,000,000 | 146,000,000 | 166,000,000 | 147,000,000 |
depreciation and amortization | 212,000,000 | 215,000,000 | 217,000,000 | 224,000,000 | 231,000,000 | 233,000,000 | 228,000,000 | 238,000,000 | 198,000,000 | 191,000,000 | 177,000,000 | 135,000,000 | 129,000,000 |
amortization of acquired intangible assets | 127,000,000 | 128,000,000 | 130,000,000 | 130,000,000 | 130,000,000 | 129,000,000 | 130,000,000 | 130,000,000 | 135,000,000 | 134,000,000 | 135,000,000 | 154,000,000 | 154,000,000 |
regulatory fees and assessments | 59,000,000 | 77,000,000 | 89,000,000 | 89,000,000 | 88,000,000 | 96,000,000 | 125,000,000 | 270,000,000 | 114,000,000 | 80,000,000 | 83,000,000 | 66,000,000 | 78,000,000 |
total expenses excluding interest | 3,114,000,000 | 3,048,000,000 | 3,144,000,000 | 3,024,000,000 | 3,005,000,000 | 2,943,000,000 | 2,942,000,000 | 3,265,000,000 | 3,223,000,000 | 2,965,000,000 | 3,006,000,000 | 2,808,000,000 | 2,755,000,000 |
income before taxes on income | 3,021,000,000 | 2,803,000,000 | 2,455,000,000 | 2,305,000,000 | 1,842,000,000 | 1,747,000,000 | 1,798,000,000 | 1,194,000,000 | 1,383,000,000 | 1,691,000,000 | 2,110,000,000 | 1,719,000,000 | 1,960,000,000 |
taxes on income | 663,000,000 | 677,000,000 | 546,000,000 | 465,000,000 | 434,000,000 | 415,000,000 | 436,000,000 | 149,000,000 | 258,000,000 | 397,000,000 | 507,000,000 | 454,000,000 | 476,000,000 |
net income | 2,358,000,000 | 2,126,000,000 | 1,909,000,000 | 1,840,000,000 | 1,408,000,000 | 1,332,000,000 | 1,362,000,000 | 1,045,000,000 | 1,125,000,000 | 1,294,000,000 | 1,603,000,000 | 1,265,000,000 | 1,484,000,000 |
yoy | 67.47% | 59.61% | 40.16% | 76.08% | 25.16% | 2.94% | -15.03% | -17.39% | -24.19% | ||||
qoq | 10.91% | 11.37% | 3.75% | 30.68% | 5.71% | -2.20% | 30.33% | -7.11% | -13.06% | -19.28% | 26.72% | -14.76% | |
preferred stock dividends and other | 81,000,000 | 149,000,000 | 113,000,000 | 123,000,000 | 109,000,000 | 121,000,000 | 111,000,000 | 119,000,000 | 108,000,000 | 121,000,000 | 70,000,000 | 148,000,000 | 96,000,000 |
net income available to common stockholders | 2,277,000,000 | 1,977,000,000 | 1,796,000,000 | 1,717,000,000 | 1,299,000,000 | 1,211,000,000 | 1,251,000,000 | 926,000,000 | 1,017,000,000 | 1,173,000,000 | 1,533,000,000 | 1,117,000,000 | 1,388,000,000 |
weighted-average common shares outstanding: | |||||||||||||
basic | 1,806,000,000 | 1,817,000,000 | 1,817,000,000 | 1,828,000,000 | 1,829,000,000 | 1,828,000,000 | 1,825,000,000 | 1,824,000,000 | 1,821,000,000 | 1,820,000,000 | 1,834,000,000 | 1,886,000,000 | 1,882,000,000 |
diluted | 1,811,000,000 | 1,822,000,000 | 1,822,000,000 | 1,834,000,000 | 1,834,000,000 | 1,834,000,000 | 1,831,000,000 | 1,831,000,000 | 1,827,000,000 | 1,825,000,000 | 1,842,000,000 | 1,896,000,000 | 1,892,000,000 |
earnings per common shares outstanding : | |||||||||||||
basic | 1,260,000 | 1,090,000 | 990,000 | 940,000 | 710,000 | 660,000 | 690,000 | 510,000 | 560,000 | 640,000 | 840,000 | 590,000 | 740,000 |
diluted | 1,260,000 | 1,080,000 | 990,000 | 940,000 | 710,000 | 660,000 | 680,000 | 510,000 | 560,000 | 640,000 | 830,000 | 590,000 | 730,000 |
earnings per common shares outstanding | |||||||||||||
basic | 1,260,000 | 1,090,000 | 990,000 | 940,000 | 710,000 | 660,000 | 690,000 | 510,000 | 560,000 | 640,000 | 840,000 | 590,000 | 740,000 |
diluted | 1,260,000 | 1,080,000 | 990,000 | 940,000 | 710,000 | 660,000 | 680,000 | 510,000 | 560,000 | 640,000 | 830,000 | 590,000 | 730,000 |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 | 2019-06-30 | 2019-03-31 | 2018-12-31 | 2018-06-30 | 2018-03-31 | 2017-09-30 | 2017-06-30 | 2016-12-31 | 2016-09-30 | 2016-06-30 | 2016-03-31 | 2015-12-31 | 2015-09-30 | 2015-06-30 | 2015-03-31 | 2014-06-30 | 2014-03-31 | 2013-09-30 | 2013-06-30 | 2013-03-31 | 2012-12-31 | 2012-09-30 | 2012-06-30 | 2012-03-31 | 2011-12-31 | 2011-09-30 | 2011-06-30 | 2011-03-31 |
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assets | |||||||||||||||||||||||||||||||||||||||||||||||||||||
cash and cash equivalents | 30,572,000,000 | 32,195,000,000 | 35,009,000,000 | 42,083,000,000 | 34,850,000,000 | 25,350,000,000 | 31,752,000,000 | 43,337,000,000 | 33,251,000,000 | 47,651,000,000 | 49,162,000,000 | 40,195,000,000 | 46,486,000,000 | 64,550,000,000 | 91,126,000,000 | 62,975,000,000 | 34,323,000,000 | 30,337,000,000 | 48,182,000,000 | 40,348,000,000 | 27,465,000,000 | 33,574,000,000 | 68,458,000,000 | 29,345,000,000 | 20,252,000,000 | 24,199,000,000 | 32,558,000,000 | 27,938,000,000 | 13,250,000,000 | 14,145,000,000 | 12,253,000,000 | 9,575,000,000 | 10,828,000,000 | 10,431,000,000 | 12,976,000,000 | 10,457,000,000 | 11,978,000,000 | 10,366,000,000 | 9,017,000,000 | 9,011,000,000 | 6,832,000,000 | 7,173,000,000 | 7,362,000,000 | 6,234,000,000 | 6,931,000,000 | 12,663,000,000 | 8,523,000,000 | 8,089,000,000 | 6,794,000,000 | 8,679,000,000 | 6,376,000,000 | 6,466,000,000 | 5,548,000,000 |
cash and investments segregated and on deposit for regulatory purposes | 47,754,000,000 | 45,568,000,000 | 38,408,000,000 | 38,221,000,000 | 33,671,000,000 | 21,737,000,000 | 25,905,000,000 | 31,836,000,000 | 18,576,000,000 | 25,083,000,000 | 31,037,000,000 | 42,983,000,000 | 44,118,000,000 | 53,466,000,000 | 54,445,000,000 | 53,949,000,000 | 42,300,000,000 | 39,919,000,000 | 40,423,000,000 | 50,399,000,000 | 29,579,000,000 | 33,188,000,000 | 34,309,000,000 | 20,483,000,000 | 16,164,000,000 | 14,146,000,000 | 13,924,000,000 | 13,563,000,000 | 11,012,000,000 | 12,823,000,000 | 26,897,000,000 | 28,469,000,000 | 25,041,000,000 | 22,723,000,000 | 26,905,000,000 | 26,034,000,000 | 27,009,000,000 | 23,842,000,000 | 23,071,000,000 | ||||||||||||||
receivables from brokers, dealers, and clearing organizations | 4,728,000,000 | 4,304,000,000 | 2,938,000,000 | 2,440,000,000 | 1,317,000,000 | 463,000,000 | 616,000,000 | 553,000,000 | 1,025,000,000 | 894,000,000 | 665,000,000 | 910,000,000 | 728,000,000 | 947,000,000 | 1,008,000,000 | 1,105,000,000 | 582,000,000 | 583,000,000 | 917,000,000 | 457,000,000 | 522,000,000 | 482,000,000 | 511,000,000 | 395,000,000 | 467,000,000 | 333,000,000 | 607,000,000 | 317,000,000 | 588,000,000 | 230,000,000 | 562,000,000 | 456,000,000 | 495,000,000 | ||||||||||||||||||||
receivables from brokerage clients — net | 93,788,000,000 | 82,785,000,000 | 84,449,000,000 | 85,374,000,000 | 74,016,000,000 | 72,836,000,000 | 71,169,000,000 | 68,667,000,000 | 69,062,000,000 | 65,162,000,000 | 63,187,000,000 | 66,591,000,000 | 73,859,000,000 | 76,130,000,000 | 84,070,000,000 | 90,565,000,000 | 86,553,000,000 | 82,245,000,000 | 74,711,000,000 | 64,440,000,000 | 25,441,000,000 | 21,421,000,000 | 19,001,000,000 | 21,767,000,000 | 21,069,000,000 | 21,428,000,000 | 20,529,000,000 | 21,651,000,000 | 22,351,000,000 | 21,153,000,000 | 18,461,000,000 | 17,993,000,000 | 17,155,000,000 | 16,380,000,000 | 16,822,000,000 | 15,961,000,000 | 17,313,000,000 | 17,089,000,000 | 16,618,000,000 | 16,013,000,000 | 14,670,000,000 | 14,571,000,000 | 13,124,000,000 | 12,825,000,000 | 12,454,000,000 | 13,458,000,000 | 11,914,000,000 | 11,955,000,000 | 11,207,000,000 | 11,072,000,000 | 11,081,000,000 | 11,644,000,000 | 11,311,000,000 |
available for sale securities | 62,308,000,000 | 67,612,000,000 | 74,828,000,000 | 82,994,000,000 | 90,018,000,000 | 93,562,000,000 | 101,086,000,000 | 107,646,000,000 | 110,272,000,000 | 125,769,000,000 | 141,334,000,000 | 147,871,000,000 | 236,517,000,000 | 265,277,000,000 | 272,049,000,000 | 390,054,000,000 | 376,968,000,000 | 359,622,000,000 | 342,006,000,000 | 337,400,000,000 | 303,758,000,000 | 281,216,000,000 | 221,232,000,000 | 61,422,000,000 | 56,483,000,000 | 54,648,000,000 | 60,005,000,000 | 66,578,000,000 | 55,522,000,000 | 51,827,000,000 | 48,062,000,000 | 45,634,000,000 | 77,365,000,000 | ||||||||||||||||||||
held to maturity securities | 136,693,000,000 | 139,684,000,000 | 143,815,000,000 | 146,453,000,000 | 149,862,000,000 | 153,179,000,000 | 156,371,000,000 | 159,452,000,000 | 162,452,000,000 | 166,328,000,000 | 169,911,000,000 | 173,074,000,000 | 96,323,000,000 | 100,117,000,000 | 105,286,000,000 | 134,706,000,000 | 140,194,000,000 | 138,326,000,000 | 132,420,000,000 | 144,009,000,000 | 136,792,000,000 | 125,683,000,000 | |||||||||||||||||||||||||||||||
bank loans — net | 53,570,000,000 | 50,405,000,000 | 47,121,000,000 | 45,215,000,000 | 43,311,000,000 | 42,182,000,000 | 40,783,000,000 | 40,439,000,000 | 40,327,000,000 | 40,061,000,000 | 39,964,000,000 | 40,505,000,000 | 40,379,000,000 | 39,564,000,000 | 37,207,000,000 | 34,636,000,000 | 31,570,000,000 | 28,895,000,000 | 25,421,000,000 | 23,813,000,000 | 22,286,000,000 | 20,871,000,000 | 19,521,000,000 | 18,212,000,000 | 16,895,000,000 | 16,639,000,000 | 16,510,000,000 | 16,609,000,000 | 16,569,000,000 | 16,389,000,000 | 16,232,000,000 | 15,817,000,000 | 15,403,000,000 | 14,858,000,000 | 14,670,000,000 | 14,417,000,000 | 14,334,000,000 | 14,252,000,000 | 14,014,000,000 | 13,603,000,000 | |||||||||||||
equipment, office facilities, and property — net | 3,136,000,000 | 3,197,000,000 | 3,276,000,000 | 3,338,000,000 | 3,340,000,000 | 3,436,000,000 | 3,584,000,000 | 3,690,000,000 | 3,730,000,000 | 3,686,000,000 | 3,716,000,000 | 3,714,000,000 | 3,687,000,000 | 3,670,000,000 | 3,499,000,000 | 3,442,000,000 | 3,164,000,000 | 3,136,000,000 | 3,054,000,000 | 2,883,000,000 | 2,346,000,000 | 2,314,000,000 | 2,291,000,000 | 2,128,000,000 | 2,017,000,000 | 1,909,000,000 | 1,813,000,000 | 1,769,000,000 | 1,599,000,000 | 1,540,000,000 | 1,392,000,000 | 1,335,000,000 | 1,299,000,000 | 1,266,000,000 | 1,242,000,000 | 1,159,000,000 | 1,145,000,000 | 1,126,000,000 | 1,091,000,000 | 1,058,000,000 | 883,000,000 | 820,000,000 | 738,000,000 | 711,000,000 | 681,000,000 | 675,000,000 | 672,000,000 | 677,000,000 | 684,000,000 | 685,000,000 | 665,000,000 | 639,000,000 | 627,000,000 |
goodwill | 11,951,000,000 | 11,951,000,000 | 11,951,000,000 | 11,951,000,000 | 11,951,000,000 | 11,951,000,000 | 11,951,000,000 | 11,951,000,000 | 11,951,000,000 | 11,951,000,000 | 11,951,000,000 | 11,951,000,000 | 11,951,000,000 | 11,951,000,000 | 11,952,000,000 | 11,952,000,000 | 11,952,000,000 | 11,952,000,000 | 11,952,000,000 | 11,952,000,000 | 1,737,000,000 | 1,733,000,000 | 1,227,000,000 | 1,227,000,000 | 1,227,000,000 | 1,227,000,000 | 1,227,000,000 | 1,227,000,000 | 1,227,000,000 | 1,227,000,000 | 1,227,000,000 | 1,227,000,000 | 1,227,000,000 | 1,227,000,000 | 1,227,000,000 | 1,227,000,000 | 1,227,000,000 | 1,227,000,000 | 1,227,000,000 | 1,227,000,000 | 1,227,000,000 | 1,227,000,000 | 1,227,000,000 | 1,231,000,000 | 1,231,000,000 | 1,228,000,000 | 1,159,000,000 | 1,165,000,000 | 1,164,000,000 | 1,161,000,000 | 1,138,000,000 | 631,000,000 | 631,000,000 |
acquired intangible assets — net | 7,360,000,000 | 7,487,000,000 | 7,615,000,000 | 7,743,000,000 | 7,873,000,000 | 8,003,000,000 | 8,131,000,000 | 8,260,000,000 | 8,390,000,000 | 8,524,000,000 | 8,659,000,000 | 8,789,000,000 | 8,923,000,000 | 9,075,000,000 | 9,227,000,000 | 9,379,000,000 | 9,532,000,000 | 9,686,000,000 | 9,838,000,000 | 9,991,000,000 | 1,258,000,000 | 1,278,000,000 | |||||||||||||||||||||||||||||||
other assets | 13,395,000,000 | 13,748,000,000 | 13,493,000,000 | 14,031,000,000 | 17,163,000,000 | 17,439,000,000 | 18,052,000,000 | 17,900,000,000 | 17,193,000,000 | 17,290,000,000 | 16,631,000,000 | 16,099,000,000 | 15,320,000,000 | 13,757,000,000 | 12,089,000,000 | 10,318,000,000 | 11,186,000,000 | 8,740,000,000 | 7,870,000,000 | 7,783,000,000 | 5,485,000,000 | 4,889,000,000 | 4,740,000,000 | 4,715,000,000 | 2,872,000,000 | 2,798,000,000 | 2,692,000,000 | 2,046,000,000 | 1,917,000,000 | 2,038,000,000 | 1,571,000,000 | 1,432,000,000 | 1,408,000,000 | 1,292,000,000 | 1,291,000,000 | 1,185,000,000 | 1,174,000,000 | 966,000,000 | 882,000,000 | 856,000,000 | 780,000,000 | 740,000,000 | 770,000,000 | 758,000,000 | 787,000,000 | 813,000,000 | 775,000,000 | 767,000,000 | 783,000,000 | 818,000,000 | 774,000,000 | 957,000,000 | 958,000,000 |
total assets | 465,255,000,000 | 458,936,000,000 | 462,903,000,000 | 479,843,000,000 | 466,055,000,000 | 449,675,000,000 | 468,784,000,000 | 493,178,000,000 | 475,204,000,000 | 511,505,000,000 | 535,552,000,000 | 551,772,000,000 | 577,563,000,000 | 637,557,000,000 | 680,950,000,000 | 667,270,000,000 | 607,548,000,000 | 574,532,000,000 | 563,457,000,000 | 549,009,000,000 | 419,355,000,000 | 400,484,000,000 | 370,779,000,000 | 294,005,000,000 | 278,987,000,000 | 276,321,000,000 | 282,815,000,000 | 296,482,000,000 | 261,882,000,000 | 248,320,000,000 | 230,714,000,000 | 220,601,000,000 | 223,383,000,000 | 209,337,000,000 | 198,052,000,000 | 190,998,000,000 | 183,718,000,000 | 170,402,000,000 | 163,627,000,000 | 160,169,000,000 | 143,401,000,000 | 144,066,000,000 | 140,211,000,000 | 135,907,000,000 | 133,324,000,000 | 133,637,000,000 | 117,658,000,000 | 111,816,000,000 | 111,482,000,000 | 108,553,000,000 | 102,906,000,000 | 97,572,000,000 | 94,883,000,000 |
liabilities and stockholders’ equity | |||||||||||||||||||||||||||||||||||||||||||||||||||||
bank deposits | 239,057,000,000 | 233,058,000,000 | 246,160,000,000 | 259,121,000,000 | 246,462,000,000 | 252,420,000,000 | 269,460,000,000 | 289,953,000,000 | 284,408,000,000 | 304,414,000,000 | 325,745,000,000 | 366,724,000,000 | 395,715,000,000 | 442,003,000,000 | 465,827,000,000 | 443,778,000,000 | 395,275,000,000 | 368,638,000,000 | 369,898,000,000 | 358,022,000,000 | 320,717,000,000 | 301,566,000,000 | 277,477,000,000 | 220,094,000,000 | 209,327,000,000 | 208,375,000,000 | 219,454,000,000 | 231,423,000,000 | 199,922,000,000 | 190,184,000,000 | 165,263,000,000 | 162,300,000,000 | 163,454,000,000 | 149,630,000,000 | 137,295,000,000 | 135,689,000,000 | 129,502,000,000 | 119,017,000,000 | 112,911,000,000 | 109,503,000,000 | |||||||||||||
payables to brokers, dealers, and clearing organizations | 22,407,000,000 | 18,584,000,000 | 15,744,000,000 | 13,336,000,000 | 1,736,000,000 | 4,622,000,000 | 1,602,000,000 | 1,831,000,000 | 3,319,000,000 | 1,122,000,000 | 5,427,000,000 | 1,934,000,000 | 2,407,000,000 | 3,497,000,000 | 3,392,000,000 | 2,848,000,000 | 2,588,000,000 | 2,707,000,000 | 2,518,000,000 | 2,410,000,000 | 1,725,000,000 | 1,918,000,000 | 1,207,000,000 | 2,150,000,000 | 1,152,000,000 | 1,068,000,000 | 1,445,000,000 | 1,332,000,000 | 1,219,000,000 | 1,098,000,000 | 1,358,000,000 | 1,356,000,000 | 1,626,000,000 | ||||||||||||||||||||
payables to brokerage clients | 115,397,000,000 | 109,355,000,000 | 100,579,000,000 | 101,559,000,000 | 89,164,000,000 | 79,966,000,000 | 84,005,000,000 | 84,786,000,000 | 72,818,000,000 | 84,795,000,000 | 87,553,000,000 | 97,438,000,000 | 110,012,000,000 | 114,880,000,000 | 125,307,000,000 | 125,671,000,000 | 113,052,000,000 | 105,012,000,000 | 101,339,000,000 | 104,201,000,000 | 52,006,000,000 | 50,135,000,000 | 49,251,000,000 | 39,220,000,000 | 35,622,000,000 | 31,013,000,000 | 29,701,000,000 | 32,726,000,000 | 30,347,000,000 | 31,088,000,000 | 31,480,000,000 | 33,039,000,000 | 35,894,000,000 | 32,961,000,000 | 32,679,000,000 | 32,282,000,000 | 33,185,000,000 | 31,040,000,000 | 31,480,000,000 | 31,617,000,000 | 31,484,000,000 | 32,308,000,000 | 34,532,000,000 | 36,852,000,000 | 36,888,000,000 | 40,330,000,000 | 34,761,000,000 | 31,833,000,000 | 36,357,000,000 | 35,489,000,000 | 36,595,000,000 | 33,917,000,000 | 32,106,000,000 |
accrued expenses and other liabilities | 11,420,000,000 | 10,808,000,000 | 11,011,000,000 | 12,325,000,000 | 27,579,000,000 | 16,491,000,000 | 17,637,000,000 | 18,400,000,000 | 16,041,000,000 | 13,836,000,000 | 13,220,000,000 | 13,124,000,000 | 13,451,000,000 | 13,699,000,000 | 15,611,000,000 | 17,791,000,000 | 19,249,000,000 | 21,224,000,000 | 16,428,000,000 | 17,094,000,000 | 7,465,000,000 | 9,442,000,000 | 9,259,000,000 | 5,516,000,000 | 3,521,000,000 | 3,567,000,000 | 3,604,000,000 | 2,954,000,000 | 2,408,000,000 | 2,468,000,000 | 2,249,000,000 | 2,021,000,000 | 2,331,000,000 | 1,902,000,000 | 1,820,000,000 | 1,989,000,000 | 2,151,000,000 | 1,549,000,000 | 1,401,000,000 | 1,586,000,000 | 1,433,000,000 | 1,532,000,000 | 1,328,000,000 | 1,210,000,000 | 1,453,000,000 | 1,641,000,000 | 1,455,000,000 | 1,285,000,000 | 1,310,000,000 | 1,397,000,000 | 1,218,000,000 | 1,222,000,000 | 1,400,000,000 |
other short-term borrowings | 6,541,000,000 | 8,472,000,000 | 6,927,000,000 | 5,999,000,000 | 10,593,000,000 | 9,996,000,000 | 8,405,000,000 | 6,553,000,000 | 7,550,000,000 | 7,831,000,000 | 7,071,000,000 | ||||||||||||||||||||||||||||||||||||||||||
federal home loan bank borrowings | 850,000,000 | 9,000,000,000 | 11,500,000,000 | 16,700,000,000 | 22,600,000,000 | 24,400,000,000 | 24,000,000,000 | 26,400,000,000 | 31,800,000,000 | 41,000,000,000 | 45,600,000,000 | ||||||||||||||||||||||||||||||||||||||||||
long-term debt | 20,199,000,000 | 20,208,000,000 | 21,471,000,000 | 22,428,000,000 | 22,442,000,000 | 22,449,000,000 | 22,865,000,000 | 26,128,000,000 | 24,803,000,000 | 22,482,000,000 | 20,016,000,000 | 20,828,000,000 | 20,844,000,000 | 21,112,000,000 | 21,873,000,000 | 18,914,000,000 | 19,530,000,000 | 18,708,000,000 | 17,698,000,000 | 13,632,000,000 | 7,836,000,000 | 8,526,000,000 | 8,522,000,000 | 7,430,000,000 | 7,427,000,000 | 7,424,000,000 | 6,829,000,000 | 6,878,000,000 | 5,789,000,000 | 4,128,000,000 | 3,268,000,000 | 3,518,000,000 | 2,876,000,000 | 2,876,000,000 | 2,876,000,000 | 2,877,000,000 | 2,890,000,000 | 2,893,000,000 | 2,894,000,000 | 2,895,000,000 | 1,901,000,000 | 1,902,000,000 | 1,904,000,000 | 1,630,000,000 | 1,631,000,000 | 1,632,000,000 | 1,776,000,000 | 1,999,000,000 | 2,000,000,000 | 2,001,000,000 | 2,002,000,000 | 2,004,000,000 | 2,005,000,000 |
total liabilities | 415,871,000,000 | 409,485,000,000 | 413,392,000,000 | 431,468,000,000 | 418,840,000,000 | 405,722,000,000 | 426,372,000,000 | 452,220,000,000 | 437,420,000,000 | 474,358,000,000 | 499,205,000,000 | 515,164,000,000 | 540,522,000,000 | 593,044,000,000 | 632,852,000,000 | 611,009,000,000 | 550,106,000,000 | 517,082,000,000 | 507,863,000,000 | 492,949,000,000 | 388,024,000,000 | 369,669,000,000 | 344,509,000,000 | 272,260,000,000 | 257,633,000,000 | 255,001,000,000 | 261,190,000,000 | 275,812,000,000 | 241,785,000,000 | 228,990,000,000 | 212,687,000,000 | 203,112,000,000 | 206,962,000,000 | 193,867,000,000 | 183,062,000,000 | 176,485,000,000 | 170,316,000,000 | 157,206,000,000 | 151,204,000,000 | 148,011,000,000 | 132,231,000,000 | 133,251,000,000 | 130,158,000,000 | 126,187,000,000 | 123,548,000,000 | 124,048,000,000 | 108,193,000,000 | 102,706,000,000 | 103,145,000,000 | 100,839,000,000 | 95,251,000,000 | 90,838,000,000 | 88,396,000,000 |
