Selected Quarterly Financial Information Selected Quarterly Financial Information

12 Months Ended

Dec. 31, 2014

Quarterly Financial Information Disclosure [Abstract]

Selected Quarterly Financial Information

(Dollars in millions, except per share data) (unaudited)	2014												2013
	Q4			Q3			Q2			Q1			Q4			Q3			Q2			Q1
Summarized results of operations:
Interest income	$	5,045		$	4,887		$	4,712		$	4,753		$	4,839		$	4,998		$	5,010		$	5,051
Interest expense	389			390			397			403			416			438			457			481
Net interest income	4,656			4,497			4,315			4,350			4,423			4,560			4,553			4,570
Provision for credit losses	1,109			993			704			735			957			849			762			885
Net interest income after provision for credit losses	3,547			3,504			3,611			3,615			3,466			3,711			3,791			3,685
Non-interest income	1,157			1,142			1,153			1,020			1,121			1,091			1,085			981
Non-interest expense	3,284			2,985			2,979			2,932			3,235			3,109			3,018			2,991
Income from continuing operations before income taxes	1,420			1,661			1,785			1,703			1,352			1,693			1,858			1,675
Income tax provision	450			536			581			579			477			575			631			541
Income from continuing operations, net of tax	970			1,125			1,204			1,124			875			1,118			1,227			1,134
Income (loss) from discontinued operations, net of tax	29			(44		)	(10		)	30			(23		)	(13		)	(119		)	(78		)
Net income	999			1,081			1,194			1,154			852			1,105			1,108			1,056
Dividends and undistributed earnings allocated to participating securities(2)	(4		)	(5		)	(4		)	(5		)	(4		)	(5		)	(4		)	(5		)
Preferred stock dividends	(21		)	(20		)	(13		)	(13		)	(13		)	(13		)	(13		)	(13		)
Net income available to common stockholders	$	974		$	1,056		$	1,177		$	1,136		$	835		$	1,087		$	1,091		$	1,038
Per common share:
Basic earnings per share:(2)
Income from continuing operations	$	1.71		$	1.97		$	2.09		$	1.94		$	1.50		$	1.89		$	2.08		$	1.92
Income (loss) from discontinued operations	0.05			(0.08		)	(0.02		)	0.05			(0.04		)	(0.02		)	(0.20		)	(0.13		)
Net income	$	1.76		$	1.89		$	2.07		$	1.99		$	1.46		$	1.87		$	1.88		$	1.79
Diluted earnings per share:(2)
Income from continuing operations	$	1.68		$	1.94		$	2.06		$	1.91		$	1.46		$	1.86		$	2.05		$	1.90
Income (loss) from discontinued operations	0.05			(0.08		)	(0.02		)	0.05			(0.03		)	(0.02		)	(0.20		)	(0.13		)
Net income	$	1.73		$	1.86		$	2.04		$	1.96		$	1.43		$	1.84		$	1.85		$	1.77
Weighted average common shares outstanding:
Basic earnings per share	554.3			559.9			567.5			571.0			573.4			582.3			581.5			580.5
Diluted earnings per share	561.8			567.9			577.6			580.3			582.6			591.1			588.8			586.3
Average balance sheet data:
Loans held for investment	$	203,436		$	199,422		$	194,996		$	193,722		$	192,813		$	191,135		$	190,562		$	195,997
Interest-earning assets	273,436			268,890			263,570			262,659			262,957			264,796			266,544			272,345
Total assets	304,711			299,523			294,744			294,275			294,040			294,919			297,748			303,226
Interest-bearing deposits	179,401			179,928			182,053			184,183			184,206			186,752			189,311			190,612
Total deposits	205,355			205,199			206,315			205,842			205,706			208,340			210,650			211,555
Borrowings	43,479			40,314			35,658			35,978			36,463			36,355			36,915			41,574
Total stockholders’ equity	45,576			44,827			43,767			42,859			42,355			41,185			41,490			40,880

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⁽¹⁾  We adopted ASU 2014-01 “Accounting for Investments in Qualified Affordable Housing Projects” (Investments in Qualified Affordable Housing Projects) as of January 1, 2014. See “Note 1—Summary of Significant Accounting Policies” for additional information. Prior period results and related metrics have been recast to conform to this presentation.

⁽²⁾  Dividends and undistributed earnings allocated to participating securities, earnings per share, and preferred stock dividends are computed independently for each period. Accordingly, the sum of each quarter may not agree to the year-to-date total.