0000927628-23-000117 | 10-K | XBRL Viewer | Capital ONE Financial Corp

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Cover Page - USD ($) $ in Billions	12 Months Ended
Cover Page - USD ($) $ in Billions	Dec. 31, 2022	Jan. 31, 2023	Jun. 30, 2022
Entity Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2022
Current Fiscal Year End Date	--12-31
Auditor Firm ID	42
Document Transition Report	false
Entity File Number	001-13300
Entity Registrant Name	CAPITAL ONE FINANCIAL CORP
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	54-1719854
Entity Address, Address Line One	1680 Capital One Drive,
Entity Address, City or Town	McLean,
Entity Address, State or Province	VA
Entity Address, Postal Zip Code	22102
City Area Code	703
Local Phone Number	720-1000
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 39.6
Entity Common Stock, Shares Outstanding		381,079,743
Documents Incorporated by Reference	Portions of the Proxy Statement for the annual meeting of stockholders to be held on May 4, 2023, are incorporated by reference into Part III.
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Entity Central Index Key	0000927628
Common Stock (par value $.01 per share)
Entity Information [Line Items]
Title of 12(b) Security	Common Stock (par value $.01 per share)
Trading Symbol	COF
Security Exchange Name	NYSE
Depositary Shares, Each Representing a 1/40th Interest in a Share of Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series I
Entity Information [Line Items]
Title of 12(b) Security	Depositary Shares, Each Representing a 1/40th Interest in a Share of Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series I
Trading Symbol	COF PRI
Security Exchange Name	NYSE
Depositary Shares, Each Representing a 1/40th Interest in a Share of Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series J
Entity Information [Line Items]
Title of 12(b) Security	Depositary Shares, Each Representing a 1/40th Interest in a Share of Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series J
Trading Symbol	COF PRJ
Security Exchange Name	NYSE
Depositary Shares, Each Representing a 1/40th Interest in a Share of Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series K
Entity Information [Line Items]
Title of 12(b) Security	Depositary Shares, Each Representing a 1/40th Interest in a Share of Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series K
Trading Symbol	COF PRK
Security Exchange Name	NYSE
Depositary Shares, Each Representing a 1/40th Interest in a Share of Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series L
Entity Information [Line Items]
Title of 12(b) Security	Depositary Shares, Each Representing a 1/40th Interest in a Share of Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series L
Trading Symbol	COF PRL
Security Exchange Name	NYSE
Depositary Shares, Each Representing a 1/40th Interest in a Share of Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series N
Entity Information [Line Items]
Title of 12(b) Security	Depositary Shares, Each Representing a 1/40th Interest in a Share of Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series N
Trading Symbol	COF PRN
Security Exchange Name	NYSE
0.800% Senior Notes Due 2024
Entity Information [Line Items]
Title of 12(b) Security	0.800% Senior Notes Due 2024
Trading Symbol	COF24
Security Exchange Name	NYSE
1.650% Senior Notes Due 2029
Entity Information [Line Items]
Title of 12(b) Security	1.650% Senior Notes Due 2029
Trading Symbol	COF29
Security Exchange Name	NYSE

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2022
Audit Information [Abstract]
Auditor Name	Ernst & Young LLP
Auditor Location	Tysons, Virginia
Auditor Firm ID	42

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Millions	12 Months Ended
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Interest income:
Loans, including loans held for sale	$ 28,910	$ 24,263	$ 24,074
Investment securities	1,884	1,446	1,877
Other	443	60	82
Total interest income	31,237	25,769	26,033
Interest expense:
Deposits	2,535	956	2,165
Securitized debt obligations	384	119	232
Senior and subordinated notes	1,074	488	679
Other borrowings	130	35	44
Total interest expense	4,123	1,598	3,120
Net interest income	27,114	24,171	22,913
Provision (benefit) for credit losses	5,847	(1,944)	10,264
Net interest income after provision for credit losses	21,267	26,115	12,649
Non-interest income:
Interchange fees, net	4,606	3,860	3,017
Service charges and other customer-related fees	1,625	1,578	1,243
Other	905	826	1,350
Total non-interest income	7,136	6,264	5,610
Non-interest expense:
Salaries and associate benefits	8,425	7,421	6,805
Occupancy and equipment	2,050	2,003	2,118
Marketing	4,017	2,871	1,610
Professional services	1,807	1,440	1,312
Communications and data processing	1,379	1,262	1,215
Amortization and impairment of Intangibles	70	29	60
Other	1,415	1,544	1,936
Total non-interest expense	19,163	16,570	15,056
Income (loss) from continuing operations before income taxes	9,240	15,809	3,203
Income tax provision (benefit)	1,880	3,415	486
Income from continuing operations, net of tax	7,360	12,394	2,717
Income (loss) from discontinued operations, net of tax	0	(4)	(3)
Net income	7,360	12,390	2,714
Dividends and undistributed earnings allocated to participating securities	(88)	(105)	(20)
Preferred stock dividends	(228)	(274)	(280)
Issuance cost for redeemed preferred stock	0	(46)	(39)
Net income available to common stockholders	$ 7,044	$ 11,965	$ 2,375
Basic earnings per common share:
Net income from continuing operations	$ 17.98	$ 27.05	$ 5.20
Income (loss) from discontinued operations	0.00	(0.01)	(0.01)
Net income per basic common share	17.98	27.04	5.19
Diluted earnings per common share:
Net income from continuing operations	17.91	26.95	5.19
Income (loss) from discontinued operations	0.00	(0.01)	(0.01)
Net income per diluted common share	$ 17.91	$ 26.94	$ 5.18

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement of Comprehensive Income [Abstract]
Net Income	$ 7,360	$ 12,390	$ 2,714
Other comprehensive income (loss), net of tax:
Net unrealized gains (losses) on securities available for sale	(7,973)	(1,889)	1,259
Net unrealized gains (losses) on hedging relationships	(2,300)	(1,244)	1,008
Foreign currency translation adjustments	1	10	76
Other	(18)	3	3
Other comprehensive income (loss), net of tax	(10,290)	(3,120)	2,346
Comprehensive income (loss)	$ (2,930)	$ 9,270	$ 5,060

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Cash and cash equivalents:
Cash and due from banks	$ 5,193	$ 4,164
Interest-bearing deposits and other short-term investments	25,663	17,582
Total cash and cash equivalents	30,856	21,746
Restricted cash for securitization investors	400	308
Securities available for sale (amortized cost of $87.0 billion and $94.9 billion and allowance for credit losses of $3 million and $1 million as of December 31, 2022 and 2021, respectively)	76,919	95,261
Loans held for investment:
Total loans held for investment	312,331	277,340
Allowance for credit losses	(13,240)	(11,430)
Net loans held for investment	299,091	265,910
Loans held for sale ($191 million and $1.0 billion carried at fair value as of December 31, 2022 and 2021, respectively)	203	5,888
Premises and equipment, net	4,351	4,210
Interest receivable	2,104	1,460
Goodwill	14,777	14,782
Other assets	26,548	22,816
Total assets	455,249	432,381
Liabilities:
Interest payable	527	281
Deposits [Abstract]
Non-interest-bearing deposits	32,203	38,043
Interest-bearing deposits	300,789	272,937
Total deposits	332,992	310,980
Securitized debt obligations	16,973	14,994
Other debt:
Federal funds purchased and securities loaned or sold under agreements to repurchase	883	820
Senior and subordinated notes	30,826	27,219
Other borrowings	33	53
Total other debt	31,742	28,092
Other liabilities	20,433	17,005
Total liabilities	402,667	371,352
Commitments, contingencies and guarantees (see Note 18)
Stockholders’ equity:
Preferred stock (par value $0.01 per share; 50,000,000 shares authorized; 4,975,000 shares issued and outstanding as of both December 31, 2022 and 2021)	0	0
Common stock (par value $0.01 per share; 1,000,000,000 shares authorized; 690,334,422 and 685,057,944 shares issued as of December 31, 2022 and 2021, respectively; 381,318,702 and 413,858,537 shares outstanding as of December 31, 2022 and 2021, respectively)	7	7
Additional paid-in capital, net	34,725	34,112
Retained earnings	57,184	51,006
Accumulated other comprehensive income (loss)	(9,916)	374
Treasury stock, at cost (par value $0.01 per share; 309,015,720 and 271,199,407 shares as of December 31, 2022 and 2021, respectively)	(29,418)	(24,470)
Total stockholders’ equity	52,582	61,029
Total liabilities and stockholders’ equity	455,249	432,381
Unsecuritized loans held for investment
Cash and cash equivalents:
Total cash and cash equivalents	22,006	16,910
Loans held for investment:
Total loans held for investment	283,282	252,468
Other assets	2,281	1,330
Total assets	81,915	84,202
Other debt:
Senior and subordinated notes	28,970	23,017
Other liabilities	363	156
Total liabilities	29,333	23,173
Stockholders’ equity:
Total stockholders’ equity	52,582	61,029
Total liabilities and stockholders’ equity	81,915	84,202
Loans held in consolidated trusts
Loans held for investment:
Total loans held for investment	29,049	24,872
Total assets	31,045	26,458
Other debt:
Total liabilities	$ 17,908	$ 15,256

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Securities available for sale, amortized cost	$ 87,047	$ 94,871
Allowance for Credit Losses	(3)	(1)
Loans Held-for-sale, Fair Value Disclosure	$ 191	$ 1,000
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	50,000,000	50,000,000
Preferred stock, shares issued	4,975,000	4,975,000
Preferred stock, shares outstanding	4,975,000	4,975,000
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	1,000,000,000	1,000,000,000
Common stock, shares issued	690,334,422	685,057,944
Common stock, shares outstanding	381,318,702	413,858,537
Treasury stock, par value (in dollars per share)	$ 0.01	$ 0.01
Treasury stock, shares	309,015,720	271,199,407

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($)
$ in Millions

Total

Cumulative Effect, Period of Adoption, Adjustment [Member]

Preferred Stock

Common Stock

Additional Paid-In Capital

Retained Earnings

Cumulative Effect, Period of Adoption, Adjustment [Member]

Accumulated Other Comprehensive Income (Loss)

Cumulative Effect, Period of Adoption, Adjustment [Member]

Treasury Stock

Beginning balance (shares) at Dec. 31, 2019

4,975,000

672,969,391

Beginning balance at Dec. 31, 2019

$ 58,011

$ (2,192)

$ 0

$ 7

$ 32,980

$ 40,340

$ (2,184)

$ 1,156

$ (8)

$ (16,472)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Comprehensive income (loss)

5,060

2,714

2,346

Dividends, common stock (shares)

^[1]

32,466

Dividends, common stock

^[1]

(460)

$ 0

(463)

Dividends, preferred stock

(280)

Purchases of treasury stock

(393)

Issuances of common stock and restricted stock, net of forfeitures (shares)

5,539,010

Issuances of common stock and restricted stock, net of forfeitures

241

$ 0

241

Exercises of stock options (shares)

1,391,970

Exercises of stock options

$ 0

Issuances of preferred stock (shares)

1,375,000

Issuances of preferred stock

1,330

$ 0

1,330

Redemptions of preferred stock

(1,375)

$ 0

(1,336)

(39)

Redemptions of preferred stock (shares)

(1,375,000)

Compensation expense for restricted stock units and stock options

200

Ending balance (shares) at Dec. 31, 2020

4,975,000

679,932,837

Ending balance at Dec. 31, 2020

60,204

$ 0

$ 7

33,480

40,088

3,494

(16,865)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Comprehensive income (loss)

9,270

12,390

(3,120)

Dividends, common stock (shares)

^[1]

28,410

Dividends, common stock

^[1]

(1,148)

$ 0

(1,152)

Dividends, preferred stock

(274)

Purchases of treasury stock

(7,605)

Issuances of common stock and restricted stock, net of forfeitures (shares)

4,178,919

Issuances of common stock and restricted stock, net of forfeitures

253

$ 0

253

Exercises of stock options (shares)

917,778

Exercises of stock options

$ 0

Issuances of preferred stock (shares)

2,100,000

Issuances of preferred stock

2,052

$ 0

2,052

Redemptions of preferred stock

(2,100)

$ 0

(2,054)

(46)

Redemptions of preferred stock (shares)

(2,100,000)

Compensation expense for restricted stock units and stock options

322

Ending balance (shares) at Dec. 31, 2021

4,975,000

685,057,944

Ending balance at Dec. 31, 2021

61,029

$ 0

$ 7

34,112

51,006

374

(24,470)

Increase (Decrease) in Stockholders' Equity [Roll Forward]

Comprehensive income (loss)

(2,930)

7,360

(10,290)

Dividends, common stock (shares)

^[1]

33,511

Dividends, common stock

^[1]

(950)

$ 0

(954)

Dividends, preferred stock

(228)

Purchases of treasury stock

(4,948)

Issuances of common stock and restricted stock, net of forfeitures (shares)

4,909,173

Issuances of common stock and restricted stock, net of forfeitures

276

$ 0

276

Exercises of stock options (shares)

333,794

Exercises of stock options

$ 0

Compensation expense for restricted stock units and stock options

314

Ending balance (shares) at Dec. 31, 2022

4,975,000

690,334,422

Ending balance at Dec. 31, 2022

$ 52,582

$ 0

$ 7

$ 34,725

$ 57,184

$ (9,916)

$ (29,418)

[1]	We declared dividends per share on our common stock of $0.60 in each quarter of 2022 and the fourth quarter of 2021, $1.20 in the third quarter of 2021, $0.40 in the first two quarters of both 2021 and 2020, and $0.10 in the last two quarters of 2020.

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020
Statement of Stockholders' Equity [Abstract]
Dividend per share on common stock declared (in dollars per share)	$ 0.60	$ 0.60	$ 0.60	$ 0.60	$ 0.60	$ 1.20	$ 0.40	$ 0.40	$ 0.10	$ 0.10	$ 0.40	$ 0.40

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Operating activities:
Income (loss) from continuing operations, net of tax	$ 7,360	$ 12,394	$ 2,717
Income (loss) from discontinued operations, net of tax	0	(4)	(3)
Net income	7,360	12,390	2,714
Adjustments to reconcile net income (loss) to net cash from operating activities:
Provision (benefit) for credit losses	5,847	(1,944)	10,264
Depreciation and amortization, net	3,210	3,481	3,501
Deferred tax provision (benefit)	(772)	605	(1,627)
Net securities losses (gains)	9	(2)	(25)
Gain on sales of loans	(196)	1	(6)
Stock-based compensation expense	314	331	203
Other	40	46	(520)
Loans held for sale:
Originations and purchases	(8,822)	(9,141)	(10,055)
Proceeds from sales and paydowns	9,679	9,123	9,856
Changes in operating assets and liabilities:
Changes in interest receivable	(641)	17	287
Changes in other assets	(2,973)	(4,114)	979
Changes in interest payable	246	(71)	(87)
Changes in other liabilities	511	1,594	1,212
Net change from discontinued operations	(3)	(6)	3
Net cash from operating activities	13,809	12,310	16,699
Securities available for sale:
Purchases	(14,850)	(27,884)	(43,026)
Proceeds from paydowns and maturities	19,074	26,969	22,324
Proceeds from sales	2,570	2,776	812
Loans:
Net changes in loans originated as held for investment	(35,885)	(33,833)	4,136
Principal recoveries of loans previously charged off	2,091	2,506	2,452
Net purchases of premises and equipment	(934)	(698)	(710)
Net cash used in acquisition activities	(1,176)	(669)	(7)
Net cash used in other investing activities	(628)	(668)	(822)
Net cash used in investing activities	(29,738)	(31,501)	(14,841)
Financing activities:
Changes in deposits	22,539	5,687	42,519
Issuance of securitized debt obligations	9,728	6,232	1,248
Maturities and paydowns of securitized debt obligations	(7,060)	(3,442)	(6,885)
Issuance of senior and subordinated notes and long-term FHLB advances	21,272	4,486	3,987
Maturities and paydowns of senior and subordinated notes and long-term FHLB advances	(15,561)	(3,851)	(8,156)
Changes in other borrowings	44	129	(6,674)
Common stock:
Net proceeds from issuances	276	253	241
Dividends paid	(950)	(1,148)	(460)
Preferred stock:
Net proceeds from issuances	0	2,052	1,330
Dividends paid	(228)	(274)	(280)
Redemptions	0	(2,100)	(1,375)
Purchases of treasury stock	(4,948)	(7,605)	(393)
Proceeds from share-based payment activities	19	55	62
Net cash from (used in) financing activities	25,131	474	25,164
Changes in cash, cash equivalents and restricted cash for securitization investors	9,202	(18,717)	27,022
Cash, cash equivalents and restricted cash for securitization investors, beginning of the period	22,054	40,771	13,749
Cash, cash equivalents and restricted cash for securitization investors, end of the period	31,256	22,054	40,771
Non-cash items:
Net transfers from loans held for investment to loans held for sale	697	4,843	2,192
Interest paid	3,609	2,158	3,580
Income tax paid	$ 1,852	$ 2,527	$ 988

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

Summary of Significant Accounting Policies


NOTE 1—SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The Company

Capital One Financial Corporation, a Delaware Corporation established in 1994 and headquartered in McLean, Virginia, is a diversified financial services holding company with banking and non-banking subsidiaries. Capital One Financial Corporation and its subsidiaries (the “Company”) offer a broad array of financial products and services to consumers, small businesses and commercial clients through digital channels, branches, cafés and other distribution channels.

As of December 31, 2022, Capital One Financial Corporation’s principal operating subsidiary was Capital One, National Association (“CONA”). On October 1, 2022, the Company completed the merger of Capital One Bank (USA), National Association (“COBNA”), with and into CONA, with CONA as the surviving entity (the “Bank Merger”).

The Company is hereafter collectively referred to as “we,” “us” or “our.” References to the “Bank” shall mean and refer to (i) CONA from and after the Bank Merger and (ii) CONA and COBNA collectively prior to the Bank Merger.

We also offer products outside of the United States of America (“U.S.”) principally through Capital One (Europe) plc (“COEP”), an indirect subsidiary of CONA organized and located in the United Kingdom (“U.K.”), and through a branch of CONA in Canada. Both COEP and our Canadian branch of CONA have the authority to provide credit card loans.

Our principal operations are organized for management reporting purposes into three major business segments, which are defined primarily based on the products and services provided or the types of customer served: Credit Card, Consumer Banking and Commercial Banking. We provide details on our business segments, the integration of recent acquisitions, if any, into our business segments and the allocation methodologies and accounting policies used to derive our business segment results in “Note 17—Business Segments and Revenue from Contracts with Customers.”

Basis of Presentation and Use of Estimates

The accompanying consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the U.S. (“U.S. GAAP”). The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and in the related disclosures. These estimates are based on information available as of the date of the consolidated financial statements. While management makes its best judgments, actual amounts or results could differ from these estimates.

Principles of Consolidation

The consolidated financial statements include the accounts of Capital One Financial Corporation and all other entities in which we have a controlling financial interest. We determine whether we have a controlling financial interest in an entity by first evaluating whether the entity is a voting interest entity (“VOE”) or a variable interest entity (“VIE”). All significant intercompany account balances and transactions have been eliminated.

Voting Interest Entities

VOEs are entities that have sufficient equity and provide the equity investors voting rights that give them the power to make significant decisions relating to the entity’s operations. Since a controlling financial interest in an entity is typically obtained through ownership of a majority voting interest, we consolidate our majority-owned subsidiaries and other voting interest entities in which we hold, directly or indirectly, more than 50% of the voting rights or where we exercise control through other contractual rights.

Investments in which we do not hold a controlling financial interest but have significant influence over the entity’s financial and operating decisions are accounted for under the equity method. If we do not have significant influence, we measure equity investments at fair value with changes in fair value recorded through net income, except those that do not have a readily determinable fair value (for which a measurement alternative is applied). We report equity investments in other assets on our consolidated balance sheets and include our share of income or loss and dividends from those investments in other non-interest income in our consolidated statements of income.

