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Parent Company | 12 Months Ended
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Dec. 31, 2023
Condensed Financial Information Disclosure [Abstract] |
Parent Company | PARENT C OMPANY 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 |
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. In connection with certain affiliates’ commercial and residential mortgage servicing operations, the parent company has committed to maintain such affiliates’ net worth above minimum requirements. 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 |
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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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-3 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 205 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(Schedule I)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480922/205-10-S99-6 Reference 3: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481231/810-10-45-11 + Details
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