XML 44 R33.htm IDEA: XBRL DOCUMENT
v3.25.3

Stockholders' Equity (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2025
Equity [Abstract] |
Schedule of Preferred Stock | The following table summarizes the terms of the preferred stock issued as part of the Transaction. Table 2.1: Summary of Preferred Stock Terms
|  |  |  |  |  | Redeemable by Issuer Beginning |  | Per Annum Dividend Rate |  | Dividend Frequency |  | Liquidation Preference per Share |  | Total Shares Issued
Series |  | Description |  | Issuance Date |  |  |  |  |
Series O |  | Fixed-to-Floating Rate Non-Cumulative |  | May 18, 2025 |  | October 30, 2027 |  | 5.500% through 10/29/2027; resets 10/30/2027 and every quarter thereafter at three-month term SOFR + 3.338% |  | Semi-Annually through 10/30/2027;Quarterly thereafter |  | 100,000 |  |  | 5,700 |
Series P(1) |  | 6.125% Fixed- Rate Reset Non-Cumulative |  | May 18, 2025 |  | June 23, 2025 |  | 6.125% through 9/22/2025; resets 9/23/2025 and every subsequent 5 year anniversary at 5-Year Treasury Rate +5.783% |  | Semi-Annually |  | 100,000 |  |  | 5,000 |
________ (1)Series P was fully redeemed on June 30, 2025. See “Item 2. MD&A—Capital Management” for additional information. The following table summarizes our preferred stock outstanding as of September 30, 2025 and December 31, 2024. 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 September 30, 2025 |  | Carrying Value (in millions)
Series |  | Description |  | Issuance Date |  |  |  |  |  |  | September 30, 2025 |  | December 31, 2024
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 |  |  | 652 |
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 |  |  | 988 |
Series N |  | 4.250% Non-Cumulative |  | July 29, 2021 |  | September 1, 2026 |  | 4.250% |  | Quarterly |  | 1,000 |  |  | 425,000 |  |  | 412 |  |  | 412 |
Series O |  | Fixed-to-Floating Rate Non-Cumulative |  | May 18, 2025 |  | October 30, 2027 |  | 5.500% through 10/29/2027; resets 10/30/2027 and every quarter thereafter at three-month term SOFR + 3.338% |  | Semi-Annually through 10/30/2027;Quarterly thereafter |  | 100,000 |  |  | 5,700 |  |  | 562 |  |  | N/A
Total |  | $ | 5,407 |  |  | $ | 4,845 |
__________ (1)For Series I, J, K, L, and N, ownership is held in the form of depositary shares, each representing a 1/40th interest in a share of non-cumulative perpetual preferred stock. For Series O, ownership is held in the form of depositary shares, each representing a 1/100th interest in a share of non-cumulative perpetual preferred stock.
Change in AOCI Gain (Loss) by Component (Net of Tax) | The following table presents the changes in AOCI by component for the three and nine months ended September 30, 2025 and 2024. Table 10.2: AOCI
|  | Three Months Ended September 30, 2025
(Dollars in millions) |  | Securities Available for Sale |  | Hedging Relationships(1) |  | Foreign Currency Translation Adjustments(2) |  |  |  | Other |  | Total
AOCI as of June 30, 2025 |  | $ | (6,219) |  |  | $ | (658) |  |  | $ | 83 |  |  |  |  | $ | (25) |  |  | $ | (6,819) |
Other comprehensive income (loss) before reclassifications |  | 769 |  |  | 34 |  |  | (16) |  |  |  |  | 0 |  |  | 787 |
Amounts reclassified from AOCI into earnings |  | 0 |  |  | 115 |  |  | 0 |  |  |  |  | 0 |  |  | 115 |
Other comprehensive income (loss), net of tax |  | 769 |  |  | 149 |  |  | (16) |  |  |  |  | 0 |  |  | 902 |
AOCI as of September 30, 2025 |  | $ | (5,450) |  |  | $ | (509) |  |  | $ | 67 |  |  |  |  | $ | (25) |  |  | $ | (5,917) |
|  | Nine Months Ended September 30, 2025
(Dollars in millions) |  | Securities Available for Sale |  | Hedging Relationships(1) |  | Foreign Currency Translation Adjustments(2) |  |  |  | Other |  | Total
AOCI as of December 31, 2024 |  | $ | (7,544) |  |  | $ | (1,720) |  |  | $ | 3 |  |  |  |  | $ | (25) |  |  | $ | (9,286) |
Other comprehensive income (loss) before reclassifications |  | 2,094 |  |  | 631 |  |  | 64 |  |  |  |  | 0 |  |  | 2,789 |
Amounts reclassified from AOCI into earnings |  | 0 |  |  | 580 |  |  | 0 |  |  |  |  | 0 |  |  | 580 |
Other comprehensive income (loss), net of tax |  | 2,094 |  |  | 1,211 |  |  | 64 |  |  |  |  | 0 |  |  | 3,369 |
AOCI as of September 30, 2025 |  | $ | (5,450) |  |  | $ | (509) |  |  | $ | 67 |  |  |  |  | $ | (25) |  |  | $ | (5,917) |
|  | Three Months Ended September 30, 2024
(Dollars in millions) |  | Securities Available for Sale |  | Hedging Relationships(1) |  | Foreign Currency Translation Adjustments(2) |  |  |  | Other |  | Total
AOCI as of June 30, 2024 |  | $ | (7,797) |  |  | $ | (1,885) |  |  | $ | 12 |  |  |  |  | $ | (31) |  |  | $ | (9,701) |
