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Asset Quality (Tables) | 12 Months Ended
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Dec. 31, 2019
Receivables [Abstract] |
Financing Receivable Credit Quality Indicators | Commercial Credit Exposure — Excluding PCI Credit Risk Profile by Creditworthiness Category (a), (b)
December 31, |  |  |  |  |  |  |  |  |  |
in millions | Commercial and industrial | RE — Commercial | RE — Construction | Commercial Lease | Total
RATING | 2019 | 2018 | 2019 | 2018 | 2019 | 2018 | 2019 | 2018 | 2019 | 2018
Pass | $ | 46,544 |  | $ | 44,138 |  | $ | 12,914 |  | $ | 13,672 |  | $ | 1,524 |  | $ | 1,537 |  | $ | 4,642 |  | $ | 4,557 |  | $ | 65,624 |  | $ | 63,904 |
Criticized (Accruing) | 1,439 |  | 1,402 |  | 370 |  | 354 |  | 31 |  | 125 |  | 40 |  | 41 |  | 1,880 |  | 1,922 |
Criticized (Nonaccruing) | 264 |  | 152 |  | 83 |  | 81 |  | 2 |  | 2 |  | 6 |  | 8 |  | 355 |  | 243 |
Total | $ | 48,247 |  | $ | 45,692 |  | $ | 13,367 |  | $ | 14,107 |  | $ | 1,557 |  | $ | 1,664 |  | $ | 4,688 |  | $ | 4,606 |  | $ | 67,859 |  | $ | 66,069 |
(a) | Credit quality indicators are updated on an ongoing basis and reflect credit quality information as of the dates indicated.
(b) | The term criticized refers to those loans that are internally classified by Key as special mention or worse, which are asset quality categories defined by regulatory authorities. These assets have an elevated level of risk and may have a high probability of default or total loss. Pass rated refers to all loans not classified as criticized.
Consumer Credit Exposure — Excluding PCI Non-PCI Loans by Refreshed FICO Score (a)
December 31, |  |  |  |  |  |  |  |  |  |
in millions | Residential — Prime | Consumer direct loans | Credit cards | Consumer indirect loans | Total
FICO SCORE | 2019 | 2018 | 2019 | 2018 | 2019 | 2018 | 2019 | 2018 | 2019 | 2018
750 and above | $ | 10,583 |  | $ | 9,794 |  | $ | 1,874 |  | $ | 549 |  | $ | 523 |  | $ | 521 |  | $ | 2,232 |  | $ | 1,647 |  | $ | 15,212 |  | $ | 12,511 |
660 to 749 | 4,823 |  | 4,906 |  | 1,069 |  | 700 |  | 484 |  | 507 |  | 1,652 |  | 1,320 |  | 8,028 |  | 7,433 |
Less than 660 | 1,360 |  | 1,411 |  | 223 |  | 224 |  | 123 |  | 116 |  | 641 |  | 565 |  | 2,347 |  | 2,316 |
No Score | 261 |  | 213 |  | 344 |  | 333 |  | — |  | — |  | 149 |  | 102 |  | 754 |  | 648 |
Total | $ | 17,027 |  | $ | 16,324 |  | $ | 3,510 |  | $ | 1,806 |  | $ | 1,130 |  | $ | 1,144 |  | $ | 4,674 |  | $ | 3,634 |  | $ | 26,341 |  | $ | 22,908 |
(a) | Borrower FICO scores provide information about the credit quality of our consumer loan portfolio as they provide an indication as to the likelihood that a debtor will repay their debts. The scores are obtained from a nationally recognized consumer rating agency and are presented in the above table at the dates indicated.
Commercial Credit Exposure — PCI Credit Risk Profile by Creditworthiness Category (a), (b)
December 31, |  |  |  |  |  |  |  |  |  |
in millions | Commercial and industrial | RE — Commercial | RE — Construction | Commercial Lease | Total
RATING | 2019 | 2018 | 2019 | 2018 | 2019 | 2018 | 2019 | 2018 | 2019 | 2018
Pass | $ | 28 |  | $ | 37 |  | $ | 87 |  | $ | 125 |  | $ | 1 |  | $ | 2 |  | — |  | — |  | $ | 116 |  | $ | 164 |
Criticized | 20 |  | 24 |  | 37 |  | 53 |  | — |  | — |  | — |  | — |  | 57 |  | 77 |
Total | $ | 48 |  | $ | 61 |  | $ | 124 |  | $ | 178 |  | $ | 1 |  | $ | 2 |  | — |  | — |  | $ | 173 |  | $ | 241 |
(a) | Credit quality indicators are updated on an ongoing basis and reflect credit quality information as of the dates indicated.