stockholders’ equity: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
preferred stock — .01 par value per share... | 6,763,000,000 | 6,763,000,000 | 9,191,000,000 | 9,191,000,000 | 9,191,000,000 | 9,191,000,000 | 9,191,000,000 | 9,191,000,000 | 9,191,000,000 | 9,191,000,000 | 9,191,000,000 | 9,706,000,000 | 10,297,000,000 | 10,694,000,000 | 10,694,000,000 | 9,954,000,000 | 9,954,000,000 | 9,954,000,000 | 10,539,000,000 | 7,733,000,000 | 5,263,000,000 | 5,263,000,000 | 2,793,000,000 | 2,793,000,000 | 2,793,000,000 | 2,793,000,000 | 2,793,000,000 | 2,793,000,000 | 2,793,000,000 | 2,793,000,000 | 866,000,000 | 865,000,000 | 864,000,000 | 863,000,000 | 394,000,000 | ||||||||||||||||||
common stock — 3 billion shares authorized; .01 par value per share... | 21,000,000 | 21,000,000 | 21,000,000 | 20,000,000 | 20,000,000 | 20,000,000 | 20,000,000 | 20,000,000 | 20,000,000 | 20,000,000 | 20,000,000 | 20,000,000 | 20,000,000 | 20,000,000 | 20,000,000 | 20,000,000 | 20,000,000 | 20,000,000 | 20,000,000 | 20,000,000 | 15,000,000 | 15,000,000 | 15,000,000 | 15,000,000 | 15,000,000 | 15,000,000 | 15,000,000 | 15,000,000 | 15,000,000 | 15,000,000 | 15,000,000 | 15,000,000 | 15,000,000 | 15,000,000 | 15,000,000 | 15,000,000 | 15,000,000 | 14,000,000 | 14,000,000 | ||||||||||||||
nonvoting common stock — 300 million shares authorized; .01 par value per share... | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | ||||||||||||||||||||||||||||||||||||
additional paid-in capital | 27,910,000,000 | 27,813,000,000 | 27,664,000,000 | 27,639,000,000 | 27,548,000,000 | 27,470,000,000 | 27,358,000,000 | 27,330,000,000 | 27,293,000,000 | 27,220,000,000 | 27,136,000,000 | 27,075,000,000 | 26,975,000,000 | 26,918,000,000 | 26,826,000,000 | 26,741,000,000 | 26,755,000,000 | 26,708,000,000 | 26,629,000,000 | 26,515,000,000 | 4,797,000,000 | 4,760,000,000 | 4,714,000,000 | 4,656,000,000 | 4,640,000,000 | 4,599,000,000 | 4,548,000,000 | 4,499,000,000 | 4,447,000,000 | 4,397,000,000 | 4,365,000,000 | 4,336,000,000 | 4,267,000,000 | 4,254,000,000 | 4,223,000,000 | 4,189,000,000 | 4,152,000,000 | 4,160,000,000 | 4,124,000,000 | 4,085,000,000 | 4,012,000,000 | 3,982,000,000 | 3,964,000,000 | 3,932,000,000 | 3,911,000,000 | 3,881,000,000 | 3,890,000,000 | 3,870,000,000 | 3,842,000,000 | 3,826,000,000 | 3,822,000,000 | 3,087,000,000 | 3,061,000,000 |
retained earnings | 42,170,000,000 | 40,374,000,000 | 38,882,000,000 | 37,568,000,000 | 36,303,000,000 | 35,458,000,000 | 34,701,000,000 | 33,901,000,000 | 33,429,000,000 | 32,865,000,000 | 32,144,000,000 | 31,066,000,000 | 29,651,000,000 | 28,174,000,000 | 26,895,000,000 | 25,992,000,000 | 24,880,000,000 | 23,809,000,000 | 23,029,000,000 | 21,975,000,000 | 21,261,000,000 | 20,876,000,000 | 20,487,000,000 | 19,960,000,000 | 19,374,000,000 | 18,680,000,000 | 18,017,000,000 | 17,329,000,000 | 15,903,000,000 | 15,222,000,000 | 13,963,000,000 | 13,495,000,000 | 12,649,000,000 | 12,261,000,000 | 11,882,000,000 | 11,567,000,000 | 11,253,000,000 | 10,952,000,000 | 10,664,000,000 | 10,412,000,000 | 9,715,000,000 | 9,492,000,000 | 9,034,000,000 | 8,830,000,000 | 8,674,000,000 | 8,554,000,000 | 8,442,000,000 | 8,280,000,000 | 8,097,000,000 | 7,978,000,000 | 7,892,000,000 | 7,745,000,000 | 7,580,000,000 |
treasury stock | -15,682,000,000 | -12,929,000,000 | -12,626,000,000 | -11,196,000,000 | -11,230,000,000 | -11,251,000,000 | -11,283,000,000 | -11,354,000,000 | -11,398,000,000 | -11,420,000,000 | -11,455,000,000 | -8,639,000,000 | -6,751,000,000 | -5,272,000,000 | -5,293,000,000 | -5,338,000,000 | -5,421,000,000 | -5,450,000,000 | -5,502,000,000 | -5,578,000,000 | -5,691,000,000 | -5,710,000,000 | -5,734,000,000 | -5,767,000,000 | -5,612,000,000 | -4,866,000,000 | -3,677,000,000 | -3,714,000,000 | -2,783,000,000 | -2,837,000,000 | -3,990,000,000 | -4,024,000,000 | -4,058,000,000 | -4,072,000,000 | -4,087,000,000 | -4,113,000,000 | -4,130,000,000 | -4,157,000,000 | -4,202,000,000 | ||||||||||||||
accumulated other comprehensive income | -11,798,000,000 | -12,591,000,000 | -13,621,000,000 | -14,848,000,000 | -14,618,000,000 | -16,936,000,000 | -17,576,000,000 | -18,131,000,000 | -20,752,000,000 | -20,730,000,000 | -20,690,000,000 | -22,621,000,000 | -23,152,000,000 | -16,022,000,000 | -11,045,000,000 | -1,109,000,000 | 1,253,000,000 | 2,408,000,000 | 878,000,000 | 5,394,000,000 | 5,686,000,000 | 5,611,000,000 | 3,995,000,000 | 88,000,000 | 144,000,000 | 99,000,000 | -71,000,000 | -252,000,000 | -278,000,000 | -260,000,000 | -106,000,000 | -112,000,000 | -163,000,000 | 31,000,000 | -17,000,000 | -120,000,000 | -134,000,000 | 19,000,000 | 174,000,000 | 231,000,000 | 186,000,000 | 108,000,000 | 46,000,000 | 3,000,000 | 300,000,000 | 298,000,000 | 312,000,000 | 154,000,000 | 76,000,000 | 8,000,000 | 56,000,000 | 45,000,000 | 34,000,000 |
total stockholders’ equity | 49,384,000,000 | 49,451,000,000 | 49,511,000,000 | 48,375,000,000 | 47,215,000,000 | 43,953,000,000 | 42,412,000,000 | 40,958,000,000 | 37,784,000,000 | 37,147,000,000 | 36,347,000,000 | 36,608,000,000 | 37,041,000,000 | 44,513,000,000 | 48,098,000,000 | 56,261,000,000 | 57,442,000,000 | 57,450,000,000 | 55,594,000,000 | 56,060,000,000 | 31,331,000,000 | 30,815,000,000 | 26,270,000,000 | 21,745,000,000 | 21,354,000,000 | 21,320,000,000 | 21,625,000,000 | 20,670,000,000 | 20,097,000,000 | 19,330,000,000 | 18,027,000,000 | 17,489,000,000 | 16,421,000,000 | 15,470,000,000 | 14,990,000,000 | 14,513,000,000 | 13,402,000,000 | 13,196,000,000 | 12,423,000,000 | 12,158,000,000 | 11,170,000,000 | 10,815,000,000 | 10,053,000,000 | 9,720,000,000 | 9,776,000,000 | 9,589,000,000 | 9,465,000,000 | 9,110,000,000 | 8,337,000,000 | 7,714,000,000 | 7,655,000,000 | 6,734,000,000 | 6,487,000,000 |
total liabilities and stockholders’ equity | 465,255,000,000 | 458,936,000,000 | 462,903,000,000 | 479,843,000,000 | 466,055,000,000 | 449,675,000,000 | 468,784,000,000 | 493,178,000,000 | 475,204,000,000 | 511,505,000,000 | 535,552,000,000 | 551,772,000,000 | 577,563,000,000 | 637,557,000,000 | 680,950,000,000 | 667,270,000,000 | 607,548,000,000 | 574,532,000,000 | 563,457,000,000 | 549,009,000,000 | 419,355,000,000 | 400,484,000,000 | 370,779,000,000 | 294,005,000,000 | 278,987,000,000 | 276,321,000,000 | 282,815,000,000 | 296,482,000,000 | 261,882,000,000 | 248,320,000,000 | 230,714,000,000 | 220,601,000,000 | 223,383,000,000 | 209,337,000,000 | 198,052,000,000 | 190,998,000,000 | 183,718,000,000 | 170,402,000,000 | 163,627,000,000 | 160,169,000,000 | 143,401,000,000 | 144,066,000,000 | 140,211,000,000 | 135,907,000,000 | 133,324,000,000 | 133,637,000,000 | 117,658,000,000 | 111,816,000,000 | 111,482,000,000 | 108,553,000,000 | 102,906,000,000 | 97,572,000,000 | 94,883,000,000 |
short-term borrowings | 17,050,000,000 | 500,000,000 | 1,350,000,000 | 4,234,000,000 | 4,855,000,000 | 3,000,000,000 | 3,500,000,000 | 2,500,000,000 | 5,000,000,000 | 300,000,000 | 3,001,000,000 | 5,000,000,000 | 800,000,000 | ||||||||||||||||||||||||||||||||||||||||
other securities owned — at fair value | 497,000,000 | 538,000,000 | 521,000,000 | 539,000,000 | 525,000,000 | 500,000,000 | 427,000,000 | 460,000,000 | 449,000,000 | 858,000,000 | 525,000,000 | 485,000,000 | 533,000,000 | 470,000,000 | 611,000,000 | 657,000,000 | 583,000,000 | 456,000,000 | 482,000,000 | 488,000,000 | 545,000,000 | 636,000,000 | 513,000,000 | 425,000,000 | 456,000,000 | 593,000,000 | 448,000,000 | 410,000,000 | 386,000,000 | ||||||||||||||||||||||||
intangible assets — net | 93,000,000 | 101,000,000 | 115,000,000 | 125,000,000 | 144,000,000 | 154,000,000 | 163,000,000 | 172,000,000 | 181,000,000 | 192,000,000 | 204,000,000 | 216,000,000 | 244,000,000 | 255,000,000 | 278,000,000 | 290,000,000 | 302,000,000 | 319,000,000 | 292,000,000 | 304,000,000 | 316,000,000 | 326,000,000 | 332,000,000 | ||||||||||||||||||||||||||||||
(including resale agreements of 7,247 at september 30, 2017 and 9,547 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
at december 31, 2016) | 15,933,000,000 | 18,483,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||
held to maturity securities (fair value — 114,332 at september 30, 2017 and | |||||||||||||||||||||||||||||||||||||||||||||||||||||
74,444 at december 31, 2016) | 114,376,000,000 | 107,610,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||
of 2,835 at september 30, 2017 and december 31, 2016 | 2,783,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
shares issued | 15,000,000 | 15,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||
154,793,560 shares at december 31, 2016 | -2,993,000,000 | -3,028,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||
(including resale agreements of 7,588 at june 30, 2017 and 9,547 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