Other comprehensive income (loss) before reclassifications |  | 2,274 |  |  | 791 |  |  | 45 |  |  |  |  | 0 |  |  | 3,110 |
Amounts reclassified from AOCI into earnings |  | 26 |  |  | 278 |  |  | 0 |  |  |  |  | 0 |  |  | 304 |
Other comprehensive income (loss), net of tax |  | 2,300 |  |  | 1,069 |  |  | 45 |  |  |  |  | 0 |  |  | 3,414 |
AOCI as of September 30, 2024 |  | $ | (5,497) |  |  | $ | (816) |  |  | $ | 57 |  |  |  |  | $ | (31) |  |  | $ | (6,287) |
|  | Nine Months Ended September 30, 2024
(Dollars in millions) |  | Securities Available for Sale |  | Hedging Relationships(1) |  | Foreign Currency Translation Adjustments(2) |  |  |  | Other |  | Total
AOCI as of December 31, 2023 |  | $ | (6,769) |  |  | $ | (1,493) |  |  | $ | 26 |  |  |  |  | $ | (32) |  |  | $ | (8,268) |
Other comprehensive income (loss) before reclassifications |  | 1,246 |  |  | (21) |  |  | 31 |  |  |  |  | 1 |  |  | 1,257 |
Amounts reclassified from AOCI into earnings |  | 26 |  |  | 698 |  |  | 0 |  |  |  |  | 0 |  |  | 724 |
Other comprehensive income, net of tax |  | 1,272 |  |  | 677 |  |  | 31 |  |  |  |  | 1 |  |  | 1,981 |
AOCI as of September 30, 2024 |  | $ | (5,497) |  |  | $ | (816) |  |  | $ | 57 |  |  |  |  | $ | (31) |  |  | $ | (6,287) |
__________ (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 $96 million and losses of $202 million for the three and nine months ended September 30, 2025, respectively, and other comprehensive losses of $134 million and $72 million for the three and nine months ended September 30, 2024, respectively, from hedging instruments designated as net investment hedges.
Reclassifications from AOCI | The following table presents amounts reclassified from each component of AOCI to our consolidated statements of income for the three and nine months ended September 30, 2025 and 2024. Table 10.3: Reclassifications from AOCI
(Dollars in millions) |  |  |  | Three Months Ended September 30, |  | Nine Months Ended September 30,
AOCI Components |  | Affected Income Statement Line Item |  | 2025 |  | 2024 |  | 2025 |  | 2024 |  |
Securities available for sale: |  |  |  |  |  |  |  |  |  |  |  |
|  | Non-interest income (expense) |  | $ | 0 |  |  | $ | (34) |  |  | $ | 0 |  |  | $ | (34) |  |  |
|  | Income tax provision (benefit) |  | 0 |  |  | (8) |  |  | 0 |  |  | (8) |  |  |
|  | Net income (loss) |  | 0 |  |  | (26) |  |  | 0 |  |  | (26) |  |  |
Hedging relationships: |  |  |  |  |  |  |  |  |  |  |  |
Interest rate contracts: |  | Interest income (expense) |  | (240) |  |  | (314) |  |  | (718) |  |  | (936) |  |  |
Foreign exchange contracts: |  | Interest income |  | 4 |  |  | 2 |  |  | 9 |  |  | 7 |  |  |
|  | Interest income (expense) |  | 0 |  |  | 0 |  |  | (1) |  |  | 7 |  |  |
|  | Non-interest income (expense) |  | 83 |  |  | (56) |  |  | (62) |  |  | (1) |  |  |
|  | Income (loss) from continuing operations before income taxes |  | (153) |  |  | (368) |  |  | (772) |  |  | (923) |  |  |
|  | Income tax provision (benefit) |  | (38) |  |  | (90) |  |  | (192) |  |  | (225) |  |  |
|  | Net income (loss) |  | (115) |  |  | (278) |  |  | (580) |  |  | (698) |  |  |
Other: |  |  |  |  |  |  |  |  |  |  |  |
|  | Non-interest income and non-interest expense |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  |
|  | Income tax provision (benefit) |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  |
|  | Net income (loss) |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  |
Total reclassifications |  | $ | (115) |  |  | $ | (304) |  |  | $ | (580) |  |  | $ | (724) |  |  |
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 three and nine months ended September 30, 2025 and 2024. Table 10.4: Other Comprehensive Income (Loss)
|  | Three Months Ended September 30, |  |  |  |  |  |
|  | 2025 |  | 2024 |  |
(Dollars in millions) |  | Before Tax |  | Provision (Benefit) |  | After Tax |  | Before Tax |  | Provision (Benefit) |  | After Tax |  |  |  |  |  |
Other comprehensive income (loss): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net unrealized gains on securities available for sale |  | $ | 1,022 |  |  | $ | 253 |  |  | $ | 769 |  |  | $ | 3,033 |  |  | $ | 733 |  |  | $ | 2,300 |  |  |  |  |  |  |
Net unrealized gains on hedging relationships |  | 199 |  |  | 50 |  |  | 149 |  |  | 1,412 |  |  | 343 |  |  | 1,069 |  |  |  |  |  |  |
Foreign currency translation adjustments(1) |  | 17 |  |  | 33 |  |  | (16) |  |  | 2 |  |  | (43) |  |  | 45 |  |  |  |  |  |  |
Other |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  | 0 |  |  |  |  |  |  |
