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Stockholders' Equity (Tables) | 12 Months Ended
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Dec. 31, 2021
Equity [Abstract] |
Schedule of Preferred Stock | The following table summarizes our preferred stock outstanding as of December 31, 2021 and 2020. Table 10.1: Preferred Stock Outstanding(1)
|  |  |  |  |  | Redeemable by Issuer Beginning |  | Per Annum Dividend Rate |  | Dividend Frequency |  | Liquidation Preference per Share |  | Total Shares Outstanding as of December 31, 2021 |  | Carrying Value (in millions)
Series |  | Description |  | Issuance Date |  |  |  |  |  |  | December 31, 2021 |  | December 31, 2020
Series E(2) |  | Fixed-to-Floating Rate Non-Cumulative |  | May 14, 2015 |  | June 1, 2020 |  | 5.550% through 5/31/2020; 3-mo. LIBOR + 380 bps thereafter |  | Semi-Annually through 5/31/2020; Quarterly thereafter |  | $ | 1,000 |  |  | 0 |  | $ | 0 |  |  | $ | 988 |
Series G(3) |  | 5.200% Non-Cumulative |  | July 29, 2016 |  | December 1, 2021 |  | 5.200% |  | Quarterly |  | 1,000 |  |  | 0 |  | 0 |  |  | 583 |
Series H(3) |  | 6.000% Non-Cumulative |  | November 29, 2016 |  | December 1, 2021 |  | 6.000 |  | Quarterly |  | 1,000 |  |  | 0 |  | 0 |  |  | 483 |
Series I |  | 5.000% Non-Cumulative |  | September 11, 2019 |  | December 1, 2024 |  | 5.000 |  | Quarterly |  | 1,000 |  |  | 1,500,000 |  |  | 1,462 |  |  | 1,462 |
Series J |  | 4.800% Non-Cumulative |  | January 31, 2020 |  | June 1, 2025 |  | 4.800 |  | Quarterly |  | 1,000 |  |  | 1,250,000 |  |  | 1,209 |  |  | 1,209 |
Series K |  | 4.625% Non-Cumulative |  | September 17, 2020 |  | December 1, 2025 |  | 4.625 |  | Quarterly |  | 1,000 |  |  | 125,000 |  |  | 122 |  |  | 122 |
Series L |  | 4.375% Non-Cumulative |  | May 4, 2021 |  | September 1, 2026 |  | 4.375 |  | Quarterly |  | 1,000 |  |  | 675,000 |  |  | 652 |  |  | 0 |
Series M |  | 3.950% Fixed Rate Reset Non-Cumulative |  | June 10, 2021 |  | September 1, 2026 |  | 3.950% through 8/31/2026; resets 9/1/2026 and every subsequent 5 year anniversary at 5-Year Treasury Rate +3.157% |  | Quarterly |  | 1,000 |  |  | 1,000,000 |  |  | 988 |  |  | 0 |
Series N |  | 4.250% Non-Cumulative |  | July 29, 2021 |  | September 1, 2026 |  | 4.250% |  | Quarterly |  | 1,000 |  |  | 425,000 |  |  | 412 |  |  | 0 |
Total |  | $ | 4,845 |  |  | $ | 4,847 |
__________ (1)Except for Series M, ownership is held in the form of depositary shares, each representing a 1/40th interest in a share of fixed-rate non-cumulative perpetual preferred stock. (2)On September 1, 2021, we redeemed all outstanding shares of our preferred stock Series E. (3)On December 1, 2021, we redeemed all outstanding shares of our preferred stock Series G and H.
