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CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($)
$ in Millions
Jun. 30, 2024
Dec. 31, 2023
Assets    
Cash and due from banks $ 2,837 $ 3,142
Other short-term investments [1] 21,085 22,082
Available-for-sale debt and other securities (amortized cost of $43,596 and $55,789) 38,986 50,419
Held-to-maturity securities 11,443 2
Trading debt securities 1,132 899
Equity securities 476 613
Loans and leases held for sale (includes $512 and $334 of residential mortgage loans measured at fair value) 537 378
Portfolio loans and leases(a) (includes $109 and $116 of residential mortgage loans measured at fair value) [1] 116,579 117,234
Allowance for loan and lease losses [1] (2,288) (2,322)
Portfolio loans and leases, net 114,291 114,912
Bank premises and equipment (includes $16 and $19 held for sale) 2,389 2,349
Operating lease equipment 392 459
Goodwill 4,918 4,919
Intangible assets 107 125
Servicing rights 1,731 1,737
Other assets [1] 12,938 12,538
Total Assets 213,262 214,574 Close
Deposits:    
Noninterest-bearing deposits 40,617 43,146
Interest-bearing deposits 126,151 125,766
Total deposits 166,768 168,912
Federal funds purchased 194 193
Other short-term borrowings 3,370 2,861
Accrued taxes, interest and expenses 2,040 2,195
Other liabilities [1] 5,371 4,861
Long-term debt [1] 16,293 16,380
Total Liabilities 194,036 195,402 Close
Equity    
Common stock [2] 2,051 2,051
Preferred stock [3] 2,116 2,116
Capital surplus 3,764 3,757
Retained earnings 23,542 22,997
Accumulated other comprehensive loss (4,901) (4,487)
Treasury stock [2] (7,346) (7,262)
Total Equity 19,226 19,172 Close
Total Liabilities and Equity $ 213,262 $ 214,574
[1] Includes $52 and $55 of other short-term investments, $1,272 and $1,573 of portfolio loans and leases, $(23) and $(28) of ALLL, $7 and $10 of other assets, $13 and $14 of other liabilities and $1,136 and $1,409 of long-term debt from consolidated VIEs that are included in their respective captions above at June 30, 2024 and December 31, 2023, respectively. For further information, refer to Note 11.
[2] Common shares: Stated value $2.22 per share; authorized 2,000,000,000; outstanding at June 30, 2024 – 680,789,253 (excludes 243,103,328 treasury shares), December 31, 2023 – 681,124,810 (excludes 242,767,771 treasury shares).
[3] 500,000 shares of no par value preferred stock were authorized at both June 30, 2024 and December 31, 2023. There were 422,000 unissued shares of undesignated no par value preferred stock at both June 30, 2024 and December 31, 2023. Each issued share of no par value preferred stock has a liquidation preference of $25,000. 500,000 shares of no par value Class B preferred stock were authorized at both June 30, 2024 and December 31, 2023. There were 300,000 unissued shares of undesignated no par value Class B preferred stock at both June 30, 2024 and December 31, 2023. Each issued share of no par value Class B preferred stock has a liquidation preference of $1,000.