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Derivatives (Tables) | 3 Months Ended
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Mar. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Derivatives Associated With Fixed Income Trading Activities | The following tables summarize FHN’s derivatives associated with fixed income trading activities as of March 31, 2020 and December 31, 2019:
|  | March 31, 2020
(Dollars in thousands) |  | Notional |  | Assets |  | Liabilities
Customer interest rate contracts |  | $ | 3,395,932 |  |  | $ | 232,886 |  |  | $ | 1,509 |
Offsetting upstream interest rate contracts |  | 3,395,932 |  |  | 8,822 |  |  | 16,735 |
Forwards and futures purchased |  | 8,641,017 |  |  | 156,687 |  |  | 8,508 |
Forwards and futures sold |  | 9,435,099 |  |  | 8,829 |  |  | 163,096 |
|  | December 31, 2019
(Dollars in thousands) |  | Notional |  | Assets |  | Liabilities
Customer interest rate contracts |  | $ | 2,697,522 |  |  | $ | 65,768 |  |  | $ | 6,858 |
Offsetting upstream interest rate contracts |  | 2,697,522 |  |  | 2,583 |  |  | 3,994 |
Option contracts purchased |  | 40,000 |  |  | 131 |  |  | — |
Forwards and futures purchased |  | 9,217,350 |  |  | 17,029 |  |  | 3,187 |
Forwards and futures sold |  | 9,403,112 |  |  | 3,611 |  |  | 16,620 |
Derivatives Associated With Interest Rate Risk Management Activities | The following tables summarize FHN’s derivatives associated with interest rate risk management activities as of March 31, 2020 and December 31, 2019:
|  | March 31, 2020
(Dollars in thousands) |  | Notional |  | Assets |  | Liabilities
Customer Interest Rate Contracts Hedging |  |  |  |  |  |
Hedging Instruments and Hedged Items: |  |  |  |  |  |
Customer interest rate contracts |  | $ | 3,433,278 |  |  | $ | 282,434 |  |  | $ | 503 |
Offsetting upstream interest rate contracts |  | 3,433,278 |  |  | 5,750 |  |  | 23,066 |
Debt Hedging |  |  |  |  |  |
Hedging Instruments: |  |  |  |  |  |
Interest rate swaps |  | $ | 500,000 |  |  | $ | 61 |  |  | N/A |
Hedged Items: |  |  |  |  |  |
Term borrowings: |  |  |  |  |  |
Par |  | N/A |  |  | N/A |  |  | $ | 500,000 |
Cumulative fair value hedging adjustments |  | N/A |  |  | N/A |  |  | 2,862 |
Unamortized premium/(discount) and issuance costs |  | N/A |  |  | N/A |  |  | (519 | )
Total carrying value |  | N/A |  |  | N/A |  |  | $ | 502,343 |
|  | December 31, 2019
(Dollars in thousands) |  | Notional |  | Assets |  | Liabilities
Customer Interest Rate Contracts Hedging |  |  |  |  |  |
Hedging Instruments and Hedged Items: |  |  |  |  |  |
Customer interest rate contracts |  | $ | 3,044,067 |  |  | $ | 90,394 |  |  | $ | 3,515 |
Offsetting upstream interest rate contracts |  | 3,044,067 |  |  | 3,537 |  |  | 9,735 |
Debt Hedging |  |  |  |  |  |
Hedging Instruments: |  |  |  |  |  |
Interest rate swaps |  | $ | 500,000 |  |  | N/A |  |  | $ | 69 |
Hedged Items: |  |  |  |  |  |
Term borrowings: |  |  |  |  |  |
Par |  | N/A |  |  | N/A |  |  | $ | 500,000 |
Cumulative fair value hedging adjustments |  | N/A |  |  | N/A |  |  | (1,604 | )
Unamortized premium/(discount) and issuance costs |  | N/A |  |  | N/A |  |  | (740 | )
Total carrying value |  | N/A |  |  | N/A |  |  | $ | 497,656 |
Gains/(Losses) on Derivatives Associated with Interest Rate Risk Management Activities | The following table summarizes gains/(losses) on FHN’s derivatives associated with interest rate risk management activities for the three months ended March 31, 2020 and 2019:
|  | Three Months Ended March 31
|  | 2020 |  | 2019
(Dollars in thousands) |  | Gains/(Losses) |  | Gains/(Losses)
Customer Interest Rate Contracts Hedging |  |
Hedging Instruments and Hedged Items: |  |  |  |
Customer interest rate contracts (a) |  | $ | 195,552 |  |  | $ | 29,112 |
Offsetting upstream interest rate contracts (a) |  | (195,552 | ) |  | (29,112 | )
Debt Hedging |  |  |  |
Hedging Instruments: |  |  |  |
Interest rate swaps (b) |  | $ | 4,934 |  |  | $ | 4,279 |
Hedged Items: |  |  |  |
Term borrowings (a) (c) |  | (4,465 | ) |  | (4,266 | )
(a) | Gains/losses included in All other expense within the Consolidated Condensed Statements of Income.
