Preferred Stock (Tables)

3 Months Ended

Mar. 31, 2024

Equity [Abstract]

Shares Issued and Outstanding and Carrying Amount of Preferred Stock

The number of shares issued and outstanding and the carrying amount of each outstanding series of the Company’s preferred stock were as follows:

	March 31, 2024							December 31, 2023
(Dollars in Millions)	Shares Issued and Outstanding	Liquidation Preference		Discount		Carrying Amount		Shares Issued and Outstanding	Liquidation Preference		Discount		Carrying Amount
Series A	12,510	$	1,251	$	145	$	1,106	12,510	$	1,251	$	145	$	1,106
Series B	40,000	1,000		—		1,000		40,000	1,000		—		1,000
Series J	40,000	1,000		7		993		40,000	1,000		7		993
Series K	23,000	575		10		565		23,000	575		10		565
Series L	20,000	500		14		486		20,000	500		14		486
Series M	30,000	750		21		729		30,000	750		21		729
Series N	60,000	1,500		8		1,492		60,000	1,500		8		1,492
Series O	18,000	450		13		437		18,000	450		13		437
Total preferred stock(a)	243,510	$	7,026	$	218	$	6,808	243,510	$	7,026	$	218	$	6,808

(a)The par value of all shares issued and outstanding at March 31, 2024 and December 31, 2023, was $1.00 per share.