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CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($)
$ in Millions
Total
Series D
Series G
Adjustment
Preferred Stock
Preferred Stock
Series D
Common Stock
Common Stock
Series G
Capital Surplus
Capital Surplus
Series G
Retained Earnings
Retained Earnings
Series D
Retained Earnings
Adjustment
Accumulated Other Comprehensive Income (Loss)
Noncontrolling Interest
Preferred stock, balance, beginning of period (in shares) at Dec. 31, 2022         31,686,000                    
Common stock, balance, beginning of period (in shares) at Dec. 31, 2022             537,101,000                
Balance, beginning of period at Dec. 31, 2022 $ 8,547     $ 4 $ 1,014   $ 336   $ 4,840   $ 3,430   $ 4 $ (1,368) [1] $ 295
Increase (Decrease) in Stockholders' Equity [Roll Forward]                              
Net income 255                   251       4
Other comprehensive income (loss) 160                         160 [1]  
Cash dividends declared:                              
Preferred stock (8)                   (8)        
Common stock (82)                   (82)        
Common stock repurchased (in shares)             (159,000)                
Common stock repurchased (4)               (4)            
Common stock issued for:                              
Stock options exercised and restricted stock awards (in shares)             677,000                
Stock options exercised and restricted stock awards 5               5            
Stock-based compensation expense 22               22            
Dividends declared - noncontrolling interest of subsidiary preferred stock (4)                           (4)
Preferred stock, balance, ending of period (in shares) at Mar. 31, 2023         31,686,000                    
Common stock, balance, ending of period (in shares) at Mar. 31, 2023             537,619,000                
Balance, ending of period at Mar. 31, 2023 8,895       $ 1,014   $ 336   4,863   3,595     (1,208) [1] 295
Preferred stock, balance, beginning of period (in shares) at Dec. 31, 2022         31,686,000                    
Common stock, balance, beginning of period (in shares) at Dec. 31, 2022             537,101,000                
Balance, beginning of period at Dec. 31, 2022 8,547     4 $ 1,014   $ 336   4,840   3,430   4 (1,368) [1] 295
Increase (Decrease) in Stockholders' Equity [Roll Forward]                              
Net income 585                            
Other comprehensive income (loss) 9                         9  
Common stock issued for:                              
Series G preferred stock conversion 493                            
Preferred stock, balance, ending of period (in shares) at Jun. 30, 2023         26,750,000                    
Common stock, balance, ending of period (in shares) at Jun. 30, 2023             558,659,000                
Balance, ending of period at Jun. 30, 2023 8,960       $ 520   $ 349   5,325   3,830     (1,359) [1] 295
Preferred stock, balance, beginning of period (in shares) at Dec. 31, 2022         31,686,000                    
Common stock, balance, beginning of period (in shares) at Dec. 31, 2022             537,101,000                
Balance, beginning of period at Dec. 31, 2022 8,547     4 $ 1,014   $ 336   4,840   3,430   4 (1,368) [1] 295
Preferred stock, balance, ending of period (in shares) at Dec. 31, 2023         26,750,000                    
Common stock, balance, ending of period (in shares) at Dec. 31, 2023             558,839,000                
Balance, ending of period at Dec. 31, 2023 $ 9,291     8 $ 520   $ 349   5,351   3,964   8 (1,188) [2] 295
Common stock issued for:                              
Accounting Standards Update [Extensible List] Accounting Standards Update 2023-02                            
Preferred stock, balance, beginning of period (in shares) at Mar. 31, 2023         31,686,000                    
Common stock, balance, beginning of period (in shares) at Mar. 31, 2023             537,619,000                
Balance, beginning of period at Mar. 31, 2023 $ 8,895       $ 1,014   $ 336   4,863   3,595     (1,208) [1] 295
Increase (Decrease) in Stockholders' Equity [Roll Forward]                              
Net income 329                   325       4
Other comprehensive income (loss) (151)                         (151) [1]  
Cash dividends declared:                              
Preferred stock (8)                   (8)        
Common stock (82)                   (82)        
Series D preferred stock redemption (in shares)         (4,936,000)                    
Series D preferred stock redemption (494)       $ (494)           0        
Common stock repurchased (in shares)             (575,000)                
Common stock repurchased (5)               (5)            
Common stock issued for:                              
Stock options exercised and restricted stock awards (in shares)             1,872,000                
Stock options exercised and restricted stock awards 0                            
Series G preferred stock conversion (in shares)               19,743,000              
Series G preferred stock conversion     $ 493         $ 12   $ 481          
Stock-based compensation expense (13)           $ 1   (14)            
