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CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (unaudited) - USD ($)
$ in Millions
Total
Cumulative Effect, Period of Adoption, Adjustment
Cumulative Effect, Period of Adoption, Adjusted Balance
Common Stock
Common Stock
Cumulative Effect, Period of Adoption, Adjusted Balance
Preferred Stock
Preferred Stock
Cumulative Effect, Period of Adoption, Adjusted Balance
Capital Surplus
Capital Surplus
Cumulative Effect, Period of Adoption, Adjusted Balance
Retained Earnings
Retained Earnings
Cumulative Effect, Period of Adoption, Adjustment
Retained Earnings
Cumulative Effect, Period of Adoption, Adjusted Balance
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss)
Cumulative Effect, Period of Adoption, Adjusted Balance
Treasury Stock
Treasury Stock
Cumulative Effect, Period of Adoption, Adjusted Balance
Total Bancorp Shareholders’ Equity
Total Bancorp Shareholders’ Equity
Cumulative Effect, Period of Adoption, Adjustment
Total Bancorp Shareholders’ Equity
Cumulative Effect, Period of Adoption, Adjusted Balance
Non- Controlling Interests
Non- Controlling Interests
Cumulative Effect, Period of Adoption, Adjusted Balance
Beginning Balance at Dec. 31, 2018 $ 16,250 $ 10 $ 16,260 $ 2,051 $ 2,051 $ 1,331 $ 1,331 $ 2,873 $ 2,873 $ 16,578 $ 10 $ 16,588 $ (112) $ (112) $ (6,471) $ (6,471) $ 16,250 $ 10 $ 16,260 $ 0 $ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                          
Net Income 1,228                 1,228             1,228        
Other comprehensive income, net of tax 1,290                       1,290       1,290        
Cash dividends declared:                                          
Common stock [1] (343)                 (343)             (343)        
Preferred stock [2] (41)                 (41)             (41)        
Shares acquired for treasury (1,113)                           (1,113)   (1,113)        
Impact of stock transactions under stock compensation plans, net 35             (12)   1         46   35        
Impact of MB Financial, Inc. acquisition 3,356             712             2,447   3,159     197  
Other (1)             (1)   (2)         2   (1)        
Ending Balance at Jun. 30, 2019 20,671     2,051   1,331   3,572   17,431     1,178   (5,089)   20,474     197  
Beginning Balance at Mar. 31, 2019 19,844     2,051   1,331   3,444   17,184     409   (4,772)   19,647     197  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                          
Net Income 453                 453             453        
Other comprehensive income, net of tax 769                       769       769        
Cash dividends declared:                                          
Common stock [3] (178)                 (178)             (178)        
Preferred stock [4] (26)                 (26)             (26)        
Shares acquired for treasury (200)             135             (335)   (200)        
Impact of stock transactions under stock compensation plans, net 10             (7)             17   10        
Other (1)                 (2)         1   (1)        
Ending Balance at Jun. 30, 2019 20,671     2,051   1,331   3,572   17,431     1,178   (5,089)   20,474     197  
Beginning Balance at Dec. 31, 2019 21,203 $ (472) [5] $ 20,731 2,051 $ 2,051 1,770 $ 1,770 3,599 $ 3,599 18,315 $ (472) [5] $ 17,843 1,192 $ 1,192 (5,724) $ (5,724) 21,203 $ (472) [5] $ 20,731 0 $ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                          
Net Income 243                 243             243        
Other comprehensive income, net of tax 1,759                       1,759       1,759        
Cash dividends declared:                                          
Common stock [1] (390)                 (390)             (390)        
Preferred stock [2] (50)                 (50)             (50)        
Impact of stock transactions under stock compensation plans, net 43             4             39   43        
Other (1)                 (3)         2   (1)        
Ending Balance at Jun. 30, 2020 22,335     2,051   1,770   3,603   17,643     2,951   (5,683)   22,335     0  
Beginning Balance at Mar. 31, 2020 21,873     2,051   1,770   3,597   17,677     2,477   (5,699)   21,873     0  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                          
Net Income 195                 195             195        
Other comprehensive income, net of tax 474                       474       474        
Cash dividends declared:                                          
Common stock [3] (195)                 (195)             (195)        
Preferred stock [4] (32)                 (32)             (32)        
Impact of stock transactions under stock compensation plans, net 20             6             14   20        
Other 0                 (2)         2   0        
Ending Balance at Jun. 30, 2020 $ 22,335     $ 2,051   $ 1,770   $ 3,603   $ 17,643     $ 2,951   $ (5,683)   $ 22,335     $ 0  
[1] Dividends declared per common share were $0.54 and $0.46 for the six months ended June 30, 2020 and 2019, respectively.
[2] For both the six months ended June 30, 2020 and 2019, dividends were $637.50 per preferred share for Perpetual Preferred Stock, Series H and $828.12 per preferred share for Perpetual Preferred Stock, Series I. For the six months ended June 30, 2020 and 2019, dividends per preferred share for Perpetual Preferred Stock, Series J were $609.93 and $612.50, respectively. For the six months ended June 30, 2020, dividends were $618.76 per preferred share for Perpetual Preferred Stock, Series K and $30.00 per preferred share for Perpetual Class B Preferred Stock, Series A. For the six months ended June 30, 2019, dividends were $15.00 per preferred share for Perpetual Preferred Stock, Series C, of MB Financial, Inc., a subsidiary of the Bancorp.
[3] Dividends declared per common share were $0.27 and $0.24 for the three months ended June 30, 2020 and 2019, respectively.
[4] For both the three months ended June 30, 2020 and 2019, dividends were $637.50 per preferred share for Perpetual Preferred Stock, Series H and $414.06 per preferred share for Perpetual Preferred Stock, Series I. For the three months ended June 30, 2020, dividends were $289.38 per preferred share for Perpetual Preferred Stock, Series J, $309.38 per preferred share for Perpetual Preferred Stock, Series K, and $15.00 per preferred share for Perpetual Class B Preferred Stock, Series A. For the three months ended June 30, 2019, dividends were $15.00 per preferred share for Perpetual Preferred Stock, Series C, of MB Financial, Inc., a subsidiary of the Bancorp.
[5] Related to the adoption of ASU 2016-13 as of January 1, 2020. Refer to Note 4 for additional information.