Income Taxes (Tables)

12 Months Ended

Dec. 31, 2011

Income Taxes [Abstract]

Components of income tax expense

Year Ended December 31 (Dollars in Millions)	2011		2010			2009
Federal
Current	$	907	$	1,105		$	765
Deferred		689		(339	)		(499	)
Federal income tax		1,596		766			266
State
Current		186		200			175
Deferred		59		(31	)		(46	)
State income tax		245		169			129
Total income tax provision	$	1,841	$	935		$	395

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

Year Ended December 31 (Dollars in Millions)	2011			2010			2009
Tax at statutory rate	$	2,320		$	1,470		$	921
State income tax, at statutory rates, net of federal tax benefit		159			110			84
Tax effect of
Tax credits, net of related expenses		(458	)		(462	)		(421	)
Tax-exempt income		(226	)		(214	)		(202	)
Noncontrolling interests		29			18			(11	)
Other items		17			13			24
Applicable income taxes	$	1,841		$	935		$	395

Reconciliation of the changes in the federal, state and foreign unrecognized tax positions balances

Year Ended December 31 (Dollars in Millions)	2011			2010			2009
Balance at beginning of period	$	532		$	440		$	283
Additions for tax positions taken in prior years		24			116			31
Additions for tax positions taken in the current year		2			30			145
Exam resolutions		(70	)		—			(12	)
Statute expirations		(9	)		(54	)		(7	)
Balance at end of period	$	479		$	532		$	440

Significant components of net deferred tax asset and liability

(Dollars in Millions)	2011			2010
Deferred Tax Assets
Allowance for credit losses	$	1,872		$	2,100
Accrued expenses		399			317
Pension and postretirement benefits		281			113
Stock compensation		203			201
Securities available-for-sale and financial instruments		85			393
Federal, state and foreign net operating loss carryforwards		26			52
Partnerships and other investment assets		571			429
Other deferred tax assets, net		96			284
Gross deferred tax assets		3,533			3,889
Deferred Tax Liabilities
Leasing activities		(3,048	)		(2,269	)
Mortgage servicing rights		(522	)		(311	)
Goodwill and other intangible assets		(517	)		(407	)
Loans		(175	)		(139	)
Fixed assets		(169	)		(113	)
Other deferred tax liabilities, net		(176	)		(176	)
Gross deferred tax liabilities		(4,607	)		(3,415	)
Valuation allowance		(51	)		(50	)
Net Deferred Tax Asset (Liability)	$	(1,125	)	$	424