Other Assets (Notes)

9 Months Ended

Sep. 30, 2019

Other Assets [Abstract]

Other Assets Disclosure [Text Block]

NOTE 9 - OTHER ASSETS

The components of other assets are presented in the following table:

(Dollars in millions)	September 30, 2019		December 31, 2018
Equity securities 1:
Marketable equity securities:
Mutual fund investments		$66		$79
Other equity	10		16
Nonmarketable equity securities:
Federal Reserve Bank stock	403		403
FHLB stock	334		227
Other equity	84		68
Tax credit investments 2	1,998		1,722
Bank-owned life insurance	1,652		1,627
Lease assets:
Operating lease right-of-use assets 3	1,110		—
Underlying lessor assets subject to operating leases, net 3	1,090		1,205
Build-to-suit lease assets	993		735
Accrued income	1,106		1,106
Accounts receivable	825		602
Pension assets, net	499		484
Prepaid expenses	285		231
OREO	52		54
Other	489		432
Total other assets		$10,996		$8,991

¹ Does not include equity securities held for trading purposes classified as Trading assets and derivative instruments or Trading liabilities and derivative instruments on the Company’s Consolidated Balance Sheets. See Note 4, “Trading Assets and Liabilities and Derivative Instruments,” for more information.

² See Note 11, “Certain Transfers of Financial Assets and Variable Interest Entities,” for additional information.

³ See Note 10, “Leases,” for additional information.

Equity Securities Not Classified as Trading Assets or Liabilities

Equity securities with readily determinable fair values (marketable) that are not held for trading purposes are recorded at fair value and include mutual fund investments and other publicly traded equity securities.

Equity securities without readily determinable fair values (nonmarketable) that are not held for trading purposes include Federal Reserve Bank of Atlanta and FHLB of Atlanta capital stock, both held at cost, as well as other equity securities that the Company elected to account for under the measurement alternative. See Note 1, “Significant Accounting Policies,” to the Company's 2018 Annual Report on Form 10-K for additional information on the Company’s accounting policy for equity securities.

The following table summarizes net gains/(losses) on equity securities not classified as trading assets:

	Three Months Ended September 30						Nine Months Ended September 30
(Dollars in millions)	2019			2018			2019			2018
Net (losses)/gains on marketable equity securities 1		($6	)		($4	)		($3	)		$10
Net gains/(losses) on nonmarketable equity securities:
Remeasurement losses and impairment	—			—			—			—
Remeasurement gains 1	16			7			16			30
Less: Net realized gains on sale	—			—			—			—
Total net unrealized gains on non-trading equity securities		$10			$3			$13			$40

¹ Recognized in Other noninterest income in the Company’s Consolidated Statements of Income.

Bank-Owned Life Insurance

Bank-owned life insurance consists of life insurance policies held on certain employees for which the Company is the beneficiary. These policies provide the Company an efficient form of funding for retirement and other employee benefits costs.

Build-to-Suit Lease Assets

Build-to-suit lease assets includes assets under construction associated with the Company’s build-to-suit leasing arrangements for clients. A direct financing lease, sales-type lease, or operating lease is created after construction of the build-to-suit lease asset is complete.

Accrued Income

Accrued income consists primarily of interest and other income accrued on the Company’s LHFI. Interest income on loans, except those classified as nonaccrual, is accrued based upon the outstanding principal amounts using the effective yield method. See Note 1, “Significant Accounting Policies,” to the Company's 2018 Annual Report on Form 10-K for information regarding the Company’s accounting policy for loans.

Accounts Receivable

Accounts receivable consists primarily of receivables from brokers, dealers, and customers related to pending loan trades, unsettled trades of securities, loan-related advances, and investment securities income due but not received. Accounts receivable also includes proceeds due from the FHA and the VA on foreclosed real estate related to loans that are insured by the FHA or guaranteed by the VA.

Pension Assets

Pension assets (net) represent the funded status of the Company’s overfunded pension and other postretirement benefits plans, measured as the difference between the fair value of plan assets and the benefit obligation at period end.