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CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($)
$ in Millions
Total
Adjustment
Preferred Stock
Common Stock
Capital Surplus
Retained Earnings
Retained Earnings
Adjustment
Accumulated Other Comprehensive Income (Loss)
Noncontrolling Interest
Preferred stock, balance, beginning of period (in shares) at Dec. 31, 2023     26,750            
Common stock, balance, beginning of period (in shares) at Dec. 31, 2023       558,838,694          
Balance, beginning of period at Dec. 31, 2023 $ 9,291 $ 8 $ 520 $ 349 $ 5,351 $ 3,964 $ 8 $ (1,188) [1] $ 295
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net income 197         192     5
Other comprehensive income (loss) (83)             (83) [1]  
Cash dividends declared:                  
Preferred stock (8)         (8)      
Common stock (84)         (84)      
Common stock repurchased (in shares) [2]       (11,051,980)          
Common stock repurchased [2] (159)     $ (7) (152)        
Excise tax on common stock repurchased (2)       (2)        
Common stock issued for:                  
Stock options exercised and restricted stock awards (in shares)       850,272          
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            
Common stock, balance, ending of period (in shares) at Mar. 31, 2024       548,636,986          
Balance, ending of period at Mar. 31, 2024 9,173   $ 520 $ 343 5,214 4,072   (1,271) [1] 295
Preferred stock, balance, beginning of period (in shares) at Dec. 31, 2023     26,750            
Common stock, balance, beginning of period (in shares) at Dec. 31, 2023       558,838,694          
Balance, beginning of period at Dec. 31, 2023 9,291 $ 8 $ 520 $ 349 5,351 3,964 $ 8 (1,188) [1] 295
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net income 401                
Other comprehensive income (loss) (93)             (93)  
Preferred stock, balance, ending of period (in shares) at Jun. 30, 2024     16,750            
Common stock, balance, ending of period (in shares) at Jun. 30, 2024       536,875,750          
Balance, ending of period at Jun. 30, 2024 8,955   $ 426 $ 336 5,007 4,172   (1,281) [1] 295
Preferred stock, balance, beginning of period (in shares) at Mar. 31, 2024     26,750            
Common stock, balance, beginning of period (in shares) at Mar. 31, 2024       548,636,986          
Balance, beginning of period at Mar. 31, 2024 9,173   $ 520 $ 343 5,214 4,072   (1,271) [1] 295
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net income 204         199     5
Other comprehensive income (loss) (10)             (10) [1]  
Cash dividends declared:                  
Preferred stock (8)         (8)      
Common stock (84)         (84)      
Series D preferred stock redemption (in shares)     (10,000)            
Series D preferred stock redemption (100)   $ (94)     (6)      
Excise tax on preferred stock redemption (1)         (1)      
Common stock repurchased (in shares) [2]       (14,896,091)          
Common stock repurchased [2] (228)     $ (9) (219)        
Excise tax on common stock repurchased (1)       (1)        
Common stock issued for:                  
Stock options exercised and restricted stock awards (in shares)       3,134,855          
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            
Common stock, balance, ending of period (in shares) at Jun. 30, 2024       536,875,750          
Balance, ending of period at Jun. 30, 2024 8,955   $ 426 $ 336 5,007 4,172   (1,281) [1] 295
Preferred stock, balance, beginning of period (in shares) at Dec. 31, 2024     16,750            
Common stock, balance, beginning of period (in shares) at Dec. 31, 2024       524,280,412          
Balance, beginning of period at Dec. 31, 2024 9,111   $ 426 $ 328 4,808 4,382   (1,128) [3] 295
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net income 222         218     4
Other comprehensive income (loss) 145             145 [3]  
Cash dividends declared:                  
Preferred stock (5)         (5)      
Common stock (78)         (78)      
Common stock repurchased (in shares) [4]       (17,657,334)          
Common stock repurchased [4] (365)     $ (11) (354)        
Excise tax on common stock repurchased (3)       (3)        
Common stock issued for:                  
Stock options exercised and restricted stock awards (in shares)       692,106          
Stock options exercised and restricted stock awards 3       3        
Stock-based compensation expense 18       18        
Dividends declared - noncontrolling interest of subsidiary preferred stock (4)               (4)
Preferred stock, balance, ending of period (in shares) at Mar. 31, 2025     16,750            
Common stock, balance, ending of period (in shares) at Mar. 31, 2025       507,315,184          
Balance, ending of period at Mar. 31, 2025 9,044   $ 426 $ 317 4,472 4,517   (983) [3] 295
Preferred stock, balance, beginning of period (in shares) at Dec. 31, 2024     16,750            
Common stock, balance, beginning of period (in shares) at Dec. 31, 2024       524,280,412          
Balance, beginning of period at Dec. 31, 2024 9,111   $ 426 $ 328 4,808 4,382   (1,128) [3] 295
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net income 467                
Other comprehensive income (loss) $ 216             216  
Preferred stock, balance, ending of period (in shares) at Jun. 30, 2025 16,750   16,750            
Common stock, balance, ending of period (in shares) at Jun. 30, 2025       508,835,780          
Balance, ending of period at Jun. 30, 2025 $ 9,257   $ 426 $ 318 4,459 4,671   (912) [3] 295
Preferred stock, balance, beginning of period (in shares) at Mar. 31, 2025     16,750            
Common stock, balance, beginning of period (in shares) at Mar. 31, 2025       507,315,184          
Balance, beginning of period at Mar. 31, 2025 9,044   $ 426 $ 317 4,472 4,517   (983) [3] 295
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net income 245         241     4
Other comprehensive income (loss) 71             71 [3]  
Cash dividends declared:                  
Preferred stock (8)         (8)      
Common stock (79)         (79)      
Common stock repurchased (in shares) [4]       (1,455,166)          
Common stock repurchased [4] (27)     $ (1) (26)        
Common stock issued for:                  
Stock options exercised and restricted stock awards (in shares)       2,975,762          
Stock options exercised and restricted stock awards 0                
Stock-based compensation expense 15     $ 2 13        
Dividends declared - noncontrolling interest of subsidiary preferred stock $ (4)               (4)
Preferred stock, balance, ending of period (in shares) at Jun. 30, 2025 16,750   16,750            
Common stock, balance, ending of period (in shares) at Jun. 30, 2025       508,835,780          
Balance, ending of period at Jun. 30, 2025 $ 9,257   $ 426 $ 318 $ 4,459 $ 4,671   $ (912) [3] $ 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] Includes $154 million and $212 million repurchased during first and second quarter, respectively, under FHN's $650 million general purchase program approved in January 2024 and terminated in October 2024.
[3] 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.
[4] Includes $360 million and $9 million repurchased during first and second quarter, respectively, under FHN's $1 billion general purchase program approved in October 2024 and scheduled to expire in January 2026.