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v3.26.1

Borrowings (Tables) | 6 Months Ended
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Jun. 30, 2026
Debt Disclosure [Abstract] |
Schedule of Components of Short-Term Borrowings | The following table presents a summary of our short-term borrowings:
Dollars in millions | June 30, 2026 | December 31, 2025 |
Securities sold under repurchase agreements | $ | 5 |  | $ | 13 |  |
Other short-term borrowings | 3,680 |  | 1,071 |  |
Schedule of Components of Long-Term Debt | The following table presents the contractual rates and maturity dates of our long-term debt as of June 30, 2026 and the carrying values as of June 30, 2026 and December 31, 2025. We use interest rate swaps and caps, which modify the repricing characteristics of certain long-term debt, to manage interest rate risk. For more information about such financial instruments, see Note 7 (“Derivatives and Hedging Activities”).
| June 30, 2026 | June 30, 2026 | December 31, 2025
Dollars in millions | Stated Rate | Maturity | Carrying Value
Parent Company |  |  |  |
Senior notes | 2.25% - 6.40% | 2027 - 2037 | $ | 5,358 |  | $ | 4,659 |
Junior subordinated debentures | 4.69% - 7.75% | 2028 - 2037 | 445 |  | 447 |
Total parent company |  |  | $ | 5,803 |  | $ | 5,106 |
Subsidiaries |  |  |  |
Senior notes | 3.76% - 5.85% | 2027 - 2039 | $ | 2,210 |  | $ | 2,229 |
Subordinated notes | 3.90% - 6.95% | 2028 - 2032 | 1,322 |  | 1,932 |
Federal Home Loan Bank advances | 1.39% - 7.36% | 2026 - 2042 | 1,556 |  | 560 |
Other long-term debt(a) |  |  | 76 |  | 90 |
Total subsidiaries |  |  | $ | 5,164 |  | $ | 4,811 |
Total long-term debt |  |  | $ | 10,967 |  | $ | 9,917 |
(a)Includes debt associated with secured borrowings, investment fund financing, and capital lease obligations.

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