Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2016

Long-term Debt, Unclassified [Abstract]

Schedule of Long-term Debt

(Dollars in millions)						As of December 31,
Issuance Date	Maturity Date	Coupon Rate		Seniority	Interest Due Dates	2016		2015(6)
Statutory business trusts(5):
April 30, 2007	June 15, 2037	Floating-rate		Junior subordinated debentures	3/15; 6/15; 9/15; 12/15	$	—	$	793
May 15, 1998	May 15, 2028	Floating-rate		Junior subordinated debentures	2/15; 5/15; 8/15; 11/15	—		155
Parent company and non-banking subsidiary issuances:
August 18, 2015	August 18, 2025	3.55	%	Senior notes	2/18; 8/18(1)	1,293		1,301
August 18, 2015	August 18, 2020	2.55	%	Senior notes	2/18; 8/18(1)	1,192		1,194
November 19, 2013	November 20, 2023	3.7	%	Senior notes	5/20; 11/20(1)	1,033		1,046
December 15, 2014	December 16, 2024	3.3	%	Senior notes	6/16; 12/16(1)	999		1,007
May 15, 2013	May 15, 2023(2)	3.1	%	Subordinated notes	5/15; 11/15(1)	987		993
April 30, 2007(5)	June 15, 2037	Floating-rate		Junior subordinated debentures	3/15; 6/15; 9/15; 12/15	793		—
March 7, 2011	March 7, 2021	4.375	%	Senior notes	3/7; 9/7(1)	738		738
May 19, 2016	May 19, 2021	1.95	%	Senior notes	5/19; 11/19(1)	726		—
May 19, 2016	May 19, 2026	2.65	%	Senior notes	5/19; 11/19(1)	704		—
February 11, 2011	March 15, 2018(3)	4.956	%	Junior subordinated debentures	3/15; 9/15(1)	511		519
August 18, 2015	August 18, 2020	Floating-rate		Senior notes	2/18; 5/18; 8/18; 11/18	499		498
May 15, 2013	May 15, 2018	1.35	%	Senior notes	5/15; 11/15(1)	497		495
April 30, 2007	April 30, 2017	5.375	%	Senior notes	4/30; 10/30	450		449
May 15, 1998(5)	May 15, 2028	Floating-rate		Junior subordinated debentures	2/15; 5/15; 8/15; 11/15	150		—
June 21, 1996	June 15, 2026(4)	7.35	%	Senior notes	6/15; 12/15	150		150
March 7, 2011	March 7, 2016	2.875	%	Senior notes	3/7	—		1,001
Parent company:
Long-term capital leases						293		334
State Street Bank issuances:
September 24, 2003	October 15, 2018(2)	5.25	%	Subordinated notes	4/15; 10/15	415		424
December 8, 2005	January 15, 2016	5.3	%	Subordinated notes	1/15	—		400
Total long-term debt						$	11,430	$	11,497

⁽¹⁾  We have entered into interest-rate swap agreements, recorded as fair value hedges, to modify our interest expense on these senior and subordinated notes from a fixed rate to a floating rate. As of December 31, 2016, the carrying value of long-term debt associated with these fair value hedges decreased $15 million. As of December 31, 2015, the carrying value of long-term debt associated with these fair value hedges increased $105 million. Refer to Note 10 for additional information about fair value hedges.

⁽²⁾  The subordinated notes qualify for inclusion in tier 2 regulatory capital under current federal regulatory capital guidelines.

⁽³⁾  We do not have the right to redeem the debenture prior to maturity other than upon the occurrence of specified events. Such redemption is subject to federal regulatory approval. The junior subordinated debenture qualify for inclusion in tier 2 regulatory capital under current federal regulatory capital guidelines.

⁽⁴⁾  We may not redeem the note prior to their maturity.

⁽⁵⁾  On December 21, 2016, the statutory business trusts were liquidated and the floating-rate junior subordinated debentures issuances of the statutory business trusts were exchanged for a like principal amount of State Street Corporation's floating-rate junior subordinated debentures with the same maturity dates.

⁽⁶⁾  Refer to Note 1 regarding the retrospective application of ASU 2015-03, which resulted in the netting of debt issuance costs within long-term debt.