Variable Interest Entities

VIEs are entities that, by design, either (i) lack sufficient equity to permit the entity to finance its activities without additional subordinated financial support from other parties; or (ii) have equity investors that do not have the ability to make significant decisions relating to the entity’s operations through voting rights, or do not have the obligation to absorb the expected losses, or do not have the right to receive the residual returns of the entity. The entity that is deemed the primary beneficiary of a VIE is required to consolidate the VIE. An entity is deemed to be the primary beneficiary of a VIE if that entity has both (i) the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance; and (ii) the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE.

In determining whether we are the primary beneficiary of a VIE, we consider both qualitative and quantitative factors regarding the nature, size and form of our involvement with the VIE, such as our role in establishing the VIE and our ongoing rights and responsibilities; our economic interests, including debt and equity investments, servicing fees and other arrangements deemed to be variable interests in the VIE; the design of the VIE, including the capitalization structure, subordination of interests, payment priority, relative share of interests held across various classes within the VIE’s capital structure and the reasons why the interests are held by us.

We perform on-going reassessments to evaluate whether changes in an entity’s capital structure or changes in the nature of our involvement with the entity result in a change to the VIE designation or a change to our consolidation conclusion. See “Note 5—Variable Interest Entities and Securitizations” for further details.

Balance Sheet Offsetting of Financial Assets and Liabilities

Derivative contracts that we execute bilaterally in the over-the-counter (“OTC”) market or are centrally cleared are generally governed by enforceable master netting agreements where we generally have the right to offset exposure with the same counterparty. Either counterparty can generally request to net settle all contracts through a single payment upon default on, or termination of, any one contract. We elect to offset the derivative assets and liabilities under master netting agreements for balance sheet presentation where a right of setoff exists. For derivative contracts entered into under master netting agreements for which we have not been able to confirm the enforceability of the setoff rights, or those not subject to master netting agreements, we do not offset our derivative positions for balance sheet presentation. See “Note 9—Derivative Instruments and Hedging Activities” for more details.

We also elect to present securities purchased or sold under resale or repurchase agreements on a net basis when a legally enforceable master netting agreement exists and other applicable criteria are met. Security collateral received from or pledged to the counterparties are not eligible for netting and are presented gross in our consolidated balance sheet. See “Note 8—Deposits and Borrowings” and “Note 9—Derivative Instruments and Hedging Activities” for more details.

Cash and Cash Equivalents

Cash and cash equivalents include cash and due from banks, interest-bearing deposits and other short-term investments, all of which, if applicable, have stated maturities of three months or less when acquired.

Securities Resale and Repurchase Agreements

Securities purchased under resale agreements and securities loaned or sold under agreements to repurchase, principally U.S. government and agency obligations, are not accounted for as sales but as collateralized financing transactions and recorded at the amounts at which the securities were acquired or sold, plus accrued interest. We continually monitor the market value of these securities and deliver additional collateral to or obtain additional collateral from counterparties, as appropriate. See “Note 8—Deposits and Borrowings”

Investment Securities

Our investment portfolio consists primarily of the following: U.S. Treasury securities; U.S. government-sponsored enterprise or agency (“Agency”) and non-agency residential mortgage-backed securities (“RMBS”); Agency commercial mortgage-backed securities (“CMBS”); and other securities. The accounting and measurement framework for our investment securities differs depending on the security classification.

We classify securities as available for sale or held to maturity based on our investment strategy and management’s assessment of our intent and ability to hold the securities until maturity. We did not have any securities that were classified as held to maturity as of December 31, 2022 and 2021.

We report securities available for sale on our consolidated balance sheets at fair value. The amortized cost of investment securities reflects the amount for which the security was acquired, adjusted for accrued interest, amortization of premiums, discounts, and net deferred fees and costs, any applicable fair value hedge accounting adjustments, collection of cash, and charge-offs. Unrealized gains or losses are recorded, net of tax, as a component of accumulated other comprehensive income (“AOCI”). Unamortized premiums, discounts and other basis adjustments for available for sale securities are generally recognized in interest income over the contractual lives of the securities using the interest method. However, premiums on certain callable investment securities are amortized to the earliest call date. We record purchases and sales of investment securities available for sale on a trade date basis. Realized gains or losses from the sale of debt securities are computed using the first-in first-out method of identification, and are included in non-interest income in our consolidated statements of income. We elect to present accrued interest for securities available for sale within interest receivable on our consolidated balance sheets.

An individual debt security is impaired when the fair value of the security is less than its amortized cost. If we intend to sell an available for sale security in an unrealized loss position or it is more likely than not that we will be required to sell the security prior to recovery of its amortized cost basis, any allowance for credit losses is reversed through our provision for credit losses and the difference between the amortized cost basis of the security and its fair value is recognized in our consolidated statements of income.

For impaired debt securities that we have both the intent and ability to hold, the securities are evaluated to determine if a credit loss exists. The allowance for credit losses on our investment securities is recognized through our provision for credit losses and limited by the unrealized losses of a security measured as the difference between the security’s amortized cost and fair value. See further discussion below under the “Allowance for Credit Losses - Available for Sale Investment Securities” section of this Note.

Our investment portfolio also includes certain debt securities that, at the time of purchase, had experienced a more-than-insignificant deterioration in credit quality since origination. Such debt securities are accounted for in accordance with accounting guidance for purchased financial assets with credit deterioration and are herein referred to as purchased credit-deteriorated (“PCD”) securities.

PCD securities require the recognition of an allowance for credit losses at the time of acquisition. The allowance for credit losses is not recognized in provision for credit losses. Instead, the purchase price and the initial allowance collectively represent the amortized cost basis of a PCD security. Any non-credit discount or premium at the date of acquisition is amortized into interest income over the remaining life of the security. Subsequent to the date of purchase, we remeasure the allowance for credit losses on the amortized cost basis using the same policies as for other debt securities available for sale and changes are recognized through our provision for credit losses. See further discussion below under the “Allowance for Credit Losses - Available for Sale Investment Securities” section of this Note.

We charge off any portion of an investment security that we determine is uncollectible. The amortized cost basis, excluding accrued interest, is charged off through the allowance for credit losses. Accrued interest is charged off as a reduction to interest income. Recoveries of previously charged off principal amounts are recognized in our provision for credit losses when received.

Allowance for Credit Losses - Available for Sale Investment Securities

We maintain an allowance for credit losses that represents management’s current estimate of expected credit losses over the contractual terms of our investment securities classified as available for sale. When an investment security available for sale is impaired due to credit factors, we recognize a provision for credit losses in our consolidated statements of income and an allowance for credit losses on our consolidated balance sheets. Credit losses recognized in the allowance for credit losses are limited to the amount by which the investment security’s amortized cost basis exceeds its fair value. Investment securities in unrealized gain positions do not have an allowance for credit losses as the investment security could be sold at its fair value to prevent realization of any credit losses. We exclude accrued interest from the fair value and amortized cost basis of an investment security for purposes of measuring impairment. Charge-offs of uncollectible amounts of investment securities are deducted from the allowance for credit losses.

For certain of our securities available for sale, we have determined that there is no risk of impairment due to credit factors. These investment securities include high quality debt instruments that are issued and guaranteed by the United States government and its agencies, certain government-sponsored enterprises, and certain foreign sovereign governments or supranational organizations. Management performs periodic assessments to reevaluate this conclusion by considering any changes in historical losses, current conditions, and reasonable and supportable forecasts.

We evaluate impairment on a quarterly basis at the individual security level and determine whether any portion of the decline in fair value is due to a credit loss. We make this determination through the use of quantitative and qualitative analyses. Our qualitative analysis includes factors such as the extent to which fair value is less than amortized cost, any changes in the security’s credit rating, past defaults or delayed payments, and adverse conditions impacting the security or issuer. A credit loss exists to the extent that management does not expect to recover the amortized cost basis.

For investment securities which require further assessment, we perform a quantitative analysis using a discounted cash flow methodology and compare the present value of expected future cash flows from the security available for sale to the security’s amortized cost basis. Projected future cash flows reflect management’s best estimate and are based on our understanding of past events, current conditions, reasonable and supportable forecasts, and are discounted by the security’s effective interest rate adjusted for prepayments. The allowance for credit losses for investment securities reflects the difference by which the amortized cost basis exceeds the present value of future cash flows and is limited to the amount by which the security’s amortized cost exceeds its fair value. See “Note 2—Investment Securities” for additional information.

Loans

Our loan portfolio consists of loans held for investment, including loans held in our consolidated securitization trusts, and loans held for sale and is divided into three portfolio segments: credit card, consumer banking and commercial banking loans. Credit card loans consist of domestic and international credit card loans. Consumer banking loans consist of auto and retail banking loans. Commercial banking loans consist of commercial and multifamily real estate loans as well as commercial and industrial loans.

Loan Classification

We classify loans as held for investment or held for sale based on our investment strategy and management’s intent and ability with regard to the loans, which may change over time. The accounting and measurement framework for loans differs depending on the loan classification, whether we elect the fair value option, whether the loans are originated or purchased and whether purchased loans are considered to have experienced a more-than-insignificant deterioration in credit quality since origination. The presentation within the consolidated statements of cash flows is based on management’s intent at acquisition or origination. Cash flows related to loans that are acquired or originated with the intent to hold for investment are included in cash flows from investing activities on our consolidated statements of cash flows. Cash flows related to loans that are acquired or originated with the intent to sell are included in cash flows from operating activities on our consolidated statements of cash flows.

Loans Held for Investment

Loans that we have the ability and intent to hold for the foreseeable future and loans associated with consolidated securitization transactions are classified as held for investment. Loans classified as held for investment, except for credit card loans, are reported at their amortized cost basis, excluding accrued interest. For these loans, we elect to present accrued interest within

interest receivable on our consolidated balance sheets. For credit card loans classified as held for investment, earned finance charges and fees are included in either loans held for investment (if they have been billed to the customer) or interest receivable (if they have not yet been billed to the customer).

Interest income is recognized on performing loans on an accrual basis. We defer loan origination fees and direct loan origination costs on originated loans, premiums and discounts on purchased loans and loan commitment fees. We recognize these amounts in interest income as yield adjustments over the life of the loan and/or commitment period using the interest method. For credit card loans, loan origination fees and direct loan origination costs are amortized on a straight-line basis over a 12-month period. The amortized cost of loans held for investment is subject to our allowance for credit losses methodology described below under the “Allowance for Credit Losses - Loans Held for Investment” section of this Note.

Loans Held for Sale

Loans that we intend to sell or for which we do not have the ability and intent to hold for the foreseeable future are classified as held for sale. Multifamily commercial real estate loans originated with the intent to sell to government-sponsored enterprises are accounted for under the fair value option. We elect the fair value option on these loans as part of our management of interest rate risk along with the corresponding forward sale commitments. Loan origination fees and direct loan origination costs are recognized as incurred and are reported in other non-interest income in the consolidated statements of income. Interest income is calculated based on the loan's stated rate of interest and is reported in interest income in the consolidated statements of income. Fair value adjustments are recorded in other non-interest income in the consolidated statements of income.

All other loans classified as held for sale are recorded at the lower of cost or fair value. Loan origination fees, direct loan origination costs and any discounts and premiums are deferred until the loan is sold and are then recognized as part of the total gain or loss on sale. The fair value of loans held for sale is determined on an aggregate portfolio basis for each loan type. Fair value adjustments are recorded in other non-interest income in the consolidated statements of income.

If a loan is transferred from held for investment to held for sale, then on the transfer date, any decline in fair value related to credit is recorded as a charge-off and any remaining allowance for credit losses is reversed through our provision for credit losses. The loan is then reclassified to held for sale at its amortized cost at the date of the transfer. A valuation allowance is established, if needed, such that the loan held for sale is recorded at the lower of cost or fair value. Subsequent to transfer, we report write-downs or recoveries in fair value up to the carrying value at the date of transfer and realized gains or losses on loans held for sale in our consolidated statements of income as a component of other non-interest income. We calculate the gain or loss on loan sales as the difference between the proceeds received and the carrying value of the loans sold, net of the fair value of any interests retained.

Loans Acquired

All purchased loans, including loans transferred in a business combination, are initially recorded at fair value, which includes consideration of expected future losses, as of the date of the acquisition. To determine the fair value of loans at acquisition, we estimate discounted contractual cash flows due using an observable market rate of interest, when available, adjusted for factors that a market participant would consider in determining fair value. In determining fair value, contractual cash flows are adjusted to include prepayment estimates based upon historical payment trends, forecasted default rates and loss severities and other relevant factors. The difference between the fair value and the contractual cash flows is recorded as a loan premium or discount, which may relate to either credit or non-credit factors, at acquisition.

We account for purchased loans under the accounting guidance for purchased financial assets with credit deterioration when, at the time of purchase, the loans have experienced a more-than-insignificant deterioration in credit quality since origination. We refer to these loans which are accounted for under accounting guidance for purchased financial assets with more-than-insignificant deterioration in credit quality since origination as “PCD loans.”

We recognize an allowance for credit losses on purchased loans that have not experienced a more-than-insignificant deterioration in credit quality since origination at the time of purchase through earnings in a manner that is consistent with originated loans. The policies relating to the allowance for credit losses on loans is described below in the “Allowance for Credit Losses - Loans Held for Investment” section of this Note.

Loan Modifications and Restructurings

As part of our loss mitigation efforts, we may provide modifications to a borrower experiencing financial difficulty to improve long-term collectability of the loan and to avoid the need for foreclosure or repossession of collateral, if any. Our loan modifications typically include short-term payment deferrals, an extension of the loan term, a reduction in the interest rate, a reduction in the loan balance, or a combination of these modifications. A loan modification in which a concession is granted to a borrower experiencing financial difficulty is accounted for and reported as a troubled debt restructuring (“TDR”). See “Note 3—Loans” for additional information on our loan modifications and restructurings, including those in response to the COVID-19 pandemic.

Delinquent and Nonperforming Loans

The entire balance of a loan is considered contractually delinquent if the minimum required payment is not received by the first statement cycle date equal to or following the due date specified on the customer’s billing statement. Delinquency is reported on loans that are 30 or more days past due. Interest and fees continue to accrue on past due loans until the date the loan is placed on nonaccrual status, if applicable. For loan modifications, delinquency and nonaccrual status are reported in accordance with the revised terms of the loans. We generally place loans on nonaccrual status when we believe the collectability of interest and principal is not reasonably assured.

Nonperforming loans generally include loans that have been placed on nonaccrual status. Loans classified as held for sale are excluded from nonperforming classification consideration.

Our policies for classifying loans as nonperforming, by loan category, are as follows:

•Credit card loans: As permitted by regulatory guidance issued by the Federal Financial Institutions Examination Council (“FFIEC”), our policy is generally to exempt credit card loans from being classified as nonperforming, as these loans are generally charged off in the period the account becomes 180 days past due. Consistent with industry conventions, we generally continue to accrue interest and fees on delinquent credit card loans until the loans are charged off.

•Consumer banking loans: We classify consumer banking loans as nonperforming when we determine that the collectability of all interest and principal on the loan is not reasonably assured, generally when the loan becomes 90 days past due.

•Commercial banking loans: We classify commercial banking loans as nonperforming as of the date we determine that the collectability of all interest and principal on the loan is not reasonably assured.

•Modified loans and troubled debt restructurings: Modified loans, including TDRs, that are current at the time of the restructuring remain in accrual status if there is demonstrated performance prior to the restructuring and continued performance under the modified terms is expected. Otherwise, the modified loan is classified as nonperforming.

Interest and fees accrued but not collected at the date a loan is placed on nonaccrual status are reversed against earnings. In addition, the amortization of deferred loan fees, costs, premiums and discounts is suspended. Interest and fee income are subsequently recognized only upon the receipt of cash payments. However, if there is doubt regarding the ultimate collectability of loan principal, cash received is generally applied against the principal balance of the loan. Nonaccrual loans are generally returned to accrual status when all principal and interest is current and repayment of the remaining contractual principal and interest is reasonably assured, or when the loan is both well-secured and in the process of collection and collectability is no longer doubtful.

Charge-Offs

We charge off loans when we determine that the loan is uncollectible. The amortized cost basis, excluding accrued interest, is charged off as a reduction to the allowance for credit losses based on the time frames presented below. Accrued interest on loans other than credit card loans determined to be uncollectible is reversed as a reduction of interest income when the loan is classified as nonperforming. For credit card loans, accrued interest is charged off simultaneously with the charge off of other components of amortized cost and as a reduction of interest income. When received, recoveries of previously charged off amounts are recorded as an increase to the allowance for credit losses (see the “Allowance for Credit Losses - Loans Held for Investment” section of this Note for information on how we account for expected recoveries). Costs to recover charged off loans are recorded as collection expense and included in our consolidated statements of income as a component of other non-interest expense as incurred. Our charge-off time frames by loan type are presented below.

•Credit card loans: We generally charge off credit card loans in the period the account becomes 180 days past due. We charge off delinquent credit card loans for which revolving privileges have been revoked as part of loan workout when the account becomes 120 days past due. Credit card loans in bankruptcy are generally charged off by the end of the month following 30 days after the receipt of a complete bankruptcy notification from the bankruptcy court. Credit card loans of deceased account holders are generally charged off 5 days after receipt of notification.

•Consumer banking loans: We generally charge off consumer banking loans at the earlier of the date when the account is a specified number of days past due or upon repossession of the underlying collateral. Our charge-off period for auto loans is 120 days past due. Small business banking loans generally charge off at 120 days past due or based on the date the amortized cost basis is deemed uncollectible. Auto loans that have not been previously charged off where the borrower has filed for bankruptcy and the loan has not been reaffirmed charge off in the period that the loan is 60 days from the bankruptcy notification date, regardless of delinquency status. Auto loans that have not been previously charged off and have been discharged under Chapter 7 bankruptcy are charged off at the end of the month in which the bankruptcy discharge occurs. Remaining consumer loans generally are charged off within 40 days of receipt of notification from the bankruptcy court. Consumer loans of deceased account holders are charged off by the end of the month following 60 days of receipt of notification.

•Commercial banking loans: We charge off commercial loans in the period we determine that the amortized cost basis is uncollectible.

Allowance for Credit Losses - Loans Held for Investment

We maintain an allowance for credit losses (“allowance”) that represents management’s current estimate of expected credit losses over the contractual terms of our loans held for investment. We measure the allowance on a quarterly basis through consideration of past events, including historical experience, current conditions and reasonable and supportable forecasts.

We measure current expected credit losses over the contractual terms of our loans. The contractual terms are adjusted for expected prepayments but are not extended for renewals or extensions, except when an extension or renewal arises from a borrower option that is not unconditionally cancellable or through a TDR that is reasonably expected to occur.

We aggregate loans sharing similar risk characteristics into pools for purposes of measuring expected credit losses. Pools are reassessed periodically to confirm that all loans within each pool continue to share similar risk characteristics. Expected credit losses for loans that do not share similar risk characteristics with other financial assets are measured individually.

Expected recoveries of amounts previously charged off or expected to be charged off are recognized within the allowance, with a corresponding reduction to our provision for credit losses. At times expected recoveries may result in a negative allowance. We limit the allowance recovery expectations to amounts previously charged off and expected to be charged off. Charge-offs of uncollectible amounts result in a reduction to the allowance and recoveries of previously charged off amounts result in an increase to the allowance.

When developing an estimate of expected credit losses, we use both quantitative and qualitative methods in considering all available information relevant to assessing collectability. This may include internal information, external information, or a combination of both relating to past events, current conditions, and reasonable and supportable forecasts. Significant judgment is applied to the development and duration of reasonable and supportable forecasts used in our estimation of lifetime losses. We estimate expected credit losses over the duration of those forecasts and then revert, on a rational and systematic basis, to historical losses at each relevant loss component of the estimate. Expected losses for contractual terms extending beyond the reasonable and supportable forecast and reversion periods are based on those historical losses.

