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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Interest Income        
Interest and Fee Income, Loans and Leases Held-in-portfolio $ 1,721 $ 1,476 $ 3,418 $ 2,874
Interest and fees on loans held for sale 15 24 29 45
Interest and Dividend Income, Securities, Available-for-sale 223 210 444 416
Trading account interest and other 62 49 117 92
Total interest income 2,021 1,759 4,008 3,427
Interest Expense        
Interest Expense, Deposits 269 159 519 291
Interest Expense, Long-term Debt 150 83 275 157
Interest on other borrowings 67 29 136 51
Total interest expense 486 271 930 499
Net, interest income 1,535 1,488 3,078 2,928
Provision for Loan, Lease, and Other Losses 127 [1] 32 [2] 280 [3] 60 [4]
Interest Income (Expense), after Provision for Loan Loss 1,408 1,456 2,798 2,868
Noninterest Income        
Service charges on deposit accounts 139 144 276 289
Other charges and fees [5] 88 91 175 175
Card fees 82 85 165 166
Investment Banking Revenue [5] 142 169 272 302
Trading Gain (Loss) 55 53 114 95
Gain (Loss) Related to Litigation Settlement 205 0 205 0
Mortgage Related Income [6] 86 83 187 174
Trust and investment management income 73 75 144 150
Retail investment services 75 73 144 145
Commercial Real Estate Related Income 50 18 74 42
Debt and Equity Securities, Gain (Loss) (42) 0 (42) 1
Noninterest Income, Other Operating Income 72 38 96 87
Noninterest Income 1,025 829 1,810 1,626
Noninterest Expense        
Employee compensation 728 714 1,404 1,422
Other Labor-related Expenses 100 88 248 234
Outside processing and software 241 227 479 433
Charitable contribution to the SunTrust Foundation 205 0 205 0
Net occupancy expense 102 90 204 184
Merger-Related Costs 8 0 53 0
Marketing and Advertising Expense 46 40 87 81
Equipment Expense 36 44 78 84
Federal Deposit Insurance Corporation Premium Expense 17 39 36 79
Operating losses 14 17 37 23
Amortization 17 17 33 32
Other Noninterest Expense 124 114 264 235
Noninterest Expense 1,638 1,390 3,128 2,807
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest 795 895 1,480 1,687
Income Tax Expense (Benefit) 105 171 208 318
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest 690 724 1,272 1,369
Net Income (Loss) Attributable to Noncontrolling Interest 2 2 4 4
Net Income (Loss) Attributable to Parent 688 722 1,268 1,365
Preferred Stock Dividends and Other Adjustments 25 25 51 55
Net Income (Loss) Available to Common Stockholders, Basic $ 663 $ 697 $ 1,217 $ 1,310
Earnings Per Share, Diluted $ 1.48 $ 1.49 $ 2.72 $ 2.78
Earnings Per Share, Basic 1.49 1.50 2.74 2.80
Common Stock, Dividends, Per Share, Declared $ 0.50 $ 0.40 $ 1.00 $ 0.80
Weighted Average Number of Shares Outstanding, Diluted 446,391 469,339 446,526 471,468
Weighted Average Number of Shares Outstanding, Basic 443,806 465,529 443,687 467,117
[1] Provision for credit losses represents net charge-offs by segment combined with an allocation to the segments for the provision attributable to quarterly changes in the ALLL and unfunded commitment reserve balances.
[2]
Provision for credit losses represents net charge-offs by segment combined with an allocation to the segments for the provision attributable to quarterly changes in the ALLL and unfunded commitment reserve balances.
[3] Provision for credit losses represents net charge-offs by segment combined with an allocation to the segments for the provision attributable to quarterly changes in the ALLL and unfunded commitment reserve balances.
[4] Provision/(benefit) for credit losses represents net charge-offs by segment combined with an allocation to the segments for the provision/(benefit) attributable to quarterly changes in the ALLL and unfunded commitment reserve balances.
[5] Beginning July 1, 2018, the Company began presenting bridge commitment fee income related to capital market transactions in Investment banking income on the Consolidated Statements of Income. For periods prior to July 1, 2018, this income was previously presented in Other charges and fees and has been reclassified to Investment banking income for comparability.
[6] Beginning with the 2018 Form 10-K, the Company began presenting Mortgage production related income and Mortgage servicing related income as a single line item on the Consolidated Statements of Income titled Mortgage related income. Prior periods have been conformed to this updated presentation for comparability.