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Accumulated Other Comprehensive Loss | 9 Months Ended
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Sep. 30, 2025
Equity [Abstract] |
Accumulated Other Comprehensive Loss | Accumulated Other Comprehensive Loss The table below summarizes the changes in AOCL, net of tax:
| Debt Securities AFS |  | Cash Flow Hedges |  | Pension and Post-retirement Plans |  | Total
Three Months Ended September 30, 2025 |  |  |  |  |  |  |
Balance, beginning of period | $ | (544) |  |  | $ | 35 |  |  | $ | (33) |  |  | $ | (542) |
Other comprehensive income (loss) before reclassification, net of tax(1) | 50 |  | — |  | — |  | 50
Amounts reclassified from AOCL, net of tax | — |  | (4) |  | 1 |  | (3)
Other comprehensive income (loss), net of tax | 50 |  | (4) |  | 1 |  | 47
Balance, end of period | $ | (494) |  |  | $ | 31 |  |  | $ | (32) |  |  | $ | (495) |
Three Months Ended September 30, 2024 |  |  |  |  |  |  |
Balance, beginning of period | $ | (674) |  |  | $ | 88 |  |  | $ | (28) |  |  | $ | (614) |
Other comprehensive income (loss) before reclassification, net of tax(1) | 206 |  | (1) |  | 1 |  | 206
Amounts reclassified from AOCL, net of tax | — |  | (13) |  | — |  | (13)
Other comprehensive income (loss), net of tax | 206 |  | (14) |  | 1 |  | 193
Balance, end of period | $ | (468) |  |  | $ | 74 |  |  | $ | (27) |  |  | $ | (421) |
Nine Months Ended September 30, 2025 |  |  |  |  |  |  |
Balance, beginning of period | $ | (653) |  |  | $ | 47 |  |  | $ | (34) |  |  | $ | (640) |
Other comprehensive income (loss) before reclassification, net of tax(2) | 159 |  | — |  | — |  | 159
Amounts reclassified from AOCL, net of tax | — |  | (16) |  | 2 |  | (14)
Other comprehensive income (loss), net of tax | 159 |  | (16) |  | 2 |  | 145
Balance, end of period | $ | (494) |  |  | $ | 31 |  |  | $ | (32) |  |  | $ | (495) |
Nine Months Ended September 30, 2024 |  |  |  |  |  |  |
Balance, beginning of period | $ | (581) |  |  | $ | 10 |  |  | $ | (28) |  |  | $ | (599) |
Other comprehensive income (loss) before reclassification, net of tax(2) | 113 |  | 106 |  | (1) |  | 218
Amounts reclassified from AOCL, net of tax | — |  | (42) |  | 2 |  | (40)
Other comprehensive income (loss), net of tax | 113 |  | 64 |  | 1 |  | 178
Balance, end of period | $ | (468) |  |  | $ | 74 |  |  | $ | (27) |  |  | $ | (421) |
(1)During the three months ended September 30, 2025 and 2024, the tax impact on amount of gain (loss) recognized in AOCL on cash flow hedges was immaterial. During the three months ended September 30, 2025 and 2024, the tax impact on amount of gain (loss) recognized in AOCL on debt securities AFS was $(18) million and $(71) million, respectively. (2)During the nine months ended September 30, 2025 and 2024, the tax impact on amount of gain (loss) recognized in AOCL on cash flow hedges was immaterial and $(36) million, respectively. During the nine months ended September 30, 2025 and 2024, the tax impact on amount of gain (loss) recognized in debt securities AFS was $(56) million and $(40) million, respectively. At September 30, 2025, we had $31 million (net-of-tax) of unrealized gains related to terminated cash flow hedges recorded in AOCL. We had $47 million (net-of-tax) of unrealized gains related to terminated cash flow hedges recorded in AOCL at December 31, 2024. Amounts reported in AOCL related to derivatives will be reclassified to interest expense as interest payments are made on our variable-rate borrowings. We will recognize $27 million of lower interest expense over the next rolling twelve-month period related to the reclassification. The following table summarizes the amounts reclassified from AOCL, net of tax:
| Amount Reclassified out of AOCL |
| Three Months Ended September 30, |  | Nine Months Ended September 30, |
| 2025 |  | 2024 |  | 2025 |  | 2024 | Affected Line Item in the Condensed Consolidated Statements of (Loss) Income
Cash Flow Hedges: |  |  |  |  |  |  |  |
Realized gain on cash flow hedges | $ | 6 |  |  | $ | 18 |  |  | $ | 22 |  |  | $ | 57 |  | Interest expense - Borrowed funds
Tax benefit (expense) | (2) |  |  | (5) |  |  | (6) |  |  | (15) |  | Income tax (benefit)
| $ | 4 |  |  | $ | 13 |  |  | $ | 16 |  |  | $ | 42 |  |
Pension and Post-retirement Plans: |  |  |  |  |  |  |  |
Amortization of actuarial losses | (1) |  |  | (1) |  |  | (3) |  |  | (3) |  | General and administrative
Tax benefit (expense) | — |  |  | 1 |  |  | 1 |  |  | 1 |  | Income tax (benefit)
| $ | (1) |  |  | $ | — |  |  | $ | (2) |  |  | $ | (2) |  |
Amounts reclassified from AOCL, net of tax | $ | 3 |  |  | $ | 13 |  |  | $ | 14 |  |  | $ | 40 |  |

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