held to maturity securities (fair value — 107,446 at june 30, 2017 and | |||||||||||||||||||||||||||||||||||||||||||||||||||||
of 2,835 at june 30, 2017 and december 31, 2016 | 2,783,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
(including resale agreements of 9,547 and 8,088 at december 31, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
and 2015, respectively) | 22,174,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
held to maturity securities (fair value — 74,444 and 50,088 at december 31, | |||||||||||||||||||||||||||||||||||||||||||||||||||||
2016 and 2015, respectively) | 75,203,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
of 2,835 and 1,485 at december 31, 2016 and 2015, respectively | 2,783,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
1,487,543,446 shares issued | 15,000,000 | 15,000,000 | 15,000,000 | 15,000,000 | 15,000,000 | 15,000,000 | 15,000,000 | 15,000,000 | 15,000,000 | 15,000,000 | 15,000,000 | 15,000,000 | |||||||||||||||||||||||||||||||||||||||||
at december 31, 2016 and 2015, respectively | -3,130,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
(including resale agreements of 9,425 at september 30, 2016 and 8,088 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
at december 31, 2015) | 20,077,000,000 | 18,593,000,000 | 20,260,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||
securities available for sale | 75,791,000,000 | 74,228,000,000 | 71,516,000,000 | 65,646,000,000 | 66,354,000,000 | 63,415,000,000 | 61,366,000,000 | 53,203,000,000 | 53,080,000,000 | 51,865,000,000 | 48,414,000,000 | 48,809,000,000 | 46,123,000,000 | 42,448,000,000 | 40,049,000,000 | 37,818,000,000 | 33,965,000,000 | 28,962,000,000 | 27,208,000,000 | 26,046,000,000 | |||||||||||||||||||||||||||||||||
securities held to maturity (fair value — 67,843 at september 30, 2016 and | |||||||||||||||||||||||||||||||||||||||||||||||||||||
50,088 at december 31, 2015) | 66,056,000,000 | 55,307,000,000 | 53,054,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||
of 2,235 at september 30, 2016 and 1,485 at december 31, 2015 | 2,192,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
167,205,881 shares at december 31, 2015 | -3,283,000,000 | -3,302,000,000 | -3,324,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||
(including resale agreements of 7,270 at june 30, 2016 and 8,088 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
securities held to maturity (fair value — 57,195 at june 30, 2016 and | |||||||||||||||||||||||||||||||||||||||||||||||||||||
of 2,235 at june 30, 2016 and 1,485 at december 31, 2015 | 2,189,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
(including resale agreements of 8,263 at march 31, 2016 and 8,088 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
securities held to maturity (fair value — 54,358 at march 31, 2016 and | |||||||||||||||||||||||||||||||||||||||||||||||||||||
of 2,235 at march 31, 2016 and 1,485 at december 31, 2015 | 2,186,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
(including resale agreements of 8,088 and 10,186 at december 31, 2015 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
and 2014, respectively) | 19,598,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
securities held to maturity (fair value — 50,088 and 34,743 at december 31, | |||||||||||||||||||||||||||||||||||||||||||||||||||||
2015 and 2014, respectively) | 50,007,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
of 1,485 and 885 at december 31, 2015 and 2014, respectively | 1,459,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
at december 31, 2015 and 2014, respectively | -3,343,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
(including resale agreements of 7,852 at september 30, 2015 and 10,186 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
at december 31, 2014) | 17,243,000,000 | 17,884,000,000 | 19,384,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||
securities held to maturity (fair value — 41,297 at september 30, 2015 and | |||||||||||||||||||||||||||||||||||||||||||||||||||||
34,743 at december 31, 2014) | 40,534,000,000 | 37,747,000,000 | 36,321,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||
of 1,485 at september 30, 2015 and 885 at december 31, 2014 | 1,457,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
176,821,202 shares at december 31, 2014 | -3,407,000,000 | -3,428,000,000 | -3,458,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||
(including resale agreements of 8,422 at june 30, 2015 and 10,186 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
securities held to maturity (fair value — 37,979 at june 30, 2015 and | |||||||||||||||||||||||||||||||||||||||||||||||||||||
preference of 885 | 874,000,000 | 873,000,000 | 871,000,000 | 870,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||
(including resale agreements of 9,806 at march 31, 2015 and 10,186 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
securities held to maturity (fair value — 37,110 at march 31, 2015 and | |||||||||||||||||||||||||||||||||||||||||||||||||||||
(including resale agreements of 10,440 at june 30, 2014 and 14,016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
at december 31, 2013) | 19,093,000,000 | 20,548,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||
securities held to maturity (fair value — 32,647 at june 30, 2014 and | |||||||||||||||||||||||||||||||||||||||||||||||||||||
29,490 at december 31, 2013) | 32,495,000,000 | 32,123,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||
loans to banking clients — net | 12,869,000,000 | 12,591,000,000 | 12,115,000,000 | 11,732,000,000 | 11,300,000,000 | 10,726,000,000 | 10,102,000,000 | 9,837,000,000 | 9,760,000,000 | 9,812,000,000 | 9,700,000,000 | 9,471,000,000 | 9,130,000,000 | ||||||||||||||||||||||||||||||||||||||||
deposits from banking clients | 95,688,000,000 | 95,591,000,000 | 91,187,000,000 | 84,345,000,000 | 82,424,000,000 | 79,377,000,000 | 68,756,000,000 | 66,257,000,000 | 62,259,000,000 | 60,854,000,000 | 54,078,000,000 | 52,339,000,000 | 51,259,000,000 | ||||||||||||||||||||||||||||||||||||||||
190,657,263 shares at december 31, 2013 | -3,629,000,000 | -3,652,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||
(including resale agreements of 11,776 at march 31, 2014 and 14,016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
securities held to maturity (fair value — 31,669 at march 31, 2014 and | |||||||||||||||||||||||||||||||||||||||||||||||||||||
(including resale agreements of 13,461 at september 30, 2013 and 19,325 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
at december 31, 2012) | 23,520,000,000 | 27,011,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||
securities held to maturity (fair value — 27,717 at september 30, 2013 and | |||||||||||||||||||||||||||||||||||||||||||||||||||||
18,732 at december 31, 2012) | 28,219,000,000 | 25,818,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||
preference of 885 at both september 30, 2013 and december 31, 2012 | 868,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
210,014,305 shares at december 31, 2012 | -3,874,000,000 | -3,927,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||
(including resale agreements of 18,214 at june 30, 2013 and 19,325 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
securities held to maturity (fair value — 25,288 at june 30, 2013 and | |||||||||||||||||||||||||||||||||||||||||||||||||||||
preference of 885 at both june 30, 2013 and december 31, 2012 | 867,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
securities held to maturity | 22,920,000,000 | 18,194,000,000 | 15,612,000,000 | 15,506,000,000 | 14,955,000,000 | 15,108,000,000 | 15,775,000,000 | 15,799,000,000 | 16,646,000,000 | ||||||||||||||||||||||||||||||||||||||||||||
loans held for sale | 2,000,000 | 52,000,000 | 70,000,000 | 84,000,000 | 49,000,000 | 34,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||
preferred stock — 9,940,000 shares authorized; .01 par value per share... |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 | 2019-06-30 | 2019-03-31 | 2018-06-30 | 2018-03-31 | 2017-09-30 | 2016-12-31 | 2016-09-30 | 2016-06-30 | 2016-03-31 | 2015-12-31 | 2015-09-30 | 2015-06-30 | 2015-03-31 | 2014-06-30 | 2014-03-31 | 2013-09-30 | 2013-06-30 | 2013-03-31 | 2012-12-31 | 2012-09-30 | 2012-06-30 | 2012-03-31 | 2011-12-31 | 2011-09-30 | 2011-06-30 | 2011-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
cash flows from operating activities | |||||||||||||||||||||||||||||||||||||||||||||||||||
net income | 2,358,000,000 | 2,126,000,000 | 1,909,000,000 | 1,840,000,000 | 1,408,000,000 | 1,332,000,000 | 1,362,000,000 | 1,045,000,000 | 1,125,000,000 | 1,294,000,000 | 1,603,000,000 | 1,968,000,000 | 2,020,000,000 | 1,793,000,000 | 1,402,000,000 | 1,580,000,000 | 1,526,000,000 | 1,265,000,000 | 1,484,000,000 | 1,135,000,000 | 698,000,000 | 671,000,000 | 795,000,000 | 852,000,000 | 951,000,000 | 937,000,000 | 964,000,000 | 866,000,000 | 783,000,000 | 618,000,000 | 522,000,000 | 503,000,000 | 452,000,000 | 412,000,000 | 416,000,000 | 376,000,000 | 353,000,000 | 302,000,000 | 324,000,000 | 326,000,000 | 290,000,000 | 256,000,000 | 206,000,000 | 211,000,000 | 247,000,000 | 275,000,000 | 195,000,000 | 163,000,000 | 220,000,000 | 238,000,000 | 243,000,000 |
