Stockholders' Equity (Tables)

3 Months Ended

Mar. 31, 2017

Equity [Abstract]

Schedule of Preferred Stock

The following table summarizes the Company’s preferred stock issued and outstanding as of March 31, 2017 and December 31, 2016.

Table 10.1: Preferred Stock Issued and Outstanding⁽¹⁾

			Redeemable by Issuer Beginning	Per Annum Dividend Rate	Dividend Frequency	Liquidation Preference per Share			Carrying Value (in millions)
Series	Description	Issuance Date						Total Shares Outstanding	March 31, 2017		December 31, 2016
Series B	6.00% Non-Cumulative	August 20, 2012	September 1, 2017	6.00%	Quarterly	$	1,000	875,000	$	853	$	853
Series C	6.25% Non-Cumulative	June 12, 2014	September 1, 2019	6.25	Quarterly	1,000		500,000	484		484
Series D	6.70% Non-Cumulative	October 31, 2014	December 1, 2019	6.70	Quarterly	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	Semi-Annually through 5/31/2020; Quarterly thereafter	1,000		1,000,000	988		988
Series F	6.20% Non-Cumulative	August 24, 2015	December 1, 2020	6.20	Quarterly	1,000		500,000	484		484
Series G	5.20% Non-Cumulative	July 29, 2016	December 1, 2021	5.20	Quarterly	1,000		600,000	583		583
Series H	6.00% Non-Cumulative	November 29, 2016	December 1, 2021	6.00	Quarterly	1,000		500,000	483		483
Total									$	4,360	$	4,360

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⁽¹⁾  With the exception of Series E, 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 months ended March 31, 2017 and 2016.

Table 10.2: Accumulated Other Comprehensive Income

(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, 2016	$	(4	)	$	(621	)	$	(78	)	$	(222	)	$	(24	)	$	(949	)
Other comprehensive income (loss) before reclassifications	36			0			(26		)	17			7			34
Amounts reclassified from AOCI into earnings	0			23			(40		)	0			(2		)	(19		)
Net other comprehensive income (loss)	36			23			(66		)	17			5			15
AOCI as of March 31, 2017	$	32		$	(598	)	$	(144	)	$	(205	)	$	(19	)	$	(934	)

(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, 2015	$	162	$	(725	)	$	120		$	(143	)	$	(30	)	$	(616	)
Other comprehensive income (loss) before reclassifications	182		0			426			1			(13		)	596
Amounts reclassified from AOCI into earnings	5		21			(49		)	0			2			(21		)
Net other comprehensive income (loss)	187		21			377			1			(11		)	575
AOCI as of March 31, 2016	$	349	$	(704	)	$	497		$	(142	)	$	(41	)	$	(41	)

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⁽¹⁾  The amortization of unrealized holding gains or losses reported in AOCI for securities held to maturity will be offset by the amortization of premium or discount created from the transfer of securities from available for sale to held to maturity, which occurred at fair value. These unrealized gains or losses will be amortized 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 months ended March 31, 2017 and 2016.

Table 10.3: Reclassifications from AOCI

		Amount Reclassified from AOCI
(Dollars in millions)		Three Months Ended March 31,
AOCI Components	Affected Income Statement Line Item	2017			2016
Securities available for sale:
	Non-interest income	$	0		$	(8	)
	Income tax provision (benefit)	0			(3		)
	Net income (loss)	0			(5		)
Securities held to maturity:(1)
	Interest income	(36		)	(33		)
	Income tax provision (benefit)	(13		)	(12		)
	Net income (loss)	(23		)	(21		)
Cash flow hedges:
Interest rate contracts:	Interest income	58			79
Foreign exchange contracts:	Interest income	6			(1		)
	Non-interest income	0			(1		)
	Income from continuing operations before income taxes	64			77
	Income tax provision	24			28
	Net income	40			49
Other:
	Various (pension and other)	2			(2		)
	Income tax provision	0			0
	Net income	2			(2		)
Total reclassifications		$	19		$	21

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⁽¹⁾  The amortization of unrealized holding gains or losses reported in AOCI for securities held to maturity will be offset by the amortization of premium or discount created from the transfer of securities from available for sale to held to maturity, which occurred at fair value. These unrealized gains or losses will be amortized over the remaining life of the security with no expected impact on future net

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 months ended March 31, 2017 and 2016.

Table 10.4: Other Comprehensive Income (Loss)

	Three Months Ended March 31,
	2017									2016
(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	$	46		$	10		$	36		$	296		$	109		$	187
Net changes in securities held to maturity	36			13			23			33			12			21
Net unrealized gains (losses) on cash flow hedges	(104		)	(38		)	(66		)	600			223			377
Foreign currency translation adjustments(1)	4			(13		)	17			26			25			1
Other	7			2			5			(17		)	(6		)	(11		)
Other comprehensive income (loss)	$	(11	)	$	(26	)	$	15		$	938		$	363		$	575

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