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CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($)
$ in Millions
Mar. 31, 2024
Dec. 31, 2023
Assets    
Cash and due from banks $ 2,796 $ 3,142
Other short-term investments [1] 22,840 22,082
Available-for-sale debt and other securities [2] 38,791 50,419
Held-to-maturity securities [3] 11,520 2
Trading debt securities 1,151 899
Equity securities 380 613
Total loans and leases held for sale [4] 339 378
Portfolio loans and leases 116,485 117,234
Allowance for loan and lease losses [1] (2,318) (2,322)
Portfolio loans and leases, net 114,167 114,912
Bank premises and equipment [5] 2,376 2,349
Operating lease equipment 427 459
Goodwill 4,918 4,919
Intangible assets 115 125
Servicing rights 1,756 1,737
Other assets [1] 12,930 12,538
Total Assets 214,506 214,574
Deposits:    
Noninterest-bearing deposits 41,849 43,146
Interest-bearing deposits 127,738 125,766
Total deposits 169,587 168,912
Federal funds purchased 247 193
Other short-term borrowings 2,866 2,861
Accrued taxes, interest and expenses 1,965 2,195
Other liabilities [1] 5,379 4,861
Long-term debt [1] 15,444 16,380
Total Liabilities 195,488 195,402
Equity    
Common stock [6] 2,051 2,051
Preferred stock [7] 2,116 2,116
Capital surplus 3,742 3,757
Retained earnings 23,224 22,997
Accumulated other comprehensive loss (4,888) (4,487)
Treasury stock [6] (7,227) (7,262)
Total Equity 19,018 19,172
Total Liabilities and Equity $ 214,506 $ 214,574
[1] Includes $48 and $55 of other short-term investments, $1,420 and $1,573 of portfolio loans and leases, $(26) and $(28) of ALLL, $29 and $10 of other assets, $25 and $14 of other liabilities and $1,274 and $1,409 of long-term debt from consolidated VIEs that are included in their respective captions above at March 31, 2024 and December 31, 2023, respectively. For further information, refer to Note 11.
[2] Amortized cost of $43,400 and $55,789 at March 31, 2024 and December 31, 2023, respectively.
[3] Fair value of $11,341 and $2 at March 31, 2024 and December 31, 2023, respectively.
[4] Includes $307 and $334 of residential mortgage loans held for sale measured at fair value at March 31, 2024 and December 31, 2023, respectively.
[5] Includes $16 and $19 of bank premises and equipment held for sale at March 31, 2024 and December 31, 2023, respectively.
[6] Common shares: Stated value $2.22 per share; authorized 2,000,000,000; outstanding at March 31, 2024 – 683,812,363 (excludes 240,080,218 treasury shares), December 31, 2023 – 681,124,810 (excludes 242,767,771 treasury shares).
[7] 500,000 shares of no par value preferred stock were authorized at both March 31, 2024 and December 31, 2023. There were 422,000 unissued shares of undesignated no par value preferred stock at both March 31, 2024 and December 31, 2023. 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 March 31, 2024 and December 31, 2023. There were 300,000 unissued shares of undesignated no par value Class B preferred stock at both March 31, 2024 and December 31, 2023. Each issued share of no par value Class B preferred stock has a liquidation preference of $1,000.