STATE STREET CORP

STT 10-K · FY 2025

STT FY 2025 request

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Income Statement

Income Statement
Metric FY 2025 FY 2024 YoY
Revenue 13,944 13,000 +7.3%
Show Product Lines breakouts
Account Servicing [Member] 5,324 5,016 +6.1%
Account Servicing [Member] · Investment
Servicing 5,324 5,016 +6.1%
Foreign exchange trading services 1,614 1,401 +15.2%
Foreign exchange trading services · Investment Management 170 138 +23.2%
Foreign exchange trading services · Investment
Servicing 1,441 1,248 +15.5%
Foreign exchange trading services · Material Reconciling Items 3 15 -80.0%
Management fees 2,398 2,124 +12.9%
Management fees · Investment Management 2,398 2,124 +12.9%
Net interest income 2,960 2,923 +1.3%
Net interest income · Investment Management 15 24 -37.5%
Net interest income · Investment
Servicing 2,945 2,899 +1.6%
Other fee revenue 236 289 -18.3%
Other fee revenue · Investment Management 27 35 -22.9%
Other fee revenue · Investment
Servicing 209 188 +11.2%
Securities finance 505 438 +15.3%
Securities finance · Investment Management 24 23 +4.3%
Securities finance · Investment
Servicing 481 415 +15.9%
Software and processing fees 903 888 +1.7%
Software and processing fees · Investment
Servicing 927 888 +4.4%
Software and processing fees · Material Reconciling Items -24
Total fee revenue 10,980 10,156 +8.1%
Total fee revenue · Investment Management 2,619 2,320 +12.9%
Total fee revenue · Investment
Servicing 8,382 7,755 +8.1%
Total fee revenue · Material Reconciling Items -21 81 -125.9%
Total Other Income [Member] 4 -79 +105.1%
Total Other Income [Member] · Investment
Servicing 4 2 +100.0%
Show Business Segments breakouts
Investment Management · Operating Segments 2,634 2,344 +12.4%
Investment
Servicing · Operating Segments 11,331 10,656 +6.3%
Show Geography breakouts
Non Us 5,936 5,485 +8.2%
US 8,008 7,515 +6.6%
Show Consolidated Entities breakouts
Parent Company 3,509 1,824 +92.4%
Variable Interest Entity Not Primary Beneficiary 17 29 -41.4%
Show Consolidation Items breakouts
Material Reconciling Items -21
Revenue (FY)
Show Product Lines breakouts
Account Servicing [Member] · Investment
Servicing 5,324 5,016 +6.1%
Foreign exchange trading services · Investment Management 170 138 +23.2%
Foreign exchange trading services · Investment
Servicing 414 386 +7.3%
Management fees · Investment Management 2,398 2,124 +12.9%
Securities finance · Investment
Servicing 212 185 +14.6%
Software and processing fees · Investment
Servicing 731 685 +6.7%
Software and processing fees · Material Reconciling Items -24
Total fee revenue · Investment Management 2,568 2,262 +13.5%
Total fee revenue · Investment
Servicing 6,681 6,272 +6.5%
Total fee revenue · Material Reconciling Items -24
Show Business Segments breakouts
Investment Management · Operating Segments 2,568 2,262 +13.5%
Investment
Servicing · Operating Segments 6,681 6,272 +6.5%
Show Consolidation Items breakouts
Material Reconciling Items -24
Other Revenue (FY)
Show Product Lines breakouts
Foreign exchange trading services · Investment
Servicing 1,027 862 +19.1%
Foreign exchange trading services · Material Reconciling Items 3 15 -80.0%
Net interest income · Investment Management 15 24 -37.5%
Net interest income · Investment
Servicing 2,945 2,899 +1.6%
Other fee revenue · Investment Management 27 35 -22.9%
Other fee revenue · Investment
Servicing 209 188 +11.2%
Securities finance · Investment Management 24 23 +4.3%
Securities finance · Investment
Servicing 269 230 +17.0%
Software and processing fees · Investment
Servicing 196 203 -3.4%
Total fee revenue · Investment Management 51 58 -12.1%
Total fee revenue · Investment
Servicing 1,701 1,483 +14.7%
Total fee revenue · Material Reconciling Items 3 81 -96.3%
Total Other Income [Member] · Investment
Servicing 4 2 +100.0%
Show Business Segments breakouts
Investment Management · Operating Segments 66 82 -19.5%
Investment
Servicing · Operating Segments 4,650 4,384 +6.1%
Show Consolidation Items breakouts
Material Reconciling Items 3
Income Before Taxes 3,731 3,395 +9.9%
Show Business Segments breakouts