Other comprehensive income |  | $ | 1,238 |  |  | $ | 336 |  |  | $ | 902 |  |  | $ | 4,447 |  |  | $ | 1,033 |  |  | $ | 3,414 |  |  |  |  |  |  |
|  | Nine Months Ended September 30,
|  | 2025 |  | 2024 |  |
(Dollars in millions) |  | Before Tax |  | Provision (Benefit) |  | After Tax |  | Before Tax |  | Provision (Benefit) |  | After Tax |  |  |  |  |  |
Other comprehensive income (loss): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net unrealized gains on securities available for sale |  | $ | 2,775 |  |  | $ | 681 |  |  | $ | 2,094 |  |  | $ | 1,674 |  |  | $ | 402 |  |  | $ | 1,272 |  |  |  |  |  |  |
Net unrealized gains on hedging relationships |  | 1,603 |  |  | 392 |  |  | 1,211 |  |  | 894 |  |  | 217 |  |  | 677 |  |  |  |  |  |  |
Foreign currency translation adjustments(1) |  | 2 |  |  | (62) |  |  | 64 |  |  | 8 |  |  | (23) |  |  | 31 |  |  |  |  |  |  |
Other |  | 0 |  |  | 0 |  |  | 0 |  |  | 1 |  |  | 0 |  |  | 1 |  |  |  |  |  |  |
Other comprehensive income |  | $ | 4,380 |  |  | $ | 1,011 |  |  | $ | 3,369 |  |  | $ | 2,577 |  |  | $ | 596 |  |  | $ | 1,981 |  |  |  |  |  |  |
__________ (1)Includes the impact of hedging instruments designated as net investment hedges.

X
- References No definition available. + Details
Name: | us-gaap_EquityAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information about items reclassified out of accumulated other comprehensive income (loss). + References No definition available. + Details
Name: | us-gaap_ReclassificationOutOfAccumulatedOtherComprehensiveIncomeTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of accumulated other comprehensive income (loss). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 14A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482790/220-10-45-14A Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 830 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481674/830-30-50-1 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 830 -SubTopic 30 -Name Accounting Standards Codification -Section 45 -Paragraph 20 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481694/830-30-45-20 + Details
Name: | us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the net gain (loss) and net prior service cost or credit recognized in other comprehensive income (loss) for the period for pension plans and/or other employee benefit plans, and reclassification adjustments of other comprehensive income (loss) for the period, as those amounts, including amortization of the net transition asset or obligation, are recognized as components of net periodic benefit cost. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Subparagraph (h) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-5 + Details
Name: | us-gaap_ScheduleOfAmountsRecognizedInOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of an entity's stock, including par or stated value per share, number and dollar amount of share subscriptions, shares authorized, shares issued, shares outstanding, number and dollar amount of shares held in an employee trust, dividend per share, total dividends, share conversion features, par value plus additional paid in capital, the value of treasury stock and other information necessary to a fair presentation, and EPS information. Stock by class includes common, convertible, and preferred stocks which are not redeemable or redeemable solely at the option of the issuer. Includes preferred stock with redemption features that are solely within the control of the issuer and mandatorily redeemable stock if redemption is required to occur only upon liquidation or termination of the reporting entity. If more than one issue is outstanding, state the title of each issue and the corresponding dollar amount; dollar amount of any shares subscribed but unissued and the deduction of subscriptions receivable there from; number of shares authorized, issued, and outstanding. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(27)) -SubTopic 10 -Topic 210 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(28)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(29)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-3 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-4 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-5 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481142/505-10-45-2 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-10 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-8 Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-6 Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-7 + Details
Name: | us-gaap_ScheduleOfStockByClassTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration