XML 81 R57.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Employee Benefit Plans (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2024
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract] |
Schedule of Defined Benefit Plans Disclosures | The following table sets forth the plans’ change in benefit obligation, plan assets and funded status, using a December 31 measurement date, and amounts recognized in the consolidated balance sheets at December 31:
| Qualified Plans |  | Non-qualified Plans |  | Total
| 2024 |  | 2023 |  | 2024 |  | 2023 |  | 2024 |  | 2023
| (In millions)
Change in benefit obligation |  |  |  |  |  |  |  |  |  |  |
Projected benefit obligation, beginning of year | $ | 1,644 |  |  | $ | 1,623 |  |  | $ | 82 |  |  | $ | 127 |  |  | $ | 1,726 |  |  | $ | 1,750 |
Service cost | 22 |  |  | 21 |  |  | 1 |  |  | 1 |  |  | 23 |  |  | 22 |
Interest cost | 82 |  |  | 86 |  |  | 4 |  |  | 6 |  |  | 86 |  |  | 92 |
Actuarial (gains) losses | (52) |  |  | 49 |  |  | 3 |  |  | 14 |  |  | (49) |  |  | 63 |
Benefit payments | (157) |  |  | (132) |  |  | (7) |  |  | (8) |  |  | (164) |  |  | (140) |
Administrative expenses | (3) |  |  | (3) |  |  | — |  |  | — |  |  | (3) |  |  | (3) |
Plan settlements | — |  |  | — |  |  | (9) |  |  | (58) |  |  | (9) |  |  | (58) |
Projected benefit obligation, end of year | $ | 1,536 |  |  | $ | 1,644 |  |  | $ | 74 |  |  | $ | 82 |  |  | $ | 1,610 |  |  | $ | 1,726 |
Change in plan assets |  |  |  |  |  |  |  |  |  |  |
Fair value of plan assets, beginning of year | $ | 1,936 |  |  | $ | 1,970 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,936 |  |  | $ | 1,970 |
Actual return on plan assets | 98 |  |  | 101 |  |  | — |  |  | — |  |  | 98 |  |  | 101 |
Company contributions | — |  |  | — |  |  | 16 |  |  | 66 |  |  | 16 |  |  | 66 |
Benefit payments | (157) |  |  | (132) |  |  | (7) |  |  | (8) |  |  | (164) |  |  | (140) |
Administrative expenses | (3) |  |  | (3) |  |  | — |  |  | — |  |  | (3) |  |  | (3) |
Plan settlements | — |  |  | — |  |  | (9) |  |  | (58) |  |  | (9) |  |  | (58) |
Fair value of plan assets, end of year | $ | 1,874 |  |  | $ | 1,936 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,874 |  |  | $ | 1,936 |
Funded status and accrued benefit (cost) at measurement date | $ | 338 |  |  | $ | 292 |  |  | $ | (74) |  |  | $ | (82) |  |  | $ | 264 |  |  | $ | 210 |
Amount recognized in the Consolidated Balance Sheets: |  |  |  |  |  |  |  |  |  |  |
Other assets | $ | 338 |  |  | $ | 292 |  |  | $ | — |  |  | $ | — |  |  | $ | 338 |  |  | $ | 292 |
Other liabilities | — |  |  | — |  |  | (74) |  |  | (82) |  |  | (74) |  |  | (82) |
| $ | 338 |  |  | $ | 292 |  |  | $ | (74) |  |  | $ | (82) |  |  | $ | 264 |  |  | $ | 210 |
Pre-tax amounts recognized in Accumulated Other Comprehensive (Income) Loss: |  |  |  |  |  |  |  |  |  |  |
Net actuarial loss | $ | 529 |  |  | $ | 580 |  |  | $ | 26 |  |  | $ | 29 |  |  | $ | 555 |  |  | $ | 609 |
Components Of Net Periodic Benefit Costs | Net periodic pension cost (benefit) included the following components for the years ended December 31:
|  | Qualified Plans |  | Non-qualified Plans |  | Total
|  | 2024 |  | 2023 |  | 2022 |  | 2024 |  | 2023 |  | 2022 |  | 2024 |  | 2023 |  | 2022
| (In millions) |  |
Service cost | $ | 22 |  |  | $ | 21 |  |  | $ | 34 |  |  | $ | 1 |  |  | $ | 1 |  |  | $ | 2 |  |  | $ | 23 |  |  | $ | 22 |  |  | $ | 36 |
Interest cost | 82 |  | 86 |  | 56 |  |  | 4 |  |  | 6 |  |  | 3 |  |  | 86 |  |  | 92 |  |  | 59 |
Expected return on plan assets | (124) |  | (120) |  | (139) |  |  | — |  |  | — |  |  | — |  |  | (124) |  |  | (120) |  |  | (139) |
Amortization of actuarial loss | 25 |  | 24 |  | 25 |  |  | 3 |  |  | 4 |  |  | 7 |  |  | 28 |  |  | 28 |  |  | 32 |
Settlement charge | — |  |  | — |  |  | 4 |  |  | 3 |  |  | 17 |  |  | 2 |  |  | 3 |  |  | 17 |  |  | 6 |
Net periodic pension (benefit) cost | $ | 5 |  |  | $ | 11 |  |  | $ | (20) |  |  | $ | 11 |  |  | $ | 28 |  |  | $ | 14 |  |  | $ | 16 |  |  | $ | 39 |  |  | $ | (6) |
Schedule of Assumptions Used | The assumptions used to determine benefit obligations at December 31 are as follows:
| Qualified Plans |  | Non-qualified Plans
| 2024 |  | 2023 |  | 2024 |  | 2023
Discount rate | 5.67 | % |  | 5.15 | % |  | 5.49 | % |  | 5.08 | %
Rate of annual compensation increase | 4.00 | % |  | 4.00 | % |  | 3.00 | % |  | 3.00 | %
The weighted-average assumptions used to determine net periodic pension (benefit) cost for the years ended December 31 are as follows:
| Qualified Plans |  | Non-qualified Plans
| 2024 |  | 2023 |  | 2022 |  | 2024 |  | 2023 |  | 2022
Discount rate | 5.15 | % |  | 5.42 | % |  | 2.85 | % |  | 5.09 | % |  | 5.42 | % |  | 2.72 | %
Expected long-term rate of return on plan assets | 6.61 | % |  | 6.37 | % |  | 5.62 | % |  | N/A |  | N/A |  | N/A
Rate of annual compensation increase | 4.00 | % |  | 4.00 | % |  | 4.00 | % |  | 3.00 | % |  | 3.00 | % |  | 3.00 | %
