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CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($)
$ in Millions
Total
Series B
Series D
Adjustment to reflect adoption of ASU 2023-02
Preferred Stock
Preferred Stock
Series B
Preferred Stock
Series D
Common Stock
Capital Surplus
Retained Earnings
Retained Earnings
Series B
Retained Earnings
Series D
Retained Earnings
Adjustment to reflect adoption of ASU 2023-02
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 624                            
Other comprehensive income (loss) 199                         199  
Preferred stock, balance, ending of period (in shares) at Sep. 30, 2024         16,750                    
Common stock, balance, ending of period (in shares) at Sep. 30, 2024               532,180,686              
Balance, ending of period at Sep. 30, 2024 9,316       $ 426     $ 333 4,947 4,304       (989) [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 B and Series D preferred stock redemption (in shares)             (10,000)                
Series B and 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
Increase (Decrease) in Stockholders' Equity [Roll Forward]                              
Net income 223                 218         5
Other comprehensive income (loss) 292                         292 [1]  
Cash dividends declared:                              
Preferred stock (5)                 (5)          
Common stock (81)                 (81)          
Common stock repurchased (in shares) [2]               (4,742,640)              
Common stock repurchased [2] (75)             $ (3) (72)            
Excise tax on common stock repurchased (1)               (1)            
Common stock issued for:                              
Stock options exercised and restricted stock awards (in shares)               47,576              
Stock options exercised and restricted stock awards 0                            
Stock-based compensation expense 13               13            
Dividends declared - noncontrolling interest of subsidiary preferred stock (5)                           (5)
Preferred stock, balance, ending of period (in shares) at Sep. 30, 2024         16,750                    
Common stock, balance, ending of period (in shares) at Sep. 30, 2024               532,180,686              
Balance, ending of period at Sep. 30, 2024 9,316       $ 426     $ 333 4,947 4,304       (989) [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 732                            
Other comprehensive income (loss) $ 279                         279  
Cash dividends declared:                              
Series B and Series D preferred stock redemption                   (3)          
Preferred stock, balance, ending of period (in shares) at Sep. 30, 2025 8,750 0     8,750                    
Common stock, balance, ending of period (in shares) at Sep. 30, 2025               500,367,901              
Balance, ending of period at Sep. 30, 2025 $ 9,244       $ 349     $ 313 4,288 4,848       (849) [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                    
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
Increase (Decrease) in Stockholders' Equity [Roll Forward]                              
Net income 266                 262         4
Other comprehensive income (loss) 63                         63 [3]  
Cash dividends declared:                              
Preferred stock (5)                 (5)          
Common stock (77)                 (77)          
Series B and Series D preferred stock redemption (in shares)           (8,000)                  
Series B and Series D preferred stock redemption   $ (80)       $ (77)       (3) $ (3)        
Common stock repurchased (in shares) [4]               (8,603,476)              
Common stock repurchased [4] (191)             $ (5) (186)            
Excise tax on common stock repurchased (2)               (2)            
Common stock issued for:                              
Stock options exercised and restricted stock awards (in shares)               135,597              
Stock options exercised and restricted stock awards 2               2            
Stock-based compensation expense 15               15            
Dividends declared - noncontrolling interest of subsidiary preferred stock $ (4)                           (4)
Preferred stock, balance, ending of period (in shares) at Sep. 30, 2025 8,750 0     8,750                    
Common stock, balance, ending of period (in shares) at Sep. 30, 2025               500,367,901              
Balance, ending of period at Sep. 30, 2025 $ 9,244       $ 349     $ 313 $ 4,288 $ 4,848       $ (849) [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, $212 million, and $75 million repurchased during first, second, and third 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, $9 million, and $190 million repurchased during first, second, and third quarter, respectively, under FHN's $1 billion general purchase program approved in October 2024