Management will consider and may qualitatively adjust for conditions, changes and trends in loan portfolios that may not be captured in modeled results. These adjustments are referred to as qualitative factors and represent management’s judgment of the imprecision and risks inherent in the processes and assumptions used in establishing the allowance for credit losses. Management’s judgment may involve an assessment of current and forward-looking conditions including but not limited to changes in lending policies and procedures, nature and volume of the portfolio, external factors, and uncertainty as it relates to economic, model or forecast risks, where not already captured in the modeled results.

Expected credit losses for collateral-dependent loans are based on the fair value of the underlying collateral. When we intend to liquidate the collateral, the fair value of the collateral is adjusted for expected costs to sell. A loan is deemed to be a collateral-dependent loan when (i) we determine foreclosure or repossession of the underlying collateral is probable, or (ii) foreclosure or repossession is not probable, but the borrower is experiencing financial difficulty and we expect repayment to be provided substantially through the operation or sale of the collateral. The allowance for a collateral-dependent loan reflects the difference between the loan’s amortized cost basis and the fair value (less selling costs, where applicable) of the loan’s underlying collateral.

Our credit card and consumer banking loan portfolios consist of smaller-balance, homogeneous loans. The consumer banking loan portfolio is divided into two primary portfolio segments: auto loans and retail banking loans. We assess our credit card and consumer banking loan portfolios based on common risk characteristics, such as origination year, contract type, interest rate, borrower credit score and geography. The commercial banking loan portfolio is primarily composed of larger-balance, non-homogeneous loans. These loans are subject to reviews that result in internal risk ratings. In assessing the risk rating of a particular commercial banking loan, among the factors we consider are the financial condition of the borrower, geography, collateral performance, historical loss experience and industry-specific information that management believes is relevant in determining and measuring expected credit losses. Subjective assessment and interpretation are involved. Emphasizing one factor over another or considering additional factors could impact the risk rating assigned to that commercial banking loan.

For consumer banking and commercial banking loans, the contractual period typically does not include renewals or extensions because the renewals and extensions are generally not at the borrower’s exclusive option to exercise. The undrawn credit exposure associated with our credit card loans is unconditionally cancellable. For this reason, expected credit losses are measured based only on the drawn balance at each quarterly measurement date and not on the undrawn exposure. Because credit card loans do not have a defined contractual life, management estimates both the volume and application of payments to determine a contractual life of the drawn balance at the measurement date over which expected credit losses are developed for credit card loans.

With the exception of credit card loans, we have made a policy election to not measure an allowance on accrued interest for loans held for investment because we reverse uncollectible accrued interest in a timely manner. See the “Delinquent and Nonperforming Loans” and “Charge-Offs - Loans” sections of this Note for information on what we consider timely. For credit card loans, we do not make this election, as we reserve for uncollectible accrued interest relating to credit card loans in the allowance.

The allowance related to credit card and consumer banking loans assessed on a pooled basis is based on a modeled calculation, which is supplemented by management judgment as described above. Because of the homogeneous nature of our consumer loan portfolios, the allowance is based on the aggregated portfolio segment evaluations. The allowance is established through a process that begins with estimates of historical losses in each pool based upon various statistical analyses, with adjustments for current conditions and reasonable and supportable forecasts of conditions, which includes expected economic conditions. Loss forecast models are utilized to estimate expected credit losses and consider several portfolio indicators including, but not limited to, expected economic conditions, historical loss experience, account seasoning, the value of collateral underlying secured loans, estimated foreclosures or defaults based on observable trends, delinquencies, bankruptcy filings, unemployment, borrower credit scores and general business trends. Management also considers an evaluation of overall portfolio credit quality based on indicators such as changes in our credit evaluation, underwriting and collection management policies, the effect of other external factors such as competition and legal and regulatory requirements, general economic conditions and business trends, and uncertainties in forecasting and modeling techniques used in estimating our allowance.

The allowance related to commercial banking loans assessed on a pooled basis is based on our historical loss experience for loans with similar risk characteristics and consideration of the current credit quality of the portfolio, which is supplemented by management judgment as described above. These are adjusted for current conditions, and reasonable and supportable forecasts of conditions likely to cause future losses which vary from historical levels. We apply internal risk ratings to commercial banking loans, which we use to assess credit quality and derive a total loss estimate based on an estimated probability of default (“default rate”) and loss given default (“loss severity”). Management may also apply judgment to adjust the loss factors derived, taking into consideration both quantitative and qualitative factors, including general economic conditions, industry-specific and geographic trends, portfolio concentrations, trends in internal credit quality indicators, and current and past underwriting standards that have occurred but are not yet reflected in the historical data underlying our loss estimates.

The allowance related to smaller-balance homogeneous credit card and consumer banking loans whose terms have been modified in a TDR is calculated on a pool basis using historical loss experience, adjusted for current conditions and reasonable and supportable forecasts of conditions likely to cause future losses which vary from historical levels for the respective class of assets. The allowance related to consumer banking loans that are assessed at a loan-level is determined based on key considerations that include the borrower’s overall financial condition, resources and payment history, prospects for support from financially responsible guarantors, and when applicable, the estimated realizable value of any collateral. The allowance related to commercial banking loans that are assessed at a loan-level is generally determined in accordance with our policy for estimating expected credit losses for collateral-dependent loans as described above.

Off-balance sheet credit exposures

In addition to the allowance, we also measure expected credit losses related to unfunded lending commitments that are not unconditionally cancellable in our Commercial Banking business. This reserve is measured using the same measurement objectives as the allowance for loans held for investment and is recorded within other liabilities on our consolidated balance sheets. These commitments are segregated by risk according to our internal risk rating scale, which we use to assess credit quality and derive an expected credit loss estimate. We assess these risk classifications, taking into consideration both quantitative and qualitative factors, including historical loss experience, adjusted for current conditions and reasonable and supportable forecasts of conditions likely to cause future losses which vary from historical levels, and utilization assumptions to estimate the reserve for unfunded lending commitments. Expected credit losses are not measured on unfunded lending commitments that are unconditionally cancellable, including all of our unfunded credit card and consumer banking lending commitments and certain of our unfunded commercial banking lending commitments.

Determining the appropriateness of the allowance and the reserve for unfunded lending commitments is complex and requires judgment by management about the effect of matters that are inherently uncertain. Subsequent evaluations of the loan portfolio, in light of the factors then prevailing, may result in significant changes in the reserve for unfunded lending commitments in future periods. See “Note 4—Allowance for Credit Losses and Reserve for Unfunded Lending Commitments” for additional information.

Securitization of Loans

Our loan securitization activities primarily involve the securitization of credit card and auto loans, which provides a source of funding for us. See “Note 5—Variable Interest Entities and Securitizations” for additional details. Loan securitization involves the transfer of a pool of loan receivables from our portfolio to a trust. The trust then sells undivided interests in the pool of loan receivables to third-party investors through the issuance of debt securities and transfers the proceeds from the debt issuance to us as consideration for the loan receivables transferred. The debt securities are collateralized by the loan receivables transferred from our portfolio. We remove loans from our consolidated balance sheets if securitizations qualify as sales to unconsolidated VIEs, recognize assets retained and liabilities assumed at fair value and record a gain or loss on the transferred loans. Alternatively, if the transfer does not qualify as a sale but instead is considered a secured borrowing, the assets will remain on our consolidated balance sheets with an offsetting liability recognized for the amount of proceeds received.

Premises, Equipment and Leases

Premises and Equipment

Premises and equipment, including leasehold improvements, are carried at cost less accumulated depreciation and amortization. Land is carried at cost. We capitalize direct costs incurred during the application development stage of internally developed software projects. Depreciation and amortization expenses are calculated using the straight-line method over the estimated useful lives of the assets. Useful lives for premises and equipment are estimated as follows:


Premises and Equipment						Useful Lives
Buildings and improvements						5-39 years
Furniture and equipment						3-10 years
Computer software						3 years
Leasehold improvements						Lesser of the useful life or the remaining lease term

Expenditures for maintenance and repairs are expensed as incurred and gains or losses upon disposition are recognized in our consolidated statements of income as realized. See “Note 7—Premises, Equipment and Leases” for additional information.

Leases

Lease classification is determined at inception for all lease transactions with an initial term greater than one year. Operating leases are included as right-of-use (“ROU”) assets within other assets, and operating lease liabilities are classified as other liabilities on our consolidated balance sheets. Finance leases are included in premises and equipment, and other borrowings on our consolidated balance sheets. Our operating lease expense is included in occupancy and equipment within non-interest expense in our consolidated statements of income. Lease expense for minimum lease payments are recognized on a straight-line basis over the lease term. See “Note 7—Premises, Equipment and Leases” for additional information.

Goodwill and Other Intangible Assets

Goodwill represents the excess of the fair value of the consideration transferred, plus the fair value of any non-controlling interests in the acquiree, over the fair value of the net assets acquired and liabilities assumed as of the acquisition date and is assigned to one or more reporting units at acquisition. A reporting unit is defined as an operating segment, or a business unit that is one level below an operating segment. We have four reporting units: Credit Card, Auto Finance, Other Consumer Banking and Commercial Banking. Goodwill is not amortized but is tested for impairment at the reporting unit level annually or more frequently if adverse circumstances indicate that it is more likely than not that the carrying amount of a reporting unit exceeds its fair value. These indicators could include a sustained, significant decline in the Company’s stock price, a decline in expected future cash flows, significant disposition activity, a significant adverse change in the economic or business environment, and the testing for recoverability of a significant asset group, among others.

Intangible assets with finite useful lives are amortized on either an accelerated or straight-line basis over their estimated useful lives and are evaluated for impairment whenever events or changes in circumstances indicate the carrying amount of the assets may not be recoverable. See “Note 6—Goodwill and Other Intangible Assets” for additional information.

Mortgage Servicing Rights

Mortgage servicing rights (“MSRs”) are initially recorded at fair value when mortgage loans are sold or securitized in the secondary market and the right to service these loans is retained for a fee. Commercial MSRs are subsequently accounted for under the amortization method. We evaluate for impairment as of each reporting date and recognize any impairment in other non-interest income. See “Note 6—Goodwill and Other Intangible Assets” for additional information.

Foreclosed Property and Repossessed Assets

Foreclosed property and repossessed assets obtained through our lending activities typically include commercial real estate or personal property, such as automobiles, and are recorded at net realizable value. For foreclosed property and repossessed assets, we generally reclassify the loan to repossessed assets upon repossession of the property in satisfaction of the loan. Net realizable value is the estimated fair value of the underlying collateral less estimated selling costs and is based on appraisals, when available. Subsequent to initial recognition, foreclosed property and repossessed assets are recorded at the lower of our initial cost basis or net realizable value, which is routinely monitored and updated. Any changes in net realizable value and gains or losses realized from disposition of the property are recorded in other non-interest expense. See “Note 16—Fair Value Measurement” for details.

Restricted Equity Investments

We have investments in Federal Home Loan Bank (“FHLB”) stock and in Federal Reserve Bank stock. These investments, which are included in other assets on our consolidated balance sheets, are not marketable, are carried at cost, and are reviewed for impairment if there is any indicator of impairment.

Litigation

We establish reserves for litigation-related matters that arise from the ordinary course of our business activities when it is probable that a loss associated with a claim or proceeding has been incurred and the amount of the loss can be reasonably estimated. Professional service costs, including fees for attorneys and experts, expected to be incurred in connection with a loss contingency are expensed as services are provided. See “Note 18—Commitments, Contingencies, Guarantees and Others” for additional information.

Customer Rewards Reserve

We offer products, primarily credit cards, which include programs that allow members to earn rewards based on account activity that can be redeemed for cash (primarily in the form of statement credits), gift cards, travel, or covering eligible charges. The amount of reward that a customer earns varies based on the terms and conditions of the rewards program and product. When rewards are earned by a customer, rewards expense is generally recorded as an offset to interchange income, with a corresponding increase to the customer rewards reserve. The customer rewards reserve is computed based on the estimated future cost of earned rewards that are expected to be redeemed and is reduced as rewards are redeemed. In estimating the customer rewards reserve, we consider historical redemption and spending behavior, as well as the terms and conditions of the current rewards programs, among other factors. Our customer rewards reserve assumes the vast majority of all rewards earned will eventually be redeemed.

Revenue Recognition

Interest Income and Fees

Interest income and fees on loans and investment securities are recognized based on the contractual provisions of the underlying arrangements.

Loan origination fees, direct loan origination costs, premiums and discounts on loans held for investment are deferred and generally amortized into interest income as yield adjustments over the contractual life and/or commitment period using the interest method. Costs deferred include, among other things, incentives paid to our network of auto dealers for loan referrals. In certain circumstances, we elect to factor prepayment estimates into the calculation of the constant effective yield necessary to apply the interest method. Prepayment estimates are based on historical prepayment data, existing and forecasted interest rates,

and economic data. For credit card loans, loan origination fees and direct loan origination costs are amortized on a straight-line basis over a 12-month period.

Unamortized premiums, discounts and other basis adjustments on investment securities are generally recognized in interest income over the contractual lives of the securities using the interest method. However, premiums for certain callable investment securities are amortized to the earliest call date.

Finance charges and fees on credit card loans are recorded in revenue when earned and presented on our consolidated balance sheets within either loan receivables (if they have been billed to the customer) or interest receivable (if they have not yet been billed to the customer). Annual membership fees are classified as service charges and other customer-related fees in our consolidated statements of income and are deferred and amortized into income over 12 months on a straight-line basis.

Interchange Income

Interchange income generally represents fees for standing ready to authorize and providing settlement on credit and debit card transactions processed through the MasterCard® (“MasterCard”) and Visa® (“Visa”) interchange networks. The levels and structure of interchange rates set by MasterCard and Visa can vary based on cardholder purchase volumes, among other factors. We recognize interchange income upon settlement. See “Note 17—Business Segments and Revenue from Contracts with Customers” for additional details.

Card Partnership Agreements

We have contractual agreements with certain retailers and other partners to provide lending and other services to a mutual customer base. We primarily issue private-label and cobrand credit card loans to these customers over the terms of the partnership agreements.

Certain partners assist in or perform marketing activities on our behalf and promote our products and services to their customers. As compensation for providing these services, we often pay royalties, bounties or other special bonuses to these partners. Our payments to partners are generally recorded as reductions of revenue or as marketing expenses, depending on their nature. Our credit card partnership agreements may also provide for profit or revenue sharing payments which are presented as a reduction of the related revenue line item(s) when owed to the partner.

When a partner agrees to share a portion of the credit losses associated with the partnership, we evaluate the contractual provisions for the loss share payments as well as applicable accounting guidance to determine whether to present the sharing of losses on a gross or net basis in our consolidated financial statements. When loss sharing amounts due from partners are presented on a net basis, they are recorded as a reduction to our provision for credit losses in our consolidated statements of income and reduce the charge-off amounts that we report. The allowance for credit losses attributable to these portfolios is also reduced by the expected reimbursements from these partners for loss sharing amounts. See “Note 4—Allowance for Credit Losses and Reserve for Unfunded Lending Commitments” for additional information related to our loss sharing arrangements.

Collaborative Arrangements

A collaborative arrangement is a contractual arrangement that involves a joint operating activity between two or more parties that are active participants in the activity. These parties are exposed to significant risks and rewards based upon the economic success of the joint operating activity. We assess each of our partnership agreements with profit, revenue or loss sharing payments to determine if a collaborative arrangement exists and, if so, how revenue generated from third parties, costs incurred and transactions between participants in the collaborative arrangement should be accounted for and reported on our consolidated financial statements.

One partnership agreement met the definition of a collaborative arrangement as of December 31, 2021 and 2020. This agreement was amended in the first quarter of 2022. While we continue to share a fixed percentage of revenues consisting of finance charges and late fees with the partner, and the partner is required to reimburse us for a fixed percentage of credit losses incurred, the amended agreement does not meet the definition of a collaborative arrangement. Revenues and losses related to the partner’s credit card program and partnership agreement are reported on a net basis in our consolidated financial statements. Revenue sharing amounts attributable to the partner are recorded as an offset against total net revenue in our consolidated statements of income. Interest income was reduced by $1.0 billion and $1.1 billion in the years ended December 31, 2021 and

2020, respectively, for amounts earned by the partner during the years this agreement met the definition of a collaborative arrangement. The impact of all of our loss sharing arrangements that are presented on a net basis is included in “Note 4—Allowance for Credit Losses and Reserve for Unfunded Lending Commitments.”

Stock-Based Compensation

We are authorized to issue stock–based compensation to employees and directors in various forms, primarily as restricted stock units (“RSUs”), performance share units (“PSUs”) and stock options. In addition, we also issue cash-settled RSUs which are not counted against the common shares reserved for issuance or available for issuance because they are settled in cash.

For awards settled in shares, we generally recognize compensation expense on a straight-line basis over the award’s requisite service period based on the fair value of the award at the grant date. If an award settled in shares contains a performance condition with graded vesting, we recognize compensation expense using the accelerated attribution method. Restricted stock units that are cash-settled are accounted for as liability awards which results in quarterly expense fluctuations based on changes in our stock price through the date that the awards are settled. Awards to participants that are eligible for retirement or become eligible during the vesting period are expensed immediately or over the time period between the grant date and when the participant becomes retirement eligible, respectively. Stock-based compensation expense is included in salaries and associate benefits in the consolidated statements of income.

For RSUs and performance share units, the fair value of stock-based compensation used in determining compensation expense will generally equal the fair market value of our common stock on the date of grant. Stock-based compensation expense for equity classified stock options is based on the grant date fair value, which is estimated using a Black-Scholes option pricing model. Certain share-settled awards have discretionary vesting conditions which result in the remeasurement of these awards at fair value each reporting period and the potential for compensation expense to fluctuate with changes in our stock price. See “Note 13—Stock-Based Compensation Plans” for additional details.

Marketing Expenses

Marketing expense includes the cost of our various promotional efforts to attract and retain customers such as advertising, promotional materials, and certain customer incentives, including spend-based bonuses. We expense marketing costs as incurred.

Income Taxes

We recognize the current and deferred tax consequences of all transactions that have been recognized in the financial statements using the provisions of the enacted tax laws. Current income tax expense represents our estimated taxes to be paid or refunded for the current period and includes income tax expense related to our uncertain tax positions, as well as tax-related interest and penalties. Deferred tax assets and liabilities are determined based on differences between the financial reporting and tax basis of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. We record valuation allowances to reduce deferred tax assets to the amount that is more likely than not to be realized. We record the effect of remeasuring deferred tax assets and liabilities due to a change in tax rates or laws as a component of income tax expense related to continuing operations for the period in which the change is enacted. We subsequently release income tax effects stranded in AOCI using a portfolio approach. Income tax benefits are recognized when, based on their technical merits, they are more likely than not to be sustained upon examination. The amount recognized is the largest amount of benefit that is more likely than not to be realized upon settlement. See “Note 15—Income Taxes” for additional details.

Earnings Per Share

We calculate basic earnings per share by dividing net income, after deducting dividends on preferred stock and participating securities as well as undistributed earnings allocated to participating securities, by the average number of common shares outstanding during the period, net of any treasury shares. We calculate diluted earnings per share in a similar manner after consideration of the potential dilutive effect of common stock equivalents on the average number of common shares outstanding during the period. Common stock equivalents include stock options, restricted stock units, and performance share units. Common stock equivalents are calculated based upon the treasury stock method using an average market price of common shares during the period. Dilution is not considered when a net loss is reported. Common stock equivalents that have an antidilutive effect are excluded from the computation of diluted earnings per share. See “Note 12—Earnings Per Common Share” for additional details.

