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CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($)
shares in Thousands, $ in Millions
Total
Preferred Stock
Common Stock
Capital Surplus
Retained Earnings
Accumulated Other Comprehensive Income (Loss)
Noncontrolling Interest
Balance, beginning of period (in shares) at Dec. 31, 2020   26,250 555,031        
Balance, beginning of period at Dec. 31, 2020 $ 8,307 $ 470 $ 347 $ 5,074 $ 2,261 $ (140) [1] $ 295
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 236       233   3
Other comprehensive income (loss) (101)         (101) [1]  
Comprehensive income (loss) 135       233 (101) [1] 3
Cash dividends declared:              
Preferred stock (8)       (8)    
Common stock (84)       (84)    
Common stock repurchased (in shares) [2]     (3,864)        
Common stock repurchased [2] (62)   $ (2) (60)      
Common stock issued for:              
Stock options exercised and restricted stock awards (in shares)     1,208        
Stock options exercised and restricted stock awards 12     12      
Stock-based compensation expense 10     10      
Dividends declared - noncontrolling interest of subsidiary preferred stock (3)           (3)
Balance, ending of period (in shares) at Mar. 31, 2021   26,250 552,375        
Balance, end of period at Mar. 31, 2021 8,307 $ 470 $ 345 5,036 2,402 (241) [1] 295
Balance, beginning of period (in shares) at Dec. 31, 2020   26,250 555,031        
Balance, beginning of period at Dec. 31, 2020 8,307 $ 470 $ 347 5,074 2,261 (140) [1] 295
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 781            
Other comprehensive income (loss) (101)            
Comprehensive income (loss) 680            
Balance, ending of period (in shares) at Sep. 30, 2021   26,750 541,860        
Balance, end of period at Sep. 30, 2021 8,532 $ 520 $ 339 4,866 2,753 (241) [1] 295
Balance, beginning of period (in shares) at Mar. 31, 2021   26,250 552,375        
Balance, beginning of period at Mar. 31, 2021 8,307 $ 470 $ 345 5,036 2,402 (241) [1] 295
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 311       308   3
Other comprehensive income (loss) 38         38 [1]  
Comprehensive income (loss) 349       308 38 [1] 3
Cash dividends declared:              
Preferred stock (8)       (8)    
Common stock (85)       (85)    
Preferred stock issuance (in shares)   1,500          
Preferred stock issuance 145 $ 145          
Call of preferred stock (in shares)   (1,000)          
Call of preferred stock (100) $ (95)     (5)    
Common stock repurchased (in shares) [2]     (3,435)        
Common stock repurchased [2] (64)   $ (3) (61)      
Common stock issued for:              
Stock options exercised and restricted stock awards (in shares)     1,925        
Stock options exercised and restricted stock awards 13   $ 2 11      
Stock-based compensation expense 11     11      
Dividends declared - noncontrolling interest of subsidiary preferred stock (3)           (3)
Balance, ending of period (in shares) at Jun. 30, 2021   26,750 550,865        
Balance, end of period at Jun. 30, 2021 8,565 $ 520 $ 344 4,997 2,612 (203) [1] 295
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 235       232   3
Other comprehensive income (loss) (38)         (38) [1]  
Comprehensive income (loss) 197       232 (38) [1] 3
Cash dividends declared:              
Preferred stock (8)       (8)    
Common stock (83)       (83)    
Common stock repurchased (in shares)     (9,235)        
Common stock repurchased (146)   $ (5) (141)      
Common stock issued for:              
Stock options exercised and restricted stock awards (in shares)     230        
Stock options exercised and restricted stock awards 0            
Stock-based compensation expense 10     10      
Dividends declared - noncontrolling interest of subsidiary preferred stock (3)           (3)
Balance, ending of period (in shares) at Sep. 30, 2021   26,750 541,860        
Balance, end of period at Sep. 30, 2021 8,532 $ 520 $ 339 4,866 2,753 (241) [1] 295
Balance, beginning of period (in shares) at Dec. 31, 2021   26,750 533,577        