(b) | The term criticized refers to those loans that are internally classified by Key as special mention or worse, which are asset quality categories defined by regulatory authorities. These assets have an elevated level of risk and may have a high probability of default or total loss. Pass rated refers to all loans not classified as criticized.
Consumer Credit Exposure — PCI PCI Loans by Refreshed FICO Score (a)
December 31, |  |  |  |  |  |  |  |  |  |
in millions | Residential — Prime | Consumer direct loans | Credit cards | Consumer indirect loans | Total
FICO SCORE | 2019 | 2018 | 2019 | 2018 | 2019 | 2018 | 2019 | 2018 | 2019 | 2018
750 and above | $ | 103 |  | $ | 137 |  | 1 |  | — |  | — |  | — |  | — |  | — |  | $ | 104 |  | $ | 137 |
660 to 749 | 91 |  | 95 |  | $ | 1 |  | $ | 1 |  | — |  | — |  | — |  | — |  | 92 |  | 96 |
Less than 660 | 70 |  | 97 |  | 1 |  | 2 |  | — |  | — |  | — |  | — |  | 71 |  | 99 |
No Score | 6 |  | 2 |  | — |  | — |  | — |  | — |  | — |  | — |  | 6 |  | 2 |
Total | $ | 270 |  | $ | 331 |  | $ | 3 |  | $ | 3 |  | — |  | — |  | — |  | — |  | $ | 273 |  | $ | 334 |
(a) Borrower FICO scores provide information about the credit quality of our consumer loan portfolio as they provide an indication as to the likelihood that a debtor will repay their debts. The scores are obtained from a nationally recognized consumer rating agency and are presented in the above table at the dates indicated.
Past Due Loans Including Current Loans | The following aging analysis of current and past due loans as of December 31, 2019, and December 31, 2018, provides further information regarding Key’s credit exposure. Aging Analysis of Loan Portfolio (a)
December 31, 2019 | Current | 30-59 Days Past Due (b) | 60-89 Days Past Due (b) | 90 and Greater Days Past Due (b) | Non-performing Loans | Total Past Due and Non-performing Loans | Purchased Credit Impaired | Total Loans (c), (d)
in millions
LOAN TYPE |  |  |  |  |  |  |  |
Commercial and industrial | $ | 47,768 |  | $ | 110 |  | $ | 52 |  | $ | 53 |  | $ | 264 |  | $ | 479 |  | $ | 48 |  | $ | 48,295 |
Commercial real estate: |  |  |  |  |  |  |  |
Commercial mortgage | 13,258 |  | 8 |  | 5 |  | 13 |  | 83 |  | 109 |  | 124 |  | 13,491 |
Construction | 1,551 |  | 3 |  | — |  | 1 |  | 2 |  | 6 |  | 1 |  | 1,558 |
Total commercial real estate loans | 14,809 |  | 11 |  | 5 |  | 14 |  | 85 |  | 115 |  | 125 |  | 15,049 |
Commercial lease financing | 4,647 |  | 22 |  | 11 |  | 2 |  | 6 |  | 41 |  | — |  | 4,688 |
Total commercial loans | $ | 67,224 |  | $ | 143 |  | $ | 68 |  | $ | 69 |  | $ | 355 |  | $ | 635 |  | $ | 173 |  | $ | 68,032 |
Real estate — residential mortgage | $ | 6,705 |  | $ | 7 |  | $ | 5 |  | $ | 1 |  | $ | 48 |  | $ | 61 |  | $ | 257 |  | $ | 7,023 |
Home equity loans | 10,071 |  | 30 |  | 10 |  | 5 |  | 145 |  | 190 |  | 13 |  | 10,274 |
Consumer direct loans | 3,484 |  | 10 |  | 5 |  | 7 |  | 4 |  | 26 |  | 3 |  | 3,513 |
Credit cards | 1,104 |  | 6 |  | 5 |  | 12 |  | 3 |  | 26 |  | — |  | 1,130 |
Consumer indirect loans | 4,609 |  | 32 |  | 8 |  | 3 |  | 22 |  | 65 |  | — |  | 4,674 |
Total consumer loans | $ | 25,973 |  | $ | 85 |  | $ | 33 |  | $ | 28 |  | $ | 222 |  | $ | 368 |  | $ | 273 |  | $ | 26,614 |
Total loans | $ | 93,197 |  | $ | 228 |  | $ | 101 |  | $ | 97 |  | $ | 577 |  | $ | 1,003 |  | $ | 446 |  | $ | 94,646 |
(a) | Amounts in table represent recorded investment and exclude loans held for sale. Recorded investment represents the face amount of the loan increased or decreased by applicable accrued interest, net deferred loan fees and costs, and unamortized premium or discount, and reflects direct charge-offs.
