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Derivatives (Tables)
 12 Months Ended
Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivatives Associated With Fixed Income Trading Activities The following table summarizes derivatives associated with FHNF's trading activities as of December 31, 2022 and 2021:
Table 8.21.1
DERIVATIVES ASSOCIATED WITH TRADING
 December 31, 2022
(Dollars in millions)NotionalAssetsLiabilities
Customer interest rate contracts$3,076 $3 $270 
Offsetting upstream interest rate contracts3,076 91 6 
Option contracts purchased40 — — 
Forwards and futures purchased1,127 5 2 
Forwards and futures sold1,256 4 5 
 December 31, 2021
(Dollars in millions)NotionalAssetsLiabilities
Customer interest rate contracts$3,587 $84 $41 
Offsetting upstream interest rate contracts3,587 4 8 
Option contracts purchased13 — — 
Forwards and futures purchased4,430 2 9 
Forwards and futures sold5,044 10 2 
Derivatives Associated With Interest Rate Risk Management Activities The following table summarizes FHN’s derivatives associated with interest rate risk management activities as of December 31, 2022 and 2021:
Table 8.21.2
DERIVATIVES ASSOCIATED WITH INTEREST RATE RISK MANAGEMENT
 December 31, 2022
(Dollars in millions)NotionalAssetsLiabilities
Customer Interest Rate Contracts Hedging 
Hedging Instruments and Hedged Items: 
Customer interest rate contracts$8,377 $3 $570 
Offsetting upstream interest rate contracts8,377 351 5 
 December 31, 2021
(Dollars in millions)NotionalAssetsLiabilities
Customer Interest Rate Contracts Hedging
Hedging Instruments and Hedged Items: 
Customer interest rate contracts$8,037 $202 $29 
Offsetting upstream interest rate contracts8,037 4 15 
Gains/(Losses) on Derivatives Associated with Interest Rate Risk Management Activities
The following table summarizes gains (losses) on FHN’s derivatives associated with interest rate risk management activities for the years ended December 31, 2022, 2021, and 2020:
Table 8.21.3
DERIVATIVE GAINS (LOSSES) ASSOCIATED WITH INTEREST RATE RISK MANAGEMENT
Year Ended December 31,
202220212020
(Dollars in millions)Gains (Losses)Gains (Losses)Gains (Losses)
Customer Interest Rate Contracts Hedging
Hedging Instruments and Hedged Items:
Customer interest rate contracts (a)$(744)$(268)$357 
Offsetting upstream interest rate contracts (a)744 268 (357)
Debt Hedging
Hedging Instruments:
Interest rate swaps (b)$— $— $2 
Hedged Items:
Term borrowings (a) (c)— — (2)
(a)Gains (losses) included in other expense within the Consolidated Statements of Income.
(b)Gains (losses) included in interest expense.
(c)Represents gains and losses attributable to changes in fair value due to interest rate risk as designated in ASC 815-20 hedging relationships.
Derivative Associated With Cash Flow Hedges The following table summarizes FHN’s derivative activities associated with cash flow hedges as of December 31, 2022 and 2021:
Table 8.21.4
DERIVATIVES ASSOCIATED WITH CASH FLOW HEDGES
 December 31, 2022
(Dollars in millions)NotionalAssetsLiabilities
Cash Flow Hedges 
Hedging Instruments: 
Interest rate contracts$5,350 $— $71 
Hedged Items:
Variability in cash flows related to debt instruments (primarily loans)N/A$5,350 N/A
 December 31, 2021
(Dollars in millions)NotionalAssetsLiabilities
Cash Flow Hedges
Hedging Instruments: 
Interest rate contracts$1,100 $13 $— 
Hedged Items:
Variability in cash flows related to debt instruments (primarily loans)N/A$1,100 N/A
Gains/(Losses) on Derivatives Associated with Cash Flow Hedges
The following table summarizes gains (losses) on FHN’s derivatives associated with cash flow hedges for the years ended December 31, 2022, 2021, and 2020:
Table 8.21.5
DERIVATIVE GAINS (LOSSES) ASSOCIATED WITH CASH FLOW HEDGES
Year Ended December 31,
202220212020
(Dollars in millions)Gains (Losses)Gains (Losses)Gains (Losses)
Cash Flow Hedges
Hedging Instruments:
Interest rate contracts (a) $195 $29 $3 
Gain (loss) recognized in other comprehensive income (loss)15 (3)15 
Gain (loss) reclassified from AOCI into interest income(129)(7)(6)
(a)Approximately $20 million of pre-tax losses are expected to be reclassified into earnings in the next twelve months.
