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CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($)
shares in Thousands, $ in Millions
Total
Cumulative Effect, Period of Adoption, Adjustment
Adjusted balance
Preferred Stock
Preferred Stock
Adjusted balance
Common Stock
Common Stock
Adjusted balance
Capital Surplus
Capital Surplus
Adjusted balance
Retained Earnings
Retained Earnings
Cumulative Effect, Period of Adoption, Adjustment
Retained Earnings
Adjusted balance
Accumulated Other Comprehensive Income/(Loss)
Accumulated Other Comprehensive Income/(Loss)
Adjusted balance
 [1]
Noncontrolling Interest
Noncontrolling Interest
Adjusted balance
Balance, beginning of period (in shares) at Dec. 31, 2019       1,000 1,000 311,469 311,469                  
Balance, beginning of period at Dec. 31, 2019 $ 5,076 $ (96) $ 4,980 $ 96 $ 96 $ 195 $ 195 $ 2,931 $ 2,931 $ 1,798 $ (96) $ 1,702 $ (239) [1] $ (239) $ 295 $ 295
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                
Net income 16                 13         3  
Other comprehensive income (loss) 104                       104 [1]      
Comprehensive income (loss) 120                 13     104 [1]   3  
Cash dividends declared:                                
Preferred stock (1)                 (1)            
Common stock (48)                 (48)            
Common stock repurchased (in shares)           (141)                    
Common stock repurchased (2)             (2)                
Common stock issued for:                                
Stock options and restricted stock - equity awards (in shares)           652                    
Stock options and restricted stock - equity awards 4             4                
Stock-based compensation expense 7             7                
Dividends declared - noncontrolling interest of subsidiary preferred stock (3)                           (3)  
Other (in shares) [2]           (117)                    
Other [2] (1)         $ 0   (1)                
Balance, ending of period (in shares) at Mar. 31, 2020       1,000   311,863                    
Balance, end of period at Mar. 31, 2020 5,056     $ 96   $ 195   2,939   1,666     (135) [1]   295  
Balance, beginning of period (in shares) at Dec. 31, 2019       1,000 1,000 311,469 311,469                  
Balance, beginning of period at Dec. 31, 2019 5,076 $ (96) $ 4,980 $ 96 $ 96 $ 195 $ 195 2,931 $ 2,931 1,798 $ (96) $ 1,702 (239) [1] $ (239) 295 $ 295
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                
Net income 612                              
Other comprehensive income (loss) 99                              
Comprehensive income (loss) 711                              
Balance, ending of period (in shares) at Sep. 30, 2020       26,250   554,788                    
Balance, end of period at Sep. 30, 2020 8,144     $ 470   $ 347   5,061   2,111     (140) [1]   295  
Balance, beginning of period (in shares) at Mar. 31, 2020       1,000   311,863                    
Balance, beginning of period at Mar. 31, 2020 5,056     $ 96   $ 195   2,939   1,666     (135) [1]   295  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                
Net income 57                 54         3  
Other comprehensive income (loss) 1                       1 [1]      
Comprehensive income (loss) 58                 54     1 [1]   3  
Cash dividends declared:                                
Preferred stock (2)                 (2)            
Common stock (47)                 (47)            
Preferred stock issuance (in shares)       1,500                        
Preferred stock issuance 144     $ 144                        
Common stock repurchased (in shares)           (183)                    
Common stock repurchased (1)             (1)                
Common stock issued for:                                
Stock options and restricted stock - equity awards (in shares)           679                    
Stock options and restricted stock - equity awards 0                              
Stock-based compensation expense 3             3                
Dividends declared - noncontrolling interest of subsidiary preferred stock (3)                           (3)  
Balance, ending of period (in shares) at Jun. 30, 2020       2,500   312,359                    
Balance, end of period at Jun. 30, 2020 5,208     $ 240   $ 195   2,941   1,671     (134) [1]   295  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                
Net income 539                 536         3  
Other comprehensive income (loss) (6)                       (6) [1]      
Comprehensive income (loss) 533                 536     (6) [1]   3  
Cash dividends declared:                                
Preferred stock (13)                 (13)            
Common stock (83)                 (83)            
Common stock repurchased (in shares)           (88)                    
Common stock repurchased (1)             (1)                
Common stock issued for:                                
Stock options and restricted stock - equity awards (in shares)           138                    
Stock options and restricted stock - equity awards 0                              
Issued in business combination (in shares)       23,750   243,015                    
Issued in business combination 2,497     $ 230   $ 152   2,115                
Stock-based compensation expense 12             12                
Dividends declared - noncontrolling interest of subsidiary preferred stock (3)                           (3)  
Other (in shares) [3]           (636)                    
Other [3] (6)             (6)                
Balance, ending of period (in shares) at Sep. 30, 2020       26,250   554,788                    
Balance, end of period at Sep. 30, 2020 8,144     $ 470   $ 347   5,061   2,111     (140) [1]   295  
