v3.25.4
Parent Company Information
 12 Months Ended
Dec. 31, 2025
Condensed Financial Information Disclosure [Abstract]  
Parent Company Information Parent Company Information
The following tables present the Parent Company-only financial information.
Condensed Statement of Income
(Dollars in millions)202520242023
Income   
Dividends from subsidiaries:   
Bank holding companies and related subsidiaries$33,600 $21,300 $22,384 
Interest from subsidiaries19,676 21,589 21,314 
Other income (loss)(1,336)(1,223)(1,012)
Total income51,940 41,666 42,686 
Expense   
Interest on borrowed funds from subsidiaries1,071 1,108 896 
Other interest expense11,750 14,060 14,119 
Noninterest expense1,576 1,580 1,699 
Total expense14,397 16,748 16,714 
Income before income taxes and equity in undistributed earnings of subsidiaries37,543 24,918 25,972 
Income tax expense 808 773 838 
Income before equity in undistributed earnings of subsidiaries36,735 24,145 25,134 
Equity in undistributed earnings (losses) of subsidiaries:   
Bank holding companies and related subsidiaries(6,338)2,750 993 
Nonbank companies and related subsidiaries112 78 178 
Total equity in undistributed earnings (losses) of subsidiaries(6,226)2,828 1,171 
Net income$30,509 $26,973 $26,305 
Condensed Balance Sheet
 December 31
(Dollars in millions)20252024
Assets  
Cash held at bank subsidiaries$7,686 $4,613 
Securities703 660 
Receivables from subsidiaries:
Bank holding companies and related subsidiaries254,525 231,931 
Banks and related subsidiaries59 146 
Nonbank companies and related subsidiaries441 985 
Investments in subsidiaries:
Bank holding companies and related subsidiaries310,216 309,361 
Nonbank companies and related subsidiaries3,907 3,783 
Other assets6,246 6,658 
Total assets $583,783 $558,137 
Liabilities and shareholders’ equity  
Accrued expenses and other liabilities$16,498 $16,360 
Payables to subsidiaries:
Banks and related subsidiaries214 114 
Bank holding companies and related subsidiaries388 14 
Nonbank companies and related subsidiaries29,324 21,011 
Long-term debt234,116 226,675 
Total liabilities280,540 264,174 
Shareholders’ equity303,243 293,963 
Total liabilities and shareholders’ equity$583,783 $558,137 
Condensed Statement of Cash Flows
(Dollars in millions)202520242023
Operating activities   
Net income $30,509 $26,973 $26,305 
Reconciliation of net income (loss) to net cash provided by operating activities:
   
Equity in undistributed (earnings) losses of subsidiaries6,226 (2,828)(1,171)
Other operating activities, net10,202 1,986 3,395 
Net cash provided by operating activities
46,937 26,131 28,529 
Investing activities   
Net purchases of securities
(17)(17)(15)
Net payments from (to) subsidiaries(22,125)16,858 (21,267)
Other investing activities, net(24)— (43)
Net cash provided by (used in) investing activities(22,166)16,841 (21,325)
Financing activities   
Net increase in short-term borrowings
1 — — 
Net increase in other advances8,748 3,542 2,825 
Proceeds from issuance of long-term debt36,510 17,817 23,950 
Retirement of long-term debt(38,785)(36,416)(25,366)
Proceeds from issuance of preferred stock and warrants5,493 — — 
Redemption of preferred stock(2,669)(5,254)— 
Common stock repurchased(21,433)(13,104)(4,576)
Cash dividends paid(9,563)(9,503)(9,087)
Net cash used in financing activities
(21,698)(42,918)(12,254)
Net increase (decrease) in cash held at bank subsidiaries3,073 54 (5,050)
Cash held at bank subsidiaries at January 14,613 4,559 9,609 
Cash held at bank subsidiaries at December 31$7,686 $4,613 $4,559