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Business Segment Information (Tables) | 12 Months Ended
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Dec. 31, 2023
Segment Reporting, Measurement Disclosures [Abstract] |
Schedule of Segment Financial Information | The following table presents financial information for each reportable business segment for the years ended December 31: Table 8.19.1 SEGMENT FINANCIAL INFORMATION
|  | 2023
(Dollars in millions) |  | Regional Banking |  | Specialty Banking |  | Corporate |  | Consolidated
Net interest income (expense) |  | $ | 2,354 |  |  | $ | 518 |  |  | $ | (332) |  |  | $ | 2,540 |
Provision for credit losses |  | 224 |  |  | 50 |  |  | (14) |  |  | 260 |
Noninterest income (a) |  | 433 |  |  | 209 |  |  | 285 |  |  | 927 |
Noninterest expense (b)(c)(e) |  | 1,301 |  |  | 364 |  |  | 414 |  |  | 2,079 |
Income (loss) before income taxes |  | 1,262 |  |  | 313 |  |  | (447) |  |  | 1,128 |
Income tax expense (benefit) (f) |  | 296 |  |  | 76 |  |  | (160) |  |  | 212 |
Net income (loss) |  | $ | 966 |  |  | $ | 237 |  |  | $ | (287) |  |  | $ | 916 |
Average assets |  | $ | 45,858 |  |  | $ | 20,161 |  |  | $ | 15,664 |  |  | $ | 81,683 |
Depreciation and amortization |  | 60 |  |  | — |  |  | 42 |  |  | 102 |
Expenditures for long-lived assets |  | 29 |  |  | 4 |  |  | 1 |  |  | 34 |
|  | 2022
(Dollars in millions) |  | Regional Banking |  | Specialty Banking |  | Corporate |  | Consolidated
Net interest income (expense) |  | $ | 1,954 |  |  | $ | 557 |  |  | $ | (119) |  |  | $ | 2,392 |
Provision for credit losses |  | 94 |  |  | 14 |  |  | (13) |  |  | 95 |
Noninterest income (a) |  | 443 |  |  | 312 |  |  | 60 |  |  | 815 |
Noninterest expense (b)(e) |  | 1,226 |  |  | 446 |  |  | 281 |  |  | 1,953 |
Income (loss) before income taxes |  | 1,077 |  |  | 409 |  |  | (327) |  |  | 1,159 |
Income tax expense (benefit) |  | 253 |  |  | 99 |  |  | (105) |  |  | 247 |
Net income (loss) |  | $ | 824 |  |  | $ | 310 |  |  | $ | (222) |  |  | $ | 912 |
Average assets |  | $ | 42,297 |  |  | $ | 19,965 |  |  | $ | 21,955 |  |  | $ | 84,217 |
Depreciation and amortization |  | 24 |  |  | 2 |  |  | 59 |  |  | 85 |
Expenditures for long-lived assets |  | 18 |  |  | 12 |  |  | (6) |  |  | 24 |
|  | 2021
(Dollars in millions) |  | Regional Banking |  | Specialty Banking |  | Corporate |  | Consolidated
Net interest income (expense) |  | $ | 1,764 |  |  | $ | 620 |  |  | $ | (390) |  |  | $ | 1,994 |
Provision (benefit) for credit losses |  | (229) |  |  | (64) |  |  | (17) |  |  | (310) |
Noninterest income (a) |  | 438 |  |  | 597 |  |  | 41 |  |  | 1,076 |
Noninterest expense (b)(d)(e) |  | 1,136 |  |  | 573 |  |  | 387 |  |  | 2,096 |
Income (loss) before income taxes |  | 1,295 |  |  | 708 |  |  | (719) |  |  | 1,284 |
Income tax expense (benefit) |  | 303 |  |  | 172 |  |  | (201) |  |  | 274 |
Net income (loss) |  | $ | 992 |  |  | $ | 536 |  |  | $ | (518) |  |  | $ | 1,010 |
Average assets |  | $ | 41,527 |  |  | $ | 20,789 |  |  | $ | 25,293 |  |  | $ | 87,609 |
Depreciation and amortization |  | (57) |  |  | 4 |  |  | 98 |  |  | 45 |
Expenditures for long-lived assets |  | 27 |  |  | 3 |  |  | 7 |  |  | 37 |
(a)2023 includes a $225 million gain on merger termination and a $6 million loss on equities valuation adjustments in the Corporate segment and a $7 million gain on a small FHN Financial asset disposition in the Specialty Banking segment. 2022 includes a $12 million gain on sale of mortgage servicing rights in the Specialty Banking segment and a $22 million gain related to the sale of the title insurance business, a $10 million gain on equity securities and a $6 million gain related to a fintech investment in the Corporate segment. 2021 includes a loss of $26 million related to TRUPS redemption in the Corporate segment. (b)2023 includes $51 million in merger and integration planning expenses related to the TD Transaction in the Corporate Segment. 