(b) | Past due loan amounts exclude purchased impaired loans, even if contractually past due (or if we do not expect to collect principal or interest in full based on the original contractual terms), as we are currently accreting income over the remaining term of the loans.
(c) | Net of unearned income, net deferred loan fees and costs, and unamortized discounts and premiums.
(d) | Future accretable yield related to PCI loans is not included in the analysis of the loan portfolio.
December 31, 2018 | Current | 30-59 Days Past Due (b) | 60-89 Days Past Due (b) | 90 and Greater Days Past Due (b) | Non-performing Loans | Total Past Due and Non-performing Loans | Purchased Credit Impaired | Total Loans (c), (d)
in millions
LOAN TYPE |  |  |  |  |  |  |  |
Commercial and industrial | $ | 45,375 |  | $ | 89 |  | $ | 31 |  | $ | 45 |  | $ | 152 |  | $ | 317 |  | $ | 61 |  | $ | 45,753 |
Commercial real estate: |  |  |  |  |  |  |  |
Commercial mortgage | 13,957 |  | 27 |  | 17 |  | 25 |  | 81 |  | 150 |  | 178 |  | 14,285 |
Construction | 1,646 |  | — |  | 13 |  | 3 |  | 2 |  | 18 |  | 2 |  | 1,666 |
Total commercial real estate loans | 15,603 |  | 27 |  | 30 |  | 28 |  | 83 |  | 168 |  | 180 |  | 15,951 |
Commercial lease financing | 4,580 |  | 12 |  | 1 |  | 4 |  | 9 |  | 26 |  | — |  | 4,606 |
Total commercial loans | $ | 65,558 |  | $ | 128 |  | $ | 62 |  | $ | 77 |  | $ | 244 |  | $ | 511 |  | $ | 241 |  | $ | 66,310 |
Real estate — residential mortgage | $ | 5,119 |  | $ | 11 |  | $ | 3 |  | $ | 4 |  | $ | 62 |  | $ | 80 |  | $ | 314 |  | $ | 5,513 |
Home equity loans | 10,862 |  | 31 |  | 12 |  | 10 |  | 210 |  | 263 |  | 17 |  | 11,142 |
Consumer direct loans | 1,780 |  | 11 |  | 5 |  | 6 |  | 4 |  | 26 |  | 3 |  | 1,809 |
Credit cards | 1,119 |  | 6 |  | 5 |  | 12 |  | 2 |  | 25 |  | — |  | 1,144 |
Consumer indirect loans | 3,573 |  | 31 |  | 7 |  | 3 |  | 20 |  | 61 |  | — |  | 3,634 |
Total consumer loans | $ | 22,453 |  | $ | 90 |  | $ | 32 |  | $ | 35 |  | $ | 298 |  | $ | 455 |  | $ | 334 |  | $ | 23,242 |
Total loans | $ | 88,011 |  | $ | 218 |  | $ | 94 |  | $ | 112 |  | $ | 542 |  | $ | 966 |  | $ | 575 |  | $ | 89,552 |
(a) | Amounts in table represent recorded investment and exclude loans held for sale. Recorded investment represents the face amount of the loan increased or decreased by applicable accrued interest, net deferred loan fees and costs, and unamortized premium or discount, and reflects direct charge-offs.
(b) | Past due loan amounts exclude purchased impaired loans, even if contractually past due (or if we do not expect to collect principal or interest in full based on the original contractual terms), as we are currently accreting income over the remaining term of the loans.
(c) | Net of unearned income, net deferred loan fees and costs, and unamortized discounts and premiums.
(d) Future accretable yield related to PCI loans is not included in the analysis of the loan portfolio.
