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Long-Term Debt
 12 Months Ended
Dec. 31, 2022
Long-Term Debt, Unclassified [Abstract]  
Long-Term Debt Long-Term Debt
(Dollars in millions)As of December 31,
Issuance DateMaturity DateCoupon RateSeniorityInterest Due Dates20222021
Parent Company and Non-Banking Subsidiary Issuances
August 18, 2015August 18, 20253.550 %Senior notes
2/18; 8/18(1)
$1,256 $1,370 
May 15, 2013
May 15, 2023(2)
3.100 %Subordinated notes5/15; 11/151,006 1,022 
November 19, 2013November 20, 20233.700 %Senior notes
5/20; 11/20(1)
985 1,043 
December 15, 2014December 16, 20243.300 %Senior notes
6/16; 12/16(1)
962 1,040 
November 1, 2019November 1, 20252.354 %Fixed-to-floating rate senior notes
5/1; 11/1(1)
951 1,019 
March 3, 2021March 3, 20312.200 %Senior subordinated notes3/3; 9/3844 843 
January 24, 2020January 24, 20302.400 %Senior notes1/24, 7/24797 803 
May 19, 2016May 19, 20262.650 %Senior notes
5/19; 11/19(1)
709 779 
August 4, 2022August 4, 20334.164 %Fixed-to-floating rate senior notes
2/4; 8/4(1)
677 — 
February 7, 2022February 7, 20282.203 %Fixed-to-floating rate senior notes8/7; 2/7589 — 
December 3, 2018December 3, 20294.141 %Fixed-to-floating rate senior notes
6/3; 12/3(1)
564 583 
November 1, 2019
November 1, 2034(2)
3.031 %Fixed-to-floating rate senior subordinated notes
5/1; 11/1(1)
532 541 
April 30, 2007June 15, 2047Floating-rateJunior subordinated debentures3/15; 6/15; 9/15; 12/15500 499 
November 4, 2022November 4, 20265.751 %Fixed-to-floating rate senior notes
5/4; 11/4(1)
498 — 
March 30, 2020March 30, 20313.152 %Fixed-to-floating rate senior notes3/30, 9/30498 498 
November 4, 2022November 4, 20285.820 %Fixed-to-floating rate senior notes
5/4; 11/4(1)
497 — 
May 13, 2022May 13, 20334.421 %Fixed-to-floating rate senior notes11/13; 5/13497 — 
November 18, 2021November 18, 20271.684 %Fixed-to-floating rate senior notes5/18; 11/18497 497 
December 3, 2018December 3, 20243.776 %Fixed-to-floating rate senior notes
6/3; 12/3(1)
492 523 
March 30, 2020March 30, 20262.901 %Fixed-to-floating rate senior notes
6/3; 12/3(1)
473 498 
February 7, 2022February 7, 20332.623 %Fixed-to-floating rate senior notes8/7; 2/7466 — 
February 7, 2022February 7, 20261.746 %Fixed-to-floating rate senior notes8/7; 2/7280 — 
June 21, 1996
June 15, 2026(3)
7.350 %Senior notes6/15; 12/15150 150 
May 15, 1998May 15, 2028Floating-rateJunior subordinated debentures
2/15; 5/15; 8/15; 11/15(1)
100 100 
May 15, 2017
May 15, 2023(4)
2.653 %Fixed-to-floating rate senior notes5/15; 11/15— 754 
March 30, 2020
March 30, 2023(4)
2.825 %Fixed-to-floating rate senior notes3/30, 9/30— 749 
Parent Company and Banking Subsidiaries
Long-term finance leases176 164 
Total long-term debt$14,996 $13,475 
(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, 2022 and 2021, the carrying value of long-term debt associated with these fair value hedges was $282 million and $450 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.
(4) We redeemed the notes prior to original maturity date.
Parent Company and Banking Subsidiaries
As of December 31, 2022, long-term finance leases included $176 million related to information technology equipment leases. As of December 31, 2021, long-term finance leases included $164 million related to information technology equipment leases entered into in 2021, and our One Lincoln Street headquarters building and related underground parking garage. Refer to Note 20 for additional information.