XML 55 R32.htm IDEA: XBRL DOCUMENT v3.24.0.1
Parent Company Information
 12 Months Ended
Dec. 31, 2023
Condensed Financial Information Disclosure [Abstract]  
Parent Company Information Parent Company Information
The following tables present the Parent Company-only financial information.
Condensed Statement of Income
(Dollars in millions)202320222021
Income   
Dividends from subsidiaries:   
Bank holding companies and related subsidiaries$22,384 $22,250 $15,621 
Interest from subsidiaries21,314 12,420 8,362 
Other income (loss)(1,012)(201)(114)
Total income42,686 34,469 23,869 
Expense   
Interest on borrowed funds from subsidiaries896 236 54 
Other interest expense14,119 7,041 3,383 
Noninterest expense1,699 1,322 1,531 
Total expense16,714 8,599 4,968 
Income before income taxes and equity in undistributed earnings of subsidiaries25,972 25,870 18,901 
Income tax expense 838 683 886 
Income before equity in undistributed earnings of subsidiaries25,134 25,187 18,015 
Equity in undistributed earnings (losses) of subsidiaries:   
Bank holding companies and related subsidiaries1,203 2,333 14,078 
Nonbank companies and related subsidiaries178 8 (115)
Total equity in undistributed earnings (losses) of subsidiaries1,381 2,341 13,963 
Net income$26,515 $27,528 $31,978 
Condensed Balance Sheet
 December 31
(Dollars in millions)20232022
Assets  
Cash held at bank subsidiaries$4,559 $9,609 
Securities644 617 
Receivables from subsidiaries:
Bank holding companies and related subsidiaries249,320 222,584 
Banks and related subsidiaries205 220 
Nonbank companies and related subsidiaries1,255 978 
Investments in subsidiaries:
Bank holding companies and related subsidiaries306,946 301,207 
Nonbank companies and related subsidiaries3,946 3,770 
Other assets6,799 7,156 
Total assets $573,674 $546,141 
Liabilities and shareholders’ equity  
Accrued expenses and other liabilities$14,510 $14,193 
Payables to subsidiaries:
Banks and related subsidiaries207 260 
Bank holding companies and related subsidiaries14 21 
Nonbank companies and related subsidiaries17,756 14,578 
Long-term debt249,541 243,892 
Total liabilities282,028 272,944 
Shareholders’ equity291,646 273,197 
Total liabilities and shareholders’ equity$573,674 $546,141 
Condensed Statement of Cash Flows
(Dollars in millions)202320222021
Operating activities   
Net income $26,515 $27,528 $31,978 
Reconciliation of net income (loss) to net cash provided by (used in) operating activities:   
Equity in undistributed (earnings) losses of subsidiaries(1,381)(2,341)(13,963)
Other operating activities, net3,395 (31,777)(7,144)
Net cash provided by (used in) operating activities28,529 (6,590)10,871 
Investing activities   
Net sales (purchases) of securities(15)25 (14)
Net payments to subsidiaries(21,267)(6,044)(10,796)
Other investing activities, net(43)(34)(26)
Net cash used in investing activities(21,325)(6,053)(10,836)
Financing activities   
Net increase (decrease) in other advances2,825 2,853 503 
Proceeds from issuance of long-term debt23,950 44,123 56,106 
Retirement of long-term debt(25,366)(19,858)(24,544)
Proceeds from issuance of preferred stock and warrants— 4,426 2,170 
Redemption of preferred stock— (654)(1,971)
Common stock repurchased(4,576)(5,073)(25,126)
Cash dividends paid(9,087)(8,576)(8,055)
Net cash provided by (used in) financing activities(12,254)17,241 (917)
Net increase (decrease) in cash held at bank subsidiaries(5,050)4,598 (882)
Cash held at bank subsidiaries at January 19,609 5,011 5,893 
Cash held at bank subsidiaries at December 31$4,559 $9,609 $5,011