Parent Company (Tables)

12 Months Ended

Dec. 31, 2015

NOTE 22 PARENT COMPANY

Summarized financial information of the parent company is as follows:

Table 134: Parent Company – Income Statement

Year ended December 31 - in millions			2015		2014		2013
Operating Revenue
Dividends from:
	Bank subsidiaries and bank holding company	$	3,110	$	3,115	$	3,105
	Non-bank subsidiaries		49		115		205
Interest income			5		4
Noninterest income			14		30		28
	Total operating revenue		3,178		3,264		3,338
Operating Expense
Interest expense			78		97		107
Other expense			88		127		93
	Total operating expense		166		224		200
Income before income taxes and equity in undistributed net income of
	subsidiaries		3,012		3,040		3,138
Income tax benefits			(99)		(61)		(89)
	Income before equity in undistributed net income of subsidiaries		3,111		3,101		3,227
Equity in undistributed net income of subsidiaries:
	Bank subsidiaries and bank holding company		736		854		845
	Non-bank subsidiaries		259		229		129
Net income		$	4,106	$	4,184	$	4,201
Other comprehensive income, net of tax:
Net pension and other postretirement benefit plan activity arising during the period			(3)		(17)		34
Other comprehensive income (loss)			(3)		(17)		34
Comprehensive income		$	4,103	$	4,167	$	4,235

Table 135: Parent Company – Balance Sheet

December 31 - in millions				2015		2014
Assets
Cash held at banking subsidiary			$	1	$	1
Restricted deposits with banking subsidiary						400
Nonrestricted interest-earning deposits				1,147		2,013
Restricted interest-earning deposits				300
	Investments in:
		Bank subsidiaries and bank holding company		41,919		41,537
		Non-bank subsidiaries		2,742		2,480
Other assets				1,460		1,399
		Total assets	$	47,569	$	47,830
Liabilities
Subordinated debt (a)			$	1,639	$	1,618
Senior debt				497		889
Bank affiliate borrowings				95		102
Accrued expenses and other liabilities				628		670
	Total liabilities			2,859		3,279
Equity
Shareholders' equity				44,710		44,551
	Total liabilities and equity		$	47,569	$	47,830
(a)	At December 31, 2015, debt that contractually matures in 2016 through 2020 totaled zero, zero, zero, $700 million (subordinated debt) and zero.

Table 136: Parent Company – Interest Paid and Income Tax Refunds (Payments)


			Income Tax
	Interest		Refunds /
Year ended December 31 - in millions	Paid		(Payments)
2015	$	106	$	72
2014	$	103	$	(13)
2013	$	117	$	91

Table 137: Parent Company – Statement of Cash Flows

Year ended December 31 - in millions				2015		2014		2013
Operating Activities
Net income			$	4,106	$	4,184	$	4,201
Adjustments to reconcile net income to net cash provided by operating
	activities:
		Equity in undistributed net earnings of subsidiaries		(995)		(1,083)		(974)
		Other		163		118		152
Net cash provided (used) by operating activities				3,274		3,219		3,379
Investing Activities
Net capital returned from (contributed to) subsidiaries								87
Net change in Restricted deposits with banking subsidiary				400
Net change in nonrestricted interest-earning deposits				866		(1,792)		(214)
Net change in restricted interest-earning deposits				(300)
Other				(81)		(79)		(60)
	Net cash provided (used) by investing activities			885		(1,871)		(187)
Financing Activities
Borrowings from subsidiaries				1,593		2,430		3,624
Repayments on borrowings from subsidiaries				(1,599)		(2,392)		(5,767)
Other borrowed funds				(382)		770		(467)
Preferred stock – Other issuances								495
Preferred stock – Other redemptions				(500)				(150)
Common and treasury stock issuances				139		252		244
Acquisition of treasury stock				(2,152)		(1,176)		(24)
Preferred stock cash dividends paid				(219)		(232)		(237)
Common stock cash dividends paid				(1,039)		(1,000)		(911)
	Net cash provided (used) by financing activities			(4,159)		(1,348)		(3,193)
Increase (decrease) in cash and due from banks								(1)
	Cash held at banking subsidiary at beginning of year			1		1		2
	Cash held at banking subsidiary at end of year		$	1	$	1	$	1