Dividends declared - noncontrolling interest of subsidiary preferred stock (4)                           (4)
Preferred stock, balance, ending of period (in shares) at Jun. 30, 2023         26,750,000                    
Common stock, balance, ending of period (in shares) at Jun. 30, 2023             558,659,000                
Balance, ending of period at Jun. 30, 2023 8,960       $ 520   $ 349   5,325   3,830     (1,359) [1] 295
Preferred stock, balance, beginning of period (in shares) at Dec. 31, 2023         26,750,000                    
Common stock, balance, beginning of period (in shares) at Dec. 31, 2023             558,839,000                
Balance, beginning of period at Dec. 31, 2023 9,291     8 $ 520   $ 349   5,351   3,964   8 (1,188) [2] 295
Increase (Decrease) in Stockholders' Equity [Roll Forward]                              
Net income 197                   192       5
Other comprehensive income (loss) (83)                         (83) [2]  
Cash dividends declared:                              
Preferred stock (8)                   (8)        
Common stock (84)                   (84)        
Common stock repurchased (in shares) [3]             (11,052,000)                
Common stock repurchased [3] (159)           $ (7)   (152)            
Excise tax on common stock repurchased (2)               (2)            
Common stock issued for:                              
Stock options exercised and restricted stock awards (in shares)             850,000                
Stock options exercised and restricted stock awards 0                            
Stock-based compensation expense 18           $ 1   17            
Dividends declared - noncontrolling interest of subsidiary preferred stock (5)                           (5)
Preferred stock, balance, ending of period (in shares) at Mar. 31, 2024         26,750,000                    
Common stock, balance, ending of period (in shares) at Mar. 31, 2024             548,637,000                
Balance, ending of period at Mar. 31, 2024 9,173       $ 520   $ 343   5,214   4,072     (1,271) [2] 295
Preferred stock, balance, beginning of period (in shares) at Dec. 31, 2023         26,750,000                    
Common stock, balance, beginning of period (in shares) at Dec. 31, 2023             558,839,000                
Balance, beginning of period at Dec. 31, 2023 9,291     $ 8 $ 520   $ 349   5,351   3,964   $ 8 (1,188) [2] 295
Increase (Decrease) in Stockholders' Equity [Roll Forward]                              
Net income 401                            
Other comprehensive income (loss) (93)                         (93)  
Cash dividends declared:                              
Series D preferred stock redemption                     (7)        
Common stock issued for:                              
Series G preferred stock conversion $ 0                            
Preferred stock, balance, ending of period (in shares) at Jun. 30, 2024 16,750 0     16,750,000                    
Common stock, balance, ending of period (in shares) at Jun. 30, 2024             536,876,000                
Balance, ending of period at Jun. 30, 2024 $ 8,955       $ 426   $ 336   5,007   4,172     (1,281) [2] 295
Preferred stock, balance, beginning of period (in shares) at Mar. 31, 2024         26,750,000                    
Common stock, balance, beginning of period (in shares) at Mar. 31, 2024             548,637,000                
Balance, beginning of period at Mar. 31, 2024 9,173       $ 520   $ 343   5,214   4,072     (1,271) [2] 295
Increase (Decrease) in Stockholders' Equity [Roll Forward]                              
Net income 204                   199       5
Other comprehensive income (loss) (10)                         (10) [2]  
Cash dividends declared:                              
Preferred stock (8)                   (8)        
Common stock (84)                   (84)        
Series D preferred stock redemption (in shares)           (10,000,000)                  
Series D preferred stock redemption   $ (100)       $ (94)         (7) $ (6)      
Excise tax on preferred stock redemption (1)                   (1)        
Common stock repurchased (in shares) [3]             (14,896,000)                
Common stock repurchased [3] (228)           $ (9)   (219)            
Excise tax on common stock repurchased (1)               (1)            
Common stock issued for:                              
Stock options exercised and restricted stock awards (in shares)             3,135,000                
Stock options exercised and restricted stock awards 2           $ 1   1            
Stock-based compensation expense 13           $ 1   12            
Dividends declared - noncontrolling interest of subsidiary preferred stock $ (5)                           (5)
Preferred stock, balance, ending of period (in shares) at Jun. 30, 2024 16,750 0     16,750,000                    
Common stock, balance, ending of period (in shares) at Jun. 30, 2024             536,876,000                
Balance, ending of period at Jun. 30, 2024 $ 8,955       $ 426   $ 336   $ 5,007   $ 4,172     $ (1,281) [2] $ 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] 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.
[3] Includes $154 million and $212 million repurchased during first and second quarter, respectively, under FHN's general purchase program