Recently Issued Accounting Pronouncements (Tables)

3 Months Ended

Mar. 31, 2020

Accounting Policies [Abstract]

Accounting Standards Adopted and Accounting Standards Issued and Not Expected to Have a Material Impact

We adopted the following accounting standard updates (ASU) during 2020, none of which had a material impact to our financial statements:

Standard	Description	Effective Date
2020-04	Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting	March 12, 2020
2020-03	Codification Improvements to Financial Instruments	January 1, 2020
2020-02	Financial Instruments-Credit Losses (Topic 326) and Leases (Topic 842)-Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 119 and Update to SEC Section on Effective Date Related to Accounting Standards Update No. 2016-02, Leases (Topic 842) (SEC Update)	February 6, 2020
2018-15	Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract (a consensus of the FASB Emerging Issues Task Force)	January 1, 2020
2018-13	Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement	January 1, 2020
2017-04	Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment	January 1, 2020

The following table illustrates the impact of ASC 326:

	January 1, 2020
	As Reported Under ASC 326		Pre-ASC 326 Adoption		Impact of ASC 326 Adoption
	(Dollars in millions)
Assets:
Allowance for loan losses	$	130	$	107	$	23
Liabilities:
Reserve for unfunded commitments	$	10	$	3	$	7

Standard	Description	Effective Date
2019-12	Simplifying the Accounting for Income Taxes	January 1, 2021