Parent Company Financial Information (Tables)

12 Months Ended

Dec. 31, 2022

Condensed Financial Information Disclosure [Abstract]

Parent Company Condensed Balance Sheet

Parent Company - Condensed Balance Sheets (Dollars in millions)	December 31,
	2022		2021
Assets:
Cash and due from banks	$	29	$	598
Interest-bearing deposits with banks	10,861		9,680
AFS securities at fair value	214		257
Advances to / receivables from subsidiaries:
Banking	2,305		2,006
Nonbank	404		3,377
Total advances to / receivables from subsidiaries	2,709		5,383
Investment in subsidiaries:
Banking	59,921		64,985
Nonbank	4,553		5,441
Total investment in subsidiaries	64,474		70,426
Other assets	452		419
Total assets	$	78,739	$	86,763
Liabilities and Shareholders’ Equity:
Short-term borrowings	$	370	$	809
Long-term debt	17,625		16,504
Other liabilities	230		179
Total liabilities	18,225		17,492
Total shareholders’ equity	60,514		69,271
Total liabilities and shareholders’ equity	$	78,739	$	86,763

Parent Company Condensed Income and Comprehensive Income Statement

Parent Company - Condensed Income and Comprehensive Income Statements (Dollars in millions)	Year Ended December 31,
	2022		2021		2020
Income:
Dividends from subsidiaries:
Banking	$	4,800	$	4,150	$	2,800
Nonbank	170		100		5
Total dividends from subsidiaries	4,970		4,250		2,805
Interest and other income from subsidiaries	100		143		170
Other income	27		(26)		12
Total income	5,097		4,367		2,987
Expenses:
Interest expense	369		258		333
Other expenses	131		125		174
Total expenses	500		383		507
Income before income taxes and equity in undistributed earnings of subsidiaries	4,597		3,984		2,480
Income tax benefit	50		26		56
Income before equity in undistributed earnings of subsidiaries	4,647		4,010		2,536
Equity in undistributed earnings of subsidiaries in excess of dividends from subsidiaries	1,620		2,427		1,956
Net income	6,267		6,437		4,492
Total OCI	(11,997)		(2,320)		1,560
Total comprehensive income	$	(5,730)	$	4,117	$	6,052

Parent Company Condensed Cash Flow Statement

Parent Company - Statements of Cash Flows (Dollars in millions)	Year Ended December 31,
	2022		2021		2020
Cash Flows From Operating Activities:
Net income	$	6,267	$	6,437	$	4,492
Adjustments to reconcile net income to net cash from operating activities:
Equity in earnings of subsidiaries in excess of dividends from subsidiaries	(1,620)		(2,427)		(1,956)
Other, net	(449)		(438)		(704)
Net cash from operating activities	4,198		3,572		1,832
Cash Flows From Investing Activities:
Proceeds from maturities, calls, and paydowns of AFS securities	31		37		79
Purchases of AFS securities	(9)		(216)		(22)
Investment in subsidiaries	(4,142)		(120)		(79)
Advances to subsidiaries	(4,110)		(3,088)		(6,711)
Proceeds from repayment of advances to subsidiaries	6,813		3,922		5,499
Other, net	14		—		14
Net cash from investing activities	(1,403)		535		(1,220)
Cash Flows From Financing Activities:
Net change in short-term borrowings	(439)		188		18
Net issuance (repayment) of long-term debt	1,700		(2,149)		397
Repurchase of common stock	(250)		(1,616)		—
Net proceeds from preferred stock issued	—		—		3,449
Redemption of preferred stock	—		(1,415)		(500)
Cash dividends paid on common and preferred stock	(2,989)		(2,852)		(2,725)
Other, net	(205)		(107)		479
Net cash from financing activities	(2,183)		(7,951)		1,118
Net Change in Cash and Cash Equivalents	612		(3,844)		1,730
Cash and Cash Equivalents, January 1	10,278		14,122		12,392
Cash and Cash Equivalents, December 31	$	10,890	$	10,278	$	14,122