(b) | Gains/losses included in the Interest expense.
(c) Represents gains and losses attributable to changes in fair value due to interest rate risk as designated in ASC 815-20 hedging relationships.
Derivative Associated With Cash Flow Hedges | The following tables summarize FHN’s derivative activities associated with cash flow hedges as of March 31, 2020 and December 31, 2019:
|  | March 31, 2020
(Dollars in thousands) |  | Notional |  | Assets |  | Liabilities
Cash Flow Hedges |  |  |  |  |  |
Hedging Instruments: |  |  |  |  |  |
Interest rate swaps |  | $ | 700,000 |  |  | $ | 187 |  |  | N/A
Hedged Items: |  |  |  |  |  |
Variability in cash flows related to debt instruments (primarily loans) |  | N/A |  |  | $ | 700,000 |  |  | N/A
|  | December 31, 2019
(Dollars in thousands) |  | Notional |  | Assets |  | Liabilities
Cash Flow Hedges |  |  |  |  |  |
Hedging Instruments: |  |  |  |  |  |
Interest rate swaps |  | $ | 900,000 |  |  | N/A |  |  | $ | 241 |
Hedged Items: |  |  |  |  |  |
Variability in cash flows related to debt instruments (primarily loans) |  | N/A |  |  | $ | 900,000 |  |  | N/A |
Gains/(Losses) on Derivatives Associated with Cash Flow Hedges | The following table summarizes gains/(losses) on FHN’s derivatives associated with cash flow hedges for the three months ended March 31, 2020 and 2019:
|  | Three Months Ended March 31
|  | 2020 |  | 2019
(Dollars in thousands) |  | Gains/(Losses) |  | Gains/(Losses)
Cash Flow Hedges |  |
Hedging Instruments: |  |  |  |
Interest rate swaps (a) |  | $ | 17,374 |  |  | $ | 7,218 |
Gain/(loss) recognized in Other comprehensive income/(loss) |  | 13,155 |  |  | 3,936 |
Gain/(loss) reclassified from AOCI into Interest income |  | (94 | ) |  | 1,451 |
(a) Approximately $9.1 million of pre-tax gains are expected to be reclassified into earnings in the next twelve months.
Derivative Assets And Collateral Received | The following table provides details of derivative assets and collateral received as presented on the Consolidated Condensed Statements of Condition as of March 31, 2020 and December 31, 2019:
|  |  |  |  |  |  |  | Gross amounts not offset in the Statements of Condition |  |
(Dollars in thousands) |  | Gross amounts of recognized assets |  | Gross amounts offset in the Statements of Condition |  | Net amounts of assets presented in the Statements of Condition (a) |  | Derivative liabilities available for offset |  | Collateral received |  | Net amount
Derivative assets: |  |  |  |  |  |  |  |  |  |  |  |
March 31, 2020 |  |  |  |  |  |  |  |  |  |  |  |
Interest rate derivative contracts |  | $ | 530,337 |  |  | $ | — |  |  | $ | 530,337 |  |  | $ | (1,974 | ) |  | $ | (303,798 | ) |  | $ | 224,565 |
Forward contracts |  | 165,516 |  |  | — |  |  | 165,516 |  |  | (89,790 | ) |  | (54,018 | ) |  | 21,708 |
|  | $ | 695,853 |  |  | $ | — |  |  | $ | 695,853 |  |  | $ | (91,764 | ) |  | $ | (357,816 | ) |  | $ | 246,273 |
December 31, 2019 |  |  |  |  |  |  |  |  |  |  |  |
Interest rate derivative contracts |  | $ | 162,344 |  |  | $ | — |  |  | $ | 162,344 |  |  | $ | (5,604 | ) |  | $ | (143,334 | ) |  | $ | 13,406 |
Forward contracts |  | 20,640 |  |  | — |  |  | 20,640 |  |  | (13,292 | ) |  | (2,000 | ) |  | 5,348 |
|  | $ | 182,984 |  |  | $ | — |  |  | $ | 182,984 |  |  | $ | (18,896 | ) |  | $ | (145,334 | ) |  | $ | 18,754 |
(a) | Included in Derivative assets on the Consolidated Condensed Statements of Condition. As of March 31, 2020 and December 31, 2019, $.4 million and $.1 million, respectively, of derivative assets have been excluded from these tables because they are generally not subject to master netting or similar agreements.