Presentation Of The Fair Value Of Regions' Qualified Defined-Benefit Pension Plans' | The following table presents the fair value of Regions’ qualified pension plans’ financial assets as of December 31:
| 2024 |  | 2023
| Level 1 |  | Level 2 |  | Level 3 |  | Fair Value |  | Level 1 |  | Level 2 |  | Level 3 |  | Fair Value
| (In millions)
Cash and cash equivalents | $ | 27 |  |  | $ | — |  |  | $ | — |  |  | $ | 27 |  |  | $ | 74 |  |  | $ | — |  |  | $ | — |  |  | $ | 74 |
Fixed income securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities | $ | 362 |  |  | $ | — |  |  | $ | — |  |  | $ | 362 |  |  | $ | 359 |  |  | $ | — |  |  | $ | — |  |  | $ | 359 |
Federal agency securities | — |  |  | 11 |  |  | — |  |  | 11 |  |  | — |  |  | 7 |  |  | — |  |  | 7 |
Corporate bonds and other debt | — |  |  | 606 |  |  | — |  |  | 606 |  |  | — |  |  | 603 |  |  | — |  |  | 603 |
Total fixed income securities | $ | 362 |  |  | $ | 617 |  |  | $ | — |  |  | $ | 979 |  |  | $ | 359 |  |  | $ | 610 |  |  | $ | — |  |  | $ | 969 |
Domestic equity securities | $ | 124 |  |  | $ | — |  |  | $ | — |  |  | $ | 124 |  |  | $ | 132 |  |  | $ | — |  |  | $ | — |  |  | $ | 132 |
International mutual funds | $ | 90 |  |  | $ | — |  |  | $ | — |  |  | $ | 90 |  |  | $ | 103 |  |  | $ | — |  |  | $ | — |  |  | $ | 103 |
Total assets in the fair value hierarchy | $ | 603 |  |  | $ | 617 |  |  | $ | — |  |  | $ | 1,220 |  |  | $ | 668 |  |  | $ | 610 |  |  | $ | — |  |  | $ | 1,278 |
Collective trust funds: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fixed income fund (1) |  |  |  |  |  |  | $ | 117 |  |  |  |  |  |  |  |  | $ | 111 |
Common stock fund (1) |  |  |  |  |  |  | 126 |  |  |  |  |  |  |  |  | 119 |
International fund (1) |  |  |  |  |  |  | 120 |  |  |  |  |  |  |  |  | 117 |
Total collective trust funds |  |  |  |  |  |  | $ | 363 |  |  |  |  |  |  |  |  | $ | 347 |
Real estate funds measured at NAV (1) |  |  |  |  |  |  | 119 |  |  |  |  |  |  |  |  | 144 |
Private equity funds measured at NAV (1) |  |  |  |  |  |  | 172 |  |  |  |  |  |  |  |  | 167 |
|  |  |  |  |  |  | $ | 1,874 |  |  |  |  |  |  |  |  | $ | 1,936 |
__________ (1)In accordance with accounting guidance, investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient are not required to be classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of amounts reported in the fair value hierarchy to amounts reported on the balance sheet.
Information About The Expected Cash Flows For The Qualified Pension Plan | Information about the expected cash flows for the qualified and non-qualified plans is as follows:
| Qualified Plans |  | Non-qualified Plans
| (In millions)
Expected Employer Contributions: |  |  |
2025 | $ | — |  |  | $ | — |
Expected Benefit Payments: |  |  |
2025 | $ | 123 |  |  | $ | 8 |
2026 | 124 |  |  | 8 |
2027 | 126 |  |  | 7 |
2028 | 125 |  |  | 8 |
2029 | 123 |  |  | 8 |
Next five years | 587 |  |  | 34 |

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

X
- Definition Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 715 -SubTopic 20 -Subparagraph (d)(5) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 + Details
Name: | us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assumption used to determine benefit obligation and net periodic benefit cost of defined benefit plan. Includes, but is not limited to, discount rate, rate of compensation increase, expected long-term rate of return on plan assets and interest crediting rate. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (k) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 + Details
Name: | us-gaap_ScheduleOfAssumptionsUsedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of one or more of the entity's defined benefit pension plans or one or more other defined benefit postretirement plans, separately for pension plans and other postretirement benefit plans including the entity's schedule of fair value of plan assets for defined benefit or other postretirement plans. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 20 -Topic 715 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 55 -Paragraph 17 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480482/715-20-55-17 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-3 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-4 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-2 + Details
Name: | us-gaap_ScheduleOfDefinedBenefitPlansDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 715 -SubTopic 20 -Subparagraph (f) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 + Details
Name: | us-gaap_ScheduleOfExpectedBenefitPaymentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 715 -SubTopic 20 -Subparagraph (h) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 + Details
Name: | us-gaap_ScheduleOfNetBenefitCostsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration