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Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2013
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]
Total income taxes were as follows:
Year Ended December 31,
2013
 
2012
 
2011
 
(in millions)
Provision (benefit) for income taxes related to continuing operations
$
325

 
$
(1,406
)
 
$
(1,431
)
Income taxes related to adjustments included in common shareholder’s equity:
 
 
 
 
 
Unrealized gains (losses) on securities available-for-sale, not other-than-temporarily impaired, net
(62
)
 
7

 
13

Unrealized gains on other-than-temporarily impaired debt securities available-for-sale
(1
)
 
1

 
3

Unrealized gains on cash flow hedging instruments
143

 
75

 
52

Changes in funded status of postretirement benefit plans
8

 
(8
)
 
(6
)
Foreign currency translation adjustments
(10
)
 
1

 
(1
)
Total
$
403

 
$
(1,330
)
 
$
(1,370
)
Provisions (benefits) for income taxes related to our continuing operations all of which were in the United States were:
Year Ended December 31,
2013
 
2012
 
2011
 
(in millions)
Current benefit
$
(917
)
 
$
(958
)
 
$
(772
)
Deferred provision (benefit)
1,242

 
(448
)
 
(659
)
Total income provision (benefit)
$
325

 
$
(1,406
)
 
$
(1,431
)
The significant components of deferred provisions (benefits) attributable to income from continuing operations were:
Year Ended December 31,
2013
 
2012
 
2011
 
(in millions)
Deferred income tax provision (benefit) (excluding the effects of other components)
$
1,443

 
$
(597
)
 
$
(602
)
Increase in Federal operating loss carryforwards
(141
)
 
—

 
—

(Decrease) increase in State valuation allowance
(51
)
 
323

 
(65
)
Decrease (increase) in State operating loss carryforwards and credits
11

 
(296
)
 
(65
)
(Increase) decrease in foreign and general business tax credits
(20
)
 
122

 
73

Deferred income tax provision (benefit)
$
1,242

 
$
(448
)
 
$
(659
)
Summary of Effective Tax Rates
A reconciliation of income tax expense (benefit) compared with the amounts at the U.S. federal statutory rates was as follows:
Year Ended December 31,
2013
 
2012
 
2011
 
(dollars are in millions)
Tax provision (benefit) at the U.S. federal statutory income tax rate
$
363

 
35.0
 %
 
$
(1,334
)
 
(35.0
)%
 
$
(1,315
)
 
(35.0
)%
Increase (decrease) in rate resulting from:
 
 
 
 
 
 
 
 
 
 
 
State and local taxes, net of Federal benefit
9

 
.9

 
(19
)
 
(.5
)
 
(19
)
 
(.5
)
Adjustment with respect to tax for prior periods(1)
11

 
1.1

 
(51
)
 
(1.3
)
 
5

 
.1

Adjustment of tax rate used to value deferred taxes
(5
)
 
(.5
)
 
(7
)
 
(.2
)
 
—

 
—

Change in valuation allowance and reserves(2)
(11
)
 
(1.1
)
 
15

 
.4

 
(130
)
 
(3.5
)
Uncertain tax adjustments(3)
(10
)
 
(1.0
)
 
(15
)
 
(.4
)
 
—

 
—

Other non-deductible/non-taxable items(4)
(29
)
 
(2.8
)
 
—

 
—

 
29

 
.8

Other
(3
)
 
(.3
)
 
5

 
.1

 
(1
)
 
—

Total income tax benefit
$
325

 
31.3
 %
 
$
(1,406
)
 
(36.9
)%
 
$
(1,431
)
 
(38.1
)%
 
(1)
For 2013, 2012 and 2011, the amount relates to corrections to current and deferred tax balance sheet accounts and changes in estimates as a result of filing the Federal and state income tax returns.
(2)
For 2013 and 2012, the amounts relate to changes in valuation allowance in states with net operating loss carryforward periods of 12 to 20 years. For 2011, the amount relates mainly to the release of a valuation allowance previously established on foreign tax credits.
(3) 
For 2013 and 2012, the amounts primarily relate to the conclusion of state audits and expiration of state statutes of limitations.
(4) 
For 2013, the amount includes a change in the estimated deductibility of accrued costs for certain regulatory matters that were accrued during 2011.
Schedule of Deferred Tax Assets and Liabilities
Temporary differences which gave rise to a significant portion of deferred tax assets and liabilities were as follows:
 
December 31, 2013
 
December 31, 2012
 
(in millions)
Deferred Tax Assets:
 
 
 
Credit loss reserves
$
1,220

 
$
1,678

Receivables held for sale
101

 
921

Federal and state unused tax benefit carryforwards
1,080

 
930

Market value adjustment related to derivatives and long-term debt carried at fair value
392

 
624

Interests in Real Estate Mortgage Investment Conduits (1)
394

 
505

Accrued expenses not currently deductible
199

 
183

Other
271

 
280

Total deferred tax assets
3,657

 
5,121

Valuation allowance
(931
)
 
(982
)
Total deferred tax assets net of valuation allowance
2,726

 
4,139

Deferred Tax Liabilities:
 
 
 
Fee income
82

 
105

Other
64

 
145

Total deferred tax liabilities
146

 
250

Net deferred tax asset
$
2,580

 
$
3,889

 
(1) 
Real Estate Mortgage Investment Conduits ("REMIC") are investment vehicles that hold commercial and residential mortgages in trust and issue securities representing an undivided interest in these mortgages. We hold portfolios of noneconomic residual interests in a number of REMICs through one of our subsidiaries. This item represents the tax basis in such interests which has accumulated as a result of tax rules requiring the recognition of income related to such noneconomic residuals.
Summary of Valuation Allowance
The deferred tax valuation allowance is attributed to the following deferred tax assets that based on the available evidence it is more-likely-than-not that the deferred tax asset will not be realized:
 
December 31, 2013
 
December 31, 2012
 
(in millions)
State unused tax benefit carryforwards
$
875

 
$
926

Deferred capital loss on sale to affiliates
49

 
49

Other
7

 
7

Total
$
931

 
$
982
Schedule of Unrecognized Tax Benefits Roll Forward
A reconciliation of the beginning and ending amount of unrecognized tax benefits related to uncertain tax positions is as follows:
 
2013
 
2012
 
2011
 
(in millions)
Balance at beginning of year
$
165

 
$
153

 
$
164

Additions based on tax positions related to the current year
—

 
8

 
4

Additions for tax positions of prior years
3

 
49

 
60

Reductions for tax positions of prior years
(41
)
 
(27
)
 
(19
)
Settlements
(8
)
 
(18
)
 
(42
)
Reductions for lapse of statute of limitations
(8
)
 
—

 
(14
)
Balance at end of year
$
111

 
$
165

 
$
153