Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2024

Accounting Policies [Abstract]

Transition Adjustment of ASU 2023-02

Table 1.1 presents the transition adjustments recorded upon the adoption of ASU 2023-02 as of January 1, 2024.

Table 1.1: Transition Adjustment of ASU 2023-02

(in millions)	Dec 31, 2023		Transition adjustment upon adoption	Jan 1, 2024
Selected Balance Sheet Data
Equity securities	$	57,336	1,700	59,036
Other assets	78,815		548	79,363
Accrued expenses and other liabilities	71,210		7,333	78,543
Long-term debt	207,588		(4,927)	202,661
Retained earnings	201,136		(158)	200,978

Supplemental Cash Flow Information

Supplemental Cash Flow Information

Significant noncash activities are presented in Table 1.2.

Table 1.2: Supplemental Cash Flow Information

	Nine months ended September 30,
(in millions)	2024		2023
Transfers from available-for-sale debt securities to held-to-maturity debt securities	$	—	3,687
Transfers from held-to-maturity debt securities to available-for-sale debt securities (1)	—		23,919
Reclassification of long-term debt to accrued expenses and other liabilities (2)	4,927		—

(1)In first quarter 2023, we reclassified HTM debt securities to AFS debt securities in connection with the adoption of ASU 2022-01, Derivatives and Hedging (Topic 815): Fair Value Hedging – Portfolio Layer Method. For additional information, see Note 1 (Summary of Significant Accounting Policies) in our 2023 Form 10-K.

(2)Effective January 1, 2024, we reclassified unfunded commitment liabilities for affordable housing investments from Long-term debt to Accrued expenses and other liabilities in connection with the adoption of ASU 2023-02.