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Income Taxes (Tables)
12 Months Ended
Dec. 31, 2022
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Provision The components of the income tax provision are as follows:
Year Ended December 31,
(Dollars in millions)202220212020
Current expense:   
Federal$930 $1,113 $979 
State115 91 155 
Total current expense1,045 1,204 1,134 
Deferred expense:
Federal302 235 (131)
State55 117 (22)
Total deferred expense357 352 (153)
Provision for income taxes$1,402 $1,556 $981 
Schedule of Reconciliation Between Provision for Income Taxes and Amount Computed by Applying Federal Statutory Income Tax Rate A reconciliation of the provision for income taxes at the statutory federal income tax rate to the Company’s actual provision for income taxes and effective tax rate is presented in the following table:
Year Ended December 31,
202220212020
(Dollars in millions)Amount% of Income Before TaxesAmount% of Income Before TaxesAmount% of Income Before Taxes
Federal income taxes at statutory rate$1,611 21.0 %$1,679 21.0 %$1,149 21.0 %
Increase (decrease) in provision for income taxes as a result of:
State income taxes, net of federal tax benefit134 1.7 164 2.1 105 1.9 
Income tax credits, net of amortization(233)(3.0)(195)(2.4)(178)(3.3)
Tax-exempt interest(109)(1.4)(86)(1.1)(99)(1.8)
Other, net(1)— (6)(0.1)0.1 
Provision for income taxes$1,402 18.3 $1,556 19.5 $981 17.9 
Schedule of Deferred Tax Assets and Liabilities Significant DTAs and DTLs, net of the federal impact for state taxes, are presented in the following table:
December 31,
(Dollars in millions)
20222021
DTAs:  
Net unrealized losses in AOCI$4,150 $488 
ALLL1,022 1,033 
Employee compensation and benefits765 819 
Operating lease liability372 389 
Accruals and reserves207 245 
Federal and state NOLs and other carryforwards125 113 
Loans— 53 
Other190 59 
Total gross DTAs6,831 3,199 
Valuation allowance(106)(105)
Total DTAs net of valuation allowance6,725 3,094 
DTLs:
Pension1,532 1,416 
Goodwill and other intangible assets686 630 
Equipment and auto leasing422 465 
MSRs345 360 
ROU assets283 280 
Loans279 — 
Other151 173 
Total DTLs3,698 3,324 
Net DTA (DTL)$3,027 $(230)
Summary of Income Tax Contingencies The following table provides a rollforward of the Company’s gross federal and state UTBs, excluding interest and penalties:
(Dollars in millions)Dec 31, 2022Dec 31, 2021
Balance, January 1$104 $133 
Increases in UTBs related to prior years
Decreases in UTBs related to prior years(2)(16)
Increases in UTBs related to the current year
Decreases in UTBs related to settlements(4)(14)
Decreases in UTBs related to lapse of the applicable statues of limitations(12)(10)
Balance, December 31$97 $104