Income Taxes	9 Months Ended
Sep. 30, 2014
Income Taxes
Income Taxes	NOTE 9. Income Taxes The effective tax rates for the three and nine months ended September 30, 2014 were lower than the corresponding periods of 2013 primarily due to adjustments for uncertain tax positions recorded during 2013 and 2014 as described below. As a result of developments in the IRS's examination of tax years 2008-2010, BB&T recognized a $14 million tax charge in the second quarter of 2014 and a $50 million tax benefit in the third quarter of 2014. Final approval of these and all other matters related to the IRS examination are pending review by the Joint Committee on Taxation. These developments also resulted in a reduction of unrecognized tax benefits totaling $147 million. In February 2010, BB&T received an IRS statutory notice of deficiency for tax years 2002-2007 asserting a liability for taxes, penalties and interest of approximately $892 million related to the disallowance of foreign tax credits and other deductions claimed by a subsidiary in connection with a financing transaction. BB&T paid the disputed tax, penalties and interest in March 2010 and filed a lawsuit seeking a refund in the U.S. Court of Federal Claims. On February 11, 2013, the U.S. Tax Court issued an adverse opinion in a case between the Bank of New York Mellon Corporation and the IRS involving a transaction with a structure similar to BB&T's financing transaction. On September 20, 2013, the court denied BB&T's refund claim. As a result of the rulings and tax matters related to other current tax examinations, BB&T recorded tax adjustments of $281 million and $235 million during the quarters ended March 31, 2013 and September 30, 2013, respectively. BB&T has filed a Notice of Appeal to the U.S. Court of Appeals for the Federal Circuit. As of September 30, 2014, the exposure for this financing transaction is fully reserved. It is reasonably possible that the litigation associated with the financing transaction may conclude within the next twelve months. Changes in the amount of unrecognized tax benefits, penalties and interest could result in a benefit of up to approximately $700 million. The ultimate resolution of these matters may take longer.

Income Taxes

9 Months Ended

Sep. 30, 2014

NOTE 9. Income Taxes

The effective tax rates for the three and nine months ended September 30, 2014 were lower than the corresponding periods of 2013 primarily due to adjustments for uncertain tax positions recorded during 2013 and 2014 as described below.

As a result of developments in the IRS's examination of tax years 2008-2010, BB&T recognized a $14 million tax charge in the second quarter of 2014 and a $50 million tax benefit in the third quarter of 2014. Final approval of these and all other matters related to the IRS examination are pending review by the Joint Committee on Taxation. These developments also resulted in a reduction of unrecognized tax benefits totaling $147 million.

In February 2010, BB&T received an IRS statutory notice of deficiency for tax years 2002-2007 asserting a liability for taxes, penalties and interest of approximately $892 million related to the disallowance of foreign tax credits and other deductions claimed by a subsidiary in connection with a financing transaction. BB&T paid the disputed tax, penalties and interest in March 2010 and filed a lawsuit seeking a refund in the U.S. Court of Federal Claims. On February 11, 2013, the U.S. Tax Court issued an adverse opinion in a case between the Bank of New York Mellon Corporation and the IRS involving a transaction with a structure similar to BB&T's financing transaction. On September 20, 2013, the court denied BB&T's refund claim. As a result of the rulings and tax matters related to other current tax examinations, BB&T recorded tax adjustments of $281 million and $235 million during the quarters ended March 31, 2013 and September 30, 2013, respectively. BB&T has filed a Notice of Appeal to the U.S. Court of Appeals for the Federal Circuit. As of September 30, 2014, the exposure for this financing transaction is fully reserved.

It is reasonably possible that the litigation associated with the financing transaction may conclude within the next twelve months. Changes in the amount of unrecognized tax benefits, penalties and interest could result in a benefit of up to approximately $700 million. The ultimate resolution of these matters may take longer.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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