Breakdown of Individually Impaired Loans | The following tables set forth a further breakdown of individually impaired loans:
| December 31, 2019 |  | December 31, 2018
| Recorded Investment (a) | Unpaid Principal Balance (b) | Specific Allowance (c) |  | Recorded Investment (a) | Unpaid Principal Balance (b) | Specific Allowance (c)
in millions
With no related allowance recorded: |  |  |  |  |  |  |
Commercial and industrial | $ | 156 |  | $ | 224 |  | — |  |  | $ | 118 |  | $ | 175 |  | — |
Commercial real estate: |  |  |  |  |  |  |
Commercial mortgage | 65 |  | 77 |  | — |  |  | 64 |  | 70 |  | — |
Total commercial real estate loans | 65 |  | 77 |  | — |  |  | 64 |  | 70 |  | — |
Total commercial loans | 221 |  | 301 |  | — |  |  | 182 |  | 245 |  | — |
Real estate — residential mortgage | 3 |  | 4 |  | — |  |  | 4 |  | 5 |  | — |
Home equity loans | 45 |  | 51 |  | — |  |  | 49 |  | 56 |  | — |
Consumer direct loans | — |  | 1 |  | — |  |  | 1 |  | 1 |  | — |
Consumer indirect loans | 2 |  | 4 |  | — |  |  | 2 |  | 4 |  | — |
Total consumer loans | 50 |  | 60 |  | — |  |  | 56 |  | 66 |  | — |
Total loans with no related allowance recorded | 271 |  | 361 |  | — |  |  | 238 |  | 311 |  | — |
With an allowance recorded: |  |  |  |  |  |  |
Commercial and industrial | 97 |  | 97 |  | $ | 17 |  |  | 44 |  | 47 |  | $ | 5 |
Commercial real estate: |  |  |  |  |  |  |
Commercial mortgage | — |  | — |  | — |  |  | 2 |  | 3 |  | 1 |
Total commercial real estate loans | — |  | — |  | — |  |  | 2 |  | 3 |  | 1 |
Total commercial loans | 97 |  | 97 |  | 17 |  |  | 46 |  | 50 |  | 6 |
Real estate — residential mortgage | 40 |  | 59 |  | 4 |  |  | 45 |  | 70 |  | 3 |
Home equity loans | 81 |  | 88 |  | 9 |  |  | 78 |  | 85 |  | 8 |
Consumer direct loans | 4 |  | 4 |  | — |  |  | 3 |  | 3 |  | — |
Credit cards | 3 |  | 3 |  | — |  |  | 3 |  | 3 |  | — |
Consumer indirect loans | 33 |  | 33 |  | 3 |  |  | 34 |  | 34 |  | 2 |
Total consumer loans | 161 |  | 187 |  | 16 |  |  | 163 |  | 195 |  | 13 |
Total loans with an allowance recorded | 258 |  | 284 |  | 33 |  |  | 209 |  | 245 |  | 19 |
Total | $ | 529 |  | $ | 645 |  | $ | 33 |  |  | $ | 447 |  | $ | 556 |  | $ | 19 |
(a) | The Recorded Investment represents the face amount of the loan increased or decreased by applicable accrued interest, net deferred loan fees and costs, and unamortized premium or discount, and reflects direct charge-offs. This amount is a component of total loans on our consolidated balance sheet.
(b) | The Unpaid Principal Balance represents the customer’s legal obligation to us.
(c) | See Note 1 (“Summary of Significant Accounting Policies”) under the heading “Impaired Loans” for a description of the specific allowance methodology.
The following table sets forth a further breakdown of average individually impaired loans reported by Key:
Average Recorded Investment (a) | Twelve Months Ended December 31,
in millions | 2019 | 2018 | 2017
Commercial and industrial | $ | 208 |  | $ | 149 |  | $ | 210 |
Commercial real estate: |  |  |
Commercial mortgage | 65 |  | 39 |  | 9 |
Construction | — |  | — |  | — |
Total commercial real estate loans | 65 |  | 39 |  | 9 |
Total commercial loans | 273 |  | 188 |  | 219 |
Real estate — residential mortgage | 46 |  | 49 |  | 50 |
Home equity loans | 127 |  | 122 |  | 121 |
Consumer direct loans | 4 |  | 4 |  | 3 |
Credit cards | 3 |  | 3 |  | 3 |
Consumer indirect loans | 35 |  | 35 |  | 32 |
Total consumer loans | 215 |  | 213 |  | 209 |
Total | $ | 488 |  | $ | 401 |  | $ | 428 |
(a) The Recorded Investment represents the face amount of the loan increased or decreased by applicable accrued interest, net deferred loan fees and costs, and unamortized premium or discount, and reflects direct charge-offs. This amount is a component of total loans on our consolidated balance sheet.
Post-Modification Outstanding Recorded Investment by Concession Type for Our Commercial Accruing and Nonaccruing TDRs | The following table shows the period-end post-modification outstanding recorded investment by concession type for our commercial and consumer accruing and nonaccruing TDRs added during the periods indicated:
| Twelve Months Ended December 31,
in millions | 2019 | 2018
Commercial loans: |  |
Extension of maturity date | $ | 11 |  | 15 |
Payment or covenant modification/deferment | 11 |  | $ | 99 |
Bankruptcy plan modification | — |  | 6 |
Increase in new commitment or new money | 8 |  | — |
Total | $ | 30 |  | $ | 120 |
Consumer loans: |  |
Interest rate reduction | $ | 14 |  | $ | 28 |
Forgiveness of principal | — |  | — |
Other | 29 |  | 38 |
Total | $ | 43 |  | $ | 66 |
Total commercial and consumer TDRs | $ | 73 |  | $ | 186 |
Summary Of Post-Modification Outstanding Recorded Investment, Accruing And Nonaccruing TDRs | The following table summarizes the change in the post-modification outstanding recorded investment of our accruing and nonaccruing TDRs during the periods indicated:
Year ended December 31, |  |
in millions | 2019 | 2018
Balance at beginning of the period | $ | 399 |  | $ | 317 |
Additions | 112 |  | 228 |
Payments | (145 | ) | (110 | )
Charge-offs | (19 | ) | (36 | )
Balance at end of period (a) | $ | 347 |  | $ | 399 |
Breakdown of Nonperforming TDRs by Loans Category | A further breakdown of TDRs included in nonperforming loans by loan category for the periods indicated are as follows:
| December 31, 2019 |  | December 31, 2018
| Number of Loans | Pre-modification Outstanding Recorded Investment | Post-modification Outstanding Recorded Investment |  | Number of Loans | Pre-modification Outstanding Recorded Investment | Post-modification Outstanding Recorded Investment
dollars in millions
LOAN TYPE |  |  |  |  |  |  |
Nonperforming: |  |  |  |  |  |  |
Commercial and industrial | 51 |  | $ | 72 |  | $ | 53 |  |  | 35 |  | $ | 121 |  | $ | 85 |
Commercial real estate: |  |  |  |  |  |  |
Real estate — commercial mortgage | 6 |  | 64 |  | 58 |  |  | 6 |  | 66 |  | 62 |
Total commercial real estate loans | 6 |  | 64 |  | 58 |  |  | 6 |  | 66 |  | 62 |
Total commercial loans | 57 |  | 136 |  | 111 |  |  | 41 |  | 187 |  | 147 |
Real estate — residential mortgage | 181 |  | 13 |  | 11 |  |  | 281 |  | 21 |  | 20 |
Home equity loans | 713 |  | 42 |  | 41 |  |  | 1,142 |  | 66 |  | 63 |
Consumer direct loans | 172 |  | 2 |  | 2 |  |  | 171 |  | 2 |  | 1 |
Credit cards | 368 |  | 2 |  | 2 |  |  | 330 |  | 2 |  | 2 |
Consumer indirect loans | 1,131 |  | 19 |  | 16 |  |  | 1,098 |  | 18 |  | 14 |
Total consumer loans | 2,565 |  | 78 |  | 72 |  |  | 3,022 |  | 109 |  | 100 |
Total nonperforming TDRs | 2,622 |  | 214 |  | 183 |  |  | 3,063 |  | 296 |  | 247 |
Prior-year accruing: (a) |  |  |  |  |  |  |
Commercial and industrial | 6 |  | 30 |  | 25 |  |  | 11 |  | 37 |  | 32 |
Commercial real estate: |  |  |  |  |  |  |
Real estate — commercial mortgage | 1 |  | — |  | — |  |  | 2 |  | — |  | — |
Total commercial loans | 7 |  | 30 |  | 25 |  |  | 13 |  | 37 |  | 32 |
Real estate — residential mortgage | 493 |  | 37 |  | 31 |  |  | 491 |  | 36 |  | 30 |
Home equity loans | 1,751 |  | 104 |  | 84 |  |  | 1,403 |  | 82 |  | 64 |
Consumer direct loans | 139 |  | 4 |  | 3 |  |  | 79 |  | 4 |  | 3 |
Credit cards | 486 |  | 3 |  | 1 |  |  | 479 |  | 3 |  | 1 |
Consumer indirect loans | 714 |  | 33 |  | 20 |  |  | 556 |  | 33 |  | 22 |
Total consumer loans | 3,583 |  | 181 |  | 139 |  |  | 3,008 |  | 158 |  | 120 |
Total prior-year accruing TDRs | 3,590 |  | 211 |  | 164 |  |  | 3,021 |  | 195 |  | 152 |
Total TDRs | 6,212 |  | $ | 425 |  | $ | 347 |  |  | 6,084 |  | $ | 491 |  | $ | 399 |
(a) | All TDRs that were restructured prior to January 1, 2019, and January 1, 2018, are fully accruing.
Changes in Allowance for Loan and Lease Losses by Loan Category | The changes in the ALLL by loan category for the periods indicated are as follows:
in millions | December 31, 2018 | Provision |  | Charge-offs | Recoveries | December 31, 2019
Commercial and industrial | $ | 532 |  | $ | 311 |  |  | $ | (319 | ) | $ | 27 |  | $ | 551 |
Real estate — commercial mortgage | 142 |  | 7 |  |  | (8 | ) | 2 |  | 143 |
Real estate — construction | 33 |  | (6 | ) |  | (5 | ) | — |  | 22 |
Commercial lease financing | 36 |  | 20 |  |  | (26 | ) | 5 |  | 35 |
Total commercial loans | 743 |  | 332 |  |  | (358 | ) | 34 |  | 751 |
Real estate — residential mortgage | 7 |  | 1 |  |  | (3 | ) | 2 |  | 7 |
Home equity loans | 35 |  | 7 |  |  | (19 | ) | 8 |  | 31 |
Consumer direct loans | 30 |  | 38 |  |  | (41 | ) | 7 |  | 34 |
Credit cards | 48 |  | 36 |  |  | (44 | ) | 7 |  | 47 |
Consumer indirect loans | 20 |  | 27 |  |  | (34 | ) | 17 |  | 30 |
Total consumer loans | 140 |  | 109 |  |  | (141 | ) | 41 |  | 149 |
Total ALLL — continuing operations | 883 |  | 441 |  | (a), (b) | (499 | ) | 75 |  | 900 |
Discontinued operations | 14 |  | 3 |  |  | (12 | ) | 5 |  | 10 |
Total ALLL — including discontinued operations | $ | 897 |  | $ | 444 |  |  | $ | (511 | ) | $ | 80 |  | $ | 910 |
(a) | Excludes a provision for losses on lending-related commitments of $4 million.
(b) | Includes the realization of $139 million loss related to a previously disclosed fraud incident.
in millions | December 31, 2017 | Provision |  | Charge-offs | Recoveries | December 31, 2018
Commercial and industrial | $ | 529 |  | $ | 125 |  |  | $ | (159 | ) | $ | 37 |  | $ | 532 |
Real estate — commercial mortgage | 133 |  | 27 |  |  | (21 | ) | 3 |  | 142 |
Real estate — construction | 30 |  | 1 |  |  | — |  | 2 |  | 33 |
Commercial lease financing | 43 |  | (2 | ) |  | (10 | ) | 5 |  | 36 |
Total commercial loans | 735 |  | 151 |  |  | (190 | ) | 47 |  | 743 |
Real estate — residential mortgage | 7 |  | 1 |  |  | (3 | ) | 2 |  | 7 |
Home equity loans | 43 |  | 2 |  |  | (21 | ) | 11 |  | 35 |
Consumer direct loans | 28 |  | 31 |  |  | (36 | ) | 7 |  | 30 |
Credit cards | 44 |  | 41 |  |  | (44 | ) | 7 |  | 48 |
Consumer indirect loans | 20 |  | 14 |  |  | (30 | ) | 16 |  | 20 |
Total consumer loans | 142 |  | 89 |  |  | (134 | ) | 43 |  | 140 |
Total ALLL — continuing operations | 877 |  | 240 |  | (a) | (324 | ) | 90 |  | 883 |
Discontinued operations | 16 |  | 8 |  |  | (15 | ) | 5 |  | 14 |
Total ALLL — including discontinued operations | $ | 893 |  | $ | 248 |  |  | $ | (339 | ) | $ | 95 |  | $ | 897 |
(a) | Excludes a provision for losses on lending-related commitments of $6 million.