Derivative Instruments and Hedging Activities

All derivative financial instruments, whether designated in a qualifying hedge accounting relationship or not, are reported at their fair value on our consolidated balance sheets as either assets or liabilities. See “Note 9—Derivative Instruments and Hedging Activities” for additional details.

Fair Value

Accounting for Acquisitions

We account for business combinations under the acquisition method of accounting. Under the acquisition method, tangible and intangible identifiable assets acquired, liabilities assumed and any non-controlling interest in the acquiree are recorded at fair value as of the acquisition date, with limited exceptions. Transaction costs and costs to restructure the acquired company are expensed as incurred. Goodwill is recognized as the excess of the acquisition price over the estimated fair value of the identifiable net assets acquired. Likewise, if the fair value of the net assets acquired is greater than the acquisition price, a bargain purchase gain is recognized and recorded in other non-interest income.

If the acquired set of activities and assets do not meet the accounting definition of a business, the transaction is accounted for as an asset acquisition. In an asset acquisition, the assets acquired are recorded at the purchase price plus any transaction costs incurred and no goodwill is recognized.

Accounting Standards Adopted During the Twelve Months Ended December 31, 2022

Standard

Guidance

Adoption Timing and Financial Statement Impacts

Fair Value Hedging

ASU No. 2022-01, Derivatives and Hedging (Topic 815): Fair Value Hedging - Portfolio Layering Method

Issued March 2022

The amendments in this ASU establish the portfolio-layer method which provides flexibility to achieve fair value hedge accounting for multiple hedged layers within a single closed portfolio of financial assets.

We adopted this guidance in the second quarter of 2022 using the prospective method of adoption.

Our adoption of this standard did not have an impact on our consolidated financial statements as any designation of portfolio layer method hedges would be applied prospectively.

Investment Securities

12 Months Ended

Dec. 31, 2022

Investments, Debt and Equity Securities [Abstract]

Investment Securities


NOTE 2—INVESTMENT SECURITIES

Our investment securities portfolio consists of the following: U.S. government-sponsored enterprise or agency (“Agency”) and non-agency residential mortgage-backed securities (“RMBS”), agency commercial mortgage-backed securities (“CMBS”), U.S. Treasury securities and other securities. Agency securities include Government National Mortgage Association (“Ginnie Mae”) guaranteed securities, Federal National Mortgage Association (“Fannie Mae”) and Federal Home Loan Mortgage Corporation (“Freddie Mac”) issued securities. The carrying value of our investments in Agency and U.S. Treasury securities represented 97% and 96% of our total investment securities portfolio as of December 31, 2022 and 2021, respectively.

The table below presents the amortized cost, allowance for credit losses, gross unrealized gains and losses, and fair value aggregated by major security type as of December 31, 2022 and 2021. Accrued interest receivable of $215 million and $207 million as of December 31, 2022 and 2021, respectively, is not included in the table below.

Table 2.1: Investment Securities Available for Sale


	December 31, 2022
(Dollars in millions)	Amortized Cost		Allowance for Credit Losses		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Investment securities available for sale:
U.S. Treasury securities	$	5,129	$	0	$	2	$	(90)	$	5,041
RMBS:
Agency	71,212		0		53		(9,413)		61,852
Non-agency	653		(3)		93		(6)		737
Total RMBS	71,865		(3)		146		(9,419)		62,589
Agency CMBS	8,626		0		4		(760)		7,870
Other securities(1)	1,427		0		2		(10)		1,419
Total investment securities available for sale	$	87,047	$	(3)	$	154	$	(10,279)	$	76,919


	December 31, 2021
(Dollars in millions)	Amortized Cost		Allowance for Credit Losses		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Investment securities available for sale:
U.S. Treasury securities	$	9,419	$	0	$	23	$	0	$	9,442
RMBS:
Agency	72,593		0		958		(931)		72,620
Non-agency	792		(1)		205		0		996
Total RMBS	73,385		(1)		1,163		(931)		73,616
Agency CMBS	9,237		0		195		(63)		9,369
Other securities(1)	2,830		0		6		(2)		2,834
Total investment securities available for sale	$	94,871	$	(1)	$	1,387	$	(996)	$	95,261

__________

(1)Includes $707 million and $2.0 billion of asset-backed securities (“ABS”) as of December 31, 2022 and 2021, respectively. The remaining amount is primarily comprised of supranational bonds and foreign government bonds.

Investment Securities in a Gross Unrealized Loss Position

The table below provides the gross unrealized losses and fair value of our securities available for sale aggregated by major security type and the length of time that individual securities have been in a continuous unrealized loss position as of December 31, 2022 and 2021. The amounts include securities available for sale without an allowance for credit losses.

Table 2.2: Securities in a Gross Unrealized Loss Position


	December 31, 2022
	Less than 12 Months				12 Months or Longer				Total
(Dollars in millions)	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses
Investment securities available for sale without an allowance for credit losses:
U.S. Treasury securities	$	2,464	$	(57)	$	448	$	(33)	$	2,912	$	(90)
RMBS:
Agency	23,271		(1,809)		36,803		(7,604)		60,074		(9,413)
Non-agency	14		(1)		3		0		17		(1)
Total RMBS	23,285		(1,810)		36,806		(7,604)		60,091		(9,414)
Agency CMBS	4,325		(267)		3,214		(493)		7,539		(760)
Other securities	555		(7)		76		(3)		631		(10)
Total investment securities available for sale in a gross unrealized loss position without an allowance for credit losses(1)	$	30,629	$	(2,141)	$	40,544	$	(8,133)	$	71,173	$	(10,274)


	December 31, 2021
	Less than 12 Months				12 Months or Longer				Total
(Dollars in millions)	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses
Investment securities available for sale without an allowance for credit losses:

RMBS:
Agency	$	37,492	$	(632)	$	8,606	$	(299)	$	46,098	$	(931)
Non-agency	3		0		1		0		4		0
Total RMBS	37,495		(632)		8,607		(299)		46,102		(931)
Agency CMBS	2,999		(36)		803		(27)		3,802		(63)
Other securities	1,207		(2)		0		0		1,207		(2)
Total investment securities available for sale in a gross unrealized loss position without an allowance for credit losses(1)	$	41,701	$	(670)	$	9,410	$	(326)	$	51,111	$	(996)

__________

(1) Consists of approximately 2,840 and 740 securities in gross unrealized loss positions as of December 31, 2022 and 2021, respectively.

Maturities and Yields of Investment Securities

The table below summarizes, as of December 31, 2022, the fair value of our investment securities by major security type and contractual maturity as well as the total fair value, amortized cost and weighted-average yields of our investment securities by contractual maturity. Because borrowers may have the right to call or prepay certain obligations, the expected maturities of our securities are likely to differ from the scheduled contractual maturities presented below. The weighted-average yield below represents the effective yield for the investment securities and is calculated based on the amortized cost of each security.

Table 2.3: Contractual Maturities and Weighted-Average Yields of Securities


	December 31, 2022
(Dollars in millions)	Due in 1 Year or Less		Due > 1 Year through 5 Years		Due > 5 Years through 10 Years		Due > 10 Years		Total
Fair value of securities available for sale:
U.S. Treasury securities	$	0	$	5,041	$	0	$	0	$	5,041
RMBS(1):
Agency	0		103		1,151		60,598		61,852
Non-agency	0		0		0		737		737
Total RMBS	0		103		1,151		61,335		62,589
Agency CMBS(1)	296		2,125		3,583		1,866		7,870
Other securities	424		965		30		0		1,419
Total securities available for sale	$	720	$	8,234	$	4,764	$	63,201	$	76,919
Amortized cost of securities available for sale	$	726	$	8,492	$	5,281	$	72,548	$	87,047
Weighted-average yield for securities available for sale	3.54%		2.12%		2.54%		2.35%		2.34%

__________

(1)As of December 31, 2022, the weighted-average expected maturities of RMBS and Agency CMBS were 7.1 years and 5.0 years, respectively.

Table 2.4 Net Securities Gains or Losses and Proceeds from Sales

The following table presents the gross realized gains or losses and proceeds from the sale of securities available for sale for the years ended December 31, 2022, 2021 and 2020.


	Year Ended December 31,
(Dollars in millions)	2022		2021		2020
Realized gains (losses):
Gross realized gains	$	1	$	10	$	25
Gross realized losses	(10)		(8)		0
Net realized gains (losses)	$	(9)	$	2	$	25
Total proceeds from sales	$	2,570	$	2,776	$	812

Securities Pledged and Received

We pledged investment securities totaling $21.3 billion and $20.8 billion as of December 31, 2022 and 2021, respectively. These securities are primarily pledged to secure Public Fund Deposits and FHLB advances, as well as for other purposes as required or permitted by law. We accepted pledges of securities with a fair value of approximately $82 million and $1 million as of December 31, 2022 and 2021, respectively, related to our derivative transactions.

Loans

12 Months Ended

Dec. 31, 2022

Receivables [Abstract]

Loans


NOTE 3—LOANS

Our loan portfolio consists of loans held for investment, including loans held in our consolidated trusts, and loans held for sale. We further divide our loans held for investment into three portfolio segments: credit card, consumer banking and commercial banking. Credit card loans consist of domestic and international credit card loans. Consumer banking loans consist of auto and retail banking loans. Commercial banking loans consist of commercial and multifamily real estate as well as commercial and industrial loans. The information presented in the tables in this note excludes loans held for sale, which are carried at either fair value (if we elect the fair value option) or at the lower of cost or fair value.

Accrued interest receivable of $1.9 billion and $1.2 billion as of December 31, 2022 and 2021, respectively, is not included in the tables in this note. The table below presents the composition and aging analysis of our loans held for investment portfolio as of December 31, 2022 and 2021. The delinquency aging includes all past due loans, both performing and nonperforming.

Table 3.1: Loan Portfolio Composition and Aging Analysis


	December 31, 2022
			Delinquent Loans
(Dollars in millions)	Current		30-59 Days		60-89 Days		> 90 Days		Total Delinquent Loans		Total Loans
Credit Card:
Domestic credit card	$	127,066	$	1,405	$	975	$	2,135	$	4,515	$	131,581
International card businesses	5,895		86		58		110		254		6,149
Total credit card	132,961		1,491		1,033		2,245		4,769		137,730
Consumer Banking:
Auto	73,467		3,101		1,418		387		4,906		78,373
Retail banking	1,518		13		4		17		34		1,552
Total consumer banking	74,985		3,114		1,422		404		4,940		79,925
Commercial Banking:
Commercial and multifamily real estate	37,417		0		1		35		36		37,453
Commercial and industrial	56,942		61		55		165		281		57,223
Total commercial banking	94,359		61		56		200		317		94,676
Total loans(1)	$	302,305	$	4,666	$	2,511	$	2,849	$	10,026	$	312,331
% of Total loans	96.79%		1.50%		0.80%		0.91%		3.21%		100.00%


	December 31, 2021
			Delinquent Loans
(Dollars in millions)	Current		30-59 Days		60-89 Days		> 90 Days		Total Delinquent Loans		Total Loans
Credit Card:
Domestic credit card	$	106,312	$	773	$	528	$	1,110	$	2,411	$	108,723
International card businesses	5,836		77		50		86		213		6,049
Total credit card	112,148		850		578		1,196		2,624		114,772
Consumer Banking:
Auto	72,221		2,385		933		240		3,558		75,779
Retail banking	1,807		35		7		18		60		1,867
Total consumer banking	74,028		2,420		940		258		3,618		77,646


	December 31, 2021
			Delinquent Loans
(Dollars in millions)	Current		30-59 Days		60-89 Days		> 90 Days		Total Delinquent Loans		Total Loans
Commercial Banking:
Commercial and multifamily real estate	35,100		92		35		35		162		35,262
Commercial and industrial	49,379		139		103		39		281		49,660
Total commercial banking	84,479		231		138		74		443		84,922
Total loans(1)	$	270,655	$	3,501	$	1,656	$	1,528	$	6,685	$	277,340
% of Total loans	97.59%		1.26%		0.60%		0.55%		2.41%		100.00%

__________

(1)Loans include unamortized premiums, discounts, and deferred fees and costs totaling $1.4 billion as of both December 31, 2022 and 2021.

The following table presents our loans held for investment that are 90 days or more past due that continue to accrue interest, loans that are classified as nonperforming and loans that are classified as nonperforming without an allowance as of December 31, 2022 and 2021. Nonperforming loans generally include loans that have been placed on nonaccrual status.

Table 3.2: 90+ Day Delinquent Loans Accruing Interest and Nonperforming Loans


	December 31, 2022									December 31, 2021
(Dollars in millions)	> 90 Days and Accruing			Nonperforming Loans(1)			Nonperforming Loans Without an Allowance			> 90 Days and Accruing			Nonperforming Loans(1)			Nonperforming Loans Without an Allowance
Credit Card:
Domestic credit card	$	2,135		N/A			$	0		$	1,110		N/A			$	0
International card businesses	105			$	9		0			82			$	10		0
Total credit card	2,240			9			0			1,192			10			0
Consumer Banking:
Auto	0			595			0			0			344			0
Retail banking	0			39			8			0			47			4
Total consumer banking	0			634			8			0			391			4
Commercial Banking:
Commercial and multifamily real estate	0			271			246			3			383			268
Commercial and industrial	0			430			294			0			316			257
Total commercial banking	0			701			540			3			699			525
Total	$	2,240		$	1,344		$	548		$	1,195		$	1,100		$	529
% of Total loans held for investment	0.72		%	0.43		%	0.18		%	0.43		%	0.40		%	0.19		%

__________

(1)We recognized interest income for loans classified as nonperforming of $66 million and $43 million for the years ended December 31, 2022 and 2021 respectively

Credit Quality Indicators

We closely monitor economic conditions and loan performance trends to assess and manage our exposure to credit risk. We discuss these risks and our credit quality indicator for each portfolio segment below.

Credit Card

Our credit card loan portfolio is highly diversified across millions of accounts and numerous geographies without significant individual exposure. We therefore generally manage credit risk based on portfolios with common risk characteristics. The risk in our credit card loan portfolio correlates to broad economic trends, such as unemployment rates and the U.S. Real Gross Domestic Product (“GDP”) Rate, as well as consumers’ financial condition, all of which can have a material effect on credit performance. The key indicator we assess in monitoring the credit quality and risk of our credit card loan portfolio is delinquency trends, including an analysis of loan migration between delinquency categories over time.

The table below presents our credit card portfolio by delinquency status as of December 31, 2022 and 2021.

Table 3.3: Credit Card Delinquency Status


	December 31, 2022						December 31, 2021
(Dollars in millions)	Revolving Loans		Revolving Loans Converted to Term		Total		Revolving Loans		Revolving Loans Converted to Term		Total
Credit Card:
Domestic credit card:
Current	$	126,811	$	255	$	127,066	$	105,985	$	327	$	106,312
30-59 days	1,388		17		1,405		760		13		773
60-89 days	964		11		975		519		9		528
Greater than 90 days	2,121		14		2,135		1,100		10		1,110
Total domestic credit card	131,284		297		131,581		108,364		359		108,723

International card businesses:
Current	5,866		29		5,895		5,795		41		5,836
30-59 days	83		3		86		73		4		77
60-89 days	55		3		58		47		3		50
Greater than 90 days	106		4		110		82		4		86
Total international card businesses	6,110		39		6,149		5,997		52		6,049
Total credit card	$	137,394	$	336	$	137,730	$	114,361	$	411	$	114,772

Consumer Banking

Our consumer banking loan portfolio consists of auto and retail banking loans. Similar to our credit card loan portfolio, the risk in our consumer banking loan portfolio correlates to broad economic trends as well as consumers’ financial condition, all of which can have a material effect on credit performance. The key indicator we monitor when assessing the credit quality and risk of our auto loan portfolio is borrower credit scores as they measure the creditworthiness of borrowers. Delinquency trends are the key indicator we assess in monitoring the credit quality and risk of our retail banking loan portfolio.

The table below presents our consumer banking portfolio of loans held for investment by credit quality indicator as of December 31, 2022 and 2021. We present our auto loan portfolio by FICO scores at origination and our retail banking loan portfolio by delinquency status, which includes all past due loans, both performing and nonperforming.

Table 3.4: Consumer Banking Portfolio by Credit Quality Indicator


	December 31, 2022
	Term Loans by Vintage Year
(Dollars in millions)	2022		2021		2020		2019		2018		Prior		Total Term Loans		Revolving Loans		Revolving Loans Converted to Term		Total

Auto—At origination FICO scores:(1)
Greater than 660	$	17,872	$	14,246	$	5,354	$	2,595	$	1,032	$	328	$	41,427	$	0	$	0	$	41,427
621-660	6,212		5,060		2,257		1,167		513		185		15,394		0		0		15,394
620 or below	7,717		6,501		3,898		2,144		914		378		21,552		0		0		21,552
Total auto	31,801		25,807		11,509		5,906		2,459		891		78,373		0		0		78,373

Retail banking—Delinquency status:
Current	166		128		82		133		127		470		1,106		408		4		1,518
30-59 days	2		1		0		0		0		2		5		8		0		13
60-89 days	0		1		0		0		0		1		2		2		0		4
Greater than 90 days	0		0		0		0		3		8		11		4		2		17
Total retail banking	168		130		82		133		130		481		1,124		422		6		1,552
Total consumer banking	$	31,969	$	25,937	$	11,591	$	6,039	$	2,589	$	1,372	$	79,497	$	422	$	6	$	79,925


	December 31, 2021
	Term Loans by Vintage Year
(Dollars in millions)	2021		2020		2019		2018		2017		Prior		Total Term Loans		Revolving Loans		Revolving Loans Converted to Term		Total

Auto—At origination FICO scores:(1)
Greater than 660	$	20,758	$	8,630	$	4,739	$	2,394	$	1,153	$	301	$	37,975	$	0	$	0	$	37,975
621-660	7,456		3,721		2,109		1,084		537		157		15,064		0		0		15,064
620 or below	9,522		6,336		3,767		1,840		949		326		22,740		0		0		22,740
Total auto	37,736		18,687		10,615		5,318		2,639		784		75,779		0		0		75,779

Retail banking—Delinquency status:
Current	285		171		172		161		176		491		1,456		345		6		1,807
30-59 days	0		2		2		7		0		1		12		23		0		35
60-89 days	0		4		0		0		0		2		6		1		0		7
Greater than 90 days	0		1		0		1		1		9		12		4		2		18
Total retail banking	285		178		174		169		177		503		1,486		373		8		1,867


	December 31, 2021
	Term Loans by Vintage Year
(Dollars in millions)	2021		2020		2019		2018		2017		Prior		Total Term Loans		Revolving Loans		Revolving Loans Converted to Term		Total
Total consumer banking	$	38,021	$	18,865	$	10,789	$	5,487	$	2,816	$	1,287	$	77,265	$	373	$	8	$	77,646

__________

(1)Amounts represent period-end loans held for investment in each credit score category. Auto credit scores generally represent average FICO scores obtained from three credit bureaus at the time of application and are not refreshed thereafter. Balances for which no credit score is available or the credit score is invalid are included in the 620 or below category.

Commercial Banking

The key credit quality indicator for our commercial loan portfolios is our internal risk ratings. We assign internal risk ratings to loans based on relevant information about the ability of the borrowers to repay their debt. In determining the risk rating of a particular loan, some of the factors considered are the borrower’s current financial condition, historical and projected future credit performance, prospects for support from financially responsible guarantors, the estimated realizable value of any collateral and current economic trends. The scale based on our internal risk rating system is as follows:

•Noncriticized: Loans that have not been designated as criticized, frequently referred to as “pass” loans.

