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Employee Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2021
Employee Benefit Plans [Abstract]  
Reconciliation of Changes in Projected Benefit Obligation and Change in Plan Assets
Table 99: Reconciliation of Changes in Projected Benefit Obligation and Change in Plan Assets
 Qualified
Pension (a)		Nonqualified
Pension		Postretirement
Benefits
In millions202120202021202020212020
Accumulated benefit obligation at December 31$5,370 $5,117 $272 $258 
Projected benefit obligation at January 1$5,174 $4,887 $263 $265 $337 $333 
Service cost133 122 4 3 4 4 
Interest cost139 160 6 8 8 11 
Amendments(4)
Actuarial (gains)/losses and changes in assumptions (a)(88)306 (4)17 (11)11 
Participant contributions3 3 
Federal Medicare subsidy on benefits paid1 
Benefits paid(320)(301)(21)(30)(25)(25)
Projected benefit obligation from BBVA acquisition389 32 9 
Projected benefit obligation at December 31$5,423 $5,174 $280 $263 $326 $337 
Fair value of plan assets at January 1$6,073 $5,654 $262 $247 
Actual return on plan assets670 720 2 14 
Employer contribution$21 $30 20 23 
Participant contributions3 3 
Federal Medicare subsidy on benefits paid1 
Benefits paid(320)(301)(21)(30)(25)(25)
Fair value of plan assets from BBVA acquisition 365 
Fair value of plan assets at December 31$6,788 $6,073 $263 $262 
Funded status$1,365 $899 $(280)$(263)$(63)$(75)
Amounts recognized on the consolidated balance sheet
Noncurrent asset$1,365 $899 
Current liability$(25)$(25)$(2)$(2)
Noncurrent liability(255)(238)(61)(73)
Net amount recognized on the consolidated balance sheet$1,365 $899 $(280)$(263)$(63)$(75)
Amounts recognized in AOCI consist of:
Prior service cost (credit)$17 $25 $1 $2 
Net actuarial loss (gain)(186)299 $80 $90 (2)4 
Amount of loss (gain) recognized in AOCI$(169)$324 $80 $90 $(1)$6 
(a)The actuarial (gains)/losses and changes in assumptions in 2021 and 2020 were primarily related to a change in the discount rate used to measure the projected benefit obligation.
Asset Strategy Allocations
The asset strategy allocations for the Plan at the end of 2021 and 2020, and the target allocation range at the end of 2021, by asset category, are as follows.
Table 100: Asset Strategy Allocations
 Target Allocation RangePercentage of Plan Assets by Strategy at December 31
  20212020
Asset Category
Domestic Equity
15 – 40%
20 %23 %
International Equity
10 – 25%
17 %18 %
Private Equity
0 – 15%
12 %10 %
Total Equity
30 – 70%
49 %51 %
Domestic Fixed Income
10 – 40%
28 %25 %
High Yield Fixed Income
0 – 25%
7 %8 %
Total Fixed Income
10 – 65%
35 %33 %
Real estate
0 – 10%
5 %5 %
Other
0 – 20%
11 %11 %
Total
100%
100 %100 %
Description Of The Valuation Methodologies Used For Pension Plan
A description of the valuation methodologies used for assets measured at fair value at both December 31, 2021 and 2020 follows:
Table 101: Pension Plan Valuation Methodologies
AssetValuation Methodology
Money market funds
• Valued at the NAV of the shares held by the pension plan at year end.

U.S. government and agency securities

Corporate debt

Common stock
• Valued at the closing price reported on the active market on which the individual securities are traded.
• If quoted market prices are not available for the specific security, then fair values are estimated by using pricing models or quoted prices of securities with similar characteristics. Such securities are generally classified within Level 2 of the valuation hierarchy but may be a Level 3 depending on the level of liquidity and activity in the market for the security.
Mutual funds
• Valued based on third-party pricing of the fund which is not actively traded.
Other investments

   Derivative financial instruments

   Group annuity contracts

   Preferred stock

• Derivative financial instruments - recorded at estimated fair value as determined by third-party appraisals and pricing models.
• Group annuity contracts - measured at fair value by discounting the related cash flows based on current yields of similar instruments with comparable durations considering the credit-worthiness of the issuer.
• Preferred stock - Valued at the closing price reported on an active market on which the securities are traded.
Investments measured at NAV