adjustments to reconcile net income to net cash from operating activities: | |||||||||||||||||||||||||||||||||||||||||||||||||||
share-based compensation | 61,000,000 | 72,000,000 | 126,000,000 | 70,000,000 | 65,000,000 | 71,000,000 | 131,000,000 | 60,000,000 | 66,000,000 | 60,000,000 | 134,000,000 | 85,000,000 | 75,000,000 | 62,000,000 | 144,000,000 | 47,000,000 | 48,000,000 | 59,000,000 | 100,000,000 | 80,000,000 | 33,000,000 | 35,000,000 | 56,000,000 | 52,000,000 | 36,000,000 | 39,000,000 | 56,000,000 | 33,000,000 | 50,000,000 | 27,000,000 | |||||||||||||||||||||
depreciation and amortization | 212,000,000 | 215,000,000 | 217,000,000 | 224,000,000 | 231,000,000 | 233,000,000 | 228,000,000 | 238,000,000 | 198,000,000 | 191,000,000 | 177,000,000 | 176,000,000 | 167,000,000 | 159,000,000 | 150,000,000 | 145,000,000 | 140,000,000 | 135,000,000 | 129,000,000 | 130,000,000 | 79,000,000 | 109,000,000 | 96,000,000 | 94,000,000 | 88,000,000 | 84,000,000 | 83,000,000 | 75,000,000 | 73,000,000 | 69,000,000 | 61,000,000 | 60,000,000 | 57,000,000 | 56,000,000 | 58,000,000 | 57,000,000 | 55,000,000 | 54,000,000 | 48,000,000 | 48,000,000 | 51,000,000 | 51,000,000 | 51,000,000 | 50,000,000 | 50,000,000 | 48,000,000 | 48,000,000 | 48,000,000 | 39,000,000 | 33,000,000 | 35,000,000 |
amortization of acquired intangible assets | 127,000,000 | 128,000,000 | 130,000,000 | 130,000,000 | 130,000,000 | 129,000,000 | 130,000,000 | 130,000,000 | 135,000,000 | 134,000,000 | 135,000,000 | 136,000,000 | 152,000,000 | 154,000,000 | 154,000,000 | 154,000,000 | 153,000,000 | 154,000,000 | 154,000,000 | 147,000,000 | |||||||||||||||||||||||||||||||
provision for deferred income taxes | 437,000,000 | -5,000,000 | -35,000,000 | -28,000,000 | -54,000,000 | -483,000,000 | 1,000,000 | 1,000,000 | 3,000,000 | ||||||||||||||||||||||||||||||||||||||||||
premium amortization, net, on available for sale and held to maturity securities | 173,000,000 | 173,000,000 | 178,000,000 | 188,000,000 | 202,000,000 | 211,000,000 | 205,000,000 | 216,000,000 | 222,000,000 | 207,000,000 | 185,000,000 | 212,000,000 | 295,000,000 | 382,000,000 | 486,000,000 | 574,000,000 | 501,000,000 | 321,000,000 | 190,000,000 | 164,000,000 | 123,000,000 | 91,000,000 | 68,000,000 | ||||||||||||||||||||||||||||
other | 206,000,000 | 175,000,000 | 144,000,000 | 182,000,000 | 132,000,000 | 122,000,000 | 116,000,000 | 311,000,000 | 113,000,000 | 146,000,000 | 132,000,000 | 151,000,000 | 152,000,000 | 89,000,000 | 98,000,000 | 126,000,000 | 98,000,000 | 56,000,000 | 92,000,000 | 99,000,000 | 84,000,000 | 83,000,000 | 83,000,000 | 72,000,000 | 62,000,000 | 32,000,000 | 33,000,000 | 41,000,000 | 36,000,000 | 16,000,000 | -16,000,000 | 8,000,000 | 7,000,000 | 10,000,000 | 4,000,000 | 5,000,000 | 2,000,000 | 3,000,000 | 13,000,000 | 7,000,000 | 22,000,000 | 3,000,000 | -50,000,000 | 21,000,000 | 19,000,000 | 19,000,000 | |||||
net change in: | |||||||||||||||||||||||||||||||||||||||||||||||||||
investments segregated and on deposit for regulatory purposes | -1,268,000,000 | -10,757,000,000 | 3,354,000,000 | -13,272,000,000 | -1,546,000,000 | 12,000,000 | 716,000,000 | 6,220,000,000 | 6,707,000,000 | -2,858,000,000 | 13,690,000,000 | 900,000,000 | 8,831,000,000 | -5,977,000,000 | -4,628,000,000 | -7,063,000,000 | -996,000,000 | -361,000,000 | 5,022,000,000 | 4,223,000,000 | 1,767,000,000 | -12,388,000,000 | -3,810,000,000 | -119,000,000 | 31,000,000 | 631,000,000 | -1,520,000,000 | 3,999,000,000 | 853,000,000 | ||||||||||||||||||||||
receivables from brokers, dealers, and clearing organizations | -433,000,000 | -1,367,000,000 | -488,000,000 | -852,000,000 | 157,000,000 | -61,000,000 | -130,000,000 | -245,000,000 | 241,000,000 | 223,000,000 | 61,000,000 | 93,000,000 | -524,000,000 | 2,000,000 | 335,000,000 | -457,000,000 | 12,000,000 | 29,000,000 | -115,000,000 | 72,000,000 | -134,000,000 | 272,000,000 | -290,000,000 | 274,000,000 | -360,000,000 | 331,000,000 | -64,000,000 | 36,000,000 | -83,000,000 | ||||||||||||||||||||||
receivables from brokerage clients | -11,060,000,000 | 1,641,000,000 | 910,000,000 | -11,392,000,000 | -1,199,000,000 | -1,673,000,000 | -2,515,000,000 | 367,000,000 | -3,911,000,000 | -1,986,000,000 | 3,395,000,000 | 7,264,000,000 | 2,263,000,000 | 7,933,000,000 | 6,487,000,000 | -4,025,000,000 | -4,313,000,000 | -7,540,000,000 | -10,290,000,000 | -11,000,000,000 | -4,027,000,000 | -2,345,000,000 | 2,763,000,000 | -701,000,000 | 357,000,000 | -902,000,000 | 1,121,000,000 | -1,201,000,000 | -595,000,000 | -469,000,000 | -778,000,000 | 442,000,000 | -864,000,000 | 1,350,000,000 | -226,000,000 | -472,000,000 | -609,000,000 | -345,000,000 | -100,000,000 | -622,000,000 | -299,000,000 | -372,000,000 | 1,003,000,000 | -1,547,000,000 | 41,000,000 | -749,000,000 | -136,000,000 | 8,000,000 | 746,000,000 | -337,000,000 | -76,000,000 |
other assets | -373,000,000 | -582,000,000 | -83,000,000 | -77,000,000 | -522,000,000 | 786,000,000 | -95,000,000 | -2,222,000,000 | 229,000,000 | -239,000,000 | 212,000,000 | -556,000,000 | 729,000,000 | -15,000,000 | -59,000,000 | 1,828,000,000 | -2,349,000,000 | -740,000,000 | 109,000,000 | 560,000,000 | -447,000,000 | -296,000,000 | 187,000,000 | -681,000,000 | 54,000,000 | -67,000,000 | -15,000,000 | -108,000,000 | -16,000,000 | -26,000,000 | -32,000,000 | -24,000,000 | -58,000,000 | 21,000,000 | -39,000,000 | -26,000,000 | -12,000,000 | -21,000,000 | -23,000,000 | -24,000,000 | -64,000,000 | 45,000,000 | -29,000,000 | -9,000,000 | -30,000,000 | 27,000,000 | 22,000,000 | -47,000,000 | 33,000,000 | -12,000,000 | 11,000,000 |
payables to brokers, dealers, and clearing organizations | 3,824,000,000 | 2,839,000,000 | 2,408,000,000 | 25,000,000 | 109,000,000 | -229,000,000 | 280,000,000 | -325,000,000 | -484,000,000 | -70,000,000 | -264,000,000 | 273,000,000 | -120,000,000 | 335,000,000 | 204,000,000 | -76,000,000 | 345,000,000 | -198,000,000 | 293,000,000 | -561,000,000 | 578,000,000 | 84,000,000 | -56,000,000 | -128,000,000 | 42,000,000 | 170,000,000 | -115,000,000 | -209,000,000 | -270,000,000 | 237,000,000 | |||||||||||||||||||||
payables to brokerage clients | 6,042,000,000 | 8,776,000,000 | -980,000,000 | 12,395,000,000 | 9,198,000,000 | -4,038,000,000 | -782,000,000 | 11,968,000,000 | -11,977,000,000 | -2,758,000,000 | -9,885,000,000 | -12,574,000,000 | -4,868,000,000 | -10,427,000,000 | -364,000,000 | 12,619,000,000 | 8,040,000,000 | 3,673,000,000 | -2,862,000,000 | 14,595,000,000 | 1,871,000,000 | -3,588,000,000 | 10,031,000,000 | 3,598,000,000 | 4,609,000,000 | 1,312,000,000 | -3,025,000,000 | -741,000,000 | -155,000,000 | -1,559,000,000 | 2,933,000,000 | 282,000,000 | 397,000,000 | -903,000,000 | 2,145,000,000 | -440,000,000 | -137,000,000 | -2,688,000,000 | -824,000,000 | -3,025,000,000 | -2,320,000,000 | -36,000,000 | -3,442,000,000 | 5,569,000,000 | 3,037,000,000 | -4,524,000,000 | 868,000,000 | -1,106,000,000 | 1,457,000,000 | 1,811,000,000 | 1,245,000,000 |
accrued expenses and other liabilities | 232,000,000 | -257,000,000 | -1,431,000,000 | -8,662,000,000 | 11,053,000,000 | -1,377,000,000 | -796,000,000 | 2,187,000,000 | 2,081,000,000 | 592,000,000 | -4,000,000 | 92,000,000 | -742,000,000 | -2,078,000,000 | -798,000,000 | -448,000,000 | -1,067,000,000 | 2,125,000,000 | 712,000,000 | 955,000,000 | -273,000,000 | 162,000,000 | -123,000,000 | -192,000,000 | -88,000,000 | -48,000,000 | -346,000,000 | 211,000,000 | 393,000,000 | 105,000,000 | -179,000,000 | -152,000,000 | 557,000,000 | 205,000,000 | -167,000,000 | -291,000,000 | -139,000,000 | -81,000,000 | 121,000,000 | -90,000,000 | 132,000,000 | -163,000,000 | 89,000,000 | -74,000,000 | -89,000,000 | 144,000,000 | -73,000,000 | -110,000,000 | -144,000,000 | ||
net cash from operating activities | 538,000,000 | 3,177,000,000 | 6,359,000,000 | -10,827,000,000 | 19,098,000,000 | -4,252,000,000 | -1,349,000,000 | 20,037,000,000 | -5,011,000,000 | -5,216,000,000 | 9,777,000,000 | -2,107,000,000 | 9,054,000,000 | -7,943,000,000 | 3,053,000,000 | 5,639,000,000 | 1,815,000,000 | -594,000,000 | -4,742,000,000 | 13,257,000,000 | -80,000,000 | -16,443,000,000 | 10,118,000,000 | 4,304,000,000 | 5,402,000,000 | 2,214,000,000 | -2,595,000,000 | 3,132,000,000 | 248,000,000 | 1,319,000,000 | 1,688,000,000 | -549,000,000 | 1,892,000,000 | -369,000,000 | 892,000,000 | 1,091,000,000 | 568,000,000 | -1,305,000,000 | 432,000,000 | 69,000,000 | 661,000,000 | 532,000,000 | -368,000,000 | 893,000,000 | 605,000,000 | -330,000,000 | 98,000,000 | 452,000,000 | 94,000,000 | 615,000,000 | 1,303,000,000 |
capital expenditures | -145,000,000 | -128,000,000 | -117,000,000 | -254,000,000 | -128,000,000 | -89,000,000 | -149,000,000 | -63,000,000 | -239,000,000 | -239,000,000 | -159,000,000 | -202,000,000 | -232,000,000 | -241,000,000 | -296,000,000 | -313,000,000 | -178,000,000 | -239,000,000 | -186,000,000 | -166,000,000 | -130,000,000 | -179,000,000 | -156,000,000 | -193,000,000 | -205,000,000 | -171,000,000 | -139,000,000 | -131,000,000 | -122,000,000 | -103,000,000 | 0 | -77,000,000 | -139,000,000 | -56,000,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