•Criticized performing: Loans in which the financial condition of the obligor is stressed, affecting earnings, cash flows or collateral values. The borrower currently has adequate capacity to meet near-term obligations; however, the stress, left unabated, may result in deterioration of the repayment prospects at some future date.

•Criticized nonperforming: Loans that are not adequately protected by the current net worth and paying capacity of the obligor or the collateral pledged, if any. Loans classified as criticized nonperforming have a well-defined weakness, or weaknesses, which jeopardize the full repayment of the debt. These loans are characterized by the distinct possibility that we will sustain a credit loss if the deficiencies are not corrected and are generally placed on nonaccrual status.

We use our internal risk rating system for regulatory reporting, determining the frequency of credit exposure reviews, and evaluating and determining the allowance for credit losses. Generally, loans that are designated as criticized performing and criticized nonperforming are reviewed quarterly by management to determine if they are appropriately classified/rated and whether any impairment exists. Noncriticized loans are also generally reviewed, at least annually, to determine the appropriate risk rating. In addition, we evaluate the risk rating during the renewal process of any loan or if a loan becomes past due.

The following table presents our commercial banking portfolio of loans held for investment by internal risk ratings as of December 31, 2022 and 2021. The internal risk rating status includes all past due loans, both performing and nonperforming.

Table 3.5: Commercial Banking Portfolio by Internal Risk Ratings


	December 31, 2022
	Term Loans by Vintage Year
(Dollars in millions)	2022		2021		2020		2019		2018		Prior		Total Term Loans		Revolving Loans		Revolving Loans Converted to Term		Total
Internal risk rating:(1)
Commercial and multifamily real estate
Noncriticized	$	9,527	$	4,086	$	1,161	$	1,671	$	1,280	$	2,898	$	20,623	$	13,254	$	25	$	33,902
Criticized performing	814		376		202		412		302		1,061		3,167		113		0		3,280
Criticized nonperforming	101		22		0		13		19		116		271		0		0		271
Total commercial and multifamily real estate	10,442		4,484		1,363		2,096		1,601		4,075		24,061		13,367		25		37,453
Commercial and industrial
Noncriticized	22,105		6,031		2,934		1,809		973		2,658		36,510		17,187		21		53,718
Criticized performing	992		560		156		160		167		76		2,111		964		0		3,075
Criticized nonperforming	196		21		5		87		40		5		354		76		0		430
Total commercial and industrial	23,293		6,612		3,095		2,056		1,180		2,739		38,975		18,227		21		57,223
Total commercial banking	$	33,735	$	11,096	$	4,458	$	4,152	$	2,781	$	6,814	$	63,036	$	31,594	$	46	$	94,676


	December 31, 2021
	Term Loans by Vintage Year
(Dollars in millions)	2021		2020		2019		2018		2017		Prior		Total Term Loans		Revolving Loans		Revolving Loans Converted to Term		Total
Internal risk rating:(1)
Commercial and multifamily real estate
Noncriticized	$	6,590	$	2,924	$	3,393	$	2,401	$	793	$	3,538	$	19,639	$	12,286	$	0	$	31,925
Criticized performing	248		195		329		317		261		1,478		2,828		101		25		2,954
Criticized nonperforming	0		0		88		20		9		266		383		0		0		383
Total commercial and multifamily real estate	6,838		3,119		3,810		2,738		1,063		5,282		22,850		12,387		25		35,262
Commercial and industrial
Noncriticized	12,662		7,039		5,506		2,750		1,730		3,033		32,720		14,310		59		47,089
Criticized performing	279		188		838		207		120		167		1,799		456		0		2,255
Criticized nonperforming	32		52		85		93		6		10		278		38		0		316
Total commercial and industrial	12,973		7,279		6,429		3,050		1,856		3,210		34,797		14,804		59		49,660
Total commercial banking	$	19,811	$	10,398	$	10,239	$	5,788	$	2,919	$	8,492	$	57,647	$	27,191	$	84	$	84,922

__________

(1)Criticized exposures correspond to the “Special Mention,” “Substandard” and “Doubtful” asset categories defined by bank regulatory authorities.

Troubled Debt Restructurings

As part of our loss mitigation efforts, we may provide short-term (one to twelve months) or long-term (greater than twelve months) modifications to a borrower experiencing financial difficulty to improve long-term collectability of the loan and to avoid the need for repossession or foreclosure of collateral.

We consider the impact of all loan modifications, whether or not that modification is classified as a troubled debt restructuring (“TDR”), when estimating the credit quality of our loan portfolio and establishing allowance levels. For our Commercial Banking customers, loan modifications are also considered in the assignment of an internal risk rating.

Additional guidance issued by the Federal Banking Agencies and contained in the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) provided banking organizations with TDR relief for loan modifications to certain qualifying borrowers impacted by the Coronavirus Disease of 2019 (“COVID-19”) pandemic. The guidance in the CARES Act expired on January 1, 2022, at which time we also concurrently ceased applying the additional guidance issued by the Federal Banking Agencies. We adopted Accounting Standard Update (“ASU”) No. 2022-02 as of January 1, 2023, which eliminates the accounting guidance for TDRs.

Total recorded TDRs were $2.7 billion and $1.6 billion as of December 31, 2022 and 2021, respectively. TDRs classified as performing in our credit card and consumer banking loan portfolios totaled $1.5 billion and $1.1 billion as of December 31, 2022 and 2021, respectively. TDRs classified as performing in our commercial banking loan portfolio totaled $595 million and $192 million as of December 31, 2022 and 2021, respectively. Commitments to lend additional funds on loans modified in TDRs totaled $219 million and $168 million as of December 31, 2022 and 2021, respectively.

The following tables present the major modification types, amortized cost amounts and financial effects of loans modified in a TDR during the years ended December 31, 2022, 2021 and 2020.

Table 3.6: Troubled Debt Restructurings


			Year Ended December 31, 2022
			Reduced Interest Rate				Term Extension
(Dollars in millions)	Total Loans Modified(1)		% of TDR Activity(2)		Average Rate Reduction		% of TDR Activity(2)		Average Term Extension (Months)
Credit Card:
Domestic credit card	$	306	100	%	16.54	%	N/A		N/A
International card businesses	127		100		27.42		N/A		N/A
Total credit card	433		100		19.73		N/A		N/A
Consumer Banking:
Auto	1,070		57		8.53		97	%	4
Retail banking	7		N/A		N/A		92		13
Total consumer banking	1,077		57		8.53		97		4
Commercial Banking:
Commercial and multifamily real estate	385		8		0.28		84		13
Commercial and industrial	357		N/A		N/A		64		13
Total commercial banking	742		4		0.28		74		13
Total	$	2,252


			Year Ended December 31, 2021
			Reduced Interest Rate				Term Extension			Balance Reduction
(Dollars in millions)	Total Loans Modified(1)		% of TDR Activity(2)		Average Rate Reduction		% of TDR Activity(2)		Average Term Extension (Months)	% of TDR Activity(2)		Gross Balance Reduction
Credit Card:
Domestic credit card	$	154	100	%	15.90	%	N/A		N/A	N/A		N/A
International card businesses	123		100		27.70		N/A		N/A	N/A		N/A
Total credit card	277		100		21.15		N/A		N/A	N/A		N/A
Consumer Banking:
Auto	371		43		8.72		93	%	4	0	%	$	1
Retail banking	3		13		2.94		30		42	N/A		N/A
Total consumer banking	374		42		8.70		93		4	0		1
Commercial Banking:
Commercial and multifamily real estate	49		21		1.19		85		11	N/A		N/A
Commercial and industrial	112		N/A		N/A		30		6	N/A		N/A
Total commercial banking	161		6		1.19		46		9	N/A		N/A
Total	$	812


			Year Ended December 31, 2020
			Reduced Interest Rate				Term Extension			Balance Reduction
(Dollars in millions)	Total Loans Modified(1)		% of TDR Activity(2)		Average Rate Reduction		% of TDR Activity(2)		Average Term Extension (Months)	% of TDR Activity(2)		Gross Balance Reduction
Credit Card:
Domestic credit card	$	243	100	%	15.94	%	N/A		N/A	N/A		N/A
International card businesses	168		100		27.38		N/A		N/A	N/A		N/A
Total credit card	411		100		20.61		N/A		N/A	N/A		N/A
Consumer Banking:
Auto	536		11		5.68		95	%	3	0	%	$	1
Retail banking	5		11		10.86		20		8	N/A		N/A
Total consumer banking	541		11		5.73		94		3	0		1
Commercial Banking:
Commercial and multifamily real estate	98		N/A		N/A		86		5	N/A		N/A
Commercial and industrial	439		4		0.14		52		21	4		7
Total commercial banking	537		3		0.14		58		17	3		7
Total	$	1,489

__________

(1)Represents the amortized cost of total loans modified in TDR at the end of the period in which they were modified. As not every modification type is included in the table above, the total percentage of TDR activity may not add up to 100%. Some loans may receive more than one type of modification.

(2)Due to multiple modification types granted to some troubled borrowers, percentages may total more than 100% for certain loan types.

Subsequent Defaults of Completed TDR Modifications

The following table presents the type, number and amortized cost of loans modified in a TDR that experienced a default during the period and had completed a modification event in the twelve months prior to the default. A default occurs if the loan is either 90 days or more delinquent, has been charged off as of the end of the period presented or has been reclassified from accrual to nonaccrual status.

Table 3.7: TDR—Subsequent Defaults


	Year Ended December 31,
		2022	2021			2020
(Dollars in millions)			Number of Contracts	Amount		Number of Contracts	Amount		Number of Contracts	Amount
Credit Card:
Domestic credit card			37,029	$	75	18,694	$	35	32,639	$	69
International card businesses			74,432	79		58,914	87		58,363	87
Total credit card			111,461	154		77,608	122		91,002	156
Consumer Banking:
Auto			16,100	285		8,847	136		5,877	77
Retail banking			1	1		9	0		10	1
Total consumer banking			16,101	286		8,856	136		5,887	78
Commercial Banking:
Commercial and multifamily real estate			2	27		1	50		1	50
Commercial and industrial			5	56		7	120		15	130
Total commercial banking			7	83		8	170		16	180
Total			127,569	$	523	86,472	$	428	96,905	$	414

Loans Pledged

We pledged loan collateral of $9.8 billion and $10.3 billion to secure a portion of our FHLB borrowing capacity of $19.9 billion and $19.7 billion as of December 31, 2022 and 2021, respectively. We also pledged loan collateral of $34.1 billion and $26.5 billion to secure our Federal Reserve Discount Window borrowing capacity of $19.7 billion and $19.6 billion as of December 31, 2022 and 2021, respectively. In addition to loans pledged, we have securitized a portion of our credit card and auto loan portfolios. See “Note 5—Variable Interest Entities and Securitizations” for additional information.

Loans Held for Sale

Our total loans held for sale was $203 million and $5.9 billion as of December 31, 2022 and 2021, respectively. We originated for sale $8.6 billion, $9.1 billion and $10.0 billion of commercial multifamily real estate loans in 2022, 2021 and 2020, respectively, and typically retain servicing rights upon the sale of these loans.

Revolving Loans Converted to Term Loans

For the years ended December 31, 2022 and 2021, we converted $441 million and $223 million of revolving loans to term loans, respectively, primarily in our domestic credit card and commercial banking loan portfolios

Allowance for Credit Losses and Reserve for Unfunded Lending Commitments

12 Months Ended

Dec. 31, 2022

Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]

Allowance for Credit Losses and Reserve for Unfunded Lending Commitment


NOTE 4—ALLOWANCE FOR CREDIT LOSSES AND RESERVE FOR UNFUNDED LENDING COMMITMENTS

Our allowance for credit losses represents management’s current estimate of expected credit losses over the contractual terms of our loans held for investment as of each balance sheet date. Expected recoveries of amounts previously charged off or expected to be charged off are recognized within the allowance. Significant judgment is applied in our estimation of lifetime credit losses. When developing an estimate of expected credit losses, we use both quantitative and qualitative methods in considering all available information relevant to assessing collectability. This may include internal information, external information or a combination of both relating to past events, current conditions and reasonable and supportable forecasts. Our estimate of expected credit losses includes a reasonable and supportable forecast period of one year and then reverts over a one-year period to historical losses at each relevant loss component of the estimate. Management will consider and may qualitatively adjust for conditions, changes and trends in loan portfolios that may not be captured in modeled results. These adjustments are referred to as qualitative factors and represent management’s judgment of the imprecision and risks inherent in the processes and assumptions used in establishing the allowance for credit losses.

For credit card loans, accrued interest is charged off simultaneously with the charge off of other components of amortized cost as a reduction of revenue. Total net revenue was reduced by $946 million, $629 million and $1.1 billion in 2022, 2021 and 2020, respectively, for finance charge and fees charged-off as uncollectible.

We have unfunded lending commitments in our Commercial Banking business that are not unconditionally cancellable by us and for which we estimate expected credit losses in establishing a reserve. This reserve is measured using the same measurement objectives as the allowance for loans held for investment. We build or release the reserve for unfunded lending commitments through the provision for credit losses in our consolidated statements of income, and the related reserve for unfunded lending commitments is included in other liabilities on our consolidated balance sheets.

See “Note 1—Summary of Significant Accounting Policies” for further discussion of the methodology and policy for determining our allowance for credit losses for each of our loan portfolio segments, as well as information on our reserve for unfunded lending commitments.

Allowance for Credit Losses and Reserve for Unfunded Lending Commitments Activity

The table below summarizes changes in the allowance for credit losses and reserve for unfunded lending commitments by portfolio segment for the years ended December 31, 2022, 2021 and 2020. Our allowance for credit losses increased by $1.8 billion to $13.2 billion as of December 31, 2022 from 2021.

Table 4.1: Allowance for Credit Losses and Reserve for Unfunded Lending Commitments Activity



(Dollars in millions)	Credit Card		Consumer Banking		Commercial Banking		Total
Allowance for credit losses:
Balance as of December 31, 2019	$	5,395	$	1,038	$	775	$	7,208
Cumulative effects from adoption of the CECL standard	2,241		502		102		2,845
Finance charge and fee reserve reclassification(1)	462		0		0		462
Balance as of January 1, 2020	8,098		1,540		877		10,515
Charge-offs	(5,749)		(1,534)		(394)		(7,677)
Recoveries(2)	1,479		956		17		2,452
Net charge-offs	(4,270)		(578)		(377)		(5,225)
Provision for credit losses	7,327		1,753		1,158		10,238
Allowance build for credit losses(3)	3,057		1,175		781		5,013
Other changes(4)	36		0		0		36
Balance as of December 31, 2020	$	11,191	$	2,715	$	1,658	$	15,564



(Dollars in millions)	Credit Card		Consumer Banking		Commercial Banking		Total
Reserve for unfunded lending commitments:
Balance as of December 31, 2019	0		5		130		135
Cumulative effects from adoption of the CECL standard	0		(5)		42		37
Balance as of January 1, 2020	0		0		172		172
Provision for losses on unfunded lending commitments	0		0		23		23
Balance as of December 31, 2020	0		0		195		195
Combined allowance and reserve as of December 31, 2020	$	11,191	$	2,715	$	1,853	$	15,759
Allowance for credit losses:
Balance as of December 31, 2020	$	11,191	$	2,715	$	1,658	$	15,564
Charge-offs	(3,481)		(1,211)		(48)		(4,740)
Recoveries(2)	1,525		935		46		2,506
Net charge-offs	(1,956)		(276)		(2)		(2,234)
Benefit for credit losses	(902)		(521)		(489)		(1,912)
Allowance release for credit losses	(2,858)		(797)		(491)		(4,146)
Other changes(4)	12		0		0		12
Balance as of December 31, 2021	8,345		1,918		1,167		11,430
Reserve for unfunded lending commitments:
Balance as of December 31, 2020	0		0		195		195
Provision (benefit) for losses on unfunded lending commitments	0		0		(30)		(30)
Balance as of December 31, 2021	0		0		165		165
Combined allowance and reserve as of December 31, 2021	$	8,345	$	1,918	$	1,332	$	11,595
Allowance for credit losses:
Balance as of December 31, 2021	$	8,345	$	1,918	$	1,167	$	11,430
Charge-offs	(4,362)		(1,614)		(88)		(6,064)
Recoveries(2)	1,314		760		17		2,091
Net charge-offs	(3,048)		(854)		(71)		(3,973)
Provision (benefit) for credit losses	4,265		1,173		362		5,800
Allowance build for credit losses	1,217		319		291		1,827
Other changes(4)	(17)		0		0		(17)
Balance as of December 31, 2022	9,545		2,237		1,458		13,240
Reserve for unfunded lending commitments:
Balance as of December 31, 2021	0		0		165		165
Provision for losses on unfunded lending commitments	0		0		53		53
Balance as of December 31, 2022	0		0		218		218
Combined allowance and reserve as of December 31, 2022	$	9,545	$	2,237	$	1,676	$	13,458

__________

(1)Concurrent with our adoption of the current expected credit losses (“CECL”) standard in the first quarter of 2020, we reclassified our finance charge and fee reserve to our allowance for credit losses, with a corresponding increase to credit card loans held for investment.

(2)The amount and timing of recoveries are impacted by our collection strategies, which are based on customer behavior and risk profile and include direct customer communications, repossession of collateral, the periodic sale of charged off loans as well as additional strategies, such as litigation.

(3)Includes an allowance release of $327 million for a partnership credit card loan portfolio transferred to held for sale in the third quarter of 2020.

(4)Primarily represents foreign currency translation adjustments and, in periods of acquisition, initial allowance builds for purchase credit-deteriorated loans.

Credit Card Partnership Loss Sharing Arrangements

We have certain credit card partnership agreements that are presented within our consolidated financial statements on a net basis, in which our partner agrees to share a portion of the credit losses on the underlying loan portfolio. The expected reimbursements from these partners are netted against our allowance for credit losses. Our methodology for estimating reimbursements is consistent with the methodology we use to estimate the allowance for credit losses on our credit card loan receivables. These expected reimbursements result in reductions to net charge-offs and the provision for credit losses. See “Note 1—Summary of Significant Accounting Policies” for further discussion of our credit card partnership agreements.

The table below summarizes the changes in the estimated reimbursements from these partners for the years ended December 31, 2022, 2021 and 2020.

Table 4.2: Summary of Credit Card Partnership Loss Sharing Arrangements Impacts


	Year Ended December 31,
(Dollars in millions)	2022		2021		2020
Estimated reimbursements from partners, beginning of period(1)	$	1,450	$	2,159	$	2,166
Amounts due from partners which reduced net charge-offs	(515)		(438)		(959)
Amounts expected to become due from (to) partners which reduced (increased) provision for credit losses	623		(271)		952
Estimated reimbursements from partners, end of period	$	1,558	$	1,450	$	2,159

__________

(1)Includes effects from adoption of the CECL standard in the first quarter of 2020.

Variable Interest Entities and Securitizations

12 Months Ended

Dec. 31, 2022

Variable Interest Entities and Securitization [Abstract]

Variable Interest Entities and Securitizations


NOTE 5—VARIABLE INTEREST ENTITIES AND SECURITIZATIONS

In the normal course of business, we enter into various types of transactions with entities that are considered to be variable interest entities (“VIEs”). Our primary involvement with VIEs is related to our securitization transactions in which we transfer assets to securitization trusts. We primarily securitize credit card and auto loans, which provide a source of funding for us and enable us to transfer a certain portion of the economic risk of the loans or related debt securities to third parties.

The entity that has a controlling financial interest in a VIE is referred to as the primary beneficiary and is required to consolidate the VIE. The majority of the VIEs in which we are involved have been consolidated in our financial statements.

