Parent Company Only Financial Statements (Tables) - Parent Company [Member]



	December 31
	2019			2018
	(In millions)
Assets
Interest-bearing deposits in other banks	$	1,935		$	1,863
Loans to subsidiaries	20			20
Debt securities available for sale	21			20
Premises and equipment, net	41			44
Investments in subsidiaries:
Banks	16,939			15,953
Non-banks	207			172
	17,146			16,125
Other assets	295			332
Total assets	$	19,458		$	18,404
Liabilities and Stockholders’ Equity
Long-term borrowings	$	2,950		$	3,102
Other liabilities	213			212
Total liabilities	3,163			3,314
Stockholders’ equity:
Preferred stock	1,310			820
Common stock	10			11
Additional paid-in capital	12,685			13,766
Retained earnings	3,751			2,828
Treasury stock, at cost	(1,371		)	(1,371		)
Accumulated other comprehensive income (loss), net	(90		)	(964		)
Total stockholders’ equity	16,295			15,090
Total liabilities and stockholders’ equity	$	19,458		$	18,404

Statements of Income



	Year Ended December 31
	2019			2018			2017
	(In millions)
Income:
Dividends received from subsidiaries	$	1,675		$	2,190		$	1,300
Interest from subsidiaries	4			3			7
Other	7			7			2
	1,686			2,200			1,309
Expenses:
Salaries and employee benefits	54			52			65
Interest	153			123			81
Furniture and equipment expense	5			4			4
Other	84			76			69
	296			255			219
Income before income taxes and equity in undistributed earnings of subsidiaries	1,390			1,945			1,090
Income tax benefit	(68		)	(64		)	(65		)
Income from continuing operations	1,458			2,009			1,155
Discontinued operations:
Income (loss) from discontinued operations before income taxes	—			271			8
Income tax expense	—			80			2
Income (loss) from discontinued operations, net of tax	—			191			6
Income before equity in undistributed earnings of subsidiaries and preferred dividends	1,458			2,200			1,161
Equity in undistributed earnings of subsidiaries:
Banks	110			(454		)	74
Non-banks	14			13			28
	124			(441		)	102
Net income	1,582			1,759			1,263
Preferred stock dividends	(79		)	(64		)	(64		)
Net income available to common shareholders	$	1,503		$	1,695		$	1,199

Statements of Cash Flows



	Year Ended December 31
	2019			2018			2017
	(In millions)
Operating activities:
Net income	$	1,582		$	1,759		$	1,263
Adjustments to reconcile net cash from operating activities:
Equity in undistributed earnings of subsidiaries	(124		)	441			(102		)
Depreciation, amortization and accretion, net	4			3			2
Loss on sale of assets	—			—			1
Loss on early extinguishment of debt	16			—			—
(Gain) on sale of business	—			(281		)	—
Net change in operating assets and liabilities:
Other assets	18			(35		)	(19		)
Other liabilities	(7		)	(8		)	2
Other	122			31			41
Net cash from operating activities	1,611			1,910			1,188
Investing activities:
(Investment in) / repayment of investment in subsidiaries	(18		)	146			142
Proceeds from sales and maturities of debt securities available for sale	5			8			9
Purchases of debt securities available for sale	(6		)	(10		)	(6		)
Net (purchases of) / proceeds from sales of assets	—			—			6
Proceeds from disposition of business, net of cash transferred	—			357			—
Other, net	—			—			2
Net cash from investing activities	(19		)	501			153
Financing activities:
Net change in short-term borrowings	—			(101		)	—
Proceeds from long-term borrowings	500			500			999
Payments on long-term borrowings	(751		)	—			—
Cash dividends on common stock	(577		)	(452		)	(346		)
Cash dividends on preferred stock	(79		)	(64		)	(64		)
Net proceeds from issuance of preferred stock	490			—			—
Repurchase of common stock	(1,101		)	(2,122		)	(1,275		)
Other	(2		)	(2		)	(5		)
Net cash from financing activities	(1,520		)	(2,241		)	(691		)
Net change in cash and cash equivalents	72			170			650
Cash and cash equivalents at beginning of year	1,863			1,693			1,043
Cash and cash equivalents at end of year	$	1,935		$	1,863		$	1,693