Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2012

Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]

Schedule of Defined Benefit Plans Disclosures

The following table sets forth reconciliations of plan assets and the projected benefit obligation, the weighted-average assumptions used to determine year-end benefit obligations, and the amounts recognized in accumulated other comprehensive income (loss) for the Corporation’s defined benefit pension plans and postretirement benefit plan at December 31, 2012 and 2011. The Corporation used a measurement date of December 31, 2012 for these plans.

	Defined Benefit Pension Plans
	Qualified						Non-Qualified						Postretirement Benefit Plan
(dollar amounts in millions)	2012			2011			2012			2011			2012			2011
Change in fair value of plan assets:
Fair value of plan assets at January 1	$	1,508		$	1,464		$	—		$	—		$	69		$	73
Actual return on plan assets	199			92			—			—			4			3
Employer contributions	300			—			—			—			4			(1		)
Benefits paid	(52		)	(48		)	—			—			(5		)	(6		)
Fair value of plan assets at December 31	$	1,955		$	1,508		$	—		$	—		$	72		$	69
Change in projected benefit obligation:
Projected benefit obligation at January 1	$	1,592		$	1,409		$	210		$	177		$	78		$	82
Service cost	33			29			4			3			—			—
Interest cost	79			76			10			11			3			4
Actuarial (gain) loss	245			126			30			28			3			(2		)
Benefits paid	(52		)	(48		)	(9		)	(9		)	(5		)	(6		)
Projected benefit obligation at December 31	$	1,897		$	1,592		$	245		$	210		$	79		$	78
Accumulated benefit obligation	$	1,718		$	1,465		$	209		$	184		$	79		$	78
Funded status at December 31 (a) (b)	$	58		$	(84	)	$	(245	)	$	(210	)	$	(7	)	$	(9	)
Weighted-average assumptions used:
Discount rate	4.20		%	4.99		%	4.20		%	4.99		%	3.81		%	4.55		%
Rate of compensation increase	4.00			4.00			4.00			4.00			n/a			n/a
Healthcare cost trend rate:
Cost trend rate assumed for next year	n/a			n/a			n/a			n/a			8.00			8.00
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)	n/a			n/a			n/a			n/a			5.00			5.00
Year when rate reaches the ultimate trend rate	n/a			n/a			n/a			n/a			2033			2032
Amounts recognized in accumulated other comprehensive income (loss) before income taxes:
Net actuarial loss	$	(743	)	$	(637	)	$	(106	)	$	(83	)	$	(27	)	$	(26	)
Prior service (cost) credit	(5		)	(9		)	2			4			(3		)	(4		)
Net transition obligation	—			—			—			—			—			(4		)
Balance at December 31	$	(748	)	$	(646	)	$	(104	)	$	(79	)	$	(30	)	$	(34	)

(a) Based on projected benefit obligation for defined benefit pension plans and accumulated benefit obligation for postretirement benefit plan.

(b) The Corporation recognizes the overfunded and underfunded status of the plans in “accrued income and other assets” and “accrued expenses and other liabilities,” respectively, on the consolidated balance sheets.

n/a - not applicable

Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income (Loss)

The following table details the changes in plan assets and benefit obligations recognized in other comprehensive income (loss) for the year ended December 31, 2012.

	Defined Benefit Pension Plans
(in millions)	Qualified			Non-Qualified			Postretirement Benefit Plan			Total
Actuarial loss arising during the period	$	(160	)	$	(30	)	$	(2	)	$	(192	)
Amortization of net actuarial loss	54			7			1			62
Amortization of prior service cost (credit)	4			(2		)	1			3
Amortization of transition obligation	—			—			4			4
Total recognized in other comprehensive income (loss)	$	(102	)	$	(25	)	$	4		$	(123	)

Components of Net Periodic Defined Benefit Cost

Components of net periodic defined benefit cost and postretirement benefit cost, the actual return on plan assets and the weighted-average assumptions used were as follows.

	Defined Benefit Pension Plans
(dollar amounts in millions)	Qualified									Non-Qualified
Years Ended December 31	2012			2011			2010			2012			2011			2010
Service cost	$	33		$	29		$	28		$	4		$	3		$	3
Interest cost	79			76			73			10			11			9
Expected return on plan assets	(114		)	(115		)	(116		)	—			—			—
Amortization of prior service cost (credit)	4			4			6			(2		)	(2		)	(2		)
Amortization of net loss	54			34			25			7			7			4
Net periodic defined benefit cost	$	56		$	28		$	16		$	19		$	19		$	14
Actual return on plan assets	$	199		$	92		$	172		n/a			n/a			n/a
Actual rate of return on plan assets	13.33		%	5.85		%	13.10		%	n/a			n/a			n/a
Weighted-average assumptions used:
Discount rate	4.99		%	5.51		%	5.92		%	4.99		%	5.51		%	5.92		%
Expected long-term return on plan assets	7.50			7.75			8.00			n/a			n/a			n/a
Rate of compensation increase	4.00			4.00			3.50			4.00			4.00			3.50

