Note 8

Preferred Stock

At September 30, 2014 and December 31, 2013, the Company had authority to issue 50 million shares 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:


	September 30, 2014								December 31, 2013
		Shares								Shares
		Issued and		Liquidation				Carrying		Issued and		Liquidation				Carrying
(Dollars in Millions)	Outstanding		Preference		Discount		Amount		Outstanding		Preference		Discount		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 F		44,000		1,100		12		1,088		44,000		1,100		12		1,088
Series G		43,400		1,085		10		1,075		43,400		1,085		10		1,075
Series H		20,000		500		13		487		20,000		500		13		487
Total preferred stock (a)		159,910	$	4,936	$	180	$	4,756		159,910	$	4,936	$	180	$	4,756

(a)

The par value of all shares issued and outstanding at September 30, 2014 and December 31, 2013, was $1.00 per share.