Investment Management · Operating Segments 859 689 +24.7%
Investment
Servicing · Operating Segments 3,216 2,894 +11.1%
Show Geography breakouts
Non Us 1,493 1,376 +8.5%
US 2,238 2,019 +10.8%
Show Consolidation Items breakouts
Material Reconciling Items -344 -188 -83.0%
Income Tax Expense (Benefit) 786 708 +11.0%
Show Consolidated Entities breakouts
Parent Company -209 -232 +9.9%
Net Income 2,945 2,687 +9.6%
Show Equity Components breakouts
Retained Earnings 2,945 2,687 +9.6%
Show Consolidated Entities breakouts
Parent Company 2,945 2,687 +9.6%
Show Reclassification Out Of Accumulated Other Comprehensive Income breakouts
Reclassification Out Of Accumulated Other Comprehensive Income 210 414 -49.3%
Comprehensive Income 4,002 2,941 +36.1%
Other Comprehensive Income 1,057 254 +316.1%
Show Equity Components breakouts
Accumulated Defined Benefit Plans Adjustment 37 16 +131.2%
Accumulated Gain Loss Net Cash Flow Hedge Parent 99 -1 +10000.0%
Accumulated Net Unrealized Investment Gain Loss 329 467 -29.6%
Accumulated Other Comprehensive Income 1,057 254 +316.1%
Accumulated Translation Adjustment 1,375 -768 +279.0%
Net Unrealized Gains (Losses) on Hedges of Net Investments in Non-U.S. Subsidiaries -783 540 -245.0%
EPS (Basic) 9.55 8.33 +14.6%
EPS (Diluted) 9.4 8.21 +14.5%
Wtd Avg Shares (Basic) 284,545 297,883 -4.5%
Wtd Avg Shares (Diluted) 289,019 302,226 -4.4%
Interest And Dividend Income Operating 11,644 11,977 -2.8%
Occupancy Net 487 437 +11.4%
Net Income Loss Available To Common Stockholders Basic 2,717 2,483 +9.4%
Other Expenses 1,488 1,569 -5.2%
Show Consolidated Entities breakouts
Parent Company 257 239 +7.5%
Noninterest Income Other 236 289 -18.3%
Show Business Segments breakouts
Investment Management · Operating Segments 27 35 -22.9%
Investment
Servicing · Operating Segments 209 188 +11.2%
Show Consolidated Entities breakouts
Variable Interest Entity Not Primary Beneficiary 17 29 -41.4%
Communications And Information Technology 2,094 1,829 +14.5%
Show Business Segments breakouts
Investment Management · Operating Segments 92 86 +7.0%
Investment
Servicing · Operating Segments 1,960 1,743 +12.4%
Show Consolidation Items breakouts
Material Reconciling Items 42
Noninterest Income 10,980 10,156 +8.1%
Show Business Segments breakouts
Investment Management · Operating Segments 2,619 2,320 +12.9%
Investment
Servicing · Operating Segments 8,382 7,755 +8.1%
Show Consolidation Items breakouts
Material Reconciling Items -21 81 -125.9%
Interest Income Expense Net 2,960 2,923 +1.3%
Show Business Segments breakouts
Investment Management · Operating Segments 15 24 -37.5%
Investment
Servicing · Operating Segments 2,945 2,899 +1.6%
Show Equity Components breakouts
Accumulated Gain Loss Net Cash Flow Hedge Parent · Reclassification Out Of Accumulated Other Comprehensive Income -104 40 -360.0%
Accumulated Net Unrealized Investment Gain Loss · Reclassification Out Of Accumulated Other Comprehensive Income -107 -393 +72.8%
Noninterest Expense 10,154 9,530 +6.5%
Show Business Segments breakouts
Investment Management · Operating Segments 1,775 1,655 +7.3%
Investment
Servicing · Operating Segments 8,056 7,687 +4.8%
Show Consolidated Entities breakouts
Parent Company 1,492 1,409 +5.9%
Show Consolidation Items breakouts
Material Reconciling Items 323 188 +71.8%
Labor And Related Expense 5,035 4,697 +7.2%
Show Business Segments breakouts
Investment Management · Operating Segments 604 555 +8.8%
Investment
Servicing · Operating Segments 4,220 4,078 +3.5%
Show Equity Components breakouts
Accumulated Defined Benefit Plans Adjustment · Reclassification Out Of Accumulated Other Comprehensive Income 1 2 -50.0%
Show Consolidation Items breakouts
Material Reconciling Items 211 64 +229.7%
Interest Expense Operating 8,684 9,054 -4.1%
Preferred Stock Dividends Income Statement Impact -226 -202 -11.9%
Marketing And Advertising Expense 174 142 +22.5%
Professional Fees 444 465 -4.5%
Other Noninterest Expense (FY)
Show Consolidation Items breakouts
Material Reconciling Items 21 -111 +118.9%
Interest Income Operating 11,644 11,977 -2.8%
Operating Lease Lease Income -13 -17 +23.5%

