Benefit Plans (Tables)
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12 Months Ended |
Dec. 31, 2018 |
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| Retirement Benefits [Abstract] |
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| Components of Net Periodic Benefit Cost |
Financial data relative to qualified and nonqualified defined benefit pension plans is summarized in the following tables for the years indicated. On the Consolidated Balance Sheets, the qualified pension plan prepaid asset is recorded as a component of other assets and the nonqualified pension plans accrued liability is recorded as a component of other liabilities. The data is calculated using an actuarial measurement date of December 31. | | | | | | | | | | | | | | | Year Ended December 31, (Dollars in millions) | Location | | 2018 | | 2017 | | 2016 | Net periodic pension cost: | | | | | | | | Service cost | Personnel expense | | $ | 238 |
| | $ | 200 |
| | $ | 186 |
| Interest cost | Other expense | | 201 |
| | 192 |
| | 181 |
| Estimated return on plan assets | Other expense | | (448 | ) | | (372 | ) | | (326 | ) | Net amortization and other | Other expense | | 81 |
| | 75 |
| | 80 |
| Net periodic benefit cost | | | 72 |
| | 95 |
| | 121 |
| Pre-tax amounts recognized in OCI: | | | |
| | |
| | |
| Prior service credit (cost) | | | — |
| | 30 |
| | — |
| Net actuarial loss (gain) | | | 289 |
| | 137 |
| | 138 |
| Net amortization | | | (81 | ) | | (75 | ) | | (80 | ) | Net amount recognized in OCI | | | 208 |
| | 92 |
| | 58 |
| Total net periodic pension costs (income) recognized in total comprehensive income, pre-tax | | | $ | 280 |
| | $ | 187 |
| | $ | 179 |
| Weighted average assumptions used to determine net periodic pension cost: | | | | | | | Discount rate | | | 3.79 | % | | 4.43 | % | | 4.68 | % | Expected long-term rate of return on plan assets | | | 7.00 | % | | 7.00 | % | | 7.00 | % | Assumed long-term rate of annual compensation increases | | | 4.50 | % | | 4.50 | % | | 4.50 | % |
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| Schedule of Changes in Projected Benefit Obligations [Table Text Block] |
Activity in the projected benefit obligation is presented in the following table: | | | | | | | | | | | | | | | | | Year Ended December 31, (Dollars in millions) | Qualified Plan | | Nonqualified Plans | 2018 | | 2017 | | 2018 | | 2017 | Projected benefit obligation, January 1 | $ | 4,939 |
| | $ | 3,939 |
| | $ | 387 |
| | $ | 426 |
| Service cost | 222 |
| | 188 |
| | 16 |
| | 12 |
| Interest cost | 186 |
| | 173 |
| | 15 |
| | 19 |
| Actuarial (gain) loss | (537 | ) | | 576 |
| | (19 | ) | | 77 |
| Benefits paid | (113 | ) | | (102 | ) | | (13 | ) | | (12 | ) | Plan amendments | — |
| | 165 |
| | — |
| | (135 | ) | Projected benefit obligation, December 31 | $ | 4,697 |
| | $ | 4,939 |
| | $ | 386 |
| | $ | 387 |
| Accumulated benefit obligation, December 31 | $ | 4,035 |
| | $ | 4,198 |
| | $ | 293 |
| | $ | 288 |
| Weighted average assumptions used to determine projected benefit obligations: | | | | | | | Weighted average assumed discount rate | 4.43 | % | | 3.79 | % | | 4.43 | % | | 3.79 | % | Assumed rate of annual compensation increases | 4.50 | % | | 4.50 | % | | 4.50 | % | | 4.50 | % |
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| Schedule of Changes in Fair Value of Plan Assets [Table Text Block] |
Activity in plan assets is presented in the following table: | | | | | | | | | | | | | | | | | | Year Ended December 31, (Dollars in millions) | | Qualified Plan | | Nonqualified Plans | | 2018 | | 2017 | | 2018 | | 2017 | Fair value of plan assets, January 1 | | $ | 6,309 |
