Income Taxes (Tables)

6 Months Ended

Jun. 30, 2011

Income Taxes [Abstract]

Components of income tax expense

	Three Months Ended					Six Months Ended
	June 30,					June 30,
(Dollars in Millions)	2011		2010			2011		2010
Federal
Current	$	51	$	301		$	457	$	455
Deferred		317		(123	)		273		(143	)
Federal income tax		368		178			730		312
State
Current		62		32			72		61
Deferred		28		(11	)		22		(13	)
State income tax		90		21			94		48
Total income tax provision	$	458	$	199		$	824	$	360

Reconciliation of expected income tax expense at the federal statutory rate of 35% percent to the Company's applicable income tax expense

	Three Months Ended						Six Months Ended
	June 30,						June 30,
(Dollars in Millions)	2011			2010			2011			2010
Tax at statutory rate	$	573		$	333		$	1,061		$	622
State income tax, at statutory rates, net of federal tax benefit		58			14			61			31
Tax effect of
Tax credits, net of related expenses		(108	)		(110	)		(195	)		(210	)
Tax-exempt income		(57	)		(53	)		(113	)		(105	)
Noncontrolling interests		8			5			14			7
Other items		(16	)		10			(4	)		15
Applicable income taxes	$	458		$	199		$	824		$	360