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Stockholders' Equity (Tables)
 9 Months Ended
Sep. 30, 2015
Equity [Abstract]  
Schedule of Preferred Stock
The following table summarizes the Company’s preferred stock issued and outstanding as of September 30, 2015 and December 31, 2014.
Table 10.1: Preferred Stock Issued and Outstanding
 
 
 
 
 
 
 
 
 
 
Liquidation Preference per Share
 
 
 
Carrying Value
(in millions)
Series
 
Description
 
Issuance Date
 
Redeemable by Issuer Beginning
 
Per Annum Dividend Rate
 
 
Total Shares Outstanding
 
September 30, 2015
 
December 31, 2014
Series B(1)
 
6.00%
Non-Cumulative
 
August 20, 2012
 
September 1, 2017
 
6.00%
 
$
1,000

 
875,000

 
$
853

 
$
853

Series C(1)
 
6.25%
Non-Cumulative
 
June 12, 2014
 
September 1, 2019
 
6.25
 
1,000

 
500,000

 
484

 
484

Series D(1)
 
6.70%
Non-Cumulative
 
October 31, 2014
 
December 1, 2019
 
6.70
 
1,000

 
500,000

 
485

 
485

Series E
 
Fixed-to-Floating Rate Non-Cumulative
 
May 14, 2015
 
June 1, 2020
 
5.55% through 5/31/2020;
3-mo. LIBOR+ 380 bps thereafter
 
1,000

 
1,000,000

 
988

 
N/A

Series F(1)
 
6.20%
Non-Cumulative
 
August 24, 2015
 
December 1, 2020
 
6.20
 
1,000

 
500,000

 
484

 
N/A

Total
 
 
 
 
 
 
 
 
 
 
 
 
 
$
3,294

 
$
1,822

__________
(1) 
Ownership is held in the form of depositary shares, each representing a 1/40th interest in a share of fixed-rate non-cumulative perpetual preferred stock
Change in AOCI Gain (Loss) by Component (Net of Tax)
The following table presents the changes in AOCI by component for the three and nine months ended September 30, 2015 and 2014.
Table 10.2: Accumulated Other Comprehensive Income
 
 
Three Months Ended September 30, 2015
(Dollars in millions)
 
Securities
Available
for Sale
 
Securities Held to Maturity(1)
 
Cash Flow
Hedges
 
Foreign
Currency
Translation
Adjustments(2)
 
Other
 
Total
AOCI as of June 30, 2015
 
$
366

 
$
(774
)
 
$
91

 
$
(57
)
 
$
(23
)
 
$
(397
)
Other comprehensive income (loss) before reclassifications
 
60

 
0

 
267

 
(52
)
 
(7
)
 
268

Amounts reclassified from AOCI into earnings
 
2

 
25

 
(37
)
 
0

 
(3
)
 
(13
)
Net other comprehensive income (loss)
 
62

 
25

 
230

 
(52
)
 
(10
)
 
255

AOCI as of September 30, 2015
 
$
428

 
$
(749
)
 
$
321

 
$
(109
)
 
$
(33
)
 
$
(142
)
 
 
Nine Months Ended September 30, 2015
(Dollars in millions)
 
Securities
Available
for Sale
 
Securities Held to Maturity(1)
 
Cash Flow
Hedges
 
Foreign
Currency
Translation Adjustments(2)
 
Other
 
Total
AOCI as of December 31, 2014
 
$
410

 
$
(821
)
 
$
10

 
$
(8
)
 
$
(21
)
 
$
(430
)
Other comprehensive income (loss) before reclassifications
 
3

 
0

 
433

 
(101
)
 
(8
)
 
327

Amounts reclassified from AOCI into earnings
 
15

 
72

 
(122
)
 
0

 
(4
)
 
(39
)
Net other comprehensive income (loss)
 
18

 
72

 
311

 
(101
)
 
(12
)
 
288

AOCI as of September 30, 2015
 
$
428

 
$
(749
)
 
$
321

 
$
(109
)
 
$
(33
)
 
$
(142
)

 
 
Three Months Ended September 30, 2014
(Dollars in millions)
 
Securities
Available
for Sale
 
Securities Held to Maturity(1)
 
Cash Flow
Hedges
 
Foreign
Currency
Translation Adjustments(2)
 
Other
 
Total
AOCI as of June 30, 2014
 
$
419

 
$
(863
)
 
$
(20
)
 
$
106

 
$
(13
)
 
$
(371
)
Other comprehensive (loss) income before reclassifications
 
(67
)
 
0

 
(39
)
 
(82
)
 
3

 
(185
)
Amounts reclassified from AOCI into earnings
 
2

 
22

 
(29
)
 
0

 
2

 
(3
)
Net other comprehensive (loss) income
 
(65
)
 
22

 
(68
)
 
(82
)
 
5

 
(188
)
AOCI as of September 30, 2014
 
$
354

 
$
(841
)
 
$
(88
)
 
$
24

 
$
(8
)
 
$
(559
)
 
 
Nine Months Ended September 30, 2014
(Dollars in millions)
 
Securities
Available
for Sale
 
Securities Held to Maturity(1)
 
Cash Flow
Hedges
 
Foreign
Currency
Translation Adjustments(2)
 
Other
 
Total
AOCI as of December 31, 2013
 
$
106

 
$
(897
)
 
$
(110
)
 
$
40

 
$
(11
)
 
$
(872
)
Other comprehensive income (loss) before reclassifications
 
250

 
0

 
96

 
(16
)
 
6

 
336

Amounts reclassified from AOCI into earnings
 
(2
)
 
