Shareholders' Equity (Tables)

12 Months Ended

Dec. 31, 2021

Equity [Abstract]

Schedule of Dividends

Declared Quarterly Cash Dividends on Common Stock (1)
Declaration Date	Record Date	Payment Date	Dividend Per Share
February 2, 2022	March 4, 2022	March 25, 2022	$	0.21
October 20, 2021	December 3, 2021	December 31, 2021	0.21
July 21, 2021	September 3, 2021	September 24, 2021	0.21
April 22, 2021	June 4, 2021	June 25, 2021	0.18
January 19, 2021	March 5, 2021	March 26, 2021	0.18

(1)In 2021, and through February 22, 2022.

Schedule of Stockholders Equity

The table below summarizes common stock repurchases during 2021, 2020 and 2019.

Common Stock Repurchase Summary
(in millions)	2021		2020		2019
Total share repurchases, including CCAR capital plan repurchases	615		227		956
Purchase price of shares repurchased and retired
CCAR capital plan repurchases	$	25,126	$	7,025	$	25,644
Other authorized repurchases	—		—		2,500
Total shares repurchased	$	25,126	$	7,025	$	28,144

The table below presents a summary of perpetual preferred stock outstanding at December 31, 2021.

Preferred Stock Summary
(Dollars in millions, except as noted)
Series	Description		Initial Issuance Date	Total Shares Outstanding	Liquidation Preference per Share (in dollars)		Carrying Value		Per Annum Dividend Rate		Dividend per Share (in dollars)		Annual Dividend		Redemption Period (1)
Series B	7% Cumulative Redeemable		June 1997	7,110	$	100	$	1	7.00	%	$	7	$	—	n/a
Series E (2)	Floating Rate Non-Cumulative		November 2006	12,691	25,000		317		3-mo. LIBOR + 35 bps (3)		1.01		13		On or after November 15, 2011
Series F	Floating Rate Non-Cumulative		March 2012	1,409	100,000		141		3-mo. LIBOR + 40 bps (3)		4,055.55		6		On or after March 15, 2012
Series G	Adjustable Rate Non-Cumulative		March 2012	4,926	100,000		493		3-mo. LIBOR + 40 bps (3)		4,055.55		20		On or after March 15, 2012
Series L	7.25% Non-Cumulative Perpetual Convertible		January 2008	3,080,182	1,000		3,080		7.25	%	72.50		223		n/a
Series U (4)	Fixed-to-Floating Rate Non-Cumulative		May 2013	40,000	25,000		1,000		5.2% to, but excluding, 6/1/23; 3-mo. LIBOR + 313.5 bps thereafter		52.00		52		On or after June 1, 2023
Series X (4)	Fixed-to-Floating Rate Non-Cumulative		September 2014	80,000	25,000		2,000		6.250% to, but excluding, 9/5/24; 3-mo. LIBOR + 370.5 bps thereafter		62.50		125		On or after September 5, 2024
Series Z (4)	Fixed-to-Floating Rate Non-Cumulative		October 2014	56,000	25,000		1,400		6.500% to, but excluding, 10/23/24; 3-mo. LIBOR + 417.4 bps thereafter		65.00		91		On or after October 23, 2024
Series AA (4)	Fixed-to-Floating Rate Non-Cumulative		March 2015	76,000	25,000		1,900		6.100% to, but excluding, 3/17/25; 3-mo. LIBOR + 389.8 bps thereafter		61.00		116		On or after March 17, 2025
Series DD (4)	Fixed-to-Floating Rate Non-Cumulative		March 2016	40,000	25,000		1,000		6.300% to, but excluding, 3/10/26; 3-mo. LIBOR + 455.3 bps thereafter		63.00		63		On or after March 10, 2026
Series FF (4)	Fixed-to-Floating Rate Non-Cumulative		March 2018	94,000	25,000		2,350		5.875% to, but excluding, 3/15/28; 3-mo. LIBOR + 293.1 bps thereafter		58.75		138		On or after March 15, 2028
Series GG (2)	6.000% Non-Cumulative		May 2018	54,000	25,000		1,350		6.000	%	1.50		81		On or after May 16, 2023
Series HH (2)	5.875% Non-Cumulative		July 2018	34,160	25,000		854		5.875	%	1.47		50		On or after July 24, 2023
Series JJ (4)	Fixed-to-Floating Rate Non-Cumulative		June 2019	40,000	25,000		1,000		5.125% to, but excluding, 6/20/24; 3-mo. LIBOR + 329.2 bps thereafter		51.25		51		On or after June 20, 2024
Series KK (2)	5.375% Non-Cumulative		June 2019	55,900	25,000		1,398		5.375	%	1.34		75		On or after June 25, 2024
Series LL (2)	5.000% Non-Cumulative		September 2019	52,400	25,000		1,310		5.000	%	1.25		66		On or after September 17, 2024
Series MM (4)	Fixed-to-Floating Rate Non-Cumulative		January 2020	44,000	25,000		1,100		4.300	%	43.00		47		On or after January 28, 2025
Series NN (2)	4.375% Non-Cumulative		October 2020	44,000	25,000		1,100		4.375	%	1.09		48		On or after November 3, 2025
Series PP (2)	4.125% Non-Cumulative	4.125%	January 2021	36,600	25,000		915		4.125	%	1.04		38		On or after February 2, 2026
Series QQ (2)	4.250% Non-Cumulative	4.250%	October 2021	52,000	25,000		1,300		4.250	%	—		—		On or after November 17, 2026
Series 1 (5)	Floating Rate Non-Cumulative		November 2004	3,275	30,000		98		3-mo. LIBOR + 75 bps (6)		0.75		3		On or after November 28, 2009
Series 2 (5)	Floating Rate Non-Cumulative		March 2005	9,967	30,000		299		3-mo. LIBOR + 65 bps (6)		0.76		9		On or after November 28, 2009
Series 4 (5)	Floating Rate Non-Cumulative		November 2005	7,010	30,000		210		3-mo. LIBOR + 75 bps (3)		1.01		9		On or after November 28, 2010
Series 5 (5)	Floating Rate Non-Cumulative		March 2007	14,056	30,000		422		3-mo. LIBOR + 50 bps (3)		1.01		17		On or after May 21, 2012
Issuance costs and certain adjustments							(330)
Total				3,939,686			$	24,708

(1)The Corporation may redeem series of preferred stock on or after the redemption date, in whole or in part, at its option, at the liquidation preference plus declared and unpaid dividends. Series B and Series L Preferred Stock do not have early redemption/call rights.

(2)Ownership is held in the form of depositary shares, each representing a 1/1,000th interest in a share of preferred stock, paying a quarterly cash dividend, if and when declared.

(3)Subject to 4.00% minimum rate per annum.

(4)Ownership is held in the form of depositary shares, each representing a 1/25th interest in a share of preferred stock, paying a semi-annual cash dividend, if and when declared, until the first redemption date at which time, it adjusts to a quarterly cash dividend, if and when declared, thereafter.

(5)Ownership is held in the form of depositary shares, each representing a 1/1,200th interest in a share of preferred stock, paying a quarterly cash dividend, if and when declared.

(6)Subject to 3.00% minimum rate per annum.

n/a = not applicabl