Summary of Consolidated and Unconsolidated VIEs

The assets of our consolidated VIEs primarily consist of cash, loan receivables and the related allowance for credit losses, which we report on our consolidated balance sheets under restricted cash for securitization investors, loans held in consolidated trusts and allowance for credit losses, respectively. The assets of a particular VIE are the primary source of funds to settle its obligations. Creditors of these VIEs typically do not have recourse to our general credit. Liabilities primarily consist of debt securities issued by the VIEs, which we report under securitized debt obligations on our consolidated balance sheets. For unconsolidated VIEs, we present the carrying amount of assets and liabilities reflected on our consolidated balance sheets and our maximum exposure to loss. Our maximum exposure to loss is estimated based on the unlikely event that all of the assets in the VIEs become worthless and we are required to meet the maximum amount of any remaining funding obligations.

The tables below present a summary of VIEs in which we had continuing involvement or held a significant variable interest, aggregated based on VIEs with similar characteristics as of December 31, 2022 and 2021. We separately present information for consolidated and unconsolidated VIEs.

Table 5.1: Carrying Amount of Consolidated and Unconsolidated VIEs


	December 31, 2022
	Consolidated				Unconsolidated
(Dollars in millions)	Carrying Amount of Assets		Carrying Amount of Liabilities		Carrying Amount of Assets		Carrying Amount of Liabilities		Maximum Exposure to Loss
Securitization-Related VIEs:(1)
Credit card loan securitizations(2)	$	23,620	$	13,877	$	0	$	0	$	0
Auto loan securitizations	4,863		4,002		0		0		0
Total securitization-related VIEs	28,483		17,879		0		0		0
Other VIEs:(3)
Affordable housing entities	261		19		4,944		1,596		4,944
Entities that provide capital to low-income and rural communities	2,301		10		0		0		0
Other(4)	0		0		337		0		337
Total other VIEs	2,562		29		5,281		1,596		5,281
Total VIEs	$	31,045	$	17,908	$	5,281	$	1,596	$	5,281


	December 31, 2021
	Consolidated				Unconsolidated
(Dollars in millions)	Carrying Amount of Assets		Carrying Amount of Liabilities		Carrying Amount of Assets		Carrying Amount of Liabilities		Maximum Exposure to Loss
Securitization-Related VIEs:(1)
Credit card loan securitizations(2)	$	21,569	$	13,016	$	0	$	0	$	0
Auto loan securitizations	2,552		2,187		0		0		0
Total securitization-related VIEs	24,121		15,203		0		0		0


	December 31, 2021
	Consolidated				Unconsolidated
(Dollars in millions)	Carrying Amount of Assets		Carrying Amount of Liabilities		Carrying Amount of Assets		Carrying Amount of Liabilities		Maximum Exposure to Loss
Other VIEs:(3)
Affordable housing entities	263		27		4,774		1,454		4,774
Entities that provide capital to low-income and rural communities	2,074		26		0		0		0
Other(4)	0		0		383		0		383
Total other VIEs	2,337		53		5,157		1,454		5,157
Total VIEs	$	26,458	$	15,256	$	5,157	$	1,454	$	5,157

__________

(1)Excludes insignificant VIEs from previously exited businesses.

(2)Represents the carrying amount of assets and liabilities of the VIE, which includes the seller’s interest and repurchased notes held by other related parties.

(3)In certain investment structures, we consolidate a VIE which in turn holds as its primary asset an investment in an unconsolidated VIE. In these instances, we disclose the carrying amount of assets and liabilities on our consolidated balance sheets as unconsolidated VIEs to avoid duplicating our exposure, as the unconsolidated VIEs are generally the operating entities generating the exposure. The carrying amount of assets and liabilities included in the unconsolidated VIE columns above related to these investment structures were $2.3 billion of assets and $616 million of liabilities as of December 31, 2022, and $2.2 billion of assets and $568 million of liabilities as of December 31, 2021.

(4)Primarily consists of variable interests in companies that promote renewable energy sources and other equity method investments.

Securitization-Related VIEs

In a securitization transaction, assets are transferred to a trust, which generally meets the definition of a VIE. We engage in securitization activities as an issuer and an investor. Our primary securitization issuance activity includes credit card and auto securitizations, conducted through securitization trusts which we consolidate. Our continuing involvement in these securitization transactions mainly consists of acting as the primary servicer and holding certain retained interests.

In our multifamily agency business, we originate multifamily commercial real estate loans and transfer them to government-sponsored enterprises (“GSEs”) who may, in turn, securitize them. We retain the related MSRs and service the transferred loans pursuant to the guidelines set forth by the GSEs. As an investor, we hold primarily RMBS, CMBS, and ABS in our investment securities portfolio, which represent variable interests in the respective securitization trusts from which those securities were issued. We do not consolidate the securitization trusts employed in these transactions as we do not have the power to direct the activities that most significantly impact the economic performance of these securitization trusts. We exclude these VIEs from the tables within this note because we do not consider our continuing involvement with these VIEs to be significant as we either solely invest in securities issued by the VIE and were not involved in the design of the VIE or no transfers have occurred between the VIE and ourselves. Our maximum exposure to loss as a result of our involvement with these VIEs is the carrying value of the MSRs and investment securities on our consolidated balance sheets as well as our contractual obligations under loss sharing arrangements. See “Note 18—Commitments, Contingencies, Guarantees and Others” for information about the loss sharing agreements, “Note 6—Goodwill and Other Intangible Assets” for information related to our MSRs associated with these securitizations and “Note 2—Investment Securities” for more information on the securities held in our investment securities portfolio. In addition, where we have certain lending arrangements in the normal course of business with entities that could be VIEs, we have also excluded these VIEs from the tables presented in this note. See “Note 3—Loans” for additional information regarding our lending arrangements in the normal course of business.

The table below presents our continuing involvement in certain securitization-related VIEs as of December 31, 2022 and 2021.

Table 5.2: Continuing Involvement in Securitization-Related VIEs


(Dollars in millions)	Credit Card		Auto
December 31, 2022:
Securities held by third-party investors	$	12,976	$	3,997
Receivables in the trusts	24,367		4,682
Cash balance of spread or reserve accounts	0		23
Retained interests	Yes		Yes
Servicing retained	Yes		Yes
December 31, 2021:
Securities held by third-party investors	$	12,808	$	2,186
Receivables in the trusts	22,454		2,418
Cash balance of spread or reserve accounts	0		13
Retained interests	Yes		Yes
Servicing retained	Yes		Yes

Credit Card Securitizations

We securitize a portion of our credit card loans which provides a source of funding for us. Credit card securitizations involve the transfer of credit card receivables to securitization trusts. These trusts then issue debt securities collateralized by the transferred receivables to third-party investors. We hold certain retained interests in our credit card securitizations and continue to service the receivables in these trusts. We consolidate these trusts because we are deemed to be the primary beneficiary as we have the power to direct the activities that most significantly impact the economic performance of the trusts, and the right to receive benefits or the obligation to absorb losses that could potentially be significant to the trusts.

Auto Securitizations

Similar to our credit card securitizations, we securitize a portion of our auto loans which provides a source of funding for us. Auto securitizations involve the transfer of auto loans to securitization trusts. These trusts then issue debt securities collateralized by the transferred loans to third-party investors. We hold certain retained interests and continue to service the loans in these trusts. We consolidate these trusts because we are deemed to be the primary beneficiary as we have the power to direct the activities that most significantly impact the economic performance of the trusts, and the right to receive benefits or the obligation to absorb losses that could potentially be significant to the trusts.

Other VIEs

Affordable Housing Entities

As part of our community reinvestment initiatives, we invest in private investment funds that make equity investments in multifamily affordable housing properties. We receive affordable housing tax credits for these investments. The activities of these entities are financed with a combination of invested equity capital and debt. We account for certain investments in qualified affordable housing projects using the proportional amortization method if certain criteria are met. The proportional amortization method amortizes the cost of the investment over the period in which the investor expects to receive tax credits and other tax benefits, and the resulting amortization is recognized as a component of income tax expense attributable to continuing operations. For the years ended December 31, 2022 and 2021, we recognized amortization of $637 million and $633 million, respectively, and tax credits of $664 million and $644 million, respectively, associated with these investments within income tax provision. The carrying value of our equity investments in these qualified affordable housing projects was $4.9 billion and $4.7 billion as of December 31, 2022 and 2021, respectively. We are periodically required to provide additional financial or other support during the period of the investments. Our liability for these unfunded commitments was $1.8 billion and $1.7 billion as of December 31, 2022 and 2021 respectively, and is largely expected to be paid from 2023 to 2025.

For those investment funds considered to be VIEs, we are not required to consolidate them if we do not have the power to direct the activities that most significantly impact the economic performance of those entities. We record our interests in these unconsolidated VIEs in loans held for investment, other assets and other liabilities on our consolidated balance sheets. Our maximum exposure to these entities is limited to our variable interests in the entities which consisted of assets of approximately $4.9 billion and $4.8 billion as of December 31, 2022 and 2021 respectively. The creditors of the VIEs have no recourse to our general credit and we do not provide additional financial or other support other than during the period that we are contractually required to provide it. The total assets of the unconsolidated VIE investment funds were approximately $12.5 billion and $11.9 billion as of December 31, 2022 and 2021, respectively.

Entities that Provide Capital to Low-Income and Rural Communities

We hold variable interests in entities (“Investor Entities”) that invest in community development entities (“CDEs”) that provide debt financing to businesses and non-profit entities in low-income and rural communities. Variable interests in the CDEs held by the consolidated Investor Entities are also our variable interests. The activities of the Investor Entities are financed with a combination of invested equity capital and debt. The activities of the CDEs are financed solely with invested equity capital. We receive federal and state tax credits for these investments. We consolidate the VIEs in which we have the power to direct the activities that most significantly impact the VIE’s economic performance and where we have the obligation to absorb losses or right to receive benefits that could be potentially significant to the VIE. We consolidate other investments and CDEs that are not considered to be VIEs, but where we hold a controlling financial interest. The assets of the VIEs that we consolidated, which totaled approximately $2.3 billion and $2.1 billion as of December 31, 2022 and 2021, respectively, are reflected on our consolidated balance sheets in cash, loans held for investment, and other assets. The liabilities are reflected in other liabilities. The creditors of the VIEs have no recourse to our general credit. We have not provided additional financial or other support other than during the period that we are contractually required to provide it.

Other

We hold variable interests in other VIEs, including companies that promote renewable energy sources and other equity method investments. We are not required to consolidate these VIEs because we do not have the power to direct the activities that most significantly impact their economic performance. Our maximum exposure to these VIEs is limited to the investments on our consolidated balance sheets of $337 million and $383 million as of December 31, 2022 and 2021, respectively. The creditors of the other VIEs have no recourse to our general credit. We have not provided additional financial or other support other than during the period that we are contractually required to provide it.

Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets


NOTE 6—GOODWILL AND OTHER INTANGIBLE ASSETS

The table below presents our goodwill, other intangible assets and MSRs as of December 31, 2022 and 2021. Goodwill is presented separately, while other intangible assets and MSRs are included in other assets on our consolidated balance sheets.

Table 6.1: Components of Goodwill, Other Intangible Assets and MSRs


	December 31, 2022
(Dollars in millions)	Carrying Amount of Assets		Accumulated Amortization		Net Carrying Amount		Weighted Average Remaining Amortization Period
Goodwill	$	14,777	N/A		$	14,777	N/A
Other intangible assets:
Purchased credit card relationship (“PCCR”) intangibles	147		$	(26)	121		7.8 years

Other(1)	195		(157)		38		5.4 years
Total other intangible assets	342		(183)		159		7.3 years
Total goodwill and other intangible assets	$	15,119	$	(183)	$	14,936
Commercial MSRs(2)	$	660	$	(223)	$	437

	December 31, 2021
(Dollars in millions)	Carrying Amount of Assets		Accumulated Amortization		Net Carrying Amount		Weighted Average Remaining Amortization Period
Goodwill	$	14,782	N/A		$	14,782	N/A
Other intangible assets:
Purchased credit card relationship (“PCCR”) intangibles	29		$	(10)	19		5.9 years

Other(1)	213		(121)		92		4.1 years
Total other intangible assets	242		(131)		111		4.4 years
Total goodwill and other intangible assets	$	15,024	$	(131)	$	14,893
Commercial MSRs(2)	$	622	$	(202)	$	420

__________

(1)Primarily consists of intangibles for sponsorship, customer and merchant relationships, trade names and other customer contract intangibles.

(2)Commercial MSRs are accounted for under the amortization method under which we recorded $93 million and $79 million of amortization expense for the years ended December 31, 2022 and 2021 , respectively.

Goodwill

The following table presents changes in carrying amount of goodwill by each of our business segments as of December 31, 2022, 2021 and 2020. There were no changes in the carrying amount of goodwill by each of our business segments for the year ended December 31, 2020. We did not recognize any goodwill impairment during 2022, 2021 and 2020.

Table 6.2: Goodwill by Business Segments


(Dollars in millions)	Credit Card		Consumer Banking		Commercial Banking		Total
Balance as of December 31, 2019	$	5,088	$	4,645	$	4,920	$	14,653



Balance as of December 31, 2020	$	5,088	$	4,645	$	4,920	$	14,653
Acquisitions	0		0		130		130

Other adjustments(1)	(1)		0		0		(1)
Balance as of December 31, 2021	$	5,087	$	4,645	$	5,050	$	14,782


Other adjustments(1)	(9)		0		4		(5)
Balance as of December 31, 2022	$	5,078	$	4,645	$	5,054	$	14,777

__________

(1)Represents foreign currency translation adjustments and measurement period adjustments on prior period acquisitions.

The goodwill impairment test is performed as of October 1 of each year. An impairment of a reporting unit’s goodwill is determined based on the amount by which the reporting unit’s carrying value exceeds its fair value, limited to the amount of goodwill allocated to the reporting unit.

The fair value of reporting units is calculated using a discounted cash flow methodology, a form of the income approach. The calculation uses projected cash flows based on each reporting unit’s internal forecast and uses the perpetuity growth method to calculate terminal values. These cash flows and terminal values are then discounted using appropriate discount rates, which are largely based on our external cost of equity with adjustments for risk inherent in each reporting unit. The carrying amount for a reporting unit is the sum of its respective capital requirements, goodwill and other intangibles balances. Capital is allocated based on each reporting unit’s specific regulatory capital requirements, economic capital requirements, and underlying risks. Consolidated stockholder’s equity in excess of the sum of all reporting unit’s capital requirements that is not identified for future capital needs, such as dividends, share buybacks, or other strategic initiatives, is allocated to the reporting units and the Other category and assumed distributed to equity holders in future periods. Our discounted cash flow analysis requires management to make judgments about future loan and deposit growth, revenue growth, credit losses, and capital rates. The reasonableness of our fair value calculation is assessed by reference to a market-based approach using comparable market multiples and recent market transactions where available.

Intangible Assets

In connection with our acquisitions, we recorded intangible assets that include PCCR intangibles, sponsorship, customer and merchant relationships, partnership, trade names, and other customer contract intangibles. At acquisition, the PCCR intangibles reflect the estimated value of existing credit card holder relationships. There was a $10 million impairment of intangible assets in 2022. There were no impairments of intangible assets in 2021 and 2020.

Intangible assets are typically amortized over their respective estimated useful lives on either an accelerated or straight-line basis. The following table summarizes the actual amortization expense recorded for the years ended December 31, 2022, 2021 and 2020 and the estimated future amortization expense for intangible assets as of December 31, 2022:

Table 6.3: Amortization Expense


(Dollars in millions)	Amortization Expense
Actual for the year ended December 31,
2020	$	60
2021	29
2022	60
Estimated future amounts for the year ending December 31,
2023	38
2024	31
2025	26
2026	19
2027	15
Thereafter	21
Total estimated future amounts	$	150

Premises, Equipment and Leases

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment and Lease Commitments [Abstract]

Premises, Equipment and Leases


NOTE 7—PREMISES, EQUIPMENT AND LEASES

Premises and Equipment

The following table presents our premises and equipment as of December 31, 2022 and 2021.

Table 7.1 Components of Premises and Equipment


(Dollars in millions)	December 31, 2022		December 31, 2021
Land	$	320	$	336
Buildings and improvements	4,345		3,854
Furniture and equipment	1,831		1,816
Computer software	2,213		2,006
In progress	646		732
Total premises and equipment, gross	9,355		8,744
Less: Accumulated depreciation and amortization	(5,004)		(4,534)
Total premises and equipment, net	$	4,351	$	4,210

Depreciation and amortization expense was $790 million, $775 million and $809 million for the years ended December 31, 2022, 2021 and 2020, respectively.

Leases

Our primary involvement with leases is in the capacity as a lessee where we lease premises to support our business. A majority of our leases are operating leases of office space, retail bank branches and cafés. For real estate leases, we have elected to account for the lease and non-lease components together as a single lease component. Our operating leases expire at various dates through 2071, and many of them require variable lease payments by us, of property taxes, insurance premiums, common area maintenance and other costs. Certain of these leases also have extension or termination options, and we assess the likelihood of exercising such options. If it is reasonably certain that we will exercise the options, then we include the impact in the measurement of our right-of-use assets and lease liabilities.

Our right-of-use assets and lease liabilities for operating leases are included in other assets and other liabilities on our consolidated balance sheets. As most of our operating leases do not provide an implicit rate, we use our incremental borrowing rate in determining the present value of future lease payments. Our operating lease expense is included in occupancy and equipment within non-interest expense in our consolidated statements of income. Total operating lease expense consists of operating lease cost, which is recognized on a straight-line basis over the lease term, and variable lease cost, which is recognized based on actual amounts incurred. We also sublease certain premises, and sublease income is included in other non-interest income in our consolidated statements of income.

The following tables present information about our operating lease portfolio and the related lease costs as of and for the years ended December 31, 2022 and 2021.

Table 7.2 Operating Lease Portfolio


(Dollars in millions)	December 31, 2022			December 31, 2021
Right-of-use assets	$	1,128		$	1,137
Lease liabilities	1,458			1,485
Weighted-average remaining lease term	8.4 years			8 years
Weighted-average discount rate	3.1		%	3.0		%

Table 7.3 Total Operating Lease Expense and Other Information


	Year Ended December 31,
(Dollars in millions)	2022		2021
Operating lease cost	$	280	$	305
Variable lease cost	42		42

Total lease cost	322		347
Sublease income	(16)		(23)
Net lease cost	$	306	$	324
Cash paid for amounts included in the measurement of lease liabilities	$	320	$	353
Right-of-use assets obtained in exchange for lease liabilities	221		81

The following table presents a maturity analysis of our operating leases and a reconciliation of the undiscounted cash flows to our lease liabilities as of December 31, 2022.

Table 7.4 Maturities of Operating Leases and Reconciliation to Lease Liabilities


(Dollars in millions)	December 31, 2022
2023	$	259
2024	241
2025	210
2026	192
2027	167
Thereafter	623
Total undiscounted lease payments	1,692
Less: Imputed interest	(234)
Total lease liabilities	$	1,458

As of December 31, 2022, we had approximately $22 million and $33 million of right-of-use assets and lease liabilities, respectively, for finance leases with a weighted-average remaining lease term of 3.3 years. As of December 31, 2021, we had approximately $33 million and $53 million of right-of-use assets and lease liabilities, respectively, for finance leases with a weighted-average remaining lease term of 3.4 years. These right-of-use assets and lease liabilities are included in premises and equipment, net and other borrowings, respectively, on our consolidated balance sheets. We recognized $14 million and $22 million of total finance lease expense for the years ended December 31, 2022 and 2021, respectively.

Deposits and Borrowings

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

Deposits and Borrowings


NOTE 8—DEPOSITS AND BORROWINGS

Our deposits, which include checking accounts, money market deposits, negotiable order of withdrawals, savings deposits and time deposits, represent our largest source of funding for our assets and operations. We also use a variety of other funding sources including short-term borrowings, senior and subordinated notes, securitized debt obligations and other borrowings. Securitized debt obligations are presented separately on our consolidated balance sheets, as they represent obligations of consolidated securitization trusts, while federal funds purchased and securities loaned or sold under agreements to repurchase, senior and subordinated notes and other borrowings, including FHLB advances, are included in other debt on our consolidated balance sheets.

