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Shareholders' Equity
 6 Months Ended
Jun. 30, 2025
Equity [Abstract]  
Shareholders' Equity Shareholders’ Equity
Dividends on Common and Preferred Stock

The following table presents total dividends declared per share of common and preferred stock:

(Dollars in millions, except per share data)Dividends Per ShareAggregate Dividends
Three Months Ended June 30,Six Months Ended June 30,Three Months Ended June 30,Six Months Ended June 30,
20252024202520242025202420252024
Common stock$0.52 $0.52 $1.04 $1.04 $670 $696 $1,349 $1,390 
Preferred stock:
Series I1,286.86 1,598.23 2,588.71 3,159.45 2 3 4 5 
Series J1,315.93 1,628.26 2,646.85 3,218.54 2 2 3 3 
Series L— 2,269.81 — 4,481.17 — 16 — 33 
Series M2,562.50 2,562.50 2,562.50 2,562.50 13 13 13 13 
Series N— — 833.63 600.00 — — 56 41 
Series O328.13 328.13 656.25 656.25 7 7 15 15 
Series P618.75 618.75 618.75 618.75 25 25 25 25 
Series Q— — 637.50 637.50 — — 26 26 
Series R296.88 296.88 593.75 593.75 11 11 22 22 
Total preferred stock$60 $77 $164 $183 

Share Repurchase Activity

In June 2024, Truist announced that the Board had authorized the repurchase of up to $5.0 billion of common stock beginning in the third quarter of 2024 through 2026 as part of Truist’s overall capital distribution strategy. For the six months ended June 30, 2025, the Company repurchased $1.3 billion of common stock, including excise tax, which represented 31.5 million shares, through open market repurchases. Repurchased shares revert to the status of authorized and unissued shares upon repurchase. At June 30, 2025, Truist had remaining authorization to repurchase up to $2.8 billion of common stock under the Board approved repurchase plan.