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Income Taxes (Tables)
 6 Months Ended
Jun. 30, 2013
Income Tax Disclosure [Abstract]  
Effective Tax Rates
The following table is an analysis of the difference between effective rates based on the total income tax provision attributable to pretax income and the statutory U.S. Federal income tax rate.
 
2013
 
2012
 
(dollars are in millions)
Three Months Ended June 30, 2013
 
 
 
 
 
 
 
Tax expense at the U.S. federal statutory income tax rate
$
80

 
35.0
 %
 
$
(84
)
 
(35.0
)%
Increase (decrease) in rate resulting from:
 
 
 
 
 
 
 
State and local taxes, net of federal benefit
13

 
5.7

 
16

 
6.6

Non-deductible expense accrual related to certain regulatory matters(1)
—

 
—

 
245

 
101.2

Non-deductible goodwill related to branch sale(1)
—

 
—

 
106

 
43.8

Other non-deductible / non-taxable items(2)
(12
)
 
(5.2
)
 
(3
)
 
(1.2
)
Items affecting prior periods(3)
(12
)
 
(5.2
)
 
33

 
13.6

Uncertain tax adjustments(4)
4

 
1.7

 
49

 
20.2

Impact of foreign operations
1

 
.4

 
35

 
14.5

Low income housing tax credits
(22
)
 
(9.7
)
 
(31
)
 
(12.8
)
Other
(3
)
 
(1.3
)
 
(15
)
 
(5.9
)
Total income tax expense
$
49

 
21.4
 %
 
$
351

 
145.0
 %
 
 
 
 
 
 
 
 
Six Months Ended June 30, 2013
 
 
 
 
 
 
 
Tax expense at the U.S. federal statutory income tax rate
$
181

 
35.0
 %
 
$
(50
)
 
(35.0
)%
Increase (decrease) in rate resulting from:
 
 
 
 
 
 
 
State and local taxes, net of federal benefit
30

 
5.8

 
22

 
15.3

Adjustment of tax rate used to value deferred taxes
—

 
—

 
(10
)
 
(6.9
)
Non-deductible expense accrual related to certain regulatory matters(1)
—

 
—

 
245

 
170.1

Non-deductible goodwill related to branch sale(1)
—

 
—

 
106

 
73.6

Other non-deductible / non-taxable items(2)
(9
)
 
(1.7
)
 
(8
)
 
(5.6
)
Items affecting prior periods(3)
(22
)
 
(4.3
)
 
33

 
22.9

Uncertain tax adjustments(4)
18

 
3.5

 
65

 
45.1

Impact of foreign operations
4

 
.8

 
21

 
14.6

Low income housing tax credits
(43
)
 
(8.3
)
 
(42
)
 
(29.2
)
Other
(6
)
 
(1.1
)
 
(13
)
 
(8.6
)
Total income tax expense
$
153

 
29.7
 %
 
$
369

 
256.3
 %
 
(1) 
Relates to non-deductible expense related to certain regulatory matters and non-deductible goodwill related to the branches sold to First Niagara in 2012.
(2) 
Mainly relates to a change in the assessment of the deductibility of certain amounts accrued for certain regulatory matters.
(3) 
Relates to corrections to current and deferred tax balance sheet accounts.
(4) 
Reflects changes in state uncertain tax positions which no longer meet the more likely than not requirement for recognition.