Income Taxes (Tables)

6 Months Ended

Jun. 30, 2012

Income Taxes [Abstract]

Components of income tax expense

	Three Months Ended June 30,					Six Months Ended   June 30,
(Dollars in Millions)	2012			2011		2012			2011
Federal
Current	$	551		$	51	$	955		$	457
Deferred		(92	)		317		(24	)		273
Federal income tax		459			368		931			730
State
Current		112			62		162			72
Deferred		(7	)		28		(2	)		22
State income tax		105			90		160			94
Total income tax provision	$	564		$	458	$	1,091		$	824

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 June 30,						Six Months Ended   June 30,
(Dollars in Millions)	2012			2011			2012			2011
Tax at statutory rate	$	680		$	573		$	1,321		$	1,061
State income tax, at statutory rates, net of federal tax benefit		68			58			104			61
Tax effect of
Tax credits, net of related expenses		(113	)		(108	)		(202	)		(195	)
Tax-exempt income		(55	)		(57	)		(110	)		(113	)
Noncontrolling interests		13			8			24			14
Other items		(29	)		(16	)		(46	)		(4	)
Applicable income taxes	$	564		$	458		$	1,091		$	824