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Preferred Stock | 3 Months Ended
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Mar. 31, 2021
Equity [Abstract] |
Preferred Stock | Preferred Stock The following table presents a summary of FHN's non-cumulative perpetual preferred stock:
(Dollars in millions) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | March 31, 2021 |  | December 31, 2020
|  | Issuance Date |  | Earliest Redemption Date (a) |  |  |  |  |  | Annual Dividend Rate |  | Dividend Payments |  | Shares Outstanding |  | Liquidation Amount |  | Carrying Amount |  | Carrying Amount
Series A |  | 1/31/2013 |  | 4/10/2018 |  |  |  |  |  | 6.200 | % |  | Quarterly |  | 1,000 |  |  | $ | 100 |  |  | $ | 96 |  |  | $ | 96 |
Series B |  | 7/2/2020 |  | 8/1/2025 |  |  |  |  |  | 6.625 | % | (b) | Semi-annually |  | 8,000 |  |  | 80 |  |  | 77 |  |  | 77 |
Series C |  | 7/2/2020 |  | 5/1/2026 |  |  |  |  |  | 6.600 | % | (c) | Quarterly |  | 5,750 |  |  | 58 |  |  | 59 |  |  | 59 |
Series D |  | 7/2/2020 |  | 5/1/2024 |  |  |  |  |  | 6.100 | % | (d) | Semi-annually |  | 10,000 |  |  | 100 |  |  | 93 |  |  | 93 |
Series E |  | 5/28/2020 |  | 10/10/2025 |  |  |  |  |  | 6.500 | % |  | Quarterly |  | 1,500 |  |  | 150 |  |  | 145 |  |  | 145 |
|  |  |  |  |  |  |  |  |  |  |  |  |  | 26,250 |  |  | $ | 488 |  |  | $ | 470 |  |  | $ | 470 |
(a) Denotes earliest optional redemption date. Earlier redemption is possible, at FHN's election, if certain regulatory capital events occur. (b) Fixed dividend rate will reset on August 1, 2025 to three-month LIBOR plus 4.262%. (c) Fixed dividend rate will reset on May 1, 2026 to three-month LIBOR plus 4.920%. (d) Fixed dividend rate will reset on May 1, 2024 to three-month LIBOR plus 3.859%. Subsidiary Preferred Stock First Horizon Bank has issued 300,000 shares of Class A Non-Cumulative Perpetual Preferred Stock (Class A Preferred Stock) with a liquidation preference of $1,000 per share. Dividends on the Class A Preferred Stock, if declared, accrue and are payable each quarter, in arrears, at a floating rate equal to the greater of the three month LIBOR plus 0.85% or 3.75% per annum. These securities qualify fully as Tier 1 capital for First Horizon Bank, while for FHN they qualify partially as Tier 1 capital and partially as Tier 2 capital. On March 31, 2021 and December 31, 2020, $295 million of Class A Preferred Stock was recognized as Noncontrolling interest on the Consolidated Balance Sheets.

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(e)(1)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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