Change in AOCI Gain (Loss) by Component (Net of Tax) | The following table includes the AOCI impacts from the adoption of the CECL standard and the changes in AOCI by component for the years ended December 31, 2021, 2020 and 2019. Table 10.2: AOCI
|  | Year Ended December 31, 2021
(Dollars in millions) |  | Securities Available for Sale |  | Hedging Relationships(1) |  | Foreign Currency Translation Adjustments (2) |  | Securities Held to Maturity |  | Other |  | Total
AOCI as of December 31, 2018 |  | $ | (439) |  |  | $ | (418) |  |  | $ | (177) |  |  | $ | (190) |  |  | $ | (39) |  |  | $ | (1,263) |
Other comprehensive income before reclassifications |  | 670 |  |  | 414 |  |  | 70 |  |  | 0 |  |  | 17 |  |  | 1,171 |
Amounts reclassified from AOCI into earnings |  | (20) |  |  | 358 |  |  | 0 |  |  | 26 |  |  | (4) |  |  | 360 |
Other comprehensive income, net of tax |  | 650 |  |  | 772 |  |  | 70 |  |  | 26 |  |  | 13 |  |  | 1,531 |
Transfer of securities held to maturity to available for sale, net of tax(3) |  | 724 |  | 0 |  | 0 |  | 164 |  | 0 |  | 888
AOCI as of December 31, 2019 |  | 935 |  |  | 354 |  |  | (107) |  |  | 0 |  |  | (26) |  |  | 1,156 |
Cumulative effects from the adoption of the CECL standard |  | (8) |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | (8) |
Other comprehensive income before reclassifications |  | 1,278 |  |  | 1,401 |  |  | 76 |  |  | 0 |  |  | 5 |  |  | 2,760 |
Amounts reclassified from AOCI into earnings |  | (19) |  |  | (393) |  |  | 0 |  |  | 0 |  |  | (2) |  |  | (414) |
Other comprehensive income, net of tax |  | 1,259 |  |  | 1,008 |  |  | 76 |  |  | 0 |  |  | 3 |  |  | 2,346 |
AOCI as of December 31, 2020 |  | 2,186 |  |  | 1,362 |  |  | (31) |  |  | 0 |  |  | (23) |  |  | 3,494 |
Other comprehensive income (loss) before reclassifications |  | (1,887) |  |  | (396) |  |  | 10 |  |  | 0 |  |  | 7 |  |  | (2,266) |
Amounts reclassified from AOCI into earnings |  | (2) |  |  | (848) |  |  | 0 |  |  | 0 |  |  | (4) |  |  | (854) |
Other comprehensive income (loss), net of tax |  | (1,889) |  |  | (1,244) |  |  | 10 |  |  | 0 |  |  | 3 |  |  | (3,120) |
AOCI as of December 31, 2021 |  | $ | 297 |  |  | $ | 118 |  |  | $ | (21) |  |  | $ | 0 |  |  | $ | (20) |  |  | $ | 374 |
__________ (1)Includes amounts related to cash flow hedges as well as the excluded component of cross-currency swaps designated as fair value hedges. (2)Includes other comprehensive gains of $22 million, loss of $65 million and $49 million for the years ended December 31, 2021, 2020 and 2019 respectively, from hedging instruments designated as net investment hedges. (3)On December 31, 2019, we transferred our entire portfolio of held to maturity securities to available for sale in consideration of changes to regulatory capital requirements under the Tailoring Rules.
