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Parent Company (Tables) | 12 Months Ended
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Dec. 31, 2020
Condensed Financial Information Disclosure [Abstract] |
Income Statement - Parent Company | Summarized financial information of the parent company is as follows: Table 110: Parent Company - Income Statement
Year ended December 31 – in millions | 2020 |  | 2019 |  | 2018
Operating Revenue |  |  |  |  |
Dividends from: |  |  |  |  |
Bank subsidiaries and bank holding company | $ | 13,701 |  |  | $ | 3,570 |  |  | $ | 2,639 |
Non-bank subsidiaries | 300 |  |  | 170 |  |  | 157 |
Interest income | 38 |  |  | 169 |  |  | 147 |
Noninterest income | 37 |  |  | 48 |  |  | (1) |
Total operating revenue | 14,076 |  |  | 3,957 |  |  | 2,942 |
Operating Expense |  |  |  |  |
Interest expense | 179 |  |  | 325 |  |  | 281 |
Other expense | 91 |  |  | 146 |  |  | 139 |
Total operating expense | 270 |  |  | 471 |  |  | 420 |
Income before income taxes and equity in undistributed net income of subsidiaries | 13,806 |  |  | 3,486 |  |  | 2,522 |
Equity in undistributed net income of subsidiaries: |  |  |  |  |
Bank subsidiaries and bank holding company | (12,009) |  |  | 671 |  |  | 1,602 |
Non-bank subsidiaries | (86) |  |  | 164 |  |  | 181 |
Income from continuing operations before taxes | 1,711 |  |  | 4,321 |  |  | 4,305 |
Income tax benefit from continuing operations | $ | (1,251) |  |  | (221) |  |  | (208) |
Net income from continuing operations | 2,962 |  |  | 4,542 |  |  | 4,513 |
Dividends from discontinued operations |  |  |  |  |
Bank subsidiaries and bank holding company | 126 |  |  | 460 |  |  | 418 |
Equity in undistributed net income of subsidiaries from discontinued operations: |  |  |  |  |
Bank subsidiaries and bank holding company | 5,651 |  |  | 528 |  |  | 524 |
Income from discontinued operations before taxes | 5,777 |  |  | 988 |  |  | 942 |
Income taxes from discontinued operations | 1,222 |  |  | 161 |  |  | 154 |
Net income from discontinued operations | 4,555 |  |  | 827 |  |  | 788 |
Net income | $ | 7,517 |  |  | $ | 5,369 |  |  | $ | 5,301 |
Other comprehensive income, net of tax: |  |  |  |  |
Net pension and other postretirement benefit plan activity arising during the period | 1 |  |  | (2) |  |  | 1 |
Other comprehensive income (loss) | 1 |  |  | (2) |  |  | 1 |
Comprehensive income | $ | 7,518 |  |  | $ | 5,367 |  |  | $ | 5,302 |
Balance Sheet - Parent company | Table 111: Parent Company - Balance Sheet
December 31 – in millions | 2020 |  | 2019
Assets |  |  |
Cash held at banking subsidiary | $ | 14,882 |  |  | $ | 6 |
Restricted deposits with banking subsidiary | 175 |  |  | 175 |
Nonrestricted interest-earning deposits |  |  | 7,024 |
Investments in: |  |  |
Bank subsidiaries and bank holding company | 45,992 |  |  | 41,882 |
Non-bank subsidiaries | 1,984 |  |  | 2,054 |
Net investment held for sale |  |  | 6,772 |
Loans with affiliates | 1,021 |  |  | 730 |
Other assets | 1,934 |  |  | 1,512 |
Total assets | $ | 65,988 |  |  | $ | 60,155 |
Liabilities |  |  |
Subordinated debt (a) | $ | 1,010 |  |  | $ | 986 |
Senior debt (a) | 9,567 |  |  | 8,849 |
Other borrowed funds from affiliates | 780 |  |  | 307 |
Accrued expenses and other liabilities | 621 |  |  | 699 |
Total liabilities | 11,978 |  |  | 10,841 |
Equity |  |  |
Shareholders’ equity | 54,010 |  |  | 49,314 |
Total liabilities and equity | $ | 65,988 |  |  | $ | 60,155 |
(a)See Note 10 Borrowed Funds for additional information on contractual rates and maturity dates of senior debt and subordinated debt for parent company.
Interest Paid and Income Tax Refunds (Payments) - Parent company | Table 112: Parent Company - Interest Paid and Income Tax Refunds (Payments)
Year ended December 31 – in millions |  | Interest Paid |  | Income Tax Refunds/(Payments)
2020 |  | $ | 335 |  |  | $ | 29 |
2019 |  | $ | 300 |  |  | $ | 26 |
2018 |  | $ | 288 |  |  | $ | 88 |
Statement of Cash Flows - Parent company | Table 113: Parent Company - Statement of Cash Flows
Year ended December 31 – in millions | 2020 |  | 2019 |  | 2018
Operating Activities |  |  |  |  |
Net income | $ | 7,517 |  |  | $ | 5,369 |  |  | $ | 5,301 |
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |
Equity in undistributed net earnings of subsidiaries |  |  | (1,363) |  |  | (2,307) |
Return on investment in subsidiaries | 6,444 |  |  |  |  |
Other | 237 |  |  | 218 |  |  | 155 |
Net cash provided (used) by operating activities | $ | 14,198 |  |  | $ | 4,224 |  |  | $ | 3,149 |
Investing Activities |  |  |  |  |
Net change in loans and securities from affiliates | $ | (2,808) |  |  | $ | 664 |  |  | $ | 540 |
Net change in nonrestricted interest-earning deposits | 7,024 |  |  | (2,369) |  |  | 1,145 |
Other |  |  | (8) |  |  | 2 |
Net cash provided (used) by investing activities | $ | 4,216 |  |  | $ | (1,713) |  |  | $ | 1,687 |
Financing Activities |  |  |  |  |
Net change in other borrowed funds from affiliates | $ | 473 |  |  | $ | 228 |  |  | $ | (29) |
Proceeds from long-term borrowings | 1,986 |  |  | 4,180 |  |  | 498 |
Repayments of long-term borrowings | (1,750) |  |  | (1,300) |  |  | (553) |
Net change in commercial paper |  |  |  |  | (100) |
Preferred stock redemptions | (480) |  |  |  |  |
Common and treasury stock issuances | 65 |  |  | 90 |  |  | 69 |
Acquisition of treasury stock | (1,624) |  |  | (3,578) |  |  | (2,877) |
Preferred stock cash dividends paid | (229) |  |  | (236) |  |  | (236) |
Common stock cash dividends paid | (1,979) |  |  | (1,895) |  |  | (1,603) |
Net cash provided (used) by financing activities | $ | (3,538) |  |  | $ | (2,511) |  |  | $ | (4,831) |
Net increase (decrease) in cash and due from banks | $ | 14,876 |  |  |  |  | $ | 5 |
Net cash provided by operating activities of discontinued operations | 11,542 |  |  | 299 |  |  | 264 |
Net cash activity from continuing operations | 3,334 |  |  | (299) |  |  | (259) |
Cash and restricted deposits held at banking subsidiary at beginning of year | 181 |  |  | 181 |  |  | 176 |
Cash and restricted deposits held at banking subsidiary at end of year | $ | 15,057 |  |  | $ | 181 |  |  | $ | 181 |

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