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Derivative Financial Instruments (Tables)
 6 Months Ended
Jun. 30, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Notional and Fair Value Amounts of Client-related and Trading Derivative Financial Instruments
The following table shows the notional and fair values of all derivative financial instruments as of June 30, 2026 and December 31, 2025.
TABLE 69: NOTIONAL AND FAIR VALUES OF DERIVATIVE FINANCIAL INSTRUMENTS
JUNE 30, 2026DECEMBER 31, 2025
NOTIONAL VALUEFAIR VALUENOTIONAL VALUEFAIR VALUE
(In Millions)
ASSET(1)
LIABILITY(2)
ASSET(1)
LIABILITY(2)
Derivatives Designated as Hedging under GAAP
Interest Rate Contracts
Fair Value Hedges$10,316.6 $— $— $10,897.4 $16.5 $— 
Cash Flow Hedges20,000.0 1.6 0.1 — — — 
Foreign Exchange Contracts
Cash Flow Hedges399.9 16.8 — 1,312.0 29.6 — 
Net Investment Hedges5,038.8 109.8 11.3 4,734.5 8.7 351.8 
Total Derivatives Designated as Hedging under GAAP$35,755.3 $128.2 $11.4 $16,943.9 $54.8 $351.8 
Derivatives Not Designated as Hedging under GAAP
Non-Designated Risk Management Derivatives
Foreign Exchange Contracts
$1.5 $— $— $1.6 $— $— 
Other Financial Derivatives(3)
366.7 0.3 23.1 606.6 0.7 31.3 
Total Non-Designated Risk Management Derivatives$368.2 $0.3 $23.1 $608.2 $0.7 $31.3 
Client-Related and Trading Derivatives
Foreign Exchange Contracts
$489,167.1 $3,168.0 $3,148.1 $392,874.0 $1,950.5 $1,896.1 
Interest Rate Contracts
9,253.1 78.6 138.7 11,132.1 88.3 130.4 
Total Client-Related and Trading Derivatives$498,420.2 $3,246.6 $3,286.8 $404,006.1 $2,038.8 $2,026.5 
Total Derivatives Not Designated as Hedging under GAAP$498,788.4 $3,246.9 $3,309.9 $404,614.3 $2,039.5 $2,057.8 
Total Gross Derivatives$534,543.7 $3,375.1 $3,321.3 $421,558.2 $2,094.3 $2,409.6 
Less: Netting(4)
1,830.4 2,752.4 1,779.2 1,175.7 
Total Derivative Financial Instruments$1,544.7 $568.9 $315.1 $1,233.9 
(1)    Derivative assets are reported in Other Assets on the consolidated balance sheets.
(2)    Derivative liabilities are reported in Other Liabilities on the consolidated balance sheets.
(3)    Includes swaps related to sales of certain Visa Class B common shares and total return swap contracts.
(4)    See further detail in Note 23—Offsetting of Assets and Liabilities.
Schedule of Cash Flow Hedge Derivative Gains and Losses Recognized in AOCI and Reclassified to Income
The following tables provide fair value and cash flow hedge derivative gains and losses recognized in income during the three- and six- month periods ended June 30, 2026 and 2025.
TABLE 70: LOCATION AND AMOUNT OF FAIR VALUE AND CASH FLOW HEDGE DERIVATIVE GAINS AND LOSSES RECORDED IN INCOME
(In Millions)INTEREST INCOMEINTEREST EXPENSE
THREE MONTHS ENDED JUNE 30,2026202520262025
Total amounts on the consolidated statements of income$2,189.3 $2,212.8 $1,513.8 $1,602.3 
Gains (Losses) on fair value hedges recognized on
Interest Rate Contracts
Recognized on derivatives46.9 (48.0)(23.3)25.5 
Recognized on hedged items(46.9)48.0 23.3 (25.5)
Amounts related to interest settlements on derivatives(4.4)9.2 (11.8)(14.8)
Total gains (losses) recognized on fair value hedges$(4.4)$9.2 $(11.8)$(14.8)
Gains (Losses) on cash flow hedges reclassified from AOCI to net income
Interest Rate Contracts(1)
(2.0)— — — 
Foreign Exchange Contracts$10.5 $3.4 $— $— 
Total gains (losses) reclassified from AOCI to net income on cash flow hedges$8.5 $3.4 $— $— 
(1)    Amounts relate to the amortization of excluded components.
(In Millions)INTEREST INCOMEINTEREST EXPENSE
SIX MONTHS ENDED JUNE 30,2026202520262025
Total amounts on the consolidated statements of income$4,423.4 $4,353.7 $3,093.9 $3,175.1 
Gains (Losses) on fair value hedges recognized on
Interest Rate Contracts
Recognized on derivatives99.7 (147.6)(32.9)64.7 
Recognized on hedged items(99.7)147.6 32.9 (64.7)
Amounts related to interest settlements on derivatives(8.1)18.2 (23.4)(29.4)
Total gains (losses) recognized on fair value hedges$(8.1)$18.2 $(23.4)$(29.4)
Gains (Losses) on cash flow hedges reclassified from AOCI to net income
Interest Rate Contracts(1)
(2.4)— — — 
Foreign Exchange Contracts$24.3 $13.9 $— $— 
Total gains (losses) reclassified from AOCI to net income on cash flow hedges$21.9 $13.9 $— $— 
(1)    Amounts relate to the amortization of excluded components.
Schedule of Location and Amount of Fair Value Hedge Derivative Gains and Losses Recorded in Income
The following table provides the impact of fair value hedge accounting on the carrying value of the designated hedged items as of June 30, 2026 and December 31, 2025.
TABLE 71: HEDGED ITEMS IN FAIR VALUE HEDGES
JUNE 30, 2026DECEMBER 31, 2025
(In Millions)CARRYING VALUE OF THE HEDGED ITEMS
CUMULATIVE HEDGE ACCOUNTING BASIS ADJUSTMENT(1)(3)
CARRYING VALUE OF THE HEDGED ITEMS
CUMULATIVE HEDGE ACCOUNTING BASIS ADJUSTMENT(2)(3)
Available for Sale Debt Securities(4)
$7,006.8 $(6.9)$7,674.8 $94.1 
Senior Notes and Long-Term Subordinated Debt3,058.9 (184.3)3,091.1 (151.4)
(1)    The cumulative hedge accounting basis adjustment includes no amounts related to discontinued hedging relationships of Available for Sale Debt Securities or Senior Notes and Long-Term Subordinated Debt as of June 30, 2026.
(2)    The cumulative hedge accounting basis adjustment includes $1.3 million related to discontinued hedging relationships of Available for Sale Debt Securities and no amounts related to discontinued hedging relationships in the cumulative hedge accounting basis adjustment of Senior Notes and Long-Term Subordinated Debt as of December 31, 2025.
(3) Positive (negative) amounts related to Available for Sale Debt Securities represent cumulative fair value hedge basis adjustments that will reduce (increase) net interest income in future periods. Positive (negative) amounts related to Senior Notes and Long-Term Subordinated Debt represent cumulative fair value hedge basis adjustments that will increase (reduce) net interest income in future periods.
(4)    Carrying value represents amortized cost.
Schedule of Location and Amount of Gains and Losses Recorded in Income for Non-Designated Risk Management Derivative Instruments The following table provides the location and amount of gains and losses recorded in the consolidated statements of income for the six months ended June 30, 2026 and 2025, respectively, for derivative instruments not designated as hedges under GAAP.
TABLE 72: LOCATION AND AMOUNT OF GAINS AND LOSSES RECORDED IN INCOME FOR DERIVATIVES NOT DESIGNATED AS HEDGING UNDER GAAP
(In Millions)DERIVATIVE GAINS (LOSSES) LOCATION RECOGNIZED IN INCOMEAMOUNT OF DERIVATIVE GAINS (LOSSES) RECOGNIZED IN INCOME
THREE MONTHS ENDED JUNE 30,SIX MONTHS ENDED JUNE 30,
2026202520262025
Non-designated risk management derivatives
Other Financial Derivatives(1)
Other Operating Income(7.0)0.2 (4.2)(5.4)
Gains (Losses) from non-designated risk management derivatives$(7.0)$0.2 $(4.2)$(5.4)
Client-related and trading derivatives
Foreign Exchange ContractsForeign Exchange Trading Income$97.1 $50.6 $184.8 $109.3 
Interest Rate ContractsSecurity Commissions and Trading Income0.7 1.2 1.0 1.7 
Gains from client-related and trading derivatives$97.8 $51.8 $185.8 $111.0 
Total gains from derivatives not designated as hedging under GAAP$90.8 $52.0 $181.6 $105.6 
(1)    Includes swaps related to the sale of certain Visa Class B common shares and total return swap contracts.