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CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($)
$ in Millions
Jun. 30, 2023
Dec. 31, 2022
Assets    
Cash and due from banks $ 2,594 $ 3,466
Other short-term investments [1] 10,943 8,351
Available-for-sale debt and other securities [2] 49,329 51,503
Held-to-maturity securities [3] 2 5
Trading debt securities 1,139 414
Equity securities 331 317
Loans and leases held for sale [4] 760 1,007
Portfolio loans and leases [1],[5] 121,891 121,480
Allowance for loan and lease losses [1] (2,327) (2,194)
Portfolio loans and leases, net 119,564 119,286
Bank premises and equipment [6] 2,275 2,187
Operating lease equipment 537 627
Goodwill 4,919 4,915
Intangible assets 146 169
Servicing rights 1,764 1,746
Other assets [1] 12,973 13,459
Total Assets 207,276 207,452
Deposits:    
Noninterest-bearing deposits 45,264 53,125
Interest-bearing deposits 118,864 110,565
Total deposits 164,128 163,690
Federal funds purchased 163 180
Other short-term borrowings 5,817 4,838
Accrued taxes, interest and expenses 1,765 1,822
Other liabilities [1] 5,316 5,881
Long-term debt [1] 12,278 13,714
Total Liabilities 189,467 190,125
Equity    
Common stock [7] 2,051 2,051
Preferred stock [8] 2,116 2,116
Capital surplus 3,708 3,684
Retained earnings 22,366 21,689
Accumulated other comprehensive loss (5,166) (5,110)
Treasury stock [7] (7,266) (7,103)
Total Equity 17,809 17,327
Total Liabilities and Equity $ 207,276 $ 207,452
[1] Includes $1 and $17 of other short-term investments, $42 and $185 of portfolio loans and leases, $(1) and $(2) of ALLL, $0 and $2 of other assets, $9 and $9 of other liabilities, and $37 and $118 of long-term debt from consolidated VIEs that are included in their respective captions above at June 30, 2023 and December 31, 2022, respectively. For further information, refer to Note 11.
[2] Amortized cost of $55,399 and $57,530 at June 30, 2023 and December 31, 2022, respectively.
[3] Fair value of $2 and $5 at June 30, 2023 and December 31, 2022, respectively.
[4] Includes $596 and $600 of residential mortgage loans held for sale measured at fair value at June 30, 2023 and December 31, 2022, respectively.
[5] Includes $124 and $123 of residential mortgage loans measured at fair value at June 30, 2023 and December 31, 2022, respectively.
[6] Includes $22 and $24 of bank premises and equipment held for sale at June 30, 2023 and December 31, 2022, respectively.
[7] Common shares: Stated value $2.22 per share; authorized 2,000,000,000; outstanding at June 30, 2023 – 680,850,480 (excludes 243,042,101 treasury shares), December 31, 2022 – 683,385,880 (excludes 240,506,701 treasury shares).
[8] 500,000 shares of no par value preferred stock were authorized at both June 30, 2023 and December 31, 2022. There were 422,000 unissued shares of undesignated no par value preferred stock at both June 30, 2023 and December 31, 2022. Each issued share of no par value preferred stock has a liquidation preference of $25,000. 500,000 shares of no par value Class B preferred stock were authorized at both June 30, 2023 and December 31, 2022. There were 300,000 unissued shares of undesignated no par value Class B preferred stock at both June 30, 2023 and December 31, 2022. Each issued share of no par value Class B preferred stock has a liquidation preference of $1,000.