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In millions, except per share items | Dec-31-22 | Dec-31-21 | Dec-31-20 | Dec-31-19 | Dec-31-18 | Dec-31-17 | Dec-31-16 | Dec-31-15 |
| 8-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K |
Interest income: |
Interest income on loans | | 29,282.0 | 34,029.0 | 43,086.0 | 40,811.0 | 36,221.0 | 33,228.0 | 31,918.0 |
Interest income on investments | | | | | | | 9,167.0 | 9,178.0 |
Interest income on trading account | | | | | | | | 4,397.0 |
Interest income on repurchase agreements | | -90.0 | 903.0 | 4,843.0 | 3,176.0 | 2,390.0 | 1,118.0 | 988.0 |
| 72,565.0 | 47,672.0 | 51,585.0 | 71,236.0 | 66,769.0 | 57,579.0 | 51,057.0 | 49,507.0 |
Interest expense: |
Interest on deposits | | 537.0 | 1,943.0 | 7,188.0 | 4,495.0 | 1,931.0 | 1,015.0 | 861.0 |
| 20,103.0 | 4,738.0 | 8,225.0 | 22,345.0 | 18,607.0 | 12,340.0 | 9,961.0 | 10,549.0 |
Net interest income | 52,462.0 | 42,934.0 | 43,360.0 | 48,891.0 | 48,162.0 | 45,239.0 | 41,096.0 | 38,958.0 |
Provision for loan losses | 2,543.0 | -4,594.0 | 11,320.0 | 3,590.0 | 3,282.0 | 3,396.0 | 3,597.0 | 3,161.0 |
Net interest income after provision for loan losses | 49,919.0 | 47,528.0 | 32,040.0 | 45,301.0 | 44,880.0 | 41,843.0 | 37,499.0 | 35,797.0 |
Deposit and loan fees | | | | | | | 7,638.0 | 7,381.0 |
Credit and debit card fees | | | | | | | 5,851.0 | 5,959.0 |
Gain on sale of investments, net | | | | | | | | 1,138.0 |
Other non-interest income | 42,488.0 | 46,179.0 | 42,168.0 | 42,353.0 | 42,858.0 | 41,887.0 | 29,116.0 | 29,529.0 |
Total non-interest income | 42,488.0 | 46,179.0 | 42,168.0 | 42,353.0 | 42,858.0 | 41,887.0 | 42,605.0 | 44,007.0 |
Non-interest expenses | 61,438.0 | 59,731.0 | 55,213.0 | 54,900.0 | 53,154.0 | 54,517.0 | 55,083.0 | 57,617.0 |
Equity in earnings | | | | | | | | |
Pre-tax income | 30,969.0 | 33,976.0 | 18,995.0 | 32,754.0 | 34,584.0 | 29,213.0 | 25,021.0 | 22,187.0 |
Income taxes | 3,441.0 | 1,998.0 | 1,101.0 | 5,324.0 | 6,437.0 | 10,981.0 | 7,199.0 | 6,277.0 |
Tax rate | 11.1% | 5.9% | 5.8% | 16.3% | 18.6% | 37.6% | 28.8% | 28.3% |
Net income | 26,015.0 | 30,557.0 | 16,473.0 | 25,998.0 | 26,696.0 | 16,618.0 | 16,140.0 | 14,427.0 |
Net margin | 28.2% | 32.6% | 22.2% | 29.7% | 30.4% | 19.8% | 20.1% | 18.1% |
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Basic EPS | $3.19 | $3.60 | $1.88 | $2.77 | $2.64 | $1.63 | $1.57 | $1.38 |
Diluted EPS | $3.19 | $3.57 | $1.87 | $2.75 | $2.61 | $1.54 | $1.46 | $1.28 |
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Shares outstanding (basic) | 8,167.5 | 8,493.3 | 8,753.2 | 9,390.5 | 10,096.5 | 10,195.6 | 10,284.1 | 10,462.3 |
Shares outstanding (diluted) | 8,167.5 | 8,558.4 | 8,796.9 | 9,442.9 | 10,236.9 | 10,778.4 | 11,046.8 | 11,236.2 |
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EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |
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