Our total short-term borrowings generally consist of federal funds purchased, securities loaned or sold under agreements to repurchase and FHLB advances. Our long-term debt consists of borrowings with an original contractual maturity of greater than one year. The following tables summarize the components of our deposits, short-term borrowings and long-term debt as of December 31, 2022 and 2021. The carrying value presented below for these borrowings includes unamortized debt premiums and discounts, net of debt issuance costs and fair value hedge accounting adjustments.

Table 8.1: Components of Deposits, Short-Term Borrowings and Long-Term Debt


(Dollars in millions)	December 31, 2022		December 31, 2021
Deposits:
Non-interest-bearing deposits	$	32,203	$	38,043
Interest-bearing deposits(1)	300,789		272,937
Total deposits	$	332,992	$	310,980
Short-term borrowings:
Federal funds purchased and securities loaned or sold under agreements to repurchase	$	883	$	820

Total short-term borrowings	$	883	$	820


	December 31, 2022					December 31, 2021
(Dollars in millions)	Maturity Dates	Stated Interest Rates	Weighted-Average Interest Rate	Carrying Value		Carrying Value
Long-term debt:
Securitized debt obligations	2023-2028	0.32% - 4.95%	2.61%	$	16,973	$	14,994
Senior and subordinated notes:
Fixed unsecured senior debt(2)	2023-2033	0.80 - 5.27	3.43	24,134		19,975
Floating unsecured senior debt	2023-2025	4.99 - 5.65	5.17	1,597		1,709
Total unsecured senior debt			3.53	25,731		21,684
Fixed unsecured subordinated debt	2023-2032	2.36 - 4.20	3.52	5,095		5,535
Total senior and subordinated notes				30,826		27,219
Other long-term borrowings:

Finance lease liabilities	2023 - 2031	0.30 - 9.91	4.27	33		53
Total other long-term borrowings				33		53
Total long-term debt				$	47,832	$	42,266
Total short-term borrowings and long-term debt				$	48,715	$	43,086

__________

(1)Includes $6.1 billion and $1.8 billion of time deposits in denominations in excess of the $250,000 federal insurance limit as of December 31, 2022 and 2021, respectively.

(2)Includes $1.2 billion and $1.4 billion of Euro (“EUR”) denominated unsecured notes as of December 31, 2022 and 2021, respectively.

The following table presents the carrying value of our interest-bearing time deposits with contractual maturities, securitized debt obligations and other debt by remaining contractual maturity as of December 31, 2022.

Table 8.2: Maturity Profile of Borrowings


(Dollars in millions)	2023		2024		2025		2026		2027		Thereafter		Total
Interest-bearing time deposits	$	20,090	$	13,321	$	4,349	$	2,077	$	5,719	$	302	$	45,858
Securitized debt obligations	466		4,166		7,780		1,749		1,620		1,192		16,973
Federal funds purchased and securities loaned or sold under agreements to repurchase	883		0		0		0		0		0		883
Senior and subordinated notes	4,859		6,387		4,397		4,325		3,381		7,477		30,826
Other borrowings	19		3		2		2		3		4		33
Total	$	26,317	$	23,877	$	16,528	$	8,153	$	10,723	$	8,975	$	94,573

Derivative Instruments and Hedging Activities

12 Months Ended

Dec. 31, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments and Hedging Activities


NOTE 9—DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES

Use of Derivatives and Accounting for Derivatives

We regularly enter into derivative transactions to support our overall risk management activities. Our primary market risks stem from the impact on our earnings and economic value of equity due to changes in interest rates and, to a lesser extent, changes in foreign exchange rates. We manage our interest rate sensitivity by employing several techniques, which include changing the duration and re-pricing characteristics of various assets and liabilities by using interest rate derivatives. We also use foreign currency derivatives to limit our earnings and capital exposures to foreign exchange risk by hedging exposures denominated in foreign currencies. We primarily use interest rate and foreign currency swaps to hedge, but we may also use a variety of other derivative instruments, including caps, floors, options, futures and forward contracts, to manage our interest rate and foreign exchange risks. We designate these risk management derivatives as either qualifying accounting hedges or free-standing derivatives. Qualifying accounting hedges are further designated as fair value hedges, cash flow hedges or net investment hedges. Free-standing derivatives are economic hedges that do not qualify for hedge accounting.

We also offer interest rate, commodity, foreign currency derivatives and other contracts as an accommodation to our customers within our Commercial Banking business. We enter into these derivatives with our customers primarily to help them manage their interest rate risks, hedge their energy and other commodities exposures, and manage foreign currency fluctuations. We offset the majority of the market risk exposure of our customer accommodation derivatives through derivative transactions with other counterparties.

See below for additional information on our use of derivatives and how we account for them:

•Fair Value Hedges: We designate derivatives as fair value hedges when they are used to manage our exposure to changes in the fair value of certain financial assets and liabilities, which fluctuate in value as a result of movements in interest rates. Changes in the fair value of derivatives designated as fair value hedges are presented in the same line item in our consolidated statements of income as the earnings effect of the hedged items. Our fair value hedges primarily consist of interest rate swaps that are intended to modify our exposure to interest rate risk on various fixed-rate financial assets and liabilities.

•Cash Flow Hedges: We designate derivatives as cash flow hedges when they are used to manage our exposure to variability in cash flows related to forecasted transactions. Changes in the fair value of derivatives designated as cash flow hedges are recorded as a component of AOCI. Those amounts are reclassified into earnings in the same period during which the hedged forecasted transactions impact earnings and presented in the same line item in our consolidated statements of income as the earnings effect of the hedged items. Our cash flow hedges use interest rate swaps and floors that are intended to hedge the variability in interest receipts or interest payments on some of our variable-rate financial assets or liabilities. We also enter into foreign currency forward contracts to hedge our exposure to variability in cash flows related to intercompany borrowings denominated in foreign currencies.

•Net Investment Hedges: We use net investment hedges to manage the foreign currency exposure related to our net investments in foreign operations that have functional currencies other than the U.S. dollar. Changes in the fair value of net investment hedges are recorded in the translation adjustment component of AOCI, offsetting the translation gain or loss from those foreign operations. We execute net investment hedges using foreign currency forward contracts to hedge the translation exposure of the net investment in our foreign operations under the forward method.

•Free-Standing Derivatives: Our free-standing derivatives primarily consist of our customer accommodation derivatives and other economic hedges. The customer accommodation derivatives and the related offsetting contracts are mainly interest rate, commodity and foreign currency contracts. The other free-standing derivatives are primarily used to economically hedge the risk of changes in the fair value of our commercial mortgage loan origination and purchase commitments as well as other interests held. Changes in the fair value of free-standing derivatives are recorded in earnings as a component of other non-interest income.

Derivatives Counterparty Credit Risk

Counterparty Types

Derivative instruments contain an element of credit risk that stems from the potential failure of a counterparty to perform according to the terms of the contract, including making payments due upon maturity of certain derivative instruments. We execute our derivative contracts primarily in OTC markets. We also execute interest rate and commodity futures in the exchange-traded derivative markets. Our OTC derivatives consist of both trades cleared through central counterparty clearinghouses (“CCPs”) and uncleared bilateral contracts. The Chicago Mercantile Exchange (“CME”), the Intercontinental Exchange (“ICE”) and the LCH Group (“LCH”) are our CCPs for our centrally cleared contracts. In our uncleared bilateral contracts, we enter into agreements directly with our derivative counterparties.

Counterparty Credit Risk Management

We manage the counterparty credit risk associated with derivative instruments by entering into legally enforceable master netting agreements, where applicable, and exchanging collateral with our counterparties, typically in the form of cash or high-quality liquid securities. We exchange collateral in two primary forms: variation margin, which mitigates the risk of changes in value due to daily market movements and is exchanged daily, and initial margin, which mitigates the risk of potential future exposure of a derivative and is exchanged at the outset of a transaction and adjusted daily. We exchange variation margin and initial margin on our cleared derivatives. For uncleared bilateral derivatives, we exchange variation margin and initial margin on any new trades executed after September 1, 2021, where such trades are in scope for initial margin.

The amount of collateral exchanged for variation margin is dependent upon the fair value of the derivative instruments as well as the fair value of the pledged collateral and will vary over time as market variables change. The amount of the initial margin exchanged is dependent upon 1) the calculation of initial margin exposure, as prescribed by 1(a) the U.S. prudential regulators’ margin rules for uncleared derivatives (“PR Rules”) or 1(b) the CCPs for cleared derivatives and 2) the fair value of the pledged collateral; it will vary over time as market variables change. When valuing collateral, an estimate of the variation in price and liquidity over time is subtracted in the form of a “haircut” to discount the value of the collateral pledged. Our exposure to derivative counterparty credit risk, at any point in time, is equal to the amount reported as a derivative asset on our balance sheet. The fair value of our derivatives is adjusted on an aggregate basis to take into consideration the effects of legally enforceable master netting agreements and any associated collateral received or pledged. See Table 9.3 for our net exposure associated with derivatives.

The terms under which we collateralize our exposures differ between cleared exposures and uncleared bilateral exposures.

•CCPs: We clear eligible OTC derivatives with CCPs as part of our regulatory requirements. We also clear exchange-traded instruments, like futures, with CCPs. Futures commission merchants (“FCMs”) serve as the intermediary between CCPs and us. CCPs require that we post initial and variation margin through our FCMs to mitigate the risk of non-payment or default. Initial margin is required by CCPs as collateral against potential losses on our exchange-traded and cleared derivative contracts and variation margin is exchanged on a daily basis to account for mark-to-market changes in those derivative contracts. For CME, ICE and LCH-cleared OTC derivatives, variation margin cash payments are required to be characterized as settlements. Our FCM agreements governing these derivative transactions include provisions that may require us to post additional collateral under certain circumstances.

•Bilateral Counterparties: We enter into master netting agreements and collateral agreements with bilateral derivative counterparties, where applicable, to mitigate the risk of default. These bilateral agreements typically provide the right to offset exposure with the same counterparty and require the party in a net liability position to post collateral. Agreements with certain bilateral counterparties require both parties to maintain collateral in the event the fair values of uncleared derivatives exceed established exposure thresholds. Certain of these bilateral agreements include provisions requiring that our debt maintain a credit rating of investment grade or above by each of the major credit rating agencies. In the event of a downgrade of our debt credit rating below investment grade, some of our counterparties would have the right to terminate their derivative contract and close out existing positions.

Credit Risk Valuation Adjustments

We record counterparty credit valuation adjustments (“CVAs”) on our derivative assets to reflect the credit quality of our counterparties. We consider collateral and legally enforceable master netting agreements that mitigate our credit exposure to each counterparty in determining CVAs, which may be adjusted due to changes in the fair values of the derivative contracts, collateral, and creditworthiness of the counterparty. We also record debit valuation adjustments (“DVAs”) to adjust the fair values of our derivative liabilities to reflect the impact of our own credit quality.

Balance Sheet Presentation

The following table summarizes the notional amounts and fair values of our derivative instruments as of December 31, 2022 and 2021, which are segregated by derivatives that are designated as accounting hedges and those that are not, and are further segregated by type of contract within those two categories. The total derivative assets and liabilities are adjusted on an aggregate basis to take into consideration the effects of legally enforceable master netting agreements and any associated cash collateral received or pledged. Derivative assets and liabilities are included in other assets and other liabilities, respectively, on our consolidated balance sheets, and their related gains or losses are included in operating activities as changes in other assets and other liabilities in the consolidated statements of cash flows.

Table 9.1: Derivative Assets and Liabilities at Fair Value


	December 31, 2022						December 31, 2021
	Notional or Contractual Amount		Derivative(1)				Notional or Contractual Amount		Derivative(1)
(Dollars in millions)			Assets		Liabilities				Assets		Liabilities
Derivatives designated as accounting hedges:
Interest rate contracts:
Fair value hedges	$	60,956	$	3	$	53	$	49,659	$	2	$	3
Cash flow hedges	30,350		0		451		52,400		244		16
Total interest rate contracts	91,306		3		504		102,059		246		19
Foreign exchange contracts:
Fair value hedges	1,338		0		211		1,421		13		0
Cash flow hedges	2,175		4		14		4,679		24		20
Net investment hedges	4,147		78		91		3,459		43		0
Total foreign exchange contracts	7,660		82		316		9,559		80		20
Total derivatives designated as accounting hedges	98,966		85		820		111,618		326		39
Derivatives not designated as accounting hedges:
Customer accommodation:
Interest rate contracts	91,601		1,140		1,873		71,724		620		194
Commodity contracts	28,935		1,756		1,738		22,021		1,669		1,561
Foreign exchange and other contracts	4,926		74		78		3,779		40		42
Total customer accommodation	125,462		2,970		3,689		97,524		2,329		1,797
Other interest rate exposures(2)	1,135		34		22		1,899		33		25
Other contracts	2,238		9		19		2,028		2		7
Total derivatives not designated as accounting hedges	128,835		3,013		3,730		101,451		2,364		1,829
Total derivatives	$	227,801	$	3,098	$	4,550	$	213,069	$	2,690	$	1,868
Less: netting adjustment(3)			(1,134)		(1,235)				(542)		(544)
Total derivative assets/liabilities			$	1,964	$	3,315			$	2,148	$	1,324

__________

(1)Does not reflect $4 million and $11 million recognized as a net valuation allowance on derivative assets and liabilities for non-performance risk as of December 31, 2022 and 2021, respectively. Non-performance risk is included in derivative assets and liabilities, which are part of other assets and other liabilities on the consolidated balance sheets, and is offset through non-interest income in the consolidated statements of income.

(2)Other interest rate exposures include commercial mortgage-related derivatives and interest rate swaps.

(3)Represents balance sheet netting of derivative assets and liabilities, and related payables and receivables for cash collateral held or placed with the same counterparty.

The following table summarizes the carrying value of our hedged assets and liabilities in fair value hedges and the associated cumulative basis adjustments included in those carrying values, excluding basis adjustments related to foreign currency risk, as of December 31, 2022 and 2021.

Table 9.2: Hedged Items in Fair Value Hedging Relationships


	December 31, 2022						December 31, 2021
	Carrying Amount Assets/(Liabilities)		Cumulative Amount of Basis Adjustments Included in the Carrying Amount				Carrying Amount Assets/(Liabilities)		Cumulative Amount of Basis Adjustments Included in the Carrying Amount
(Dollars in millions)			Total Assets/(Liabilities)		Discontinued-Hedging Relationships				Total Assets/(Liabilities)		Discontinued-Hedging Relationships
Line item on our consolidated balance sheets in which the hedged item is included:
Investment securities available for sale(1)(2)	$	3,983	$	(80)	$	200	$	10,327	$	286	$	295
Interest-bearing deposits	(17,280)		500		(1)		(7,361)		(47)		(1)
Securitized debt obligations	(11,921)		748		0		(11,155)		49		3
Senior and subordinated notes	(24,544)		1,542		(527)		(22,777)		(531)		(708)

__________

(1)These amounts include the amortized cost basis of our investment securities designated in hedging relationships for which the hedged item is the last layer expected to be remaining at the end of the hedging relationship. The amortized cost basis of this portfolio was $236 million and $247 million as of December 31, 2022 and 2021, respectively. The amount of the designated hedged items was $225 million as of both December 31, 2022 and 2021. The cumulative basis adjustments associated with these hedges was $13 million and $3 million as of December 31, 2022 and 2021, respectively.

(2)Carrying value represents amortized cost.

Balance Sheet Offsetting of Financial Assets and Liabilities

Derivative contracts and repurchase agreements that we execute bilaterally in the OTC market are generally governed by enforceable master netting agreements where we generally have the right to offset exposure with the same counterparty. Either counterparty can generally request to net settle all contracts through a single payment upon default on, or termination of, any one contract. We elect to offset the derivative assets and liabilities under master netting agreements for balance sheet presentation where a right of setoff exists. For derivative contracts entered into under master netting agreements for which we have not been able to confirm the enforceability of the setoff rights, or those not subject to master netting agreements, we do not offset our derivative positions for balance sheet presentation.

The following table presents the gross and net fair values of our derivative assets, derivative liabilities, resale and repurchase agreements and the related offsetting amounts permitted under U.S. GAAP as of December 31, 2022 and 2021. The table also includes cash and non-cash collateral received or pledged in accordance with such arrangements. The amount of collateral presented, however, is limited to the amount of the related net derivative fair values or outstanding balances; therefore, instances of over-collateralization are excluded.

Table 9.3: Offsetting of Financial Assets and Financial Liabilities


	Gross Amounts		Gross Amounts Offset in the Balance Sheet				Net Amounts as Recognized		Securities Collateral Held Under Master Netting Agreements		Net Exposure
(Dollars in millions)			Financial Instruments		Cash Collateral Received
As of December 31, 2022
Derivative assets(1)	$	3,098	$	(759)	$	(375)	$	1,964	$	(96)	$	1,868
As of December 31, 2021
Derivative assets(1)	2,690		(252)		(290)		2,148		0		2,148


	Gross Amounts		Gross Amounts Offset in the Balance Sheet				Net Amounts as Recognized		Securities Collateral Pledged Under Master Netting Agreements		Net Exposure
(Dollars in millions)			Financial Instruments		Cash Collateral Pledged
As of December 31, 2022
Derivative liabilities(1)	$	4,550	$	(759)	$	(476)	$	3,315	$	(85)	$	3,230
Repurchase agreements(2)	883		0		0		883		(883)		0
As of December 31, 2021
Derivative liabilities(1)	1,868		(252)		(292)		1,324		0		1,324
Repurchase agreements(2)	820		0		0		820		(820)		0

__________

(1)We received cash collateral from derivative counterparties totaling $608 million and $377 million as of December 31, 2022 and 2021, respectively. We also received securities from derivative counterparties with a fair value of approximately $82 million and $1 million as of December 31, 2022 and 2021, respectively, which we have the ability to re-pledge. We posted $2.3 billion and $2.0 billion of cash collateral as of December 31, 2022 and 2021, respectively.

(2)Under our customer repurchase agreements, which mature the next business day, we pledged collateral with a fair value of $900 million and $836 million as of December 31, 2022 and 2021, respectively, primarily consisting of agency RMBS securities.

Income Statement and AOCI Presentation

Fair Value and Cash Flow Hedges

The net gains (losses) recognized in our consolidated statements of income related to derivatives in fair value and cash flow hedging relationships are presented below for the years ended December 31, 2022, 2021 and 2020.

