Income Taxes (Tables)

9 Months Ended

Sep. 30, 2011

Income Taxes [Abstract]

Components of income tax expense

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
(Dollars in Millions)	2011			2010			2011		2010
Federal
Current	$	450		$	313		$	907	$	768
Deferred		(41	)		(123	)		232		(266	)
Federal income tax		409			190			1,139		502
State
Current		85			82			157		143
Deferred		(4	)		(12	)		18		(25	)
State income tax		81			70			175		118
Total income tax provision	$	490		$	260		$	1,314	$	620

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						Nine Months Ended
	September 30,						September 30,
(Dollars in Millions)	2011			2010			2011			2010
Tax at statutory rate	$	610		$	403		$	1,671		$	1,025
State income tax, at statutory rates, net of federal tax benefit		53			46			114			77
Tax effect of
Tax credits, net of related expenses		(124	)		(114	)		(319	)		(324	)
Tax-exempt income		(57	)		(56	)		(170	)		(161	)
Noncontrolling interests		8			5			22			12
Other items		–			(24	)		(4	)		(9	)
Applicable income taxes	$	490		$	260		$	1,314		$	620