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Variable Interest Entities (Tables) | 12 Months Ended
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Dec. 31, 2022
Variable Interest Entities [Abstract] |
Summary Of VIEs Consolidated By FHN | The following table summarizes the carrying value of assets and liabilities associated with rabbi trusts used for deferred compensation plans which are consolidated by FHN as of December 31, 2022 and 2021: Table 8.20.1 CONSOLIDATED VIEs
(Dollars in millions) |  |  | December 31, 2022 |  |  | December 31, 2021
Assets: |  |  |  |  |  |
Other assets |  |  | $ | 181 |  |  |  | $ | 205 |
Liabilities: |  |  |  |  |  |
Other liabilities |  |  | $ | 150 |  |  |  | $ | 179 |
Summary of the Impact of Qualifying LIHTC Investments | The following table summarizes the impact to income tax expense on the Consolidated Statements of Income for the years ended December 31, 2022, 2021 and 2020 for LIHTC investments accounted for under the proportional amortization method. Table 8.20.2 LIHTC IMPACTS ON TAX EXPENSE
(Dollars in millions) |  | 2022 |  | 2021 |  | 2020
Income tax expense (benefit): |  |  |  |  |  |
Amortization of qualifying LIHTC investments |  | $ | 44 |  |  | $ | 26 |  |  | $ | 23 |
Low income housing tax credits |  | (48) |  |  | (32) |  |  | (22) |
Other tax benefits related to qualifying LIHTC investments |  | (12) |  |  | (7) |  |  | (10) |
Summary Of VIEs Not Consolidated By FHN | The following tables summarize FHN’s nonconsolidated VIEs as of December 31, 2022 and 2021: Table 8.20.3 NONCONSOLIDATED VIEs AT DECEMBER 31, 2022
(Dollars in millions) |  | Maximum Loss Exposure |  | Liability Recognized |  | Classification
Type: |  |  |  |  |  |
Low income housing partnerships |  | $ | 463 |  |  | $ | 154 |  |  | (a)
Other tax credit investments (b) |  | 85 |  |  | 67 |  |  | Other assets
Small issuer trust preferred holdings (c) |  | 171 |  |  | — |  |  | Loans and leases
On-balance sheet trust preferred securitization |  | 27 |  |  | 87 |  |  | (d)
Holdings of agency mortgage-backed securities (c) |  | 8,652 |  |  | — |  |  | (e)
Commercial loan troubled debt restructurings (f) |  | 53 |  |  | — |  |  | Loans and leases
Proprietary trust preferred issuances (g) |  | — |  |  | 167 |  |  | Term borrowings
(a) Maximum loss exposure represents $309 million of current investments and $154 million of accrued contractual funding commitments. Accrued funding commitments represent unconditional contractual obligations for future funding events and are recognized in other liabilities. FHN currently expects to be required to fund these accrued commitments by the end of 2024. (b) Maximum loss exposure represents the value of current investments. (c) Maximum loss exposure represents the value of current investments. A liability is not recognized as FHN is solely a holder of the trusts’ securities. (d) Includes $112 million classified as loans and leases and $2 million classified as trading securities, which are offset by $87 million classified as term borrowings. (e) Includes $205 million classified as trading securities, $1.4 billion classified as securities held to maturity, and $7.1 billion classified as securities available for sale. (f) Maximum loss exposure represents $53 million of current receivables with no additional contractual funding commitments on loans related to commercial borrowers involved in a troubled debt restructuring. (g) No exposure to loss due to nature of FHN's involvement. Table 8.20.4 NONCONSOLIDATED VIEs AT DECEMBER 31, 2021
(Dollars in millions) |  | Maximum Loss Exposure |  | Liability Recognized |  | Classification
Type: |  |  |  |  |  |
Low income housing partnerships |  | $ | 382 |  |  | $ | 129 |  |  | (a)
Other tax credit investments (b) |  | 77 |  |  | 56 |  |  | Other assets
Small issuer trust preferred holdings (c) |  | 195 |  |  | — |  |  | Loans and leases
On-balance sheet trust preferred securitization |  | 27 |  |  | 87 |  |  | (d)
Holdings of agency mortgage-backed securities (c) |  | 8,550 |  |  | — |  |  | (e)
Commercial loan troubled debt restructurings (f) |  | 98 |  |  | — |  |  | Loans and leases
Proprietary trust preferred issuances (g) |  | — |  |  | 167 |  |  | Term borrowings
(a)Maximum loss exposure represents $253 million of current investments and $129 million of accrued contractual funding commitments. Accrued funding commitments represent unconditional contractual obligations for future funding events and are recognized in other liabilities. FHN currently expects to be required to fund these accrued commitments by the end of 2024. (b)Maximum loss exposure represents the value of current investments. (c)Maximum loss exposure represents the value of current investments. A liability is not recognized as FHN is solely a holder of the trusts’ securities. (d)Includes $112 million classified as loans and leases and $2 million classified as trading securities, which are offset by $87 million classified as term borrowings. (e)Includes $526 million classified as trading securities, $712 million classified as securities held to maturity, and $7.3 billion classified as securities available for sale. (f)Maximum loss exposure represents $94 million of current receivables and $4 million of contractual funding commitments on loans related to commercial borrowers involved in a troubled debt restructuring. (g)No exposure to loss due to nature of FHN's involvement.

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