n/a - not applicable

(dollar amounts in millions)	Postretirement Benefit Plan
Years Ended December 31	2012			2011			2010
Interest cost	$	3		$	4		$	4
Expected return on plan assets	(3		)	(4		)	(3		)
Amortization of transition obligation	4			4			4
Amortization of prior service cost	1			1			1
Amortization of net loss	1			1			1
Net periodic postretirement benefit cost	$	6		$	6		$	7
Actual return on plan assets	$	4		$	3		$	4
Actual rate of return on plan assets	6.39		%	5.00		%	5.65		%
Weighted-average assumptions used:
Discount rate	4.55		%	4.95		%	5.41		%
Expected long-term return on plan assets	5.00			5.00			5.00
Healthcare cost trend rate:
Cost trend rate assumed for next year	8.00			8.00			8.00
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)	5.00			5.00			5.00
Year that the rate reaches the ultimate trend rate	2032			2031			2030

Balances Remaining in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year

The estimated portion of balances remaining in accumulated other comprehensive income (loss) that are expected to be recognized as a component of net periodic benefit cost in the year ended December 31, 2013 are as follows.

	Defined Benefit Pension Plans
(in millions)	Qualified		Non-Qualified			Postretirement Benefit Plan		Total
Net loss	$	75	$	10		$	2	$	87
Prior service cost (credit)	4		(2		)	1		3

Schedule of Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates

Assumed healthcare cost trend rates have a significant effect on the amounts reported for the postretirement benefit plan. A one-percentage-point change in 2012 assumed healthcare and prescription drug cost trend rates would have the following effects.

	One-Percentage-Point
(in millions)	Increase		Decrease
Effect on postretirement benefit obligation	$	5	$	(5	)
Effect on total service and interest cost	—		—

Fair Value of Defined Benefit Plan Investments

The fair values of the Corporation’s qualified defined benefit pension plan investments measured at fair value on a recurring basis at December 31, 2012 and 2011, by asset category and level within the fair value hierarchy, are detailed in the table below.

(in millions)	Total		Level 1		Level 2		Level 3
December 31, 2012
Cash equivalent securities:
Mutual funds	$	21	$	21	$	—	$	—
Equity securities:
Collective investment funds	507		—		507		—
Mutual funds	53		53		—		—
Common stock	420		420		—		—
Fixed income securities:
U.S. Treasury and other U.S. government agency securities	534		534		—		—
Corporate and municipal bonds and notes	308		—		308		—
Collateralized mortgage obligations	5		—		5		—
U.S. government agency mortgage-backed securities	2		—		2		—
Mutual funds	69		69		—		—
Private placements	30		—		—		30
Other assets:
Securities purchased under agreements to resell	4		—		4		—
Total investments at fair value	$	1,953	$	1,097	$	826	$	30
December 31, 2011
Cash equivalent securities:
Mutual funds	$	21	$	21	$	—	$	—
Equity securities:
Collective investment funds	340		—		340		—
Mutual funds	154		154		—		—
Common stock	368		368		—		—
Fixed income securities:
U.S. Treasury and other U.S. government agency securities	236		236		—		—
Corporate and municipal bonds and notes	344		—		344		—
U.S. government agency mortgage-backed securities	2		—		2		—
Mutual funds	22		22		—		—
Private placements	26		—		—		26
Total investments at fair value	$	1,513	$	801	$	686	$	26

Changes in Level 3 Defined Benedit Plan Investments

The table below provides a summary of changes in the Corporation’s qualified defined benefit pension plan’s Level 3 investments measured at fair value on a recurring basis for the years ended December 31, 2012 and 2011.

			Net Gains
(in millions)	Balance at Beginning of Period		Realized		Unrealized		Purchases		Sales			Balance at End of Period
Year Ended December 31, 2012
Private placements	$	26	$	—	$	2	$	11	$	(9	)	$	30
Year Ended December 31, 2011
Private placements	$	28	$	—	$	1	$	9	$	(12	)	$	26

Estimated Future Benefit Payments

	Estimated Future Benefit Payments
(in millions) Years Ended December 31	Qualified Defined Benefit Pension Plan		Non-Qualified Defined Benefit Pension Plan		Postretirement Benefit Plan (a)
2013	$	59	$	10	$	7
2014	63		11		7
2015	67		12		7
2016	72		12		7
2017	77		13		6
2018 - 2022	467		73		28

(a) Estimated benefit payments in the postretirement benefit plan are net of estimated Medicare subsidies.