v3.25.4
Parent Company - Condensed Statements of Cash Flows (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities      
Net earnings $ 17,176 $ 14,276 $ 8,516
Adjustments to reconcile net earnings to net cash used for operating activities:      
Depreciation and amortization 2,182 2,392 4,856
Deferred income taxes 204 (800) (1,360)
Share-based compensation 3,445 2,663 2,085
Changes in operating assets and liabilities:      
Collateralized transactions (excluding other secured financings), net (12,891) 68,582 160,227
Trading assets (69,866) (86,991) (163,807)
Trading liabilities 57,560 (212) 5,751
Other, net 1,859 (6,640) (3,299)
Net cash used for operating activities (45,154) (13,212) (12,587)
Cash flows from investing activities      
Purchase of property, leasehold improvements and equipment (2,064) (2,091) (2,316)
Net cash used for investing activities (44,227) (49,624) (17,312)
Cash flows from financing activities      
Issuance of unsecured long-term borrowings 88,196 67,252 47,153
Repayment of unsecured long-term borrowings (71,502) (74,519) (54,066)
Common stock repurchased (12,360) (8,000) (5,796)
Settlement of share-based awards in satisfaction of withholding tax requirements (2,156) (1,331) (1,345)
Dividends and dividend equivalents paid on common stock, preferred stock and share-based awards (5,277) (4,497) (4,189)
Issuance of preferred stock, net of costs 1,895 4,239 1,496
Other financing, net (82) 247 344
Net cash provided by financing activities 66,100 7,323 27,800
Cash and cash equivalents, beginning balance 182,092    
Cash and cash equivalents, ending balance 164,259 182,092  
Group Inc.      
Cash flows from operating activities      
Net earnings 17,176 14,276 8,516
Adjustments to reconcile net earnings to net cash used for operating activities:      
Undistributed (earnings)/loss of subsidiaries and other affiliates (1,399) (9,153) (1,000)
Depreciation and amortization 16 25 13
Deferred income taxes 22 (844) (380)
Share-based compensation 544 361 (11)
Changes in operating assets and liabilities:      
Collateralized transactions (excluding other secured financings), net (6,849) (631) 11,937
Trading assets 6,797 3,685 7,620
Trading liabilities (254) 209 (1,646)
Other, net 954 5,090 (221)
Net cash used for operating activities 17,007 13,018 24,828
Cash flows from investing activities      
Purchase of property, leasehold improvements and equipment (83) (55) (48)
Repayments/(issuances) of short-term loans to subsidiaries, net 502 9,578 3,145
Issuance of term loans to subsidiaries (33,370) (22,275) (25,473)
Repayments of term loans by subsidiaries 130 12,626 921
Purchase of investments (27,066) (30,473) (25,904)
Sales/paydowns of investments 36,676 30,239 17,801
subsidiaries, net 1,152 127 1,205
Net cash used for investing activities (22,059) (233) (28,353)
Cash flows from financing activities      
Secured borrowings with subsidiary, net (118) 8,518 3,810
With third parties (268) (54) 87
With subsidiaries 16,366 8,152 19,314
Issuance of unsecured long-term borrowings 99,806 77,389 127,728
Repayment of unsecured long-term borrowings (92,763) (94,943) (136,618)
Preferred stock redemption 0 (2,200) (1,000)
Common stock repurchased (12,360) (8,000) (5,796)
Settlement of share-based awards in satisfaction of withholding tax requirements (2,156) (1,331) (1,345)
Dividends and dividend equivalents paid on common stock, preferred stock and share-based awards (5,277) (4,497) (4,189)
Issuance of preferred stock, net of costs 1,895 4,239 1,496
Other financing, net (62) (79) (1)
Net cash provided by financing activities 5,063 (12,806) 3,486
Net decrease in cash and cash equivalents 11 (21) (39)
Cash and cash equivalents, beginning balance 21 42 81
Cash and cash equivalents, ending balance $ 32 $ 21 $ 42