Reclassifications from AOCI | The following table presents amounts reclassified from each component of AOCI to our consolidated statements of income for the years ended December 31, 2021, 2020 and 2019. Table 10.3: Reclassifications from AOCI
(Dollars in millions) |  |  |  |  |  | Year Ended December 31,
AOCI Components |  | Affected Income Statement Line Item |  |  |  |  |  | 2021 |  | 2020 |  | 2019
Securities available for sale: |  |  |  |  |  |  |  |  |  |  |  |
|  | Non-interest income |  |  |  |  |  | $ | 2 |  |  | $ | 25 |  |  | $ | 26 |
|  | Income tax provision |  |  |  |  |  | 0 |  |  | 6 |  |  | 6 |
|  | Net income |  |  |  |  |  | 2 |  |  | 19 |  |  | 20 |
Hedging relationships: |  |  |  |  |  |  |  |  |  |  |  |
Interest rate contracts: |  | Interest income |  |  |  |  |  | 957 |  |  | 566 |  |  | (171) |
Foreign exchange contracts: |  | Interest income |  |  |  |  |  | 1 |  |  | 10 |  |  | 44 |
|  | Interest expense |  |  |  |  |  | (3) |  |  | (3) |  |  | (2) |
|  | Non-interest income |  |  |  |  |  | 163 |  |  | (57) |  |  | (341) |
|  | Income (loss) from continuing operations before income taxes |  |  |  |  |  | 1,118 |  |  | 516 |  |  | (470) |
|  | Income tax provision (benefit) |  |  |  |  |  | 270 |  |  | 123 |  |  | (112) |
|  | Net income (loss) |  |  |  |  |  | 848 |  |  | 393 |  |  | (358) |
Securities held to maturity:(1) |  |  |  |  |  |  |  |  |  |  |  |
|  | Interest income |  |  |  |  |  | 0 |  |  | 0 |  |  | (35) |
|  | Income tax benefit |  |  |  |  |  | 0 |  |  | 0 |  |  | (9) |
|  | Net income (loss) |  |  |  |  |  | 0 |  |  | 0 |  |  | (26) |
Other: |  |  |  |  |  |  |  |  |  |  |  |
|  | Non-interest income and non-interest expense |  |  |  |  |  | 5 |  |  | 2 |  |  | 5 |
|  | Income tax provision |  |  |  |  |  | 1 |  |  | 0 |  |  | 1 |
|  | Net income |  |  |  |  |  | 4 |  |  | 2 |  |  | 4 |
Total reclassifications |  |  |  |  |  | $ | 854 |  |  | $ | 414 |  |  | $ | (360) |
__________ (1)On December 31, 2019, we transferred our entire portfolio of held to maturity securities to available for sale.
Components of Other Comprehensive Income (Loss) and Related Tax Impact | The table below summarizes other comprehensive income (loss) activity and the related tax impact for the years ended December 31, 2021, 2020 and 2019. Table 10.4: Other Comprehensive Income (Loss)
|  | Year Ended December 31,
|  | 2021 |  | 2020 |  | 2019
(Dollars in millions) |  | Before Tax |  | Provision (Benefit) |  | After Tax |  | Before Tax |  | Provision (Benefit) |  | After Tax |  | Before Tax |  | Provision (Benefit) |  | After Tax
Other comprehensive income (loss): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net unrealized gains (losses) on securities available for sale |  | $ | (2,486) |  |  | $ | (597) |  |  | $ | (1,889) |  |  | $ | 1,659 |  |  | $ | 400 |  |  | $ | 1,259 |  |  | $ | 855 |  |  | $ | 205 |  |  | $ | 650 |
Net unrealized gains (losses) on hedging relationships |  | (1,640) |  |  | (396) |  |  | (1,244) |  |  | 1,329 |  |  | 321 |  |  | 1,008 |  |  | 1,016 |  | 244 |  | 772
Foreign currency translation adjustments(1) |  | 17 |  |  | 7 |  |  | 10 |  |  | 56 |  |  | (20) |  |  | 76 |  |  | 54 |  | (16) |  |  | 70
Net changes in securities held to maturity |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 36 |  | 10 |  | 26
Other |  | 4 |  |  | 1 |  |  | 3 |  |  | 4 |  |  | 1 |  |  | 3 |  |  | 17 |  |  | 4 |  |  | 13 |
Other comprehensive income (loss) |  | $ | (4,105) |  |  | $ | (985) |  |  | $ | (3,120) |  |  | $ | 3,048 |  |  | $ | 702 |  |  | $ | 2,346 |  |  | $ | 1,978 |  |  | $ | 447 |  |  | $ | 1,531 |
__________ (1)Includes the impact of hedging instruments designated as net investment hedges.

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