Consolidated Statements of Earnings - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenues
Investment banking	$ 3,400	$ 2,194	$ 6,244	$ 4,110
Investment management	3,378	2,837	6,557	5,596
Commissions and fees	1,525	1,201	2,851	2,427
Market making	7,637	4,733	13,098	10,456
Other principal transactions	444	514	1,306	1,057
Total non-interest revenues	16,384	11,479	30,056	23,646
Interest income	22,047	19,789	42,684	39,172
Interest expense	18,093	16,685	35,175	33,173
Net interest income	3,954	3,104	7,509	5,999
Total net revenues	20,338	14,583	37,565	29,645
Provision for credit losses	102	384	417	671
Operating expenses
Compensation and benefits	6,104	4,685	11,516	9,561
Transaction based	3,052	1,955	5,567	3,805
Market development	198	167	384	323
Communications and technology	635	530	1,218	1,036
Depreciation and amortization	509	618	1,004	1,124
Occupancy	244	234	498	467
Professional fees	372	440	751	864
Other expenses	559	612	1,161	1,189
Total operating expenses	11,673	9,241	22,099	18,369
Pre-tax earnings/(loss)	8,563	4,958	15,049	10,605
Provision for taxes	1,935	1,235	2,791	2,144
Net earnings	6,628	3,723	12,258	8,461
Preferred stock dividends	229	250	456	405
Net earnings applicable to common shareholders	$ 6,399	$ 3,473	$ 11,802	$ 8,056
Earnings per common share
Basic (in dollars per share)	$ 21.27	$ 11.03	$ 38.99	$ 25.32
Diluted (in dollars per share)	$ 20.98	$ 10.91	$ 38.51	$ 25.07
Average common shares
Basic (in shares)	300.1	313.7	301.9	317.2
Diluted (in shares)	304.9	318.3	306.5	321.4

Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities
Net earnings	$ 12,258	$ 8,461
Adjustments to reconcile net earnings to net cash used for operating activities:
Depreciation and amortization	1,004	1,124
Deferred income taxes	(488)	(202)
Share-based compensation	2,969	2,950
Provision for credit losses	417	671
Changes in operating assets and liabilities:
Customer and other receivables and payables, net	23,911	(11,708)
Collateralized transactions (excluding other secured financings), net	13,697	(34,073)
Trading assets	(132,577)	(47,625)
Trading liabilities	56,360	49,794
Loans held for sale, net	(2,344)	(1,261)
Other, net	(970)	311
Net cash used for operating activities	(25,763)	(31,558)
Cash flows from investing activities
Purchase of property, leasehold improvements and equipment	(1,067)	(975)
Proceeds from sales of property, leasehold improvements and equipment	209	392
Net cash used for business acquisitions	(1,783)	0
Available-for-sale securities:
Purchases	(84,175)	(53,101)
Proceeds from sales	25,987	32,088
Proceeds from paydowns and maturities	209	1
Held-to-maturity securities:
Purchases	(13,636)	(5,819)
Proceeds from paydowns and maturities	8,634	12,438
Other investments:
Purchases	(5,189)	(4,419)
Proceeds from sales, paydowns and maturities	6,226	4,466
Loans (excluding loans held for sale), net	(20,294)	(19,152)
Net cash used for investing activities	(84,879)	(34,081)
Cash flows from financing activities
Unsecured short-term borrowings, net	12,077	3,927
Other secured financings (short-term), net	10,852	(7,026)
Proceeds from issuance of other secured financings (long-term)	5,127	1,206
Repayment of other secured financings (long-term), including the current portion	(3,304)	(1,275)
Proceeds from issuance of unsecured long-term borrowings	108,489	51,067
Repayment of unsecured long-term borrowings, including the current portion	(40,809)	(36,197)
Derivative contracts with a financing element, net	2,484	634
Deposits, net	57,580	27,244
Preferred stock redemption	(2,125)	0
Common stock repurchased	(9,000)	(7,360)
Settlement of share-based awards in satisfaction of withholding tax requirements	(2,864)	(2,146)
Dividends and dividend equivalents paid on common stock, preferred stock and share-based awards	(3,191)	(2,338)
Proceeds from issuance of preferred stock, net of issuance costs	0	1,895
Other financing, net	(106)	(67)
Net cash provided by financing activities	135,210	29,564
Effect of exchange rate changes on cash and cash equivalents	(1,561)	6,950
Net increase/(decrease) in cash and cash equivalents	23,007	(29,125)
Cash and cash equivalents, beginning balance	164,259	182,092
Cash and cash equivalents, ending balance	187,266	152,967
Supplemental disclosures:
Cash payments for interest, net of capitalized interest	$ 34,478	$ 32,958

Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Assets
Cash and cash equivalents	$ 187,266	$ 164,259
Collateralized agreements
Securities purchased under agreements to resell (includes $121,206 and $126,007 at fair value)	121,224	126,007
Securities borrowed (includes $61,756 and $51,581 at fair value)	244,599	208,208
Customer and other receivables (includes $292 and $315 at fair value)	230,286	185,842
Trading assets (at fair value and includes $185,318 and $158,641 pledged as collateral)	789,083	656,796
Investments:
Available-for-sale securities (at fair value; amortized cost of $156,636 and $99,116)	155,636	99,244
Held-to-maturity securities	74,658	69,193
Other investments (includes $24,343 and $24,938 at fair value)	25,331	25,825
Loans (net of allowance of $2,188 and $2,148, and includes $4,640 and $4,905 at fair value)	260,888	237,734
Other assets (includes $202 and $180 at fair value)	38,740	36,212
Total assets	2,127,711	1,809,320
Liabilities and shareholders’ equity
Deposits (includes $90,249 and $76,569 at fair value)	557,955	501,422
Collateralized financings
Securities sold under agreements to repurchase (at fair value)	266,855	223,384
Securities loaned (includes $12,871 and $11,995 at fair value)	55,638	53,644
Other secured financings (includes $34,865 and $27,833 at fair value)	35,081	28,021
Customer and other payables	300,057	231,865
Trading liabilities (at fair value)	323,783	262,552
Unsecured short-term borrowings	89,911	70,459
Unsecured long-term borrowings (includes $144,703 and $112,683 at fair value)	347,963	285,500
Other liabilities (includes $264 and $111 at fair value)	27,726	27,501
Total liabilities	2,004,969	1,684,348
Commitments, contingencies and guarantees
Shareholders’ equity
Preferred stock; aggregate liquidation preference of $13,028 and $15,153	13,028	15,153
Common stock; 936,341,620 and 931,995,446 shares issued, and 291,442,355 and 296,476,742 shares outstanding	9	9
Share-based awards	6,038	5,795
Nonvoting common stock; no shares issued and outstanding	0	0
Additional paid-in capital	62,122	61,906
Retained earnings	174,352	165,288
Accumulated other comprehensive loss	(2,856)	(2,260)
Stock held in treasury, at cost; 644,899,267 and 635,518,706 shares	(129,951)	(120,919)
Total shareholders’ equity	122,742	124,972
Total liabilities and shareholders’ equity	$ 2,127,711	$ 1,809,320