Balance, beginning of period (in shares) at Dec. 31, 2020       26,250   555,031                    
Balance, beginning of period at Dec. 31, 2020 8,307     $ 470   $ 347   5,074   2,261     (140) [4]   295  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                
Net income 236                 233         3  
Other comprehensive income (loss) (101)                       (101) [4]      
Comprehensive income (loss) 135                 233     (101) [4]   3  
Cash dividends declared:                                
Preferred stock (8)                 (8)            
Common stock (84)                 (84)            
Common stock repurchased (in shares) [5]           (3,864)                    
Common stock repurchased [5] (62)         $ (2)   (60)                
Common stock issued for:                                
Stock options and restricted stock - equity awards (in shares)           1,208                    
Stock options and restricted stock - equity awards 12             12                
Stock-based compensation expense 10             10                
Dividends declared - noncontrolling interest of subsidiary preferred stock (3)                           (3)  
Balance, ending of period (in shares) at Mar. 31, 2021       26,250   552,375                    
Balance, end of period at Mar. 31, 2021 8,307     $ 470   $ 345   5,036   2,402     (241) [4]   295  
Balance, beginning of period (in shares) at Dec. 31, 2020       26,250   555,031                    
Balance, beginning of period at Dec. 31, 2020 8,307     $ 470   $ 347   5,074   2,261     (140) [4]   295  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                
Net income 781                              
Other comprehensive income (loss) (101)                              
Comprehensive income (loss) 680                              
Cash dividends declared:                                
Call of preferred stock                   (5)            
Balance, ending of period (in shares) at Sep. 30, 2021       26,750   541,860                    
Balance, end of period at Sep. 30, 2021 8,532     $ 520   $ 339   4,866   2,753     (241) [4]   295  
Balance, beginning of period (in shares) at Mar. 31, 2021       26,250   552,375                    
Balance, beginning of period at Mar. 31, 2021 8,307     $ 470   $ 345   5,036   2,402     (241) [4]   295  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                
Net income 311                 308         3  
Other comprehensive income (loss) 38                       38 [4]      
Comprehensive income (loss) 349                 308     38 [4]   3  
Cash dividends declared:                                
Preferred stock (8)                 (8)            
Common stock (85)                 (85)            
Preferred stock issuance (in shares)       1,500                        
Preferred stock issuance 145     $ 145                        
Call of preferred stock (in shares)       (1,000)                        
Call of preferred stock (100)     $ (95)           (5)            
Common stock repurchased (in shares) [5]           (3,435)                    
Common stock repurchased [5] (64)         $ (3)   (61)                
Common stock issued for:                                
Stock options and restricted stock - equity awards (in shares)           1,925                    
Stock options and restricted stock - equity awards 13         $ 2   11                
Stock-based compensation expense 11             11                
Dividends declared - noncontrolling interest of subsidiary preferred stock (3)                           (3)  
Balance, ending of period (in shares) at Jun. 30, 2021       26,750   550,865                    
Balance, end of period at Jun. 30, 2021 8,565     $ 520   $ 344   4,997   2,612     (203) [4]   295  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                
Net income 235                 232         3  
Other comprehensive income (loss) (38)                       (38) [4]      
Comprehensive income (loss) 197                 232     (38) [4]   3  
Cash dividends declared:                                
Preferred stock (8)                 (8)            
Common stock (83)                 (83)            
Common stock repurchased (in shares) [5]           (9,235)                    
Common stock repurchased [5] (146)         $ (5)   (141)                
Common stock issued for:                                
Stock options and restricted stock - equity awards (in shares)           230                    
Stock-based compensation expense 10             10                
Dividends declared - noncontrolling interest of subsidiary preferred stock (3)                           (3)  
Balance, ending of period (in shares) at Sep. 30, 2021       26,750   541,860                    
Balance, end of period at Sep. 30, 2021 $ 8,532     $ 520   $ 339   $ 4,866   $ 2,753     $ (241) [4]   $ 295  
[1] Due to the nature of the preferred stock issued by FHN and its subsidiaries, all components of other comprehensive income (loss) have been attributed solely to FHN as the controlling interest holder.
[2] Represents shares canceled in connection with the resolution of remaining CBF dissenters' appraisal process.
[3] Represents shares canceled to cover taxes on the IBKC equity compensation grants that automatically vested as part of the merger.
[4] Due to the nature of the preferred stock issued by FHN and its subsidiaries, all components of other comprehensive income (loss) have been attributed solely to FHN as the controlling interest holder.
[5] Includes $59 million, $57 million and $141 million repurchased under share repurchase programs for the three months ended March 31, 2021, June 30, 2021, and September 30, 2021, respectively.