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CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($)
$ in Millions
Mar. 31, 2025
Dec. 31, 2024
Assets    
Cash and due from banks $ 3,009 $ 3,014
Other short-term investments [1] 14,965 17,120
Available-for-sale debt and other securities (amortized cost of $43,445 and $43,878) 39,747 39,547
Held-to-maturity securities 11,185 11,278
Trading debt securities 1,159 1,185
Equity securities 494 341
Loans and leases held for sale (includes $445 and $574 of residential mortgage loans measured at fair value) 473 640
Portfolio loans and leases [1] 122,191 119,791
Allowance for loan and lease losses [1] (2,384) (2,352)
Portfolio loans and leases, net 119,807 117,439
Bank premises and equipment (includes $14 and $14 held for sale) 2,506 2,475
Operating lease equipment 314 319
Goodwill 4,918 4,918
Intangible assets 82 90
Servicing rights 1,663 1,704
Other assets [1] 12,347 12,857
Total Assets 212,669 212,927
Deposits:    
Noninterest-bearing deposits 40,855 41,038
Interest-bearing deposits 124,650 126,214
Total deposits 165,505 167,252
Federal funds purchased 227 204
Other short-term borrowings 5,457 4,450
Accrued taxes, interest and expenses 1,722 2,137
Other liabilities [1] 4,816 4,902
Long-term debt [1] 14,539 14,337
Total Liabilities 192,266 193,282
Equity    
Common stock [2] 2,051 2,051
Preferred stock [3] 2,116 2,116
Capital surplus 3,773 3,804
Retained earnings 24,377 24,150
Accumulated other comprehensive loss (3,895) (4,636)
Treasury stock [2] (8,019) (7,840)
Total Equity 20,403 19,645
Total Liabilities and Equity $ 212,669 $ 212,927
[1] Includes $47 and $51 of other short-term investments, $874 and $1,000 of portfolio loans and leases, $(16) and $(19) of ALLL, $6 and $5 of other assets, $12 and $12 of other liabilities and $774 and $889 of long-term debt from consolidated VIEs that are included in their respective captions above at March 31, 2025 and December 31, 2024, respectively. For further information, refer to Note 7.
[2] Common shares: Stated value $2.22 per share; authorized 2,000,000,000; outstanding at March 31, 2025 – 667,272,067 (excludes 256,620,514 treasury shares), December 31, 2024 – 669,853,830 (excludes 254,038,751 treasury shares).
[3] 500,000 shares of no par value preferred stock were authorized at both March 31, 2025 and December 31, 2024. There were 422,000 unissued shares of undesignated no par value preferred stock at both March 31, 2025 and December 31, 2024. 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 March 31, 2025 and December 31, 2024. There were 300,000 unissued shares of undesignated no par value Class B preferred stock at both March 31, 2025 and December 31, 2024. Each issued share of no par value Class B preferred stock has a liquidation preference of $1,000.