v3.26.1
Consolidated Balance Sheets - USD ($)
$ in Millions
Mar. 31, 2026
Dec. 31, 2025
Assets    
Cash and cash equivalents $ 179,530 $ 164,259
Collateralized agreements    
Securities purchased under agreements to resell (at fair value) 152,875 126,007
Securities borrowed (includes $61,700 and $51,581 at fair value) 233,083 208,208
Customer and other receivables (includes $325 and $315 at fair value) 209,484 185,842
Trading assets (at fair value and includes $181,306 and $158,641 pledged as collateral) 758,018 656,796
Investments:    
Available-for-sale securities (at fair value; amortized cost of $137,897 and $99,116) 137,014 99,244
Held-to-maturity securities 74,889 69,193
Other investments (includes $24,748 and $24,938 at fair value) 25,731 25,825
Loans (net of allowance of $2,345 and $2,148, and includes $4,379 and $4,905 at fair value) 252,849 237,734
Other assets (includes $192 and $180 at fair value) 36,707 36,212
Total assets 2,060,180 1,809,320
Liabilities and shareholders’ equity    
Deposits (includes $92,248 and $76,569 at fair value) 561,263 501,422
Collateralized financings    
Securities sold under agreements to repurchase (at fair value) 259,452 223,384
Securities loaned (includes $12,586 and $11,995 at fair value) 55,278 53,644
Other secured financings (includes $36,139 and $27,833 at fair value) 36,336 28,021
Customer and other payables 293,039 231,865
Trading liabilities (at fair value) 312,220 262,552
Unsecured short-term borrowings 80,878 70,459
Unsecured long-term borrowings (includes $125,666 and $112,683 at fair value) 315,426 285,500
Other liabilities (includes $256 and $111 at fair value) 23,506 27,501
Total liabilities 1,937,398 1,684,348
Commitments, contingencies and guarantees
Shareholders’ equity    
Preferred stock; aggregate liquidation preference of $13,703 and $15,153 13,703 15,153
Common stock; 935,410,692 and 931,995,446 shares issued, and 294,574,329 and 296,476,742 shares outstanding 9 9
Share-based awards 5,798 5,795
Nonvoting common stock; no shares issued and outstanding 0 0
Additional paid-in capital 61,786 61,906
Retained earnings 169,316 165,288
Accumulated other comprehensive loss (1,912) (2,260)
Stock held in treasury, at cost; 640,836,365 and 635,518,706 shares (125,918) (120,919)
Total shareholders’ equity 122,782 124,972
Total liabilities and shareholders’ equity $ 2,060,180 $ 1,809,320