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Parent Company (Tables) | 12 Months Ended
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Dec. 31, 2023
Condensed Financial Information Disclosure [Abstract] |
Income Statement - Parent Company | Summarized financial information of the parent company is as follows: Table 108: Parent Company - Income Statement
Year ended December 31 In millions | 2023 |  | 2022 |  | 2021
Operating Revenue |  |  |  |  |
Dividends from: |  |  |  |  |
Bank subsidiaries and bank holding company | $ | 2,500 |  |  | $ | 3,925 |  |  | $ | 3,980 |
Non-bank subsidiaries | 565 |  |  | 280 |  |  | 424 |
Interest income | 638 |  |  | 104 |  |  | 15 |
Noninterest income (loss) | 41 |  |  | (37) |  |  | 41 |
Total operating revenue | 3,744 |  |  | 4,272 |  |  | 4,460 |
Operating Expense |  |  |  |  |
Interest expense | 1,269 |  |  | 326 |  |  | 129 |
Other expense | 185 |  |  | 136 |  |  | 245 |
Total operating expense | 1,454 |  |  | 462 |  |  | 374 |
Income before income taxes and equity in undistributed net income of subsidiaries | 2,290 |  |  | 3,810 |  |  | 4,086 |
Equity in undistributed net income of subsidiaries: |  |  |  |  |
Bank subsidiaries and bank holding company | 3,337 |  |  | 1,848 |  |  | 1,085 |
Non-bank subsidiaries | (161) |  |  | 455 |  |  | 543 |
Income before taxes | 5,466 |  |  | 6,113 |  |  | 5,714 |
Income tax expense (benefit) | (112) |  |  | 72 |  |  | 41 |
Net income | 5,578 |  |  | 6,041 |  |  | 5,673 |
Other comprehensive income, net of tax: |  |  |  |  |
Net pension and other postretirement benefit plan activity arising during the period | 2 |  |  | 1 |  |  | 11 |
Other comprehensive income | 2 |  |  | 1 |  |  | 11 |
Comprehensive income | $ | 5,580 |  |  | $ | 6,042 |  |  | $ | 5,684 |
Balance Sheet - Parent company | Table 109: Parent Company - Balance Sheet
December 31 – in millions | 2023 |  | 2022
Assets |  |  |
Cash held at banking subsidiary | $ | 6,599 |  |  | $ | 4,654 |
Restricted deposits with banking subsidiary | 175 |  |  | 175 |
Investments in: |  |  |
Bank subsidiaries and bank holding company | 64,104 |  |  | 48,867 |
Non-bank subsidiaries | 3,020 |  |  | 3,170 |
Loans with affiliates | 1,687 |  |  | 1,484 |
Other assets | 1,297 |  |  | 2,057 |
Total assets | $ | 76,882 |  |  | $ | 60,407 |
Liabilities |  |  |
Subordinated debt (a) | $ | 1,749 |  |  | $ | 1,728 |
Senior debt (a) | 22,213 |  |  | 11,379 |
Accrued expenses and other liabilities | 1,815 |  |  | 1,526 |
Total liabilities | 25,777 |  |  | 14,633 |
Equity |  |  |
Shareholders’ equity | 51,105 |  |  | 45,774 |
Total liabilities and equity | $ | 76,882 |  |  | $ | 60,407 |
(a)See Note 9 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 110: Parent Company - Interest Paid and Income Tax Refunds (Payments)
Year ended December 31 – in millions |  | Interest Paid |  | Income Tax Refunds/ (Payments)
2023 |  | $ | 683 |  |  | $ | 1,080 |
2022 |  | $ | 314 |  |  | $ | (255) |
2021 |  | $ | 307 |  |  | $ | 386 |
Statement of Cash Flows - Parent company | Table 111: Parent Company - Statement of Cash Flows
Year ended December 31 – in millions | 2023 |  | 2022 |  | 2021
Operating Activities |  |  |  |  |
Net income | $ | 5,578 |  |  | $ | 6,041 |  |  | $ | 5,673 |
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |
Equity in undistributed net earnings of subsidiaries | (3,176) |  |  | (2,303) |  |  | (1,628) |
Other | 1,276 |  |  | 95 |  |  | (248) |
Net cash provided (used) by operating activities | $ | 3,678 |  |  | $ | 3,833 |  |  | $ | 3,797 |
Investing Activities |  |  |  |  |
Proceeds from available for sale securities |  |  |  |  |  | 300 |
Net change in loans and securities from affiliates | $ | (9,475) |  |  | (531) |  |  | $ | (1,188) |
Net cash paid for acquisition |  |  |  |  | (11,358) |
Other | (5) |  |  | (84) |  |  | (5) |
Net cash provided (used) by investing activities | $ | (9,480) |  |  | $ | (615) |  |  | $ | (12,251) |
Financing Activities |  |  |  |  |
Net change in other borrowed funds from affiliates | $ | 255 |  |  | $ | (1,138) |  |  | $ | (435) |
Proceeds from long-term borrowings | 10,463 |  |  | 4,335 |  |  | 1,692 |
Repayments of long-term borrowings |  |  |  | (1,500) |  |  | (500) |
Preferred stock issuances | 1,484 |  |  | 2,225 |  |  | 1,484 |
Preferred stock redemptions | (1,000) |  |  | (1,500) |  |  |  |
Common and treasury stock issuances | 72 |  |  | 68 |  |  | 66 |
Acquisition of treasury stock | (651) |  |  | (3,731) |  |  | (1,079) |
Preferred stock cash dividends paid | (417) |  |  | (301) |  |  | (233) |
Common stock cash dividends paid | (2,459) |  |  | (2,389) |  |  | (2,056) |
Net cash provided (used) by financing activities | $ | 7,747 |  |  | $ | (3,931) |  |  | $ | (1,061) |
Net Increase (Decrease) In Cash And Due From Banks | $ | 1,945 |  |  | $ | (713) |  |  | $ | (9,515) |
Cash and restricted deposits held at banking subsidiary at beginning of year | 4,829 |  |  | 5,542 |  |  | 15,057 |
Cash and restricted deposits held at banking subsidiary at end of year | $ | 6,774 |  |  | $ | 4,829 |  |  | $ | 5,542 |

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