Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2018

Long-term Debt, Unclassified [Abstract]



(Dollars in millions)						As of December 31,
Issuance Date	Maturity Date	Coupon Rate		Seniority	Interest Due Dates	2018		2017
Parent Company And Non-Banking Subsidiary Issuances
August 18, 2015	August 18, 2025	3.55	%	Senior notes	2/18; 8/18⁽¹⁾	$	1,268	$	1,287
August 18, 2015	August 18, 2020	2.55	%	Senior notes	2/18; 8/18	1,177		1,184
November 19, 2013	November 20, 2023	3.7	%	Senior notes	5/20; 11/20⁽¹⁾	1,006		1,021
December 15, 2014	December 16, 2024	3.3	%	Senior notes	6/16; 12/16⁽¹⁾	979		993
May 15, 2013	May 15, 2023⁽²⁾	3.1	%	Subordinated notes	5/15; 11/15⁽¹⁾	972		981
April 30, 2007	June 15, 2047	Floating-rate		Junior subordinated debentures	3/15; 6/15; 9/15; 12/15	794		793
May 15, 2017	May 15, 2023	2.653	%	Fixed-to-floating rate senior notes	5/15; 11/15⁽¹⁾	734		740
March 7, 2011	March 7, 2021	4.375	%	Senior notes	3/7; 9/7⁽¹⁾	731		734
May 19, 2016	May 19, 2021	1.95	%	Senior notes	5/19; 11/19⁽¹⁾	725		724
May 19, 2016	May 19, 2026	2.65	%	Senior notes	5/19; 11/19⁽¹⁾	698		706
December 3, 2018	December 3, 2029	4.141	%	Fixed-to-floating rate senior notes	6/3; 12/3⁽¹⁾	513		—
December 3, 2018	December 3, 2024	3.776	%	Fixed-to-floating rate senior notes	6/3; 12/3⁽¹⁾	507		—
August 18, 2015	August 18, 2020	Floating-rate		Senior notes	2/18; 5/18; 8/18; 11/18	499		499
May 15, 1998	May 15, 2028	Floating-rate		Junior subordinated debentures	2/15; 5/15; 8/15; 11/15	150		150
June 21, 1996	June 15, 2026⁽³⁾	7.35	%	Senior notes	6/15; 12/15	150		150
February 11, 2011	March 15, 2018	4.956	%	Junior subordinated debentures	3/15; 9/15	—		502
May 15, 2013	May 15, 2018	1.35	%	Senior notes	5/15; 11/15	—		499
Parent Company
Long-term capital leases						190		250
State Street Bank issuances
September 24, 2003	October 15, 2018⁽²⁾	5.25	%	Subordinated notes	4/15; 10/15	—		407
Total long-term debt						$	11,093	$	11,620

⁽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, 2018 and 2017, the carrying value of long-term debt associated with these fair value hedges decreased $157 million and $87 million, respectively. 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 may not redeem notes prior to their maturity.

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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+ Details