Other Assets (Tables)

12 Months Ended

Dec. 31, 2023

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Components of Other Assets

The components of other assets are as follows:

December 31,	2023		2022
Deferred tax assets — net	$	4,300	$	5,370
Other investments (1)	3,155		2,130
Receivables — interest, dividends, and other	2,538		1,919
Other securities owned at fair value (2)	1,913		1,432
Other receivables from brokers, dealers, and clearing organizations	1,764		2,171
Securities borrowed	1,563		705
Operating lease ROU assets	630		894
Customer contract receivables (3)	599		560
Capitalized contract costs	416		379
Contract assets — net	239		—
Other	783		539
Total other assets	$	17,900	$	16,099

(1) Includes LIHTC investments and certain other CRA-related investments (see Note 10). This item also includes investments in FHLB stock of $1.1 billion and $528 million at December 31, 2023 and 2022, respectively, which are required to be held as a condition of borrowing with the FHLB (see Note 12) and can only be sold to the issuer at its par value. Any cash dividends received from investments in FHLB stock are recognized as interest revenue in the consolidated statements of income. Other investments also includes investments in Federal Reserve stock of $468 million and $345 million at December 31, 2023 and 2022, respectively; these holdings are a condition of CSB, CSPB, and Trust Bank’s membership with the Federal Reserve.

(2) Includes fractional shares held in client brokerage accounts. Corresponding repurchase liabilities in an equal amount for these client-held fractional shares are included in accrued expenses and other liabilities on the consolidated balance sheet. See also Notes 2 and 18.

(3) Represents substantially all receivables from contracts with customers within the scope of ASC 606.