Balance Sheet

Balance Sheet
Metric FY 2025 FY 2024 YoY
Non-Current Assets
Operating Lease Right-of-Use Assets 865 818 +5.7%
Goodwill 8,159 7,691 +6.1%
Show Business Segments breakouts
Investment Management 268 263 +1.9%
Investment
Servicing 7,891 7,428 +6.2%
Intangible Assets 935 1,089 -14.1%
Show Business Segments breakouts
Investment Management 19 26 -26.9%
Investment
Servicing 916 1,063 -13.8%
Show Finite Lived Intangible Assets By Major Class breakouts
Core Deposits 106 137 -22.6%
Customer Relationships 687 787 -12.7%
Other Intangible Assets 30 16 +87.5%
Technology Based Intangible Assets 112 149 -24.8%
Deferred Tax Assets 627 701 -10.6%
Total Assets 366,047 353,240 +3.6%
Show Geography breakouts
Non Us 95.68 88.35 +8.3%
Show Consolidated Entities breakouts
Parent Company 53,366 48,928 +9.1%
Non-Current Liabilities
Long-Term Debt (Q)
Show Debt Instrument breakouts
1.684%, Fixed-to-floating rate senior notes · Parent Company and Non-banking Subsidiaries 498 497 +0.2%
2.2%, Senior subordinated notes · Parent Company and Non-banking Subsidiaries 846 845 +0.1%
2.203%, Fixed-to-floating rate senior notes · Parent Company and Non-banking Subsidiaries 634 619 +2.4%
2.4%, Senior notes · Parent Company and Non-banking Subsidiaries 777 784 -0.9%
2.623%, Fixed-to-floating rate senior notes · Parent Company and Non-banking Subsidiaries 490 465 +5.4%
2.65%, Senior notes · Parent Company and Non-banking Subsidiaries 745 728 +2.3%
3.031%, Fixed-to-floating rate senior subordinated notes · Parent Company and Non-banking Subsidiaries 518 523 -1.0%
3.152%, Fixed-to-floating rate senior notes · Parent Company and Non-banking Subsidiaries 499 498 +0.2%
4.141%, Fixed-to-floating rate senior notes · Parent Company and Non-banking Subsidiaries 536 535 +0.2%
4.164%, Fixed-to-floating rate senior notes · Parent Company and Non-banking Subsidiaries 695 665 +4.5%
4.33%, Senior notes · Parent Company and Non-banking Subsidiaries 1,208 1,189 +1.6%
4.421%, Fixed-to-floating rate senior notes · Parent Company and Non-banking Subsidiaries 498 498 0.0%
4.53%, Fixed-to-floating rate senior notes · Parent Company and Non-banking Subsidiaries 1,007 989 +1.8%
4.536%, Senior notes · Parent Company and Non-banking Subsidiaries 1,346
4.543%, Fixed-to-floating rate senior notes · Parent Company and Non-banking Subsidiaries 699
4.594% Senior Notes Due 2026 · State Street Bank 1,148 1,146 +0.2%
4.675,% Fixed-to-floating rate senior notes · Parent Company and Non-banking Subsidiaries 813 789 +3.0%
4.729%, Senior notes · Parent Company and Non-banking Subsidiaries 647
4.782% Senior Notes Due 2029 · State Street Bank 797 796 +0.1%
4.784%, Fixed-to-floating rate senior notes · Parent Company and Non-banking Subsidiaries 973
4.821%, Fixed-to-floating rate senior notes · Parent Company and Non-banking Subsidiaries 728 702 +3.7%
4.834%, Senior notes · Parent Company and Non-banking Subsidiaries 1,002
4.993%, Senior notes · Parent Company and Non-banking Subsidiaries 1,004 993 +1.1%
5.146%, Fixed-to-floating rate senior notes · Parent Company and Non-banking Subsidiaries 746
5.159%, Fixed-to-floating rate senior notes · Parent Company and Non-banking Subsidiaries 996 995 +0.1%
5.272%, Senior notes · Parent Company and Non-banking Subsidiaries 1,204 1,203 +0.1%
5.684%, Fixed-to-floating rate senior notes · Parent Company and Non-banking Subsidiaries 1,009 986 +2.3%
5.82%, Fixed-to-floating rate senior notes · Parent Company and Non-banking Subsidiaries 503 495 +1.6%
6.123%, Fixed-to-floating rate senior subordinated notes · Parent Company and Non-banking Subsidiaries 507 492 +3.0%
7.35%, Senior notes · Parent Company and Non-banking Subsidiaries 150 150 0.0%
Floating Rate Senior Notes Due 2026 · State Street Bank 300 299 +0.3%
Floating-rate, Junior subordinated debentures Due June 15, 2047 · Parent Company and Non-banking Subsidiaries 500 500 0.0%
Floating-rate, Junior subordinated debentures due May 15, 2028 · Parent Company and Non-banking Subsidiaries 100 100 0.0%
Floating-rate, Senior notes 3 · Parent Company and Non-banking Subsidiaries 299
Floating-rate, Senior notes due August 3, 2026 · Parent Company and Non-banking Subsidiaries 300 299 +0.3%
Floating-rate, Senior notes Due October 22, 2027 · Parent Company and Non-banking Subsidiaries 299 299 0.0%
Show Consolidated Entities breakouts
Parent Company 22,755 20,887 +8.9%
Show Derivative Instruments Gain Loss By Hedging Relationship breakouts
Fair Value Hedging 3 220 -98.6%
Total Liabilities 338,206 327,914 +3.1%
Show Consolidated Entities breakouts
Parent Company 25,525 23,602 +8.1%
Stockholders' Equity
Common Stock 504 504 0.0%
Additional Paid-In Capital 10,705 10,722 -0.2%
Retained Earnings 31,392 29,582 +6.1%
Show Consolidated Entities breakouts
Subsidiaries · Basel III Advanced Approaches 16,401 15,977 +2.7%
Subsidiaries · Basel III Standardized Approach 16,401 15,977 +2.7%
Show Regulatory Capital requirements for Banking Organizations, by Implementation Approaches [Axis] breakouts
Basel III Advanced Approaches 31,392 29,582 +6.1%
Basel III Standardized Approach 31,392 29,582 +6.1%
Accumulated Other Comprehensive Income -1,043 -2,100 +50.3%
Total Stockholders' Equity 27,841 25,326 +9.9%
Show Equity Components breakouts
Accumulated Defined Benefit Plans Adjustment -92 -129 +28.7%
Accumulated Gain Loss Net Cash Flow Hedge Parent -33 -132 +75.0%
Accumulated Net Unrealized Investment Gain Loss -151 -480 +68.5%
Accumulated Other Comprehensive Income -1,043 -2,100 +50.3%
Accumulated Translation Adjustment -793 -2,168 +63.4%
Additional Paid In Capital 10,705 10,722 -0.2%
Common Stock 504 504 0.0%
Net Unrealized Gains (Losses) on Hedges of Net Investments in Non-U.S. Subsidiaries 26 809 -96.8%
Preferred Stock 3,559 2,816 +26.4%
Retained Earnings 31,392 29,582 +6.1%
Treasury Stock Common -17,276 -16,198 -6.7%
Show Consolidated Entities breakouts
Parent Company 27,841 25,326 +9.9%
Total Liabilities & Equity 366,047 353,240 +3.6%
Show Consolidated Entities breakouts
Parent Company 53,366 48,928 +9.1%

