XML 71 R49.htm IDEA: XBRL DOCUMENT
v3.22.0.1

BORROWED FUNDS (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2021
Debt Disclosure [Abstract] |
Schedule of short-term borrowed funds | The following table presents a summary of the Company’s short-term borrowed funds.
| December 31,
(in millions) | 2021 |  | 2020
Securities sold under agreements to repurchase | $1 |  |  | $231 |
Other short-term borrowed funds | 73 |  |  | 12 |
Total short-term borrowed funds | $74 |  |  | $243 |
Schedule of long-term borrowed funds | The following table presents a summary of the Company’s long-term borrowed funds:
| December 31,
(in millions) | 2021 |  | 2020
Parent Company: |  |  |
2.375% fixed-rate senior unsecured debt, due July 2021(1) | $— |  |  | $350 |
4.150% fixed-rate subordinated debt, due September 2022(2)(3) | 168 |  |  | 182 |
3.750% fixed-rate subordinated debt, due July 2024(2)(3) | 90 |  |  | 159 |
4.023% fixed-rate subordinated debt, due October 2024(2)(3) | 17 |  |  | 25 |
4.350% fixed-rate subordinated debt, due August 2025(2)(3) | 133 |  |  | 193 |
4.300% fixed-rate subordinated debt, due December 2025(2)(3) | 336 |  |  | 450 |
2.850% fixed-rate senior unsecured notes, due July 2026 | 498 |  |  | 497 |
2.500% fixed-rate senior unsecured notes, due February 2030 | 298 |  |  | 297 |
3.250% fixed-rate senior unsecured notes, due April 2030 | 745 |  |  | 745 |
3.750% fixed-rate reset subordinated debt, due February 2031(2) | 69 |  |  | — |
4.300% fixed-rate reset subordinated debt, due February 2031(2) | 135 |  |  | — |
4.350% fixed-rate reset subordinated debt, due February 2031(2) | 60 |  |  | — |
2.638% fixed-rate subordinated debt, due September 2032(3) | 550 |  |  | 543 |
CBNA’s Global Note Program: |  |  |
2.550% senior unsecured notes, due May 2021 | — |  |  | 1,003 |
3.250% senior unsecured notes, due February 2022 | 700 |  |  | 716 |
0.845% floating-rate senior unsecured notes, due February 2022(4) | 300 |  |  | 299 |
0.932% floating-rate senior unsecured notes, due May 2022(4) | 250 |  |  | 250 |
2.650% senior unsecured notes, due May 2022 | 503 |  |  | 510 |
3.700% senior unsecured notes, due March 2023 | 512 |  |  | 527 |
1.170% floating-rate senior unsecured notes, due March 2023(4) | 250 |  |  | 249 |
2.250% senior unsecured notes, due April 2025 | 746 |  |  | 746 |
3.750% senior unsecured notes, due February 2026 | 524 |  |  | 551 |
Additional Borrowings by CBNA and Other Subsidiaries: |  |  |
Federal Home Loan Bank advances, 0.852% weighted average rate, due through 2041 | 19 |  |  | 19 |
Other | 29 |  |  | 35 |
Total long-term borrowed funds | $6,932 |  |  | $8,346 |
(1) Notes were redeemed on June 28, 2021. (2) December 31, 2021 balances reflect the February 2021 completion of $265 million in private exchange offers for five series of outstanding subordinated notes whereby participants received newly issued 3.750%, 4.300%, and 4.350% fixed-rate reset subordinated notes due 2031 which are redeemable by the Company five years prior to their maturity. (3) December 31, 2020 balances reflect the September 2020 completion of (i) $621 million in private exchange offers for five series of outstanding subordinated notes whereby participants received a combination of the Company’s newly issued 2.638% fixed-rate subordinated notes due 2032 and an additional cash payment and (ii) $11 million in related cash tender offers whereby validly tendered and accepted subordinated notes were purchased by Citizens and subsequently cancelled. (4) Rate disclosed reflects the floating rate as of December 31, 2021, or final floating rate as applicable.
Schedule of maturities of long-term borrowed funds | The following table presents a summary of maturities for the Company’s long-term borrowed funds at December 31, 2021:
(in millions) | Parent Company | CBNA and Other Subsidiaries | Consolidated
Year |  |  |
2022 | $168 |  | $1,763 |  | $1,931 |
2023 | — |  | 765 |  | 765 |
2024 | 107 |  | 1 |  | 108 |
2025 | 469 |  | 760 |  | 1,229 |
2026 | 498 |  | 524 |  | 1,022 |
2027 and thereafter | 1,857 |  | 20 |  | 1,877 |
Total | $3,099 |  | $3,833 |  | $6,932 |

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

X
- Definition Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=124435984&loc=d3e28541-108399 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21506-112644 Reference 5: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 55 -Paragraph 69B -URI http://asc.fasb.org/extlink&oid=123466577&loc=SL123495735-112612 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=124435984&loc=d3e28551-108399 Reference 7: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 55 -Paragraph 69E -URI http://asc.fasb.org/extlink&oid=123466577&loc=SL123495743-112612 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21521-112644 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21538-112644 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=123599511&loc=d3e64711-112823 Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400 Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21475-112644 + Details
Name: | us-gaap_ScheduleOfDebtInstrumentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of maturity and sinking fund requirement for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=123465755&loc=d3e1835-112601 + Details
Name: | us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of short-term debt arrangements (having initial terms of repayment within one year or the normal operating cycle, if longer) including: (1) description of the short-term debt arrangement; (2) identification of the lender or type of lender; (3) repayment terms; (4) weighted average interest rate; (5) carrying amount of funds borrowed under the specified short-term debt arrangement as of the balance sheet date; (6) description of the refinancing of a short-term obligation when that obligation is excluded from current liabilities in the balance sheet; and (7) amount of a short-term obligation that has been excluded from current liabilities in the balance sheet because of a refinancing of the obligation. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_ScheduleOfShortTermDebtTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration