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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2019
Income Tax Disclosure [Abstract] |
Schedule of Components of Consolidated Statements of Income and Equity | The aggregate amount of income taxes included in the Consolidated Statements of Income and the Consolidated Statements of Equity for the years ended December 31, were as follows:
(Dollars in thousands) |  | 2019 |  | 2018 |  | 2017
Consolidated Statements of Income: |  |  |  |  |  |
Income tax expense/(benefit) |  | $ | 133,291 |  |  | $ | 157,602 |  |  | $ | 131,892 |
Consolidated Statements of Equity: |  |  |  |  |  |  |  |  |
Income tax expense/(benefit) related to: |  |  |  |  |  |  |  |  |
Net unrealized gains/(losses) on pension and other postretirement plans |  | 4,876 |  |  | (177 | ) |  | (832 | )
Net unrealized gains/(losses) on securities available-for-sale |  | 35,062 |  |  | (16,054 | ) |  | (2,955 | )
Net unrealized gains/(losses) on cash flow hedges |  | 5,035 |  |  | (1,360 | ) |  | (3,163 | )
Total |  | $ | 178,264 |  |  | $ | 140,011 |  |  | $ | 124,942 |
Schedule of Components of Income Tax Expense/(Benefit) | The components of income tax expense/(benefit) for the years ended December 31, were as follows:
(Dollars in thousands) |  | 2019 |  | 2018 |  | 2017
Current: |  |  |  |  |  |
Federal |  | $ | 105,294 |  |  | $ | 44,088 |  |  | $ | 10,012 |
State |  | 13,640 |  |  | 9,957 |  |  | 879 |
Deferred: |  |  |  |  |  |  |  |
Federal |  | 5,091 |  |  | 81,852 |  |  | 114,059 |
State |  | 9,266 |  |  | 21,705 |  |  | 6,942 |
Total |  | $ | 133,291 |  |  | $ | 157,602 |  |  | $ | 131,892 |
Schedule of Computation of Income Tax Expense Differed from The Amounts Computed By Applying Statutory Federal Income Tax Rate To Income/(Loss) From Continuing Operations Before Income Taxes | A reconciliation of expected income tax expense/(benefit) at the federal statutory rate of 21 percent for 2019 and 2018, respectively, and 35 percent for 2017 to the total income tax expense follows:
(Dollars in thousands) |  | 2019 |  | 2018 |  | 2017
Federal income tax rate |  | 21% |  | 21% |  | 35%
Tax computed at statutory rate |  | $ | 122,989 |  |  | $ | 149,963 |  |  | $ | 108,105 |
Increase/(decrease) resulting from: |  |  |  |  |  |  |  |  |
State income taxes, net of federal income tax benefit |  | 15,319 |  |  | 24,553 |  |  | 4,753 |
Bank-owned life insurance (“BOLI”) |  | (4,915 | ) |  | (3,626 | ) |  | (8,401 | )
401(k) – employee stock ownership plan (“ESOP”) |  | (764 | ) |  | (653 | ) |  | (904 | )
Tax-exempt interest |  | (6,480 | ) |  | (6,538 | ) |  | (7,890 | )
Non-deductible expenses |  | 10,609 |  |  | 8,301 |  |  | 7,558 |
LIHTC credits and benefits, net of amortization |  | (4,419 | ) |  | (7,178 | ) |  | (5,327 | )
Other tax credits |  | — |  |  | (2,825 | ) |  | (2,480 | )
Change in valuation allowance – DTA |  | (74 | ) |  | (73 | ) |  | (40,473 | )
Other changes in unrecognized tax benefits |  | 4,044 |  |  | 6,143 |  |  | 46 |
Effect of Tax Act |  | — |  |  | (6,746 | ) |  | 82,027 |
Other |  | (3,018 | ) |  | (3,719 | ) |  | (5,122 | )
Total |  | $ | 133,291 |  |  | $ | 157,602 |  |  | $ | 131,892 |
Net DTA Balances Related to Income Tax Carryforwards | As of December 31, 2019, FHN had net deferred tax asset balances related to federal and state income tax carryforwards of $43.8 million and $1.2 million, respectively, which will expire at various dates as follows:
(Dollars in thousands) |  | Expiration Dates |  | Net Deferred Tax Asset Balance
Losses-federal |  | 2028-2033 |  | $ | 43,774 |
Net operating losses-states |  | 2020-2022 |  | 62 |
Net operating losses-states |  | 2025-2035 |  | 1,124 |
Schedule of Deferred Tax Assets and Liabilities | Temporary differences which gave rise to deferred tax assets and deferred tax liabilities on December 31, 2019 and 2018 were as follows:
(Dollars in thousands) |  | 2019 |  | 2018
Deferred tax assets: |  |  |  |  |  |
Loss reserves |  | $ | 58,251 |  |  | $ | 65,015 |
Employee benefits |  | 68,254 |  |  | 64,843 |
Accrued expenses |  | 4,340 |  |  | 15,763 |
Lease liability |  | 55,543 |  |  | — |
Federal loss carryforwards |  | 43,774 |  |  | 49,821 |
State loss carryforwards |  | 1,186 |  |  | 7,225 |
Investment in debt securities (ASC 320) (a) |  | — |  |  | 24,863 |
Other |  | 19,255 |  |  | 27,168 |
Gross deferred tax assets |  | 250,603 |  |  | 254,698 |
Valuation allowance |  | — |  |  | (74 | )
Deferred tax assets after valuation allowance |  | $ | 250,603 |  |  | $ | 254,624 |
Deferred tax liabilities: |  |  |  |  |  |
Depreciation and amortization |  | $ | 50,725 |  |  | $ | 51,519 |
Investment in debt securities (ASC 320) (a) |  | 10,154 |  |  | — |
Equity investments |  | 3,656 |  |  | 7,705 |
Other intangible assets |  | 56,352 |  |  | 57,632 |
Prepaid expenses |  | 10,024 |  |  | 9,218 |
ROU lease asset |  | 50,151 |  |  | — |
Other |  | 540 |  |  | 683 |
Gross deferred tax liabilities |  | 181,602 |  |  | 126,757 |
Net deferred tax assets |  | $ | 69,001 |  |  | $ | 127,867 |
(a) Tax effects of unrealized gains and losses are tracked on a security-by-security basis.
Schedule of Rollforward of Unrecognized Tax Benefits | The rollforward of unrecognized tax benefits is shown below:
(Dollars in thousands) |  |
Balance at December 31, 2017 |  | $ | 4,271 |
Increases related to prior year tax positions |  | 16,695 |
Increases related to current year tax positions |  | 1,576 |
Settlements |  | (2,080 | )
Lapse of statutes |  | (278 | )
Balance at December 31, 2018 |  | $ | 20,184 |
Increases related to prior year tax positions |  | 2,522 |
Increases related to current year tax positions |  | 2,170 |
Lapse of statutes |  | (460 | )
Balance at December 31, 2019 |  | $ | 24,416 |

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