free cash flows | 393,000,000 | 3,049,000,000 | 6,242,000,000 | -11,081,000,000 | 18,970,000,000 | -4,341,000,000 | -1,498,000,000 | 19,974,000,000 | -5,250,000,000 | -5,455,000,000 | 9,618,000,000 | -2,309,000,000 | 8,822,000,000 | -8,184,000,000 | 2,757,000,000 | 5,326,000,000 | 1,637,000,000 | -833,000,000 | -4,928,000,000 | 13,091,000,000 | -210,000,000 | -16,622,000,000 | 9,962,000,000 | 4,111,000,000 | 5,197,000,000 | 2,043,000,000 | -2,734,000,000 | 3,001,000,000 | 126,000,000 | 1,216,000,000 | 1,688,000,000 | -626,000,000 | 1,753,000,000 | -425,000,000 | 892,000,000 | 1,091,000,000 | 568,000,000 | -1,305,000,000 | 432,000,000 | 69,000,000 | 661,000,000 | 532,000,000 | -368,000,000 | 893,000,000 | 605,000,000 | -330,000,000 | 98,000,000 | 452,000,000 | 94,000,000 | 615,000,000 | 1,303,000,000 |
cash flows from investing activities | |||||||||||||||||||||||||||||||||||||||||||||||||||
purchases of available for sale securities | -859,000,000 | -820,000,000 | -1,067,000,000 | -736,000,000 | -992,000,000 | -735,000,000 | -523,000,000 | -712,000,000 | -1,112,000,000 | -3,443,000,000 | -15,744,000,000 | -30,710,000,000 | -41,619,000,000 | -47,974,000,000 | -40,481,000,000 | -41,658,000,000 | -55,306,000,000 | -45,198,000,000 | -73,898,000,000 | -27,769,000,000 | -11,071,000,000 | -14,977,000,000 | -4,635,000,000 | -1,132,000,000 | -7,330,000,000 | -4,631,000,000 | -3,298,000,000 | ||||||||||||||||||||||||
proceeds from sales of available for sale securities | 1,206,000,000 | 2,584,000,000 | 1,621,000,000 | 603,000,000 | 886,000,000 | 854,000,000 | 1,189,000,000 | 2,080,000,000 | 3,485,000,000 | 1,849,000,000 | 1,051,000,000 | 685,000,000 | 10,549,000,000 | 3,949,000,000 | 9,521,000,000 | 1,967,000,000 | 1,697,000,000 | 3,037,000,000 | 6,605,000,000 | 1,906,000,000 | 2,825,000,000 | 1,000,000 | 69,000,000 | 2,785,000,000 | 5,436,000,000 | 5,622,000,000 | 10,652,000,000 | 288,000,000 | |||||||||||||||||||||||
principal payments on available for sale securities | 5,512,000,000 | 6,121,000,000 | 8,772,000,000 | 6,007,000,000 | 6,238,000,000 | 7,535,000,000 | 5,809,000,000 | 4,915,000,000 | 11,412,000,000 | 12,869,000,000 | 7,312,000,000 | 9,441,000,000 | 11,970,000,000 | 11,641,000,000 | 16,892,000,000 | 21,376,000,000 | 26,280,000,000 | 23,347,000,000 | 23,909,000,000 | 20,566,000,000 | 18,004,000,000 | 14,486,000,000 | 10,191,000,000 | 3,242,000,000 | 6,068,000,000 | 6,267,000,000 | 6,039,000,000 | 4,262,000,000 | 2,695,000,000 | 1,834,000,000 | |||||||||||||||||||||
purchases of held to maturity securities | -247,000,000 | -48,000,000 | -381,000,000 | -580,000,000 | -8,392,000,000 | -9,234,000,000 | -1,235,000,000 | -13,977,000,000 | -8,235,000,000 | -7,577,000,000 | |||||||||||||||||||||||||||||||||||||||||
principal payments on held to maturity securities | 3,660,000,000 | 4,615,000,000 | 3,432,000,000 | 3,833,000,000 | 3,753,000,000 | 3,626,000,000 | 3,509,000,000 | 3,431,000,000 | 4,358,000,000 | 4,059,000,000 | 3,613,000,000 | 3,279,000,000 | 3,775,000,000 | 5,153,000,000 | 3,505,000,000 | 5,953,000,000 | 5,187,000,000 | 4,470,000,000 | 3,996,000,000 | 3,926,000,000 | 3,548,000,000 | 3,458,000,000 | |||||||||||||||||||||||||||||
net change in bank loans | -3,196,000,000 | -3,302,000,000 | -1,928,000,000 | -1,852,000,000 | -1,180,000,000 | -1,406,000,000 | -349,000,000 | -95,000,000 | -219,000,000 | -108,000,000 | 521,000,000 | -135,000,000 | -823,000,000 | -2,337,000,000 | -2,493,000,000 | -3,026,000,000 | -2,633,000,000 | -3,406,000,000 | -1,780,000,000 | -1,572,000,000 | -1,440,000,000 | -1,336,000,000 | -1,327,000,000 | -1,392,000,000 | -279,000,000 | -184,000,000 | 74,000,000 | ||||||||||||||||||||||||
purchases of equipment, office facilities, and property | -145,000,000 | -128,000,000 | -117,000,000 | -254,000,000 | -128,000,000 | -89,000,000 | -149,000,000 | -63,000,000 | -239,000,000 | -239,000,000 | -159,000,000 | -202,000,000 | -232,000,000 | -241,000,000 | -296,000,000 | -313,000,000 | -178,000,000 | -239,000,000 | -186,000,000 | -166,000,000 | -130,000,000 | -179,000,000 | -156,000,000 | -193,000,000 | -205,000,000 | -171,000,000 | -139,000,000 | -131,000,000 | -122,000,000 | -103,000,000 | -77,000,000 | -139,000,000 | -56,000,000 | ||||||||||||||||||
purchases of fhlb stock | -272,000,000 | -123,000,000 | -194,000,000 | -109,000,000 | -312,000,000 | -294,000,000 | -180,000,000 | -217,000,000 | -90,000,000 | -123,000,000 | -1,439,000,000 | ||||||||||||||||||||||||||||||||||||||||
proceeds from sales of fhlb stock | 618,000,000 | 225,000,000 | 419,000,000 | 383,000,000 | 385,000,000 | 296,000,000 | 324,000,000 | 468,000,000 | 794,000,000 | 0 | 82,000,000 | ||||||||||||||||||||||||||||||||||||||||
purchases of federal reserve stock | 0 | -5,000,000 | -4,000,000 | -55,000,000 | -27,000,000 | -25,000,000 | -82,000,000 | -9,000,000 | -130,000,000 | -21,000,000 | 0 | -58,000,000 | -27,000,000 | -21,000,000 | -105,000,000 | -109,000,000 | -10,000,000 | -1,000,000 | -8,000,000 | 0 | -182,000,000 | ||||||||||||||||||||||||||||||
proceeds from sales of federal reserve stock | 4,000,000 | 0 | 4,000,000 | 0 | 0 | 0 | 98,000,000 | 181,000,000 | 12,000,000 | ||||||||||||||||||||||||||||||||||||||||||
other investing activities | -138,000,000 | -43,000,000 | -87,000,000 | -86,000,000 | -107,000,000 | -56,000,000 | -73,000,000 | -116,000,000 | -63,000,000 | -58,000,000 | -50,000,000 | -77,000,000 | -48,000,000 | 23,000,000 | -34,000,000 | -57,000,000 | -38,000,000 | -10,000,000 | -38,000,000 | 157,000,000 | -41,000,000 | -79,000,000 | -22,000,000 | -38,000,000 | -27,000,000 | -16,000,000 | 25,000,000 | -11,000,000 | -40,000,000 | -38,000,000 | -14,000,000 | 107,000,000 | -17,000,000 | 0 | 0 | 2,000,000 | -7,000,000 | -4,000,000 | 5,000,000 | 5,000,000 | 1,000,000 | ||||||||||
net cash from investing activities | 6,143,000,000 | 9,076,000,000 | 10,470,000,000 | 7,734,000,000 | 8,516,000,000 | 9,706,000,000 | 9,475,000,000 | 9,682,000,000 | 18,533,000,000 | 18,167,000,000 | 11,029,000,000 | 11,540,000,000 | 21,760,000,000 | 2,390,000,000 | -3,642,000,000 | -21,693,000,000 | -22,951,000,000 | -17,861,000,000 | -13,158,000,000 | -22,406,000,000 | -26,000,000,000 | -58,249,000,000 | -19,196,000,000 | -1,295,000,000 | -7,189,000,000 | 2,163,000,000 | 18,285,000,000 | -13,115,000,000 | -6,539,000,000 | -5,914,000,000 | -12,731,000,000 | -12,210,000,000 | -5,072,000,000 | -8,762,000,000 | -9,705,000,000 | -6,350,000,000 | -3,906,000,000 | -8,662,000,000 | -800,000,000 | -3,210,000,000 | -6,605,000,000 | -3,117,000,000 | -8,035,000,000 | -7,418,000,000 | -2,354,000,000 | -2,768,000,000 | -3,720,000,000 | -4,846,000,000 | -1,754,000,000 | -681,000,000 | -1,386,000,000 |
cash flows from financing activities | |||||||||||||||||||||||||||||||||||||||||||||||||||
net change in bank deposits | 5,999,000,000 | -13,102,000,000 | -12,961,000,000 | 12,659,000,000 | -5,958,000,000 | -17,040,000,000 | -20,493,000,000 | 5,545,000,000 | -20,006,000,000 | -21,331,000,000 | -40,979,000,000 | -28,991,000,000 | -46,288,000,000 | -23,824,000,000 | 22,049,000,000 | 48,503,000,000 | 26,637,000,000 | -1,260,000,000 | 11,876,000,000 | 37,305,000,000 | 19,151,000,000 | 24,089,000,000 | 57,383,000,000 | 10,767,000,000 | 952,000,000 | -11,079,000,000 | -11,969,000,000 | 9,738,000,000 | 20,528,000,000 | 2,963,000,000 | 13,824,000,000 | 12,335,000,000 | 1,606,000,000 | 6,187,000,000 | 10,485,000,000 | 6,106,000,000 | 3,408,000,000 | 6,688,000,000 | |||||||||||||
proceeds from fhlb borrowings | 8,760,000,000 | 3,000,000,000 | 5,000,000,000 | 3,000,000,000 | 7,800,000,000 | 7,201,000,000 | 5,000,000,000 | 7,400,000,000 | 2,600,000,000 | 3,000,000,000 | 36,200,000,000 | ||||||||||||||||||||||||||||||||||||||||
repayments of fhlb borrowings | -16,910,000,000 | -5,500,000,000 | -10,200,000,000 | -8,900,000,000 | -9,600,000,000 | -6,801,000,000 | -7,400,000,000 | -12,800,000,000 | -11,800,000,000 | -7,600,000,000 | -3,000,000,000 | ||||||||||||||||||||||||||||||||||||||||
proceeds from other short-term borrowings | 7,169,000,000 | 11,861,000,000 | 8,498,000,000 | 8,792,000,000 | 7,359,000,000 | 6,816,000,000 | 4,050,000,000 | 2,810,000,000 | 6,076,000,000 | 4,457,000,000 | 3,657,000,000 | ||||||||||||||||||||||||||||||||||||||||
repayments of other short-term borrowings | -9,117,000,000 | -10,332,000,000 | -7,574,000,000 | -13,386,000,000 | -6,762,000,000 | -5,225,000,000 | -2,198,000,000 | -3,808,000,000 | -6,357,000,000 | -3,698,000,000 | -1,241,000,000 | ||||||||||||||||||||||||||||||||||||||||
repayments of long-term debt | -6,000,000 | -1,256,000,000 | -981,000,000 | -6,000,000 | -6,000,000 | -410,000,000 | -3,260,000,000 | -8,000,000 | -8,000,000 | -7,000,000 | -808,000,000 | ||||||||||||||||||||||||||||||||||||||||
redemption of preferred stock | 0 | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||
