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CONSOLIDATED BALANCE SHEET (UNAUDITED) (USD $)
In Millions, unless otherwise specified
Mar. 31, 2014
Dec. 31, 2013
Assets:    
Cash and due from banks $ 1,155 $ 961
Interest bearing deposits with banks 23,466 19,614
Securities purchased under agreements to resell 1,352 2,119
Trading assets 27,336 28,894
Securities available-for-sale 53,588 54,906
Securities held-to-maturity (fair value of $1.4 billion and $1.5 billion at March 31, 2014 and December 31, 2013, respectively) 1,285 1,358
Loans 68,897 67,695
Less – allowance for credit losses 574 606
Loans, net 68,323 67,089
Loans held for sale (includes $753 million and $58 million designated under fair value option at March 31, 2014 and December 31, 2013, respectively) 969 230
Properties and equipment, net 259 269
Intangible assets, net 262 295
Goodwill 1,612 1,612
Other assets 7,567 8,140
Total assets 187,174 [1] 185,487 [1]
Deposits in domestic offices:    
Noninterest bearing 28,243 29,707
Interest bearing (includes $7.6 billion and $7.7 billion designated under fair value option at March 31, 2014 and December 31, 2013, respectively) 62,437 62,903
Deposits in foreign offices:    
Noninterest bearing 1,331 1,364
Interest bearing 13,520 18,634
Total deposits 105,531 112,608
Short-term borrowings 28,767 19,135
Long-term debt (includes $7.7 billion and $7.6 billion designated under fair value option at March 31, 2014 and December 31, 2013, respectively) 22,953 22,847
Total debt 157,251 154,590
Trading liabilities 9,349 10,875
Interest, taxes and other liabilities 3,907 3,558
Total liabilities 170,507 [1] 169,023 [1]
Shareholders’ equity    
Preferred stock 1,565 1,565
Common shareholder’s equity:    
Common stock ($5 par; 150,000,000 shares authorized; 713 shares issued and outstanding at March 31, 2014 and December 31, 2013) 0 0
Additional paid-in capital 14,112 14,106
Retained earnings 1,038 952
Accumulated other comprehensive income (loss) (48) (159)
Total common shareholder’s equity 15,102 14,899
Total shareholders’ equity 16,667 16,464
Total liabilities and shareholders’ equity $ 187,174 $ 185,487
[1] The following table summarizes assets and liabilities related to our consolidated variable interest entities (“VIEs”) as of March 31, 2014 and December 31, 2013 which are consolidated on our balance sheet. Assets and liabilities exclude intercompany balances that eliminate in consolidation. Assets: Interest bearing deposits with banks, $3 million and $5 million, Securities held-to-maturity, $180 million and $200 million Other assets $479 million and $502 million. Total assets $662 million and $707 million respectively. Liabilities: Long-term debt $92 million and $92 million, Interest, taxes and other liabilities $80 million and $93 million. Total liabilities $172 million and $185 million, respectively.