in millions | December 31, 2016 | Provision |  | Charge-offs | Recoveries | December 31, 2017
Commercial and industrial | $ | 508 |  | $ | 114 |  |  | $ | (133 | ) | $ | 40 |  | $ | 529 |
Real estate — commercial mortgage | 144 |  | (2 | ) |  | (11 | ) | 2 |  | 133 |
Real estate — construction | 22 |  | 9 |  |  | (2 | ) | 1 |  | 30 |
Commercial lease financing | 42 |  | 9 |  |  | (14 | ) | 6 |  | 43 |
Total commercial loans | 716 |  | 130 |  |  | (160 | ) | 49 |  | 735 |
Real estate — residential mortgage | 17 |  | (11 | ) |  | (3 | ) | 4 |  | 7 |
Home equity loans | 54 |  | 4 |  |  | (30 | ) | 15 |  | 43 |
Consumer direct loans | 24 |  | 32 |  |  | (34 | ) | 6 |  | 28 |
Credit cards | 38 |  | 45 |  |  | (44 | ) | 5 |  | 44 |
Consumer indirect loans | 9 |  | 27 |  |  | (31 | ) | 15 |  | 20 |
Total consumer loans | 142 |  | 97 |  |  | (142 | ) | 45 |  | 142 |
Total ALLL — continuing operations | 858 |  | 227 |  | (a) | (302 | ) | 94 |  | 877 |
Discontinued operations | 24 |  | 10 |  |  | (26 | ) | 8 |  | 16 |
Total ALLL — including discontinued operations | $ | 882 |  | $ | 237 |  |  | $ | (328 | ) | $ | 102 |  | $ | 893 |
(a) Excludes a provision for losses on lending-related commitments of $2 million.
Allowance for Loan and Lease Losses and Corresponding Loan Balances | A breakdown of the individual and collective ALLL and the corresponding loan balances for the periods indicated are as follows:
| Allowance | Outstanding
December 31, 2019 | Individually Evaluated for Impairment | Collectively Evaluated for Impairment | Purchased Credit Impaired | Loans |  | Individually Evaluated for Impairment | Collectively Evaluated for Impairment |  | Purchased Credit Impaired
in millions |  |
Commercial and industrial | $ | 17 |  | $ | 533 |  | $ | 1 |  | $ | 48,295 |  |  | $ | 253 |  | $ | 47,994 |  |  | $ | 48 |
Commercial real estate: |  |  |  |  |  |  |  |  |
Commercial mortgage | — |  | 141 |  | 2 |  | 13,491 |  |  | 65 |  | 13,302 |  |  | 124 |
Construction | — |  | 22 |  | — |  | 1,558 |  |  | — |  | 1,557 |  |  | 1 |
Total commercial real estate loans | — |  | 163 |  | 2 |  | 15,049 |  |  | 65 |  | 14,859 |  |  | 125 |
Commercial lease financing | — |  | 35 |  | — |  | 4,688 |  |  | — |  | 4,688 |  |  | — |
Total commercial loans | 17 |  | 731 |  | 3 |  | 68,032 |  |  | 318 |  | 67,541 |  |  | 173 |
Real estate — residential mortgage | 4 |  | 1 |  | 2 |  | 7,023 |  |  | 43 |  | 6,723 |  |  | 257 |
Home equity loans | 9 |  | 21 |  | 1 |  | 10,274 |  |  | 126 |  | 10,135 |  |  | 13 |
Consumer direct loans | — |  | 34 |  | — |  | 3,513 |  |  | 4 |  | 3,506 |  |  | 3 |
Credit cards | — |  | 47 |  | — |  | 1,130 |  |  | 3 |  | 1,127 |  |  | — |
Consumer indirect loans | 3 |  | 27 |  | — |  | 4,674 |  |  | 35 |  | 4,639 |  |  | — |
Total consumer loans | 16 |  | 130 |  | 3 |  | 26,614 |  |  | 211 |  | 26,130 |  |  | 273 |
Total ALLL — continuing operations | 33 |  | 861 |  | 6 |  | 94,646 |  |  | 529 |  | 93,671 |  |  | 446 |
Discontinued operations | 2 |  | 8 |  | — |  | 865 |  | (a) | 23 |  | 842 |  | (a) | — |
Total ALLL — including discontinued operations | $ | 35 |  | $ | 869 |  | $ | 6 |  | $ | 95,511 |  |  | $ | 552 |  | $ | 94,513 |  |  | $ | 446 |
(a) | Amount includes $2 million of loans carried at fair value that are excluded from ALLL consideration.