repurchases of common stock and nonvoting common stock | -2,748,000,000 | 0 | 0 | 0 | -2,842,000,000 | -1,940,000,000 | |||||||||||||||||||||||||||||||||||||||||||||
dividends paid | -562,000,000 | -608,000,000 | -595,000,000 | -575,000,000 | -563,000,000 | -575,000,000 | -562,000,000 | -573,000,000 | -561,000,000 | -574,000,000 | -568,000,000 | -551,000,000 | -539,000,000 | -511,000,000 | -509,000,000 | -453,000,000 | -469,000,000 | -455,000,000 | -445,000,000 | -406,000,000 | -327,000,000 | -266,000,000 | -281,000,000 | -252,000,000 | -271,000,000 | -261,000,000 | -276,000,000 | -170,000,000 | -184,000,000 | -163,000,000 | -121,000,000 | -135,000,000 | -120,000,000 | -110,000,000 | -99,000,000 | -100,000,000 | -88,000,000 | -100,000,000 | -86,000,000 | -100,000,000 | -99,000,000 | -86,000,000 | -98,000,000 | -85,000,000 | -98,000,000 | -77,000,000 | -77,000,000 | -77,000,000 | -73,000,000 | -73,000,000 | -72,000,000 |
proceeds from stock options exercised | 32,000,000 | 70,000,000 | 39,000,000 | 31,000,000 | 10,000,000 | 21,000,000 | 22,000,000 | 16,000,000 | 9,000,000 | 5,000,000 | 19,000,000 | 22,000,000 | 9,000,000 | 3,000,000 | 30,000,000 | 59,000,000 | 18,000,000 | 47,000,000 | 97,000,000 | 44,000,000 | 6,000,000 | 6,000,000 | 23,000,000 | 53,000,000 | 17,000,000 | 22,000,000 | 26,000,000 | ||||||||||||||||||||||||
other financing activities | -2,000,000 | -7,000,000 | -88,000,000 | -11,000,000 | -6,000,000 | 1,000,000 | -85,000,000 | -23,000,000 | -6,000,000 | -4,000,000 | -67,000,000 | -41,000,000 | -7,000,000 | 3,000,000 | -49,000,000 | -63,000,000 | -11,000,000 | -5,000,000 | -25,000,000 | -47,000,000 | -1,000,000 | -1,000,000 | -6,000,000 | -28,000,000 | 0 | -3,000,000 | -10,000,000 | -1,000,000 | -10,000,000 | -2,000,000 | 36,000,000 | 3,000,000 | 3,000,000 | 2,000,000 | 19,000,000 | 6,000,000 | 4,000,000 | 3,000,000 | 2,000,000 | 4,000,000 | -1,000,000 | 1,000,000 | -8,000,000 | 3,000,000 | |||||||
net cash from financing activities | -7,385,000,000 | -18,665,000,000 | -20,362,000,000 | 1,604,000,000 | -7,726,000,000 | -16,012,000,000 | -24,926,000,000 | -153,000,000 | -27,722,000,000 | -23,274,000,000 | -10,096,000,000 | -15,959,000,000 | -49,394,000,000 | -27,979,000,000 | 24,609,000,000 | 49,291,000,000 | 26,507,000,000 | -254,000,000 | 20,779,000,000 | 41,347,000,000 | 18,129,000,000 | 26,298,000,000 | 58,208,000,000 | 10,284,000,000 | -111,000,000 | -11,883,000,000 | -12,229,000,000 | 11,276,000,000 | 4,756,000,000 | 7,273,000,000 | 11,440,000,000 | 10,214,000,000 | 5,699,000,000 | 7,610,000,000 | 10,425,000,000 | 6,608,000,000 | 3,344,000,000 | 7,615,000,000 | 27,000,000 | 2,586,000,000 | 7,072,000,000 | 1,888,000,000 | 2,671,000,000 | 10,665,000,000 | 2,183,000,000 | 4,393,000,000 | 1,737,000,000 | 6,697,000,000 | 1,570,000,000 | 984,000,000 | 700,000,000 |
increase in cash and cash equivalents, including amounts restricted | -704,000,000 | -6,412,000,000 | -3,533,000,000 | -1,489,000,000 | 19,888,000,000 | -10,558,000,000 | -16,800,000,000 | 29,566,000,000 | -14,200,000,000 | -10,323,000,000 | 10,710,000,000 | -6,526,000,000 | -18,580,000,000 | -33,532,000,000 | 24,020,000,000 | 33,237,000,000 | 5,371,000,000 | -18,709,000,000 | 2,879,000,000 | 32,198,000,000 | -7,951,000,000 | -48,394,000,000 | 49,130,000,000 | 13,293,000,000 | -1,898,000,000 | -7,506,000,000 | 3,461,000,000 | 1,293,000,000 | -1,535,000,000 | ||||||||||||||||||||||
cash and cash equivalents, including amounts restricted at beginning of year | 0 | 0 | 65,514,000,000 | 0 | 0 | 0 | 74,473,000,000 | 0 | 0 | 0 | 58,720,000,000 | 0 | 0 | 0 | 38,227,000,000 | ||||||||||||||||||||||||||||||||||||
cash and cash equivalents, including amounts restricted at end of period | -704,000,000 | -6,412,000,000 | 61,981,000,000 | 19,888,000,000 | -10,558,000,000 | 57,673,000,000 | -14,200,000,000 | -10,323,000,000 | 69,430,000,000 | -18,580,000,000 | -33,532,000,000 | 117,358,000,000 | 5,371,000,000 | -18,709,000,000 | 73,439,000,000 | -7,951,000,000 | -48,394,000,000 | 94,707,000,000 | -1,898,000,000 | -7,506,000,000 | 41,688,000,000 | 1,293,000,000 | 17,625,000,000 | ||||||||||||||||||||||||||||
repurchase of nonvoting common stock | -1,500,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||
issuances of long-term debt | 1,288,000,000 | 2,331,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||
issuance of preferred stock | |||||||||||||||||||||||||||||||||||||||||||||||||||
redemption and repurchase of preferred stock | 0 | 0 | 0 | -467,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||
cash and cash equivalents, including amounts restricted at end of year | |||||||||||||||||||||||||||||||||||||||||||||||||||
benefit for deferred income taxes | -49,000,000 | 39,000,000 | -20,000,000 | -18,000,000 | -19,000,000 | 114,000,000 | -25,000,000 | -20,000,000 | -16,000,000 | ||||||||||||||||||||||||||||||||||||||||||
net proceeds from preferred stock offerings | 0 | 0 | 0 | 740,000,000 | 0 | 0 | 0 | 2,806,000,000 | 2,470,000,000 | 0 | 0 | -1,000,000 | |||||||||||||||||||||||||||||||||||||||
cash acquired in acquisitions, net of cash paid | |||||||||||||||||||||||||||||||||||||||||||||||||||
purchases of federal home loan bank stock | -14,000,000 | 0 | -25,000,000 | 0 | 0 | -2,000,000 | -73,000,000 | 0 | |||||||||||||||||||||||||||||||||||||||||||
proceeds from sales of federal home loan bank stock | 356,000,000 | 172,000,000 | 6,000,000 | 0 | |||||||||||||||||||||||||||||||||||||||||||||||
proceeds from commercial paper and secured lines of credit | 247,000,000 | 500,000,000 | 5,000,000 | 1,148,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||
repayments of commercial paper and secured lines of credit | -500,000,000 | -1,350,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||
net change in other short-term borrowings | |||||||||||||||||||||||||||||||||||||||||||||||||||
issuance of long-term debt | 0 | 0 | 2,971,000,000 | 0 | 839,000,000 | 2,227,000,000 | 3,970,000,000 | 1,981,000,000 | 0 | 0 | 1,089,000,000 | 0 | 0 | 0 | 348,000,000 | 0 | 0 | 998,000,000 | |||||||||||||||||||||||||||||||||
repayment of long-term debt | -264,000,000 | -607,000,000 | -7,000,000 | 0 | -277,000,000 | -627,000,000 | -252,000,000 | -2,000,000 | -525,000,000 | -204,000,000 | -2,000,000 | -1,000,000 | -1,000,000 | -112,000,000 | -2,000,000 | -1,000,000 | |||||||||||||||||||||||||||||||||||
cash and cash equivalents, including amounts restricted at beginning of period | 0 | 0 | 93,338,000,000 | 0 | 0 | 70,560,000,000 | 0 | 0 | 45,577,000,000 | 0 | 19,160,000,000 | ||||||||||||||||||||||||||||||||||||||||
repayment of commercial paper and secured lines of credit | -1,771,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||
premium amortization, net, on available for sale securities | 562,000,000 | 560,000,000 | 600,000,000 | 624,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||
repurchases of common stock | -256,000,000 | -809,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||
proceeds from secured lines of credit | |||||||||||||||||||||||||||||||||||||||||||||||||||
repayment of secured lines of credit | |||||||||||||||||||||||||||||||||||||||||||||||||||
net change in short-term borrowings | 1,000,000,000 | 2,500,000,000 | 0 | -15,000,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||
cash acquired in acquisition, net of cash paid | -12,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||
other securities owned | 41,000,000 | -17,000,000 | 18,000,000 | -25,000,000 | 39,000,000 | 33,000,000 | 409,000,000 | -333,000,000 | -40,000,000 | 48,000,000 | -63,000,000 | 141,000,000 | 46,000,000 | -141,000,000 | -127,000,000 | 61,000,000 | 6,000,000 | 57,000,000 | 91,000,000 | -123,000,000 | -88,000,000 | 31,000,000 | 137,000,000 | -145,000,000 | -6,000,000 | -31,000,000 | -49,000,000 | ||||||||||||||||||||||||
net increase in bank loans | 81,000,000 | -411,000,000 | -503,000,000 | -238,000,000 | -223,000,000 | -139,000,000 | -117,000,000 | -231,000,000 | -411,000,000 | -221,000,000 | |||||||||||||||||||||||||||||||||||||||||
cash and cash equivalents including amounts restricted at beginning of year | |||||||||||||||||||||||||||||||||||||||||||||||||||
premium amortization, net, on available for sale securities and held to maturity securities | 91,000,000 | 96,000,000 | 92,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||
proceeds from stock options exercised and other | 50,000,000 | 49,000,000 | 27,000,000 | 113,000,000 | 12,000,000 | 12,000,000 | 7,000,000 | 23,000,000 | 17,000,000 | 22,000,000 | 28,000,000 | 16,000,000 | 65,000,000 | 59,000,000 | 56,000,000 | 25,000,000 | 9,000,000 | 6,000,000 | 5,000,000 | 15,000,000 | 7,000,000 | 16,000,000 | 35,000,000 | 38,000,000 | |||||||||||||||||||||||||||
benefit from loan losses | 2,000,000 | 0 | 1,000,000 | -4,000,000 | -1,000,000 | 6,000,000 | 2,000,000 | 10,000,000 | 5,000,000 | 8,000,000 | 1,000,000 | 4,000,000 | |||||||||||||||||||||||||||||||||||||||