Schedule of Fair Value Hedging Instruments, Statements of Financial Performance and Financial Position, Location The notional and fair values of these contracts are presented in the table below.
Table 8.21.6
DERIVATIVES ASSOCIATED WITH MORTGAGE BANKING HEDGES
December 31, 2022
(Dollars in millions)NotionalAssetsLiabilities
Mortgage Banking Hedges
Option contracts written$35 $— $— 
Forward contracts written61— — 
December 31, 2021
(Dollars in millions)NotionalAssetsLiabilities
Mortgage Banking Hedges
Option contracts written$241 $4 $— 
Forward contracts written404 — — 
The following table summarizes gains (losses) on FHN's derivatives associated with mortgage banking activities for the years ended December 31, 2022 and 2021:
Table 8.21.7
DERIVATIVE GAINS (LOSSES) ASSOCIATED WITH MORTGAGE BANKING HEDGES
 Year Ended
December 31,
202220212020
(Dollars in millions)Gains (Losses)Gains (Losses)Gains (Losses)
Mortgage Banking Hedges
Option contracts written$3 $15 $15 
Forward contracts written32 11 (37)
Derivative Assets And Collateral Received The following table provides details of derivative assets and collateral received as presented on the Consolidated Balance Sheets as of December 31, 2022 and 2021:
Table 8.21.8
DERIVATIVE ASSETS & COLLATERAL RECEIVED
    Gross amounts not offset in the Balance Sheets 
(Dollars in millions)Gross amounts
of recognized
assets		Gross amounts
offset in the
Balance Sheets		Net amounts of
assets presented
in the Balance Sheets (a)		Derivative liabilities
available for
offset		Collateral
received		Net amount
Derivative assets:
December 31, 2022
Interest rate derivative contracts$449 $— $449 $(58)$(378)$13 
Forward contracts9 — 9 (6)(2)1 
$458 $— $458 $(64)$(380)$14 
December 31, 2021
Interest rate derivative contracts$311 $— $311 $(32)$(181)$98 
Forward contracts12 — 12 (4)(3)5 
$323 $— $323 $(36)$(184)$103 
(a)Included in other assets on the Consolidated Balance Sheets. As of December 31, 2022 and 2021, $2 million and $2 million, respectively, of derivative assets have been excluded from these tables because they are generally not subject to master netting or similar agreements.
Derivative Liabilities and Collateral Pledged
The following table provides details of derivative liabilities and collateral pledged as presented on the Consolidated Balance Sheets as of December 31, 2022 and 2021:
Table 8.21.9
DERIVATIVE LIABILITIES & COLLATERAL PLEDGED
Gross amounts not offset  in the Balance Sheets
(Dollars in millions)Gross amounts
of recognized
liabilities		Gross
 amounts
offset in the
Balance Sheets		Net amounts of
liabilities presented
in the Balance Sheets (a)		Derivative assets
available for
offset		Collateral
pledged		Net amount
Derivative liabilities:
December 31, 2022
Interest rate derivative contracts$921 $— $921 $(58)$(175)$688 
Forward contracts8 — 8 (6)(1)1 
$929 $— $929 $(64)$(176)$689 
December 31, 2021
Interest rate derivative contracts$93 $— $93 $(32)$(38)$23 
Forward contracts10 — 10 (4)(1)5 
$103 $— $103 $(36)$(39)$28 
(a)Included in other liabilities on the Consolidated Balance Sheets. As of December 31, 2022 and 2021, $29 million and $24 million, respectively, of derivative liabilities (primarily Visa-related derivatives) have been excluded from these tables because they are generally not subject to master netting or similar agreements.