| Allowance | Outstanding
December 31, 2018 | Individually Evaluated for Impairment | Collectively Evaluated for Impairment | Purchased Credit Impaired | Loans |  | Individually Evaluated for Impairment | Collectively Evaluated for Impairment |  | Purchased Credit Impaired
in millions |  |
Commercial and industrial | $ | 5 |  | $ | 526 |  | $ | 1 |  | $ | 45,753 |  |  | $ | 162 |  | $ | 45,530 |  |  | $ | 61 |
Commercial real estate: |  |  |  |  |  |  |  |  |
Commercial mortgage | — |  | 139 |  | 3 |  | 14,285 |  |  | 66 |  | 14,041 |  |  | 178 |
Construction | — |  | 33 |  | — |  | 1,666 |  |  | — |  | 1,664 |  |  | 2 |
Total commercial real estate loans | — |  | 172 |  | 3 |  | 15,951 |  |  | 66 |  | 15,705 |  |  | 180 |
Commercial lease financing | — |  | 36 |  | — |  | 4,606 |  |  | — |  | 4,606 |  |  | — |
Total commercial loans | 5 |  | 734 |  | 4 |  | 66,310 |  |  | 228 |  | 65,841 |  |  | 241 |
Real estate — residential mortgage | 3 |  | 4 |  | — |  | 5,513 |  |  | 49 |  | 5,150 |  |  | 314 |
Home equity loans | 8 |  | 26 |  | 1 |  | 11,142 |  |  | 127 |  | 10,998 |  |  | 17 |
Consumer direct loans | — |  | 30 |  | — |  | 1,809 |  |  | 4 |  | 1,802 |  |  | 3 |
Credit cards | — |  | 48 |  | — |  | 1,144 |  |  | 3 |  | 1,141 |  |  | — |
Consumer indirect loans | 3 |  | 17 |  | — |  | 3,634 |  |  | 36 |  | 3,598 |  |  | — |
Total consumer loans | 14 |  | 125 |  | 1 |  | 23,242 |  |  | 219 |  | 22,689 |  |  | 334 |
Total ALLL — continuing operations | 19 |  | 859 |  | 5 |  | 89,552 |  |  | 447 |  | 88,530 |  |  | 575 |
Discontinued operations | 2 |  | 12 |  | — |  | 1,073 |  | (a) | 23 |  | 1,050 |  | (a) | — |
Total ALLL — including discontinued operations | $ | 21 |  | $ | 871 |  | $ | 5 |  | $ | 90,625 |  |  | $ | 470 |  | $ | 89,580 |  |  | $ | 575 |
(a) | Amount includes $2 million of loans carried at fair value that are excluded from ALLL consideration.
Changes in the liability for credit losses on unfunded lending-related commitments are summarized as follows:
Year ended December 31, in millions | 2019 | 2018 | 2017
Balance at beginning of period | $ | 64 |  | $ | 57 |  | $ | 55 |
Provision (credit) for losses on lending-related commitments | 4 |  | 6 |  | 2 |
Balance at end of period | $ | 68 |  | $ | 63 |  | $ | 57 |
Schedule of Changes in Outstanding Unpaid Principal Balance, Carrying Amount, and Accretable Yield | We have PCI loans from two separate acquisitions, one in 2012 and one in 2016. The following tables present the rollforward of the accretable yield and the beginning and ending outstanding unpaid principal balance and carrying amount of all PCI loans for the for the periods indicated:
| Twelve Months Ended December 31,
| 2019 |  | 2018
in millions | Accretable Yield | Carrying Amount | Outstanding Unpaid Principal Balance |  | Accretable Yield | Carrying Amount | Outstanding Unpaid Principal Balance
Balance at beginning of period | $ | 117 |  | $ | 571 |  | $ | 607 |  |  | $ | 131 |  | $ | 738 |  | $ | 803 |
Additions | — |  |  |  |  | — |  |  |
Accretion | (34 | ) |  |  |  | (42 | ) |  |
Net reclassifications from non-accretable to accretable | 25 |  |  |  |  | 50 |  |  |
Payments received, net | (14 | ) |  |  |  | (21 | ) |  |
Disposals | — |  |  |  |  | — |  |  |
Loans charged off | — |  |  |  |  | (1 | ) |  |
Balance at end of period | $ | 94 |  | $ | 439 |  | $ | 462 |  |  | $ | 117 |  | $ | 571 |  | $ | 607 |

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