Strategic Initiatives (Tables)

12 Months Ended

Dec. 31, 2023

Restructuring and Related Activities [Abstract]

Schedule of Changes in Restructuring Liability

The following table summarizes the changes in the liability associated with our Restructuring Plan during 2022 and 2021:

	Severance and Other Employee Costs(1)		Lease Termination and Associated Costs(2)		Other(3)		Total
	(in millions)
Year Ended December 31, 2022
Restructuring liability at beginning of period	$	10	$	46	$	—	$	56
Restructuring costs accrued during the period	23		2		28		53
Restructuring costs paid during the period	(17)		(16)		(28)		(61)
Restructuring liability at end of period(4)	$	16	$	32	$	—	$	48
Year Ended December 31, 2021
Restructuring liability at beginning of period	$	10	$	23	$	—	$	33
Restructuring costs accrued during the period	12		38		15		65
Restructuring costs paid during the period	(12)		(15)		(15)		(42)
Restructuring liability at end of period	$	10	$	46	$	—	$	56

(1)Severance and other employee costs are included in salaries and employee benefits in the consolidated statement of income. The majority of these costs were reported in the Wealth and Personal Banking business segment. Not included in these costs are allocated severance costs from HSBC Technology & Services (USA) Inc. ("HTSU") discussed further below.

(2)Primarily includes real estate taxes, service charges and decommissioning costs. Lease termination and associated costs are included in occupancy expense, net in the consolidated statement of income and were reported in the Wealth and Personal Banking and the Corporate Center business segments.

(3)Primarily includes professional fees and other staff costs, which are included in other expenses in the consolidated statement of income. The majority of these costs were reported in the Wealth and Personal Banking business segment.

(4)At December 31, 2023, our remaining liability associated with our Restructuring Plan totaled $15 million.