cash and investments segregated and on deposit for regulatory purposes | 2,550,000,000 | -2,097,000,000 | -1,484,000,000 | 1,667,000,000 | -662,000,000 | -2,355,000,000 | 641,000,000 | 1,500,000,000 | 1,397,000,000 | 1,455,000,000 | 3,005,000,000 | 3,491,000,000 | -114,000,000 | 1,572,000,000 | -3,429,000,000 | -2,431,000,000 | 4,182,000,000 | -871,000,000 | 976,000,000 | -2,094,000,000 | -771,000,000 | -322,000,000 | |||||||||||||||||||||||||||||
net proceeds from short-term borrowings | 4,700,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||
net proceeds from preferred stock offering | 0 | 0 | 725,000,000 | 0 | 394,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||
increase in cash and cash equivalents | 2,678,000,000 | 1,612,000,000 | 4,140,000,000 | 434,000,000 | 1,295,000,000 | -1,885,000,000 | 2,303,000,000 | -90,000,000 | 918,000,000 | 617,000,000 | |||||||||||||||||||||||||||||||||||||||||
cash and cash equivalents at beginning of period | 0 | 0 | 0 | 11,978,000,000 | 0 | 0 | 11,363,000,000 | 0 | 7,728,000,000 | 0 | 0 | 12,663,000,000 | 0 | 0 | 8,679,000,000 | 0 | 0 | 4,931,000,000 | |||||||||||||||||||||||||||||||||
cash and cash equivalents at end of period | 2,678,000,000 | -2,545,000,000 | 2,519,000,000 | 10,457,000,000 | 1,349,000,000 | 6,000,000 | 9,011,000,000 | -341,000,000 | 7,173,000,000 | 1,128,000,000 | -697,000,000 | 6,931,000,000 | 434,000,000 | 1,295,000,000 | 6,794,000,000 | -90,000,000 | 918,000,000 | 5,548,000,000 | |||||||||||||||||||||||||||||||||
supplemental cash flow information | |||||||||||||||||||||||||||||||||||||||||||||||||||
cash paid during the period for: | |||||||||||||||||||||||||||||||||||||||||||||||||||
interest | 116,000,000 | 19,000,000 | 67,000,000 | 18,000,000 | 56,000,000 | 14,000,000 | 54,000,000 | 7,000,000 | 46,000,000 | 11,000,000 | 40,000,000 | 38,000,000 | 11,000,000 | 40,000,000 | 25,000,000 | 44,000,000 | 38,000,000 | 36,000,000 | 41,000,000 | 41,000,000 | 44,000,000 | 42,000,000 | |||||||||||||||||||||||||||||
income taxes | 293,000,000 | 234,000,000 | 252,000,000 | 486,000,000 | 19,000,000 | 212,000,000 | 212,000,000 | 332,000,000 | 54,000,000 | 352,000,000 | 51,000,000 | 171,000,000 | 242,000,000 | 35,000,000 | 129,000,000 | 158,000,000 | 209,000,000 | 12,000,000 | 101,000,000 | 91,000,000 | 307,000,000 | 18,000,000 | |||||||||||||||||||||||||||||
non-cash investing activity: | |||||||||||||||||||||||||||||||||||||||||||||||||||
securities purchased during the period but settled after period end | 370,000,000 | 271,000,000 | 380,000,000 | -15,000,000 | 185,000,000 | 60,000,000 | 5,000,000 | 158,000,000 | -382,000,000 | ||||||||||||||||||||||||||||||||||||||||||
net impairment losses on securities | 1,000,000 | 3,000,000 | 4,000,000 | 4,000,000 | 3,000,000 | 7,000,000 | 18,000,000 | 9,000,000 | 13,000,000 | 2,000,000 | 7,000,000 | ||||||||||||||||||||||||||||||||||||||||
purchase of equipment, office facilities, and property | -62,000,000 | -79,000,000 | -70,000,000 | -55,000,000 | -112,000,000 | -53,000,000 | -65,000,000 | -62,000,000 | -49,000,000 | -41,000,000 | -31,000,000 | -34,000,000 | -42,000,000 | -43,000,000 | -60,000,000 | -39,000,000 | -38,000,000 | ||||||||||||||||||||||||||||||||||
proceeds from short-term federal home loan bank borrowings | |||||||||||||||||||||||||||||||||||||||||||||||||||
repayment of short-term federal home loan bank borrowings | |||||||||||||||||||||||||||||||||||||||||||||||||||
cash and cash equivalents at beginning of year | |||||||||||||||||||||||||||||||||||||||||||||||||||
cash and cash equivalents at end of year | |||||||||||||||||||||||||||||||||||||||||||||||||||
cash paid during the year for: | |||||||||||||||||||||||||||||||||||||||||||||||||||
securities purchased during the year but settled after year end | |||||||||||||||||||||||||||||||||||||||||||||||||||
stock-based compensation | 26,000,000 | 28,000,000 | 47,000,000 | 37,000,000 | 29,000,000 | 30,000,000 | 39,000,000 | 25,000,000 | 29,000,000 | 24,000,000 | 22,000,000 | 37,000,000 | 26,000,000 | 25,000,000 | 29,000,000 | 25,000,000 | 26,000,000 | 26,000,000 | 24,000,000 | 23,000,000 | |||||||||||||||||||||||||||||||
premium amortization, net, on securities available for sale and securities held to maturity | 74,000,000 | 61,000,000 | 46,000,000 | 43,000,000 | 42,000,000 | 39,000,000 | 38,000,000 | 31,000,000 | 27,000,000 | 37,000,000 | 48,000,000 | 44,000,000 | 59,000,000 | 65,000,000 | 46,000,000 | 52,000,000 | |||||||||||||||||||||||||||||||||||
purchases of securities available for sale | -6,184,000,000 | -8,631,000,000 | -7,967,000,000 | -3,854,000,000 | -5,074,000,000 | -4,366,000,000 | -8,057,000,000 | -2,243,000,000 | -4,250,000,000 | -7,323,000,000 | -5,884,000,000 | -6,703,000,000 | -9,146,000,000 | -5,775,000,000 | -7,278,000,000 | -6,836,000,000 | -7,634,000,000 | -3,633,000,000 | -3,451,000,000 | -3,716,000,000 | |||||||||||||||||||||||||||||||
proceeds from sales of securities available for sale | 571,000,000 | 3,774,000,000 | 300,000,000 | 1,825,000,000 | 5,000,000 | 444,000,000 | 150,000,000 | 760,000,000 | 1,285,000,000 | 1,661,000,000 | 1,812,000,000 | 201,000,000 | 1,073,000,000 | 250,000,000 | 50,000,000 | 0 | 250,000,000 | 200,000,000 | |||||||||||||||||||||||||||||||||
principal payments on securities available for sale | 3,889,000,000 | 2,677,000,000 | 2,086,000,000 | 2,168,000,000 | 1,768,000,000 | 1,992,000,000 | 1,412,000,000 | 1,456,000,000 | 1,738,000,000 | 2,070,000,000 | 3,020,000,000 | 3,997,000,000 | 3,321,000,000 | 3,642,000,000 | 4,145,000,000 | 2,759,000,000 | 2,339,000,000 | 2,091,000,000 | 2,059,000,000 | 1,489,000,000 | |||||||||||||||||||||||||||||||
purchases of securities held to maturity | -11,857,000,000 | -3,704,000,000 | -3,878,000,000 | -10,479,000,000 | -3,754,000,000 | -2,412,000,000 | -2,658,000,000 | -984,000,000 | -2,271,000,000 | -3,528,000,000 | -3,883,000,000 | -6,031,000,000 | -4,058,000,000 | -1,591,000,000 | -1,836,000,000 | -1,193,000,000 | -1,387,000,000 | ||||||||||||||||||||||||||||||||||
principal payments on securities held to maturity | 1,643,000,000 | 1,301,000,000 | 897,000,000 | 831,000,000 | 1,021,000,000 | 921,000,000 | 767,000,000 | 612,000,000 | 520,000,000 | 919,000,000 | 1,134,000,000 | 1,279,000,000 | 1,441,000,000 | 1,446,000,000 | 1,258,000,000 | 1,308,000,000 | 1,991,000,000 | 869,000,000 | 834,000,000 | 1,092,000,000 | |||||||||||||||||||||||||||||||
proceeds from short-term borrowings | 3,505,000,000 | 4,200,000,000 | 800,000,000 | 58,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||
repayment of short-term borrowings | |||||||||||||||||||||||||||||||||||||||||||||||||||
decrease in cash and cash equivalents | -1,521,000,000 | 6,000,000 | -2,352,000,000 | -341,000,000 | -555,000,000 | 1,128,000,000 | -697,000,000 | -5,732,000,000 | |||||||||||||||||||||||||||||||||||||||||||
repayment of commercial paper | 0 | 0 | -300,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||
net increase in loans to banking clients | -289,000,000 | -171,000,000 | -339,000,000 | -446,000,000 | -530,000,000 | -660,000,000 | -256,000,000 | -128,000,000 | -244,000,000 | -339,000,000 | -414,000,000 | ||||||||||||||||||||||||||||||||||||||||
net change in deposits from banking clients | 97,000,000 | 2,619,000,000 | 6,842,000,000 | 1,921,000,000 | 3,047,000,000 | 10,621,000,000 | 2,499,000,000 | 3,998,000,000 | 1,405,000,000 | 6,776,000,000 | 1,739,000,000 | 1,080,000,000 | 669,000,000 | ||||||||||||||||||||||||||||||||||||||
originations of loans held for sale | 0 | -6,000,000 | -100,000,000 | -335,000,000 | -435,000,000 | -330,000,000 | -179,000,000 | -630,000,000 | |||||||||||||||||||||||||||||||||||||||||||
proceeds from sales of loans held for sale | 0 | 8,000,000 | 151,000,000 | 354,000,000 | 452,000,000 | 297,000,000 | 166,000,000 | 788,000,000 | |||||||||||||||||||||||||||||||||||||||||||
premium paid on debt exchange | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||
non-cash financing activity: | |||||||||||||||||||||||||||||||||||||||||||||||||||
exchange of senior notes | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||
non-cash investing activities: | |||||||||||||||||||||||||||||||||||||||||||||||||||
cash (paid) acquired in business acquisitions — net | |||||||||||||||||||||||||||||||||||||||||||||||||||
issuance of commercial paper | |||||||||||||||||||||||||||||||||||||||||||||||||||
net proceeds from common stock offering | |||||||||||||||||||||||||||||||||||||||||||||||||||
common stock issued and equity awards assumed for business acquisitions | |||||||||||||||||||||||||||||||||||||||||||||||||||
transfer of trust related balances to deposits from banking clients | |||||||||||||||||||||||||||||||||||||||||||||||||||
cash acquired in business acquisition, net of cash paid | -30,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||
common stock issued and equity awards assumed for business acquisition | |||||||||||||||||||||||||||||||||||||||||||||||||||
net decrease (increase) in loans to banking clients | 34,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||
premium (discount) amortization, net, on securities available for sale and securities held to maturity | |||||||||||||||||||||||||||||||||||||||||||||||||||
excess tax benefits from stock-based compensation | -5,000,000 | -5,000,000 |