Employee Benefits and Other Expenses (Tables)

3 Months Ended

Mar. 31, 2022

Retirement Benefits [Abstract]

Net Periodic Benefit Cost

Table 18.1 presents the components of net periodic benefit cost. The expected long-term rate of return on plan assets and interest cost discount rate in determining net periodic benefit cost for first quarter 2022 were 5.00% and 2.47%, respectively. Service cost is reported in personnel expense and all other components of net periodic benefit cost are reported in other noninterest expense on the consolidated statement of income.

Table 18.1: Net Periodic Benefit Cost

	2022				2021
	Pension benefits				Pension benefits
(in millions)	Qualified		Non-  qualified	Other  benefits	Qualified	Non-  qualified	Other  benefits
Quarter ended March 31,
Service cost	$	5	—	—	4	—	—
Interest cost	67		2	2	71	3	3
Expected return on plan assets	(139)		—	(5)	(152)	—	(5)
Amortization of net actuarial loss (gain)	33		3	(5)	37	4	(5)
Amortization of prior service credit	—		—	(3)	—	—	(2)
Settlement loss	47		1	—	—	2	—
Net periodic benefit cost	$	13	6	(11)	(40)	9	(9)