Balance, beginning of period at Dec. 31, 2021 8,494 $ 520 $ 333 4,743 2,891 (288) [3] 295
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 198       195   3
Other comprehensive income (loss) (423)         (423) [3]  
Comprehensive income (loss) (225)       195 (423) [3] 3
Cash dividends declared:              
Preferred stock (8)       (8)    
Common stock (82)       (82)    
Preferred stock issuance (in shares)   4,936          
Preferred stock issuance 494 $ 494          
Common stock repurchased (in shares)     (120)        
Common stock repurchased (2)     (2)      
Common stock issued for:              
Stock options exercised and restricted stock awards (in shares)     1,130        
Stock options exercised and restricted stock awards 15   $ 1 14      
Stock-based compensation expense 14     14      
Dividends declared - noncontrolling interest of subsidiary preferred stock (3)           (3)
Balance, ending of period (in shares) at Mar. 31, 2022   31,686 534,587        
Balance, end of period at Mar. 31, 2022 8,697 $ 1,014 $ 334 4,769 2,996 (711) [3] 295
Balance, beginning of period (in shares) at Dec. 31, 2021   26,750 533,577        
Balance, beginning of period at Dec. 31, 2021 8,494 $ 520 $ 333 4,743 2,891 (288) [3] 295
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 642            
Other comprehensive income (loss) (1,139)            
Comprehensive income (loss) (497)            
Balance, ending of period (in shares) at Sep. 30, 2022   31,686 536,737        
Balance, end of period at Sep. 30, 2022 8,283 $ 1,014 $ 335 4,812 3,254 (1,427) [3] 295
Balance, beginning of period (in shares) at Mar. 31, 2022   31,686 534,587        
Balance, beginning of period at Mar. 31, 2022 8,697 $ 1,014 $ 334 4,769 2,996 (711) [3] 295
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 177       174   3
Other comprehensive income (loss) (252)         (252) [3]  
Comprehensive income (loss) (75)       174 (252) [3] 3
Cash dividends declared:              
Preferred stock (8)       (8)    
Common stock (83)       (83)    
Common stock repurchased (in shares)     (334)        
Common stock repurchased (8)   $ (1) (7)      
Common stock issued for:              
Stock options exercised and restricted stock awards (in shares)     2,080        
Stock options exercised and restricted stock awards 13   $ 2 11      
Stock-based compensation expense 18     18      
Dividends declared - noncontrolling interest of subsidiary preferred stock (3)           (3)
Balance, ending of period (in shares) at Jun. 30, 2022   31,686 536,333        
Balance, end of period at Jun. 30, 2022 8,551 $ 1,014 $ 335 4,791 3,079 (963) [3] 295
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income 268       265   3
Other comprehensive income (loss) (464)         (464) [3]  
Comprehensive income (loss) (196)       265 (464) [3] 3
Cash dividends declared:              
Preferred stock (8)       (8)    
Common stock (82)       (82)    
Common stock repurchased (in shares)     (103)        
Common stock repurchased (3)   $ 0 (3)      
Common stock issued for:              
Stock options exercised and restricted stock awards (in shares)     507        
Stock options exercised and restricted stock awards 3     3      
Stock-based compensation expense 21     21      
Dividends declared - noncontrolling interest of subsidiary preferred stock (3)           (3)
Balance, ending of period (in shares) at Sep. 30, 2022   31,686 536,737        
Balance, end of period at Sep. 30, 2022 $ 8,283 $ 1,014 $ 335 $ 4,812 $ 3,254 $ (1,427) [3] $ 295
[1] Due to the nature of the preferred stock issued by FHN and its subsidiaries, all components of other comprehensive income (loss) have been attributed solely to FHN as the controlling interest holder.
[2] Includes $59 million, $57 million and $141 million repurchased under share repurchase programs for the three months ended March 31, 2021, June 30, 2021, and September 30, 2021, respectively.
[3] Due to the nature of the preferred stock issued by FHN and its subsidiaries, all components of other comprehensive income (loss) have been attributed solely to FHN as the controlling interest holder.