v3.25.4
Parent-Only Financial Statements
 12 Months Ended
Dec. 31, 2025
Condensed Financial Information Disclosure [Abstract]  
Parent-Only Financial Statements
Note 26: Parent-Only Financial Statements
The following tables present Parent-only condensed financial statements.

Table 26.1: Parent-Only Statement of Income
Year ended December 31,
(in millions)202520242023
Income
Dividends from subsidiaries (1)
$23,100 18,600 22,300 
Interest income from subsidiaries9,412 11,199 10,845 
Other income334 527 217 
Total income32,846 30,326 33,362 
Expense
Interest expense:
Indebtedness to nonbank subsidiaries1,837 2,291 2,567 
Long-term debt9,542 11,033 9,909 
Noninterest expense706 1,151 504 
Total expense12,085 14,475 12,980 
Income before income tax benefit and equity in undistributed income of subsidiaries20,761 15,851 20,382 
Income tax benefit
(2,103)(1,747)(1,076)
Equity in undistributed income of subsidiaries
(1,526)2,124 (2,316)
Net income
$21,338 19,722 19,142 
Other comprehensive income (loss) (2)
5,503 (596)1,782 
Total comprehensive income
$26,841 19,126 20,924 
(1)Includes dividends paid from indirect bank subsidiaries of $22.5 billion, $18.6 billion, and $22.3 billion in 2025, 2024, and 2023, respectively.
(2)Includes other comprehensive income (loss) of subsidiaries, particularly related to debt securities.

Table 26.2: Parent-Only Balance Sheet
(in millions)Dec 31,
2025		Dec 31,
2024
Assets
Cash, cash equivalents, and restricted cash due from subsidiary banks$15,562 20,991 
Loans to nonbank subsidiaries183,044 185,269 
Investments in subsidiaries (1)
166,809 162,913 
Other
11,510 10,331 
Total assets$376,925 379,504 
Liabilities and equity
Accrued expenses and other liabilities
$7,387 8,380 
Long-term debt153,467 146,851 
Indebtedness to nonbank subsidiaries34,954 45,153 
Total liabilities195,808 200,384 
Stockholders’ equity
181,117 179,120 
Total liabilities and equity$376,925 379,504 
(1)Includes indirect ownership of bank subsidiaries with equity of $177.1 billion and $169.6 billion at December 31, 2025 and 2024, respectively.
Table 26.3: Parent-Only Statement of Cash Flows
Year ended December 31,
(in millions)202520242023
Cash flows from operating activities:
Net cash provided by operating activities
$25,946 18,308 25,972 
Cash flows from investing activities:
Loans:
Capital notes and term loans made to subsidiaries— (3,904)(5,420)
Principal collected on notes/loans made to subsidiaries4,753 4,510 1,730 
Other, net21 1 40 
Net cash provided (used) by investing activities4,774 607 (3,650)
Cash flows from financing activities:
Net increase (decrease) in short-term borrowings and indebtedness to subsidiaries(10,199)11,687 (14,238)
Long-term debt:
Proceeds from issuance24,203 17,518 19,070 
Repayment(23,352)(15,684)(9,311)
Preferred stock:
Proceeds from issuance— 1,997 1,722 
Redeemed(2,000)(2,840)(1,725)
Cash dividends paid(1,050)(1,099)(1,141)
Common stock:
Repurchased(17,516)(19,448)(11,851)
Cash dividends paid(5,434)(5,133)(4,789)
Other, net(801)(778)(374)
Net cash used by financing activities
(36,149)(13,780)(22,637)
Net change in cash, cash equivalents, and restricted cash(5,429)5,135 (315)
Cash, cash equivalents, and restricted cash at beginning of period20,991 15,856 16,171 
Cash, cash equivalents, and restricted cash at end of period$15,562 20,991 15,856