Parent Company Financial Statements

12 Months Ended

Dec. 31, 2013

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Parent Company Financial Statements

Parent Company Financial Statements

The following tables present the financial statements of the parent company without consolidation of its banking and non-banking subsidiaries, as of and for the years ended December 31:

STATEMENT OF INCOME - PARENT COMPANY

Years Ended December 31,	2013			2012			2011
(In millions)
Cash dividends from consolidated banking subsidiary	$	1,694		$	1,785		$	—
Cash dividends from consolidated non-banking subsidiaries and unconsolidated entities	250			68			60
Other, net	35			38			34
Total revenue	1,979			1,891			94
Interest expense	169			163			203
Other expenses	88			85			60
Total expenses	257			248			263
Income tax benefit	(84		)	(63		)	(125		)
Income (loss) before equity in undistributed income of consolidated subsidiaries and unconsolidated entities	1,806			1,706			(44		)
Equity in undistributed income of consolidated subsidiaries and unconsolidated entities:
Consolidated banking subsidiary	237			173			1,773
Consolidated non-banking subsidiaries and unconsolidated entities	93			182			191
Net income	$	2,136		$	2,061		$	1,920

STATEMENT OF CONDITION - PARENT COMPANY

As of December 31,	2013		2012
(In millions)
Assets:
Interest-bearing deposits with consolidated banking subsidiary	$	4,419	$	3,799
Trading account assets	216		155
Investment securities available for sale	31		28
Investments in subsidiaries:
Consolidated banking subsidiary	19,985		19,805
Consolidated non-banking subsidiaries	2,617		2,563
Unconsolidated entities	272		458
Notes and other receivables from:
Consolidated banking subsidiary	1,528		746
Consolidated non-banking subsidiaries and unconsolidated entities	256		258
Other assets	327		294
Total assets	$	29,651	$	28,106
Liabilities:
Commercial paper	$	1,819	$	2,318
Accrued expenses and other liabilities	447		313
Long-term debt	7,007		4,606
Total liabilities	9,273		7,237
Shareholders’ equity	20,378		20,869
Total liabilities and shareholders’ equity	$	29,651	$	28,106

STATEMENT OF CASH FLOWS - PARENT COMPANY

Years Ended December 31,	2013			2012			2011
(In millions)
Net cash provided by (used in) operating activities	$	2,296		$	2,706		$	(571	)
Investing Activities:
Net decrease (increase) in interest-bearing deposits with consolidated banking subsidiary	(620		)	1,115			144
Investments in consolidated banking and non-banking subsidiaries	(1,100		)	(68		)	(648		)
Sale or repayment of investment in consolidated banking and non-banking subsidiaries	32			28			39
Business acquisitions	—			(2		)	(51		)
Net cash provided by (used in) investing activities	(1,688		)	1,073			(516		)
Financing Activities:
Net decrease in short-term borrowings	—			(500		)	—
Net decrease in commercial paper	(499		)	(66		)	(415		)
Proceeds from issuance of long-term debt, net of issuance costs	2,485			—			1,986
Payments for long-term debt	—			(1,750		)	—
Proceeds from issuance of preferred stock, net of issuance costs	—			488			500
Proceeds from exercises of common stock options	121			53			49
Purchases of common stock	(2,040		)	(1,440		)	(675		)
Repurchases of common stock for employee tax withholding	(189		)	(101		)	(63		)
Payments for cash dividends	(486		)	(463		)	(295		)
Net cash provided by (used in) financing activities	(608		)	(3,779		)	1,087
Net change	—			—			—
Cash and due from banks at beginning of year	—			—			—
Cash and due from banks at end of year	$	—		$	—		$	—