56

 
(74
)
 
0

 
(3
)
 
(23
)
Net other comprehensive income (loss)
 
248

 
56

 
22

 
(16
)
 
3

 
313

AOCI as of September 30, 2014
 
$
354

 
$
(841
)
 
$
(88
)
 
$
24

 
$
(8
)
 
$
(559
)
__________
(1) 
The amortization of unrealized holding gains or losses reported in AOCI for securities held to maturity will be offset by the amortization of the premium or discount present at the date of transfer from the securities available for sale to securities held to maturity, which occurred at fair value. These unrealized gains or losses will be recorded over the remaining life of the security with no expected impact on future net income.
(2) 
Includes the impact from hedging instruments designated as net investment hedges
Reclassifications from AOCI
The following table presents the impacts on net income of amounts reclassified from each component of AOCI for the three and nine months ended September 30, 2015 and 2014.
Table 10.3: Reclassifications from AOCI
 
 
 
 
Amount Reclassified from AOCI
(Dollars in millions)
 
 
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
AOCI Components
 
Affected Income Statement Line Item
 
2015
 
2014
 
2015
 
2014
Securities available for sale:
 
 
 
 
 
 
 
 
 
 
 
 
Non-interest income
 
$
3

 
$
6

 
$
4

 
$
18

 
 
Non-interest income - OTTI
 
(5
)
 
(9
)
 
(27
)
 
(15
)
 
 
(Loss) income from continuing operations before income taxes
 
(2
)
 
(3
)
 
(23
)
 
3

 
 
Income tax (benefit) provision
 
0

 
(1
)
 
(8
)
 
1

 
 
Net (loss) income
 
(2
)
 
(2
)
 
(15
)
 
2

Securities held to maturity:(1)
 
 
 
 
 
 
 
 
 
 
 
 
Non-interest income
 
(41
)
 
(35
)
 
(114
)
 
(96
)
 
 
Income tax benefit
 
(16
)
 
(13
)
 
(42
)
 
(40
)
 
 
Net loss
 
(25
)
 
(22
)
 
(72
)
 
(56
)
Cash flow hedges:
 
 
 
 
 
 
 
 
 
 
Interest rate contracts:
 
Interest income
 
64

 
54

 
217

 
144

Foreign exchange contracts:
 
Non-interest income
 
(4
)
 
(7
)
 
(23
)
 
(25
)
 
 
Income from continuing operations before income taxes
 
60

 
47

 
194

 
119

 
 
Income tax provision
 
23

 
18

 
72

 
45

 
 
Net income
 
37

 
29

 
122

 
74

Other:
 
 
 
 
 
 
 
 
 
 
 
 
Various (pension and other)
 
2

 
2

 
4

 
10

 
 
Income tax (benefit) provision
 
(1
)
 
4

 
0

 
7

 
 
Net income (loss)
 
3

 
(2
)
 
4

 
3

Total reclassifications
 
$
13

 
$
3

 
$
39

 
$
23

__________
(1) 
The amortization of unrealized holding gains or losses reported in AOCI for securities held to maturity will be offset by the amortization of the premium or discount created from the transfer into securities held to maturity, which occurred at fair value.
Components of Other Comprehensive Income (Loss) and Related Tax Impact
The table below summarizes other comprehensive income activity and the related tax impact for the three and nine months ended September 30, 2015 and 2014.
Table 10.4: Other Comprehensive Income (Loss)
 
 
Three Months Ended September 30,
 
 
2015
 
2014
(Dollars in millions)
 
Before
Tax
 
Provision
(Benefit)
 
After
Tax
 
Before
Tax
 
Provision
(Benefit)
 
After
Tax
Other comprehensive income (loss):
 
 
 
 
 
 
 
 
 
 
 
 
Net unrealized gains (losses) on securities available for sale
 
$
98

 
$
36

 
$
62

 
$
(104
)
 
$
(39
)
 
$
(65
)
Net changes in securities held to maturity
 
41

 
16

 
25

 
35

 
13

 
22

Net unrealized gains (losses) on cash flow hedges
 
365

 
135

 
230

 
(107
)
 
(39
)
 
(68
)
Foreign currency translation adjustments(1)
 
(15
)
 
37

 
(52
)
 
(41
)
 
41

 
(82
)
Other
 
(15
)
 
(5
)
 
(10
)
 
6

 
1

 
5

Other comprehensive income (loss)
 
$
474

 
$
219

 
$
255

 
$
(211
)
 
$
(23
)
 
$
(188
)
 
 
Nine Months Ended September 30,
 
 
2015
 
2014
(Dollars in millions)
 
Before
Tax
 
Provision
(Benefit)
 
After
Tax
 
Before
Tax
 
Provision
(Benefit)
 
After
Tax
Other comprehensive income (loss):
 
 
 
 
 
 
 
 
 
 
 
 
Net unrealized gains on securities available for sale
 
$
29

 
$
11

 
$
18

 
$
394

 
$
146

 
$
248

Net changes in securities held to maturity
 
114

 
42

 
72

 
96

 
40

 
56

Net unrealized gains on cash flow hedges
 
494

 
183

 
311

 
37

 
15

 
22

Foreign currency translation adjustments(1)
 
(77
)
 
24

 
(101
)
 
25

 
41

 
(16
)
Other
 
(19
)
 
(7
)
 
(12
)
 
2

 
(1
)
 
3

Other comprehensive income
 
$
541

 
$
253

 
$
288

 
$
554

 
$
241

 
$
313

__________
(1) 
Includes the impact from hedging instruments designated as net investment hedges.