| | $ | 5,044 |
| | $ | — |
| | $ | — |
| Actual return on plan assets | | (397 | ) | | 888 |
| | — |
| | — |
| Employer contributions | | 169 |
| | 479 |
| | 13 |
| | 13 |
| Benefits paid | | (113 | ) | | (102 | ) | | (13 | ) | | (13 | ) | Fair value of plan assets, December 31 | | $ | 5,968 |
| | $ | 6,309 |
| | $ | — |
| | $ | — |
| Funded status, December 31 | | $ | 1,271 |
| | $ | 1,370 |
| | $ | (386 | ) | | $ | (387 | ) |
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| Schedule of Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block] |
The following are the pre-tax amounts recognized in AOCI: | | | | | | | | | | | | | | | | | | Year Ended December 31, (Dollars in millions) | | Qualified Plan | | Nonqualified Plans | | 2018 | | 2017 | | 2018 | | 2017 | Prior service credit (cost) | | $ | (140 | ) | | $ | (165 | ) | | $ | 115 |
| | $ | 134 |
| Net actuarial loss | | (1,349 | ) | | (1,092 | ) | | (156 | ) | | (198 | ) | Net amount recognized | | $ | (1,489 | ) | | $ | (1,257 | ) | | $ | (41 | ) | | $ | (64 | ) |
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| Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year [Table Text Block] |
The following table presents the amount expected to be amortized from AOCI into net periodic pension cost during 2019: | | | | | | | | | | (Dollars in millions) | | Qualified Plan | | Nonqualified Plans | Net actuarial loss | | $ | (79 | ) | | $ | (17 | ) | Prior service credit (cost) | | (25 | ) | | $ | 19 |
| Net amount expected to be amortized | | $ | (104 | ) | | $ | 2 |
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| Schedule of Expected Benefit Payments [Table Text Block] |
The following table reflects the estimated benefit payments for the periods presented: | | | | | | | | | | (Dollars in millions) | | Qualified Plan | | Nonqualified Plans | 2019 | | $ | 126 |
| | $ | 16 |
| 2020 | | 138 |
| | 16 |
| 2021 | | 151 |
| | 17 |
| 2022 | | 165 |
| | 18 |
| 2023 | | 179 |
| | 19 |
| 2024-2028 | | 1,126 |
| | 113 |
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| Schedule of Allocation of Plan Assets [Table Text Block] |
BB&T periodically reviews its asset allocation and investment policy and makes changes to its target asset allocation. BB&T has established guidelines within each asset category to ensure the appropriate balance of risk and reward. The fair values of pension plan assets by asset category for the qualified plan are reflected in the table below. Amounts carried using net asset values and accrued income are excluded from the table. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, (Dollars in millions) | Target Allocation | | 2018 | | 2017 | Min | | Max | | Total | | Level 1 | | Level 2 | | Total | | Level 1 | | Level 2 | Cash and cash-equivalents | | | | | $ | 21 |
| | $ | 21 |
| | $ | — |
| | $ | 67 |
| | $ | 67 |
| | $ | — |
| U.S. equity securities (1) | 30 | % | | 50 | % | | 2,323 |
| | 1,204 |
| | 1,119 |
| | 2,503 |
| | 1,333 |
| | 1,170 |
| International equity securities | 11 |
| | 18 |
| | 797 |
| | 161 |
| | 636 |
| | 1,130 |
| | 195 |
| | 935 |
| Fixed income securities | 35 |
| | 53 |
| | 2,528 |
| | 11 |
| | 2,517 |
| | 2,452 |
| | 10 |
| | 2,442 |
| Total | | | | | $ | 5,669 |
| | $ | 1,397 |
| | $ | 4,272 |
| | $ | 6,152 |
| | $ | 1,605 |
| | $ | 4,547 |
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| | (1) | The plan may hold up to 10% of its assets in BB&T common stock. |
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