Cash Flow Statement

Cash Flow Statement
Metric FY 2025 FY 2024 YoY
Operating Activities
Deferred Income Taxes -89 145 -161.4%
Other Non-Cash Items 410 303 +35.3%
Net Cash from Operations 11,898 -13,210 +190.1%
Show Consolidated Entities breakouts
Parent Company 2,283 622 +267.0%
Investing Activities
Capital Expenditures -1,055 -926 -13.9%
Purchases of Investments -50,245 -44,301 -13.4%
Show Consolidated Entities breakouts
Parent Company -1,701 -1,204 -41.3%
Other Investing Activities 644 -332 +294.0%
Net Cash from Investing -12,991 -39,483 +67.1%
Show Consolidated Entities breakouts
Parent Company -2,222 -1,318 -68.6%
Financing Activities
Share Repurchases -1,200 -1,319 +9.0%
Show Consolidated Entities breakouts
Parent Company -1,200 -1,319 +9.0%
Net Cash from Financing 2,381 51,791 -95.4%
Show Consolidated Entities breakouts
Parent Company -61 696 -108.8%
Supplemental
Income Taxes Paid 594 451 +31.7%
Interest Paid 8,805 8,951 -1.6%
Other Cash Flow
Net Change in Cash 1,288 -902 +242.8%

Values in millions USD. Source: SEC EDGAR 10-K filing.

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