Stock Options, Restricted Stock, and Dividend Reinvestment Plans (Tables)

12 Months Ended

Dec. 31, 2020

Share-based Payment Arrangement [Abstract]

Schedule of Restricted and Performance Stock Activity

A summary of restricted and performance stock and unit activity during the year ended December 31, 2020, is presented below:

	Shares/ Units (a)	Weighted average grant date fair value (per share) (b)
January 1, 2020	4,709,987	$	16.25
Shares/units converted from IBKC	2,663,116	9.40
Shares/units granted	2,610,929	9.89
Shares/units vested/distributed	(1,551,877)	15.15
Shares/units canceled	(161,939)	12.55
December 31, 2020	8,270,216	$	12.47

(a)Includes only units that settle in shares; nonvested performance units are included at 100% payout level.

(b)The weighted average grant date fair value for shares/units granted in 2019 and 2018 was $16.25 and $18.70, respectively.

Schedule of Stock Options

The summary of stock option activity for the year ended December 31, 2020, is shown below:

	Options Outstanding	Weighted Average Exercise Price (per share)		Weighted Average Remaining Contractual Term (years)	Aggregate Intrinsic Value (millions)
January 1, 2020	4,931,781	$	15.61
Converted IBKC	3,597,856	14.39
Options granted	584,881	15.90
Options exercised	(597,686)	11.55
Options expired/canceled	(767,750)	17.44
December 31, 2020	7,749,082	$	15.20	3.85	$	5
Options exercisable	5,766,528	15.02		3.16	4
Options expected to vest	1,982,554	15.70		5.86	—

Schedule of Valuation Assumptions, Stock Options

FHN used the Black-Scholes Option Pricing Model to estimate the fair value of stock options granted or converted in 2020, 2019, and 2018 with the following assumptions:

	2020	2019	2018
Expected dividend yield	3.77%	3.63%	2.57%
Expected weighted-average lives of options granted	6.25 years	6.24 years	6.21 years
Expected weighted-average volatility	23.94%	24.76%	24.61%
Expected volatility range	23.32 - 24.56%	23.07 - 26.45%	23.95 - 25.26%
Risk-free interest rate	1.47%	2.53%	2.69%