   Collective trust fund investments

   Limited partnerships
• Collective trust fund investments - Valued based upon the units of such collective trust fund held by the Plan at year end multiplied by the respective unit value. The unit value of the collective trust fund is based upon significant observable inputs, although it is not based upon quoted prices in an active market. The underlying investments of the collective trust funds consist primarily of equity securities, debt obligations, short-term investments, and other marketable securities. Due to the nature of these securities, there are no unfunded commitments or redemption restrictions.
• Limited partnerships - Valued by investment managers based on recent financial information used to estimate fair value. The unit value of limited partnerships is based upon significant observable inputs, although it is not based upon quoted marked prices in an active market.
Pension Plan Assets - Fair Value Hierarchy
The following table sets forth by level, within the fair value hierarchy, the Plan’s assets at fair value as of December 31, 2021 and 2020.
Table 102: Pension Plan Assets - Fair Value Hierarchy
 December 31, 2021December 31, 2020
In millionsLevel 1Level 2Level 3Total Fair ValueLevel 1Level 2Level 3Total Fair Value
Interest bearing cash$11 $11 
Money market funds$725 725 $572 $572 
U.S. government and agency securities583 124 707 446 $126 572 
Corporate debt962 $4 966 730 $3 733 
Common stock739 1 740 738 1 739 
Mutual funds278 278 290 290 
Other148 148 1 214 215 
Investments measured at NAV (a)3,213 2,952 
Total$2,047 $1,523 $5 $6,788 $1,757 $1,360 $4 $6,073 
(a)Certain investments that are measured at fair value using the NAV per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy.
Estimated Cash Flows
The following table provides information regarding our estimated future cash flows related to our various plans.
Table 103: Estimated Cash Flows
 Pension PlansPostretirement Benefits
In millionsQualified PensionNonqualified Pension
Estimated 2022 employer contributions$25 $23 
Estimated future benefit payments
2022$328 $25 $23 
2023$339 $25 $23 
2024$346 $24 $24 
2025$351 $24 $23 
2026$339 $22 $23 
2027-2031$1,616 $100 $104 
Components of Net Periodic Benefit Cost
The components of net periodic benefit cost/(income) and other amounts recognized in OCI were as follows:

Table 104: Components of Net Periodic Benefit Cost (a)
 Qualified Pension PlanNonqualified Pension PlanPostretirement Benefits
Year ended December 31 – in millions202120202019202120202019202120202019
Net periodic cost consists of:
Service cost$133 $122 $115 $4 $3 $3 $4 $4 $4 
Interest cost139 160 186 6 8 10 8 11 13 
Expected return on plan assets(273)(302)(288)(6)(6)(5)
Amortization of prior service cost/(credit)4 4 4 
Amortization of actuarial (gain)/loss4 6 5 4 
Net periodic cost (benefit)$3 $(16)$21 $16 $16 $17 $6 $9 $12 
Other changes in plan assets and benefit obligations recognized in OCI:
Current year prior service cost/(credit)(4)21 
Amortization of prior service (cost)/credit(4)(4)(4)
Current year actuarial loss/(gain)(485)(112)(193)(4)17 25 (7)3 9 
Amortization of actuarial gain/(loss)(4)(6)(5)(4)
Total recognized in OCI$(493)$(116)$(180)$(10)$12 $21 $(7)$3 $9 
Total amounts recognized in net periodic cost and OCI$(490)$(132)$(159)$6 $28 $38 $(1)$12 $21 
(a) The service cost component is included in Personnel expense on the Consolidated Income Statement. All other components are included in Other noninterest expense on the Consolidated Income Statement.
Net Periodic Costs - Assumptions
The weighted-average assumptions used (as of the beginning of each year) to determine the net periodic costs shown in Table 105 were as follows:
Table 105: Net Periodic Costs - Assumptions
 Net Periodic Cost Determination
As of January 1202120202019
Discount rate (a)
Qualified pension (b)2.60 %3.30 %4.30 %
Nonqualified pension2.15 %3.05 %4.15 %
Postretirement benefits2.40 %3.20 %4.20 %
Rate of compensation increase (average) (c)4.25 %4.25 %3.50 %
Interest crediting rate (average)
Qualified Pension3.70 %3.85 %3.95 %
Nonqualified pension4.00 %4.15 %4.20 %
Postretirement benefits1.30 %2.05 %3.05 %
Assumed health care cost trend rate (d)
Initial trend6.00 %6.25 %6.50 %
Ultimate trend5.00 %5.00 %5.00 %
Year ultimate trend reached202520252025
Expected long-term return on plan assets (c) (e)4.40 %5.50 %5.75 %
(a)The 2021 discount rate for each plan is a blended rate that is inclusive of the BBVA plans acquired during the year.
(b)The 2019 qualified pension discount rate was 4.15% at the time of remeasurement on January 31, 2019 as a result of a plan amendment.
(c)Rate disclosed is for the qualified pension plan.
(d)Rate is applicable only to the postretirement benefit plans.
(e)The 2021 rate is a blended rate that is inclusive of the BBVA plan assets acquired during the year.
Other Pension Assumptions
The weighted-average assumptions used (as of the end of each year) to determine year end obligations for pension and postretirement benefits were as follows:
Table 106: Other Pension Assumptions
Year ended December 3120212020
Discount rate
Qualified pension2.90 %2.55 %
Nonqualified pension2.65 %2.10 %
Postretirement benefits2.80 %2.40 %
Rate of compensation increase (average) (a)4.25 %4.25 %
Interest crediting rate (average)
Qualified pension3.70 %3.70 %
Nonqualified pension4.00 %4.00 %
Postretirement benefits1.65 %1.30 %
Assumed health care cost trend rate (b)
Initial trend6.00 %6.00 %
Ultimate trend4.50 %5.00 %
Year ultimate trend reached20252025
    
(a)Rate disclosed is for the qualified pension plan.
(b)Rate is applicable only to the postretirement benefit plans.