The following table provides details of derivative liabilities and collateral pledged as presented on the Consolidated Condensed Statements of Condition as of March 31, 2020 and December 31, 2019:
|  |  |  |  |  |  |  | Gross amounts not offset in the Statements of Condition |  |
(Dollars in thousands) |  | Gross amounts of recognized liabilities |  | Gross amounts offset in the Statements of Condition |  | Net amounts of liabilities presented in the Statements of Condition (a) |  | Derivative assets available for offset |  | Collateral pledged |  | Net amount
Derivative liabilities: |  |  |  |  |  |  |  |  |  |  |  |
March 31, 2020 |  |  |  |  |  |  |  |  |  |  |  |
Interest rate derivative contracts |  | $ | 41,980 |  |  | $ | — |  |  | $ | 41,980 |  |  | $ | (1,974 | ) |  | $ | (36,129 | ) |  | $ | 3,877 |
Forward contracts |  | 171,604 |  |  | — |  |  | 171,604 |  |  | (89,790 | ) |  | (81,814 | ) |  | — |
|  | $ | 213,584 |  |  | $ | — |  |  | $ | 213,584 |  |  | $ | (91,764 | ) |  | $ | (117,943 | ) |  | $ | 3,877 |
December 31, 2019 |  |  |  |  |  |  |  |  |  |  |  |
Interest rate derivative contracts |  | $ | 24,431 |  |  | $ | — |  |  | $ | 24,431 |  |  | $ | (5,604 | ) |  | $ | (18,689 | ) |  | $ | 138 |
Forward contracts |  | 19,807 |  |  | — |  |  | 19,807 |  |  | (13,292 | ) |  | (6,515 | ) |  | — |
|  | $ | 44,238 |  |  | $ | — |  |  | $ | 44,238 |  |  | $ | (18,896 | ) |  | $ | (25,204 | ) |  | $ | 138 |
(a) Included in Derivative liabilities on the Consolidated Condensed Statements of Condition. As of March 31, 2020 and December 31, 2019, $21.4 million and $23.2 million, respectively, of derivative liabilities (primarily Visa-related derivatives) have been excluded from these tables because they are generally not subject to master netting or similar agreements.
Derivative Liabilities and Collateral Pledged | The following table provides details of derivative liabilities and collateral pledged as presented on the Consolidated Condensed Statements of Condition as of March 31, 2020 and December 31, 2019:
|  |  |  |  |  |  |  | Gross amounts not offset in the Statements of Condition |  |
(Dollars in thousands) |  | Gross amounts of recognized liabilities |  | Gross amounts offset in the Statements of Condition |  | Net amounts of liabilities presented in the Statements of Condition (a) |  | Derivative assets available for offset |  | Collateral pledged |  | Net amount
Derivative liabilities: |  |  |  |  |  |  |  |  |  |  |  |
March 31, 2020 |  |  |  |  |  |  |  |  |  |  |  |
Interest rate derivative contracts |  | $ | 41,980 |  |  | $ | — |  |  | $ | 41,980 |  |  | $ | (1,974 | ) |  | $ | (36,129 | ) |  | $ | 3,877 |
Forward contracts |  | 171,604 |  |  | — |  |  | 171,604 |  |  | (89,790 | ) |  | (81,814 | ) |  | — |
|  | $ | 213,584 |  |  | $ | — |  |  | $ | 213,584 |  |  | $ | (91,764 | ) |  | $ | (117,943 | ) |  | $ | 3,877 |
December 31, 2019 |  |  |  |  |  |  |  |  |  |  |  |
Interest rate derivative contracts |  | $ | 24,431 |  |  | $ | — |  |  | $ | 24,431 |  |  | $ | (5,604 | ) |  | $ | (18,689 | ) |  | $ | 138 |
Forward contracts |  | 19,807 |  |  | — |  |  | 19,807 |  |  | (13,292 | ) |  | (6,515 | ) |  | — |
|  | $ | 44,238 |  |  | $ | — |  |  | $ | 44,238 |  |  | $ | (18,896 | ) |  | $ | (25,204 | ) |  | $ | 138 |
(a) Included in Derivative liabilities on the Consolidated Condensed Statements of Condition. As of March 31, 2020 and December 31, 2019, $21.4 million and $23.2 million, respectively, of derivative liabilities (primarily Visa-related derivatives) have been excluded from these tables because they are generally not subject to master netting or similar agreements.

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- Definition Tabular disclosure of cash flow hedges related to interest rate derivatives, including, but not limited to, the fair value of the derivatives, statement of financial position location, and statement of financial performance location of these instruments. + References No definition available. + Details
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