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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Assets    
Cash and due from banks $ 3,142 $ 3,466
Other short-term investments [1] 22,082 8,351
Available-for-sale debt and other securities [2] 50,419 51,503
Held-to-maturity securities [3] 2 5
Trading debt securities 899 414
Equity securities 613 317
Loans and leases held for sale [4] 378 1,007
Total portfolio loans and leases [1],[5] 117,234 121,480
Allowance for loan and lease losses [1] (2,322) (2,194)
Portfolio loans and leases, net 114,912 119,286
Bank premises and equipment [6] 2,349 2,187
Operating lease equipment 459 627
Goodwill 4,919 4,915
Intangible assets 125 169
Servicing rights 1,737 1,746
Other assets [1] 12,538 13,459
Total Assets 214,574 207,452
Deposits:    
Noninterest-bearing deposits 43,146 53,125
Interest-bearing deposits 125,766 110,565
Total deposits 168,912 163,690
Federal funds purchased 193 180
Other short-term borrowings 2,861 4,838
Accrued taxes, interest and expenses 2,195 1,822
Other liabilities [1] 4,861 5,881
Long-term debt [1] 16,380 13,714
Total Liabilities 195,402 190,125
Equity    
Common stock [7] 2,051 2,051
Preferred stock [8] 2,116 2,116
Capital surplus 3,757 3,684
Retained earnings 22,997 21,689
Accumulated other comprehensive loss (4,487) (5,110)
Treasury stock [7] (7,262) (7,103)
Total Equity 19,172 17,327
Total Liabilities and Equity $ 214,574 $ 207,452
[1] Includes $55 and $17 of other short-term investments, $1,573 and $185 of portfolio loans and leases, $(28) and $(2) of ALLL, $10 and $2 of other assets, $14 and $9 of other liabilities and $1,409 and $118 of long-term debt from consolidated VIEs that are included in their respective captions above at December 31, 2023 and 2022, respectively. For further information, refer to Note 12.
[2] Amortized cost of $55,789 and $57,530 at December 31, 2023 and 2022, respectively.
[3] Fair value of $2 and $5 at December 31, 2023 and 2022, respectively.
[4] Includes $334 and $600 of residential mortgage loans held for sale measured at fair value at December 31, 2023 and 2022, respectively.
[5] Includes $116 and $123 of residential mortgage loans measured at fair value at December 31, 2023 and 2022, respectively.
[6] Includes $19 and $24 of bank premises and equipment held for sale at both December 31, 2023 and 2022. For further information, refer to Note 7.
[7] Common shares: Stated value $2.22 per share; authorized 2,000,000,000; outstanding at December 31, 2023 – 681,124,810 (excludes 242,767,771 treasury shares), 2022 – 683,385,880 (excludes 240,506,701 treasury shares).
[8] 500,000 shares of no par value preferred stock were authorized at both December 31, 2023 and 2022. There were 422,000 unissued shares of undesignated no par value preferred stock at both December 31, 2023 and 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 December 31, 2023 and 2022. There were 300,000 unissued shares of undesignated no par value Class B preferred stock at both December 31, 2023 and 2022. Each issued share of no par value Class B preferred stock has a liquidation preference of $1,000.