Equity (Tables)

12 Months Ended

Dec. 31, 2023

Equity [Abstract]

Schedule of Stockholders Equity

The following table presents changes in the number of shares issued and outstanding.

(shares in thousands) (a)	2023	2022	2021
Common stock
Total issued at January 1,	507,683	504,522	501,237
New issuances
Employee benefits and compensation plans	4,179	3,161	3,284
Total issued at December 31,	511,861	507,683	504,522
Treasury balance at January 1,	(208,358)	(166,581)	(126,563)
Repurchase of common stock (b)	(1,044)	(41,778)	(40,018)
Total treasury stock at December 31,	(209,402)	(208,358)	(166,581)
Total outstanding at December 31,	302,459	299,324	337,941

(a)Figures in the table may not recalculate exactly due to rounding. Number of shares issued, in treasury, and outstanding are calculated based on unrounded numbers.

(b)Includes shares of common stock withheld to cover income taxes owed by participants in our share-based incentive plans. Refer to the section titled Capital Planning and Stress Tests in Note 20 for additional information regarding our common stock-repurchase program

Schedule of Preferred Stock

The following table summarizes information about our preferred stock.

	December 31, 2023
Series B preferred stock (a)
Issuance date	April 22, 2021
Carrying value ($ in millions)	$	1,335
Par value (per share)	$	0.01
Liquidation preference (per share)	$	1,000
Number of shares authorized	1,350,000
Number of shares issued and outstanding	1,350,000
Dividend/coupon
Prior to May 15, 2026	4.700%
On and after May 15, 2026	Five Year Treasury + 3.868%
Series C preferred stock (a)
Issuance date	June 2, 2021
Carrying value ($ in millions)	$	989
Par value (per share)	$	0.01
Liquidation preference (per share)	$	1,000
Number of shares authorized	1,000,000
Number of shares issued and outstanding	1,000,000
Dividend/coupon
Prior to May 15, 2028	4.700%
On and after May 15, 2028	Seven Year Treasury + 3.481%

(a)We may, at our option, redeem the Series B and Series C shares on any dividend payment date on or after May 15, 2026, or May 15, 2028, respectively, or at any time within 90 days following a regulatory event that precludes the instruments from being included in additional Tier 1 capital.