2022 and 2021 include $136 million and $187 million, respectively, in merger and integration expenses related to the IBKC merger and TD Transaction in the Corporate segment. (c)2023 includes $10 million of restructuring costs, an FDIC special assessment of $68 million, and a $50 million contribution to the First Horizon Foundation in the Corporate segment. (d)2021 includes $37 million in asset impairments related to IBKC merger integration efforts in the Corporate segment. (e)2023, 2022 and 2021 include $15 million, $22 million and $19 million, respectively, in derivative valuation adjustments related to prior Visa Class-B share sales in the Corporate segment. (f)2023 includes $24 million in expense related to the surrender of bank owned life insurance policies and a $59 million benefit from merger-related tax items in the Corporate segment. The following table presents a disaggregation of FHN’s noninterest income by major product line and reportable segment for the years ended December 31, 2023, 2022, and 2021: Table 8.19.2 NONINTEREST INCOME DETAIL BY SEGMENT
|  | December 31, 2023
(Dollars in millions) |  | Regional Banking |  | Specialty Banking |  | Corporate |  | Consolidated
Noninterest income: |  |  |  |  |  |  |  |
Deposit transactions and cash management |  | $ | 161 |  |  | $ | 10 |  |  | $ | 8 |  |  | $ | 179 |
Fixed income (a) |  | — |  |  | 133 |  |  | — |  |  | 133 |
Brokerage, management fees and commissions |  | 90 |  |  | — |  |  | — |  |  | 90 |
Card and digital banking fees |  | 68 |  |  | 2 |  |  | 7 |  |  | 77 |
Other service charges and fees |  | 30 |  |  | 24 |  |  | — |  |  | 54 |
Trust services and investment management |  | 47 |  |  | — |  |  | — |  |  | 47 |
Mortgage banking and title income |  | — |  |  | 23 |  |  | — |  |  | 23 |
Gain on merger termination |  | — |  |  | — |  |  | 225 |  |  | 225 |
Securities gains (losses), net (b) |  | — |  |  | — |  |  | (4) |  |  | (4) |
Other income (c) |  | 37 |  |  | 17 |  |  | 49 |  |  | 103 |
Total noninterest income |  | $ | 433 |  |  | $ | 209 |  |  | $ | 285 |  |  | $ | 927 |
|  | December 31, 2022
(Dollars in millions) |  | Regional Banking |  | Specialty Banking |  | Corporate |  | Consolidated
Noninterest income: |  |  |  |  |  |  |  |
Deposit transactions and cash management |  | $ | 153 |  |  | $ | 9 |  |  | $ | 9 |  |  | $ | 171 |
Fixed income (a) |  | — |  |  | 205 |  |  | — |  |  | 205 |
Brokerage, management fees and commissions |  | 92 |  |  | — |  |  | — |  |  | 92 |
Card and digital banking fees |  | 75 |  |  | 2 |  |  | 7 |  |  | 84 |
Other service charges and fees |  | 32 |  |  | 22 |  |  | — |  |  | 54 |
Trust services and investment management |  | 48 |  |  | — |  |  | — |  |  | 48 |
Mortgage banking and title income |  | — |  |  | 68 |  |  | — |  |  | 68 |
Securities gains (losses), net (b) |  | — |  |  | — |  |  | 18 |  |  | 18 |
Other income (c) |  | 43 |  |  | 6 |  |  | 26 |  |  | 75 |
Total noninterest income |  | $ | 443 |  |  | $ | 312 |  |  | $ | 60 |  |  | $ | 815 |
|  | December 31, 2021
(Dollars in millions) |  | Regional Banking |  | Specialty Banking |  | Corporate |  | Consolidated
Noninterest income: |  |  |  |  |  |  |  |
Deposit transactions and cash management |  | $ | 157 |  |  | $ | 12 |  |  | $ | 6 |  |  | $ | 175 |
Fixed income (a) |  | — |  |  | 406 |  |  | — |  |  | 406 |
Brokerage, management fees and commissions |  | 88 |  |  | — |  |  | — |  |  | 88 |
Card and digital banking fees |  | 67 |  |  | 3 |  |  | 8 |  |  | 78 |
Other service charges and fees |  | 23 |  |  | 17 |  |  | 4 |  |  | 44 |
Trust services and investment management |  | 51 |  |  | — |  |  | — |  |  | 51 |
Mortgage banking and title income |  | — |  |  | 152 |  |  | 2 |  |  | 154 |
Securities gains (losses), net (b) |  | — |  |  | — |  |  | 13 |  |  | 13 |
Other income (c) |  | 52 |  |  | 7 |  |  | 8 |  |  | 67 |
Total noninterest income |  | $ | 438 |  |  | $ | 597 |  |  | $ | 41 |  |  | $ | 1,076 |
(a)2023, 2022 and 2021, include $42 million, $43 million, and $44 million, respectively, of underwriting, portfolio advisory, and other noninterest income in scope of ASC 606, "Revenue From Contracts With Customers. (b)Represents noninterest income excluded from the scope of ASC 606. Amount is presented for informational purposes to reconcile total noninterest income. (c)Includes letter of credit fees and insurance commissions in scope of ASC 606.

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-25 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
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