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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Assets    
Cash and due from banks $ 3,014 $ 3,142
Other short-term investments [1] 17,120 22,082
Available-for-sale debt and other securities 39,547 50,419
Held-to-maturity securities 11,278 2
Trading debt securities 1,185 899
Equity securities 341 613
Loans and leases held for sale 640 378
Total portfolio loans and leases 119,791 117,234
Allowance for loan and lease losses [1] (2,352) (2,322)
Portfolio loans and leases, net 117,439 114,912
Bank premises and equipment 2,475 2,349
Operating lease equipment 319 459
Goodwill 4,918 4,919
Intangible assets 90 125
Servicing rights 1,704 1,737
Other assets [1] 12,857 12,538
Total Assets 212,927 214,574
Deposits:    
Noninterest-bearing deposits 41,038 43,146
Interest-bearing deposits 126,214 125,766
Total deposits 167,252 168,912
Federal funds purchased 204 193
Other short-term borrowings 4,450 2,861
Accrued taxes, interest and expenses 2,137 2,195
Other liabilities [1] 4,902 4,861
Long-term debt [1] 14,337 16,380
Total Liabilities 193,282 195,402
Equity    
Common stock [2] 2,051 2,051
Preferred stock [3] 2,116 2,116
Capital surplus 3,804 3,757
Retained earnings 24,150 22,997
Accumulated other comprehensive loss (4,636) (4,487)
Treasury stock [2] (7,840) (7,262)
Total Equity 19,645 19,172
Total Liabilities and Equity $ 212,927 $ 214,574
[1] Includes $51 and $55 of other short-term investments, $1,000 and $1,573 of portfolio loans and leases, $(19) and $(28) of ALLL, $5 and $10 of other assets, $12 and $14 of other liabilities and $889 and $1,409 of long-term debt from consolidated VIEs that are included in their respective captions above at December 31, 2024 and 2023, respectively. For further information, refer to Note 12.
[2] Common shares: Stated value $2.22 per share; authorized 2,000,000,000; outstanding at December 31, 2024 – 669,853,830 (excludes 254,038,751 treasury shares), 2023 – 681,124,810 (excludes 242,767,771 treasury shares).
[3]
(c)500,000 shares of no par value preferred stock were authorized at both December 31, 2024 and 2023. There were 422,000 unissued shares of undesignated no par value preferred stock at both December 31, 2024 and 2023. Each issued share of no par value preferred stock has a liquidation preference of $25,000. 500,000 shares of no par value Class B preferred stock were authorized at both December 31, 2024 and 2023. There were 300,000 unissued shares of undesignated no par value Class B preferred stock at both December 31, 2024 and 2023. Each issued share of no par value Class B preferred stock has a liquidation preference of $1,000.