Table 9.4: Effects of Fair Value and Cash Flow Hedge Accounting


	Year Ended December 31, 2022
	Net Interest Income												Non-Interest Income
(Dollars in millions)	Investment Securities		Loans, Including Loans Held for Sale		Other		Interest-bearing Deposits		Securitized Debt Obligations		Senior and Subordinated Notes		Other
Total amounts presented in our consolidated statements of income	$	1,884	$	28,910	$	443	$	(2,535)	$	(384)	$	(1,074)	$	905
Fair value hedging relationships:
Interest rate and foreign exchange contracts:
Interest recognized on derivatives	$	48	$	0	$	0	$	2	$	(48)	$	(197)	$	0
Gains (losses) recognized on derivatives	276		0		0		(542)		(698)		(1,893)		(84)
Gains (losses) recognized on hedged items(1)	(366)		0		0		546		699		2,059		83
Excluded component of fair value hedges(2)	0		0		0		0		0		(3)		0
Net income (expense) recognized on fair value hedges	$	(42)	$	0	$	0	$	6	$	(47)	$	(34)	$	(1)
Cash flow hedging relationships:(3)
Interest rate contracts:
Realized gains (losses) reclassified from AOCI into net income	$	0	$	(121)	$	0	$	0	$	0	$	0	$	0
Foreign exchange contracts:
Realized gains (losses) reclassified from AOCI into net income(4)	0		0		3		0		0		0		(1)
Net income (expense) recognized on cash flow hedges	$	0	$	(121)	$	3	$	0	$	0	$	0	$	(1)



	Year Ended December 31, 2021
	Net Interest Income												Non-Interest Income
(Dollars in millions)	Investment Securities		Loans, Including Loans Held for Sale		Other		Interest-bearing Deposits		Securitized Debt Obligations		Senior and Subordinated Notes		Other
Total amounts presented in our consolidated statements of income	$	1,446	$	24,263	$	60	$	(956)	$	(119)	$	(488)	$	826
Fair value hedging relationships:
Interest rate and foreign exchange contracts:
Interest recognized on derivatives	$	(92)	$	0	$	0	$	126	$	123	$	209	$	0
Gains (losses) recognized on derivatives	207		0		0		(168)		(237)		(799)		(106)
Gains (losses) recognized on hedged items(1)	(299)		0		0		167		220		941		106
Excluded component of fair value hedges(2)	0		0		0		0		0		(3)		0
Net income (expense) recognized on fair value hedges	$	(184)	$	0	$	0	$	125	$	106	$	348	$	0
Cash flow hedging relationships:(3)
Interest rate contracts:
Realized gains reclassified from AOCI into net income	$	38	$	919	$	0	$	0	$	0	$	0	$	0
Foreign exchange contracts:
Realized gains reclassified from AOCI into net income(4)	0		0		1		0		0		0		1
Net income (expense) recognized on cash flow hedges	$	38	$	919	$	1	$	0	$	0	$	0	$	1



	Year Ended December 31, 2020
	Net Interest Income												Non-Interest Income
(Dollars in millions)	Investment Securities		Loans, Including Loans Held for Sale		Other		Interest-bearing Deposits		Securitized Debt Obligations		Senior and Subordinated Notes		Other
Total amounts presented in our consolidated statements of income	$	1,877	$	24,074	$	82	$	(2,165)	$	(232)	$	(679)	$	1,350
Fair value hedging relationships:
Interest rate and foreign exchange contracts:
Interest recognized on derivatives	$	(76)	$	0	$	0	$	108	$	125	$	225	$	0
Gains (losses) recognized on derivatives	(306)		0		0		204		176		950		126
Gains (losses) recognized on hedged items(1)	290		0		0		(203)		(212)		(904)		(125)
Excluded component of fair value hedges(2)	0		0		0		0		0		(3)		0
Net income (expense) recognized on fair value hedges	$	(92)	$	0	$	0	$	109	$	89	$	268	$	1
Cash flow hedging relationships:(3)
Interest rate contracts:
Realized gains reclassified from AOCI into net income	$	25	$	541	$	0	$	0	$	0	$	0	$	0
Foreign exchange contracts:
Realized gains (losses) reclassified from AOCI into net income(4)	0		0		10		0		0		0		(1)
Net income (expense) recognized on cash flow hedges	$	25	$	541	$	10	$	0	$	0	$	0	$	(1)

_________

(1)Includes amortization benefit of $78 million and $39 million for the years ended December 31, 2022 and 2021, respectively, and expense of $12 million for year ended December 31, 2020, related to basis adjustments on discontinued hedges.

(2)Changes in fair values of cross-currency swaps attributable to changes in cross-currency basis spreads are excluded from the assessment of hedge effectiveness and recorded in other comprehensive income (“OCI”). The initial value of the excluded component is recognized in earnings over the life of the swap under the amortization approach.

(3)See “Note 10—Stockholders’ Equity” for the effects of cash flow and net investment hedges on AOCI and amounts reclassified to net income, net of tax.

(4)We recognized a loss of $17 million for the year ended December 31, 2022, gain of $163 million in 2021, and loss of $57 million for year ended December 31, 2020, on foreign exchange contracts reclassified from AOCI. These amounts were largely offset by the foreign currency transaction gains (losses) on our foreign currency denominated intercompany funding included in other non-interest income on our consolidated statements of income.

In the next 12 months, we expect to reclassify into earnings a net after-tax loss of $814 million recorded in AOCI as of December 31, 2022 associated with cash flow hedges of forecasted transactions. This amount will offset the cash flows associated with hedged forecasted transactions. The maximum length of time over which forecasted transactions were hedged was approximately 9.2 years as of December 31, 2022. The amount we expect to reclassify into earnings may change as a result of changes in market conditions and ongoing actions taken as part of our overall risk management strategy.

Free-Standing Derivatives

The net impacts to our consolidated statements of income related to free-standing derivatives are presented below for the years ended December 31, 2022, 2021 and 2020. These gains or losses are recognized in other non-interest income on our consolidated statements of income.

Table 9.5: Gains (Losses) on Free-Standing Derivatives


	Year Ended December 31,
(Dollars in millions)	2022		2021		2020
Gains (losses) recognized in other non-interest income:
Customer accommodation:
Interest rate contracts	$	40	$	32	$	15
Commodity contracts	49		28		32
Foreign exchange and other contracts	14		7		8
Total customer accommodation	103		67		55
Other interest rate exposures	76		(5)		(8)
Other contracts	(38)		(12)		(4)
Total	$	141	$	50	$	43

Stockholders' Equity

12 Months Ended

Dec. 31, 2022

Equity [Abstract]

Stockholders' Equity


NOTE 10—STOCKHOLDERS’ EQUITY

Preferred Stock

The following table summarizes our preferred stock outstanding as of December 31, 2022 and 2021.

Table 10.1: Preferred Stock Outstanding(1)


			Redeemable by Issuer Beginning	Per Annum Dividend Rate	Dividend Frequency	Liquidation Preference per Share		Total Shares Outstanding as of December 31, 2022	Carrying Value (in millions)
Series	Description	Issuance Date							December 31, 2022		December 31, 2021



Series I	5.000% Non-Cumulative	September 11, 2019	December 1, 2024	5.000%	Quarterly	$	1,000	1,500,000	$	1,462	$	1,462
Series J	4.800% Non-Cumulative	January 31, 2020	June 1, 2025	4.800	Quarterly	1,000		1,250,000	1,209		1,209
Series K	4.625% Non-Cumulative	September 17, 2020	December 1, 2025	4.625	Quarterly	1,000		125,000	122		122
Series L	4.375% Non-Cumulative	May 4, 2021	September 1, 2026	4.375	Quarterly	1,000		675,000	652		652
Series M	3.950% Fixed Rate Reset Non-Cumulative	June 10, 2021	September 1, 2026	3.950% through 8/31/2026; resets 9/1/2026 and every subsequent 5 year anniversary at 5-Year Treasury Rate +3.157%	Quarterly	1,000		1,000,000	988		988
Series N	4.250% Non-Cumulative	July 29, 2021	September 1, 2026	4.250%	Quarterly	1,000		425,000	412		412
Total									$	4,845	$	4,845

__________

(1)Except for Series M, ownership is held in the form of depositary shares, each representing a 1/40th interest in a share of fixed-rate non-cumulative perpetual preferred stock.

Accumulated Other Comprehensive Income

AOCI primarily consists of accumulated net unrealized gains or losses associated with securities available for sale, changes in fair value of derivatives in hedging relationships and foreign currency translation adjustments.

The following table presents the changes in AOCI by component for the years ended December 31, 2022, 2021 and 2020.

Table 10.2: AOCI



(Dollars in millions)	Securities Available for Sale		Hedging Relationships(1)		Foreign Currency Translation Adjustments (2)		Other		Total
AOCI as of December 31, 2019	$	935	$	354	$	(107)	$	(26)	$	1,156
Cumulative effects from the adoption of the CECL standard	(8)		0		0		0		(8)
Other comprehensive income before reclassifications	1,278		1,401		76		5		2,760
Amounts reclassified from AOCI into earnings	(19)		(393)		0		(2)		(414)
Other comprehensive income, net of tax	1,259		1,008		76		3		2,346
AOCI as of December 31, 2020	2,186		1,362		(31)		(23)		3,494
Other comprehensive income (loss) before reclassifications	(1,887)		(396)		10		7		(2,266)
Amounts reclassified from AOCI into earnings	(2)		(848)		0		(4)		(854)
Other comprehensive income (loss), net of tax	(1,889)		(1,244)		10		3		(3,120)
AOCI as of December 31, 2021	297		118		(21)		(20)		374
Other comprehensive income (loss) before reclassifications	(7,980)		(2,404)		1		(17)		(10,400)
Amounts reclassified from AOCI into earnings	7		104		0		(1)		110
Other comprehensive income (loss), net of tax	(7,973)		(2,300)		1		(18)		(10,290)
AOCI as of December 31, 2022	$	(7,676)	$	(2,182)	$	(20)	$	(38)	$	(9,916)

__________

(1)Includes amounts related to cash flow hedges as well as the excluded component of cross-currency swaps designated as fair value hedges.

(2)Includes other comprehensive gains of $305 million and $22 million, and loss of $65 million for the years ended December 31, 2022, 2021 and 2020, respectively, from hedging instruments designated as net investment hedges.

The following table presents amounts reclassified from each component of AOCI to our consolidated statements of income for the years ended December 31, 2022, 2021 and 2020.

Table 10.3: Reclassifications from AOCI


(Dollars in millions)		Year Ended December 31,
AOCI Components	Affected Income Statement Line Item		2022		2021		2020
Securities available for sale:
	Non-interest income (loss)		$	(9)	$	2	$	25
	Income tax provision (benefit)		(2)		0		6
	Net income (loss)		(7)		2		19
Hedging relationships:
Interest rate contracts:	Interest income (loss)		(121)		957		566
Foreign exchange contracts:	Interest income		3		1		10
	Interest expense		(3)		(3)		(3)
	Non-interest income (loss)		(17)		163		(57)
	Income (loss) from continuing operations before income taxes		(138)		1,118		516
	Income tax provision (benefit)		(34)		270		123
	Net income (loss)		(104)		848		393
Other:
	Non-interest income and non-interest expense		1		5		2
	Income tax provision (benefit)		0		1		0
	Net income		1		4		2
Total reclassifications			$	(110)	$	854	$	414

The table below summarizes other comprehensive income (loss) activity and the related tax impact for the years ended December 31, 2022 and 2021 and 2020.

Table 10.4: Other Comprehensive Income (Loss)


	Year Ended December 31,
	2022						2021						2020
(Dollars in millions)	Before Tax		Provision (Benefit)		After Tax		Before Tax		Provision (Benefit)		After Tax		Before Tax		Provision (Benefit)		After Tax
Other comprehensive income (loss):
Net unrealized gains (losses) on securities available for sale	$	(10,516)	$	(2,543)	$	(7,973)	$	(2,486)	$	(597)	$	(1,889)	$	1,659	$	400	$	1,259
Net unrealized gains (losses) on hedging relationships	(3,032)		(732)		(2,300)		(1,640)		(396)		(1,244)		1,329		321		1,008
Foreign currency translation adjustments(1)	98		97		1		17		7		10		56		(20)		76
Other	(24)		(6)		(18)		4		1		3		4		1		3
Other comprehensive loss	$	(13,474)	$	(3,184)	$	(10,290)	$	(4,105)	$	(985)	$	(3,120)	$	3,048	$	702	$	2,346

__________

(1)Includes the impact of hedging instruments designated as net investment hedges.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

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+ Details

Regulatory and Capital Adequacy

12 Months Ended

Dec. 31, 2022

Mortgage Banking [Abstract]

Regulatory and Capital Adequacy


NOTE 11—REGULATORY AND CAPITAL ADEQUACY

Regulation and Capital Adequacy

The Company and the Bank are subject to regulatory capital requirements established by the Board of Governors of the Federal Reserve System (“Federal Reserve”) and the Office of the Comptroller of the Currency (“OCC”), respectively (“Basel III Capital Rules”). The Basel III Capital Rules implement certain capital requirements published by the Basel Committee on Banking Supervision (“Basel Committee”), along with certain provisions of the Dodd-Frank Wall Street Reform and Consumer Production Act of 2010 (“Dodd-Frank Act”) and other capital provisions.

As a bank holding company (“BHC”) with total consolidated assets of at least $250 billion but less than $700 billion and not exceeding any of the applicable risk-based thresholds, the Company is a Category III institution under the Basel III Capital Rules.

The Bank, as a subsidiary of a Category III institution, is a Category III bank. Moreover, the Bank, as an insured depository institution, is subject to prompt corrective action (“PCA”) capital regulations.

Under the Basel III Capital Rules, we must maintain a minimum common equity Tier 1 (“CET1”) capital ratio of 4.5%, a Tier 1 capital ratio of 6.0% and a total capital ratio of 8.0%, in each case in relation to risk-weighted assets. In addition, we must maintain a minimum leverage ratio of 4.0% and a minimum supplementary leverage ratio of 3.0%. We are also subject to the standardized approach capital conservation buffer requirement, which includes the stress capital buffer requirement, any global systematically important banks (“G-SIB”) surcharge (which is not applicable to us) and the countercyclical capital buffer requirement (which is currently set at 0%). Our stress capital buffer requirement for the period beginning on October 1, 2022 through September 30, 2023 is 3.1%. Our capital and leverage ratios are calculated based on the Basel III standardized approach framework.

We have elected to exclude certain elements of AOCI from our regulatory capital as permitted for a Category III institution.

The Federal Reserve, OCC, and the Federal Deposit Insurance Corporation (collectively, “Federal Banking Agencies”) adopted a final rule (“CECL Transition Rule”) that provides banking institutions an optional five-year transition period to phase in the impact of the CECL standard on their regulatory capital(the “CECL Transition Election”). We adopted the CECL standard (for accounting purposes) as of January 1, 2020, and made the CECL Transition Election (for regulatory capital purposes) in the first quarter of 2020. Therefore, the applicable amounts presented in this Report reflect such election.

Pursuant to the CECL Transition Rule, a banking institution could elect to delay the estimated impact of adopting CECL on its regulatory capital through December 31, 2021 and then phase in the estimated cumulative impact from January 1, 2022 through December 31, 2024. For the “day 2” ongoing impact of CECL during the initial two years, the Federal Banking Agencies used a uniform “scaling factor” of 25% as an approximation of the increase in the allowance under the CECL standard compared to the prior incurred loss methodology. Accordingly, from January 1, 2020 through December 31, 2021, electing banking institutions were permitted to add back to their regulatory capital an amount equal to the sum of the after-tax “day 1” CECL adoption impact and 25% of the increase in the allowance since the adoption of the CECL standard. From January 1, 2022 through December 31, 2024, the after-tax “day 1” CECL adoption impact and the cumulative “day 2” ongoing impact are being phased in to regulatory capital at 25% per year. The following table summarizes the capital impact delay and phase in period on our regulatory capital from years 2020 to 2025.

Capital Impact Delayed

Phase In Period

2020

2021

2022

2023

2024

2025

“Day 1” CECL adoption impact

Capital impact delayed to 2022

25% Phased In

50% Phased In

75% Phased In

Fully Phased In

Cumulative “day 2” ongoing impact

25% scaling factor as an approximation of the increase in allowance under CECL

As of December 31, 2021, we added back an aggregate amount of $2.4 billion to our regulatory capital pursuant to the CECL Transition Rule. Consistent with the rule, we phased in 25% of this amount, or $599 million, on January 1, 2022, leaving

$1.8 billion to be phased in over 2023-2025. As of December 31, 2022, the Company’s CET1 capital ratio, reflecting the CECL Transition Rule, was 12.5% and would have been 12.0% excluding the impact of the CECL Transition Rule (or “on a fully phased-in basis”).

For additional information about the capital adequacy guidelines to which we are subject, see “Part I—Item 1. Business—Supervision and Regulation.”

The following table provides a comparison of our regulatory capital amounts and ratios under the Basel III standardized approach subject to the applicable transition provisions, the regulatory minimum capital adequacy ratios and the applicable well-capitalized standard for each ratio as of December 31, 2022 and 2021.

Table 11.1: Capital Ratios Under Basel III(1)


	December 31, 2022					December 31, 2021
(Dollars in millions)	Capital Amount		Capital Ratio	Minimum Capital Adequacy	Well- Capitalized	Capital Amount		Capital Ratio	Minimum Capital Adequacy	Well- Capitalized
Capital One Financial Corp:
Common equity Tier 1 capital(2)	$	44,731	12.5%	4.5%	N/A	$	43,501	13.1%	4.5%	N/A
Tier 1 capital(3)	49,576		13.9	6.0	6.0%	48,346		14.5	6.0	6.0%
Total capital(4)	56,714		15.8	8.0	10.0	56,089		16.9	8.0	10.0
Tier 1 leverage(5)	49,576		11.1	4.0	N/A	48,346		11.6	4.0	N/A
Supplementary leverage(6)	49,576		9.5	3.0	N/A	48,346		9.9	3.0	N/A
CONA:
Common equity Tier 1 capital(2)	46,630		13.1	4.5	6.5	26,699		11.1	4.5	6.5
Tier 1 capital(3)	46,630		13.1	6.0	8.0	26,699		11.1	6.0	8.0
Total capital(4)	51,165		14.4	8.0	10.0	29,449		12.2	8.0	10.0
Tier 1 leverage(5)	46,630		10.5	4.0	5.0	26,699		7.4	4.0	5.0
Supplementary leverage(6)	46,630		9.0	3.0	N/A	26,699		6.6	3.0	N/A

__________

(1)Capital requirements that are not applicable are denoted by “N/A.”

(2)Common equity Tier 1 capital ratio is a regulatory capital measure calculated based on common equity Tier 1 capital divided by risk-weighted assets.

(3)Tier 1 capital ratio is a regulatory capital measure calculated based on Tier 1 capital divided by risk-weighted assets.

(4)Total capital ratio is a regulatory capital measure calculated based on total capital divided by risk-weighted assets.

(5)Tier 1 leverage ratio is a regulatory capital measure calculated based on Tier 1 capital divided by adjusted average assets.

(6)Supplementary leverage ratio is a regulatory capital measure calculated based on Tier 1 capital divided by total leverage exposure.

On October 1, 2022, COBNA merged with and into CONA, with CONA as the surviving entity. The capital ratios of COBNA immediately prior to the Bank Merger were higher than those of CONA, therefore increasing the capital ratios of CONA immediately after the Bank Merger and as of December 31, 2022. We exceeded the minimum capital requirements and the Bank exceeded the minimum regulatory requirements and was well-capitalized under PCA requirements as of both December 31, 2022 and 2021.

Regulatory restrictions exist that limit the ability of CONA to transfer funds to our BHC. As of December 31, 2022, funds available for dividend payments from the Bank were $3.2 billion. Applicable provisions that may be contained in our borrowing agreements or the borrowing agreements of our subsidiaries may limit our subsidiaries’ ability to pay dividends to us or our ability to pay dividends to our stockholders. There can be no assurance that we will declare and pay any dividends to stockholders.

- Definition

The entire disclosure for regulatory capital requirement for depository and lending institutions. Institutions include, but not are not limited to, finance company, insured depository institution, bank holding company, savings and loan association holding company, bank and savings institution not federally insured, mortgage company, foreign financial institution and credit union.

+ References + Details

Earnings Per Common Share

12 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

Earnings Per Common Share


NOTE 12—EARNINGS PER COMMON SHARE

The following table sets forth the computation of basic and diluted earnings per common share for the years ended December 31, 2022, 2021 and 2020. Dividends and undistributed earnings allocated to participating securities represent the application of the “two-class” method as described in “Note 1—Summary of Significant Accounting Policies.”

Table 12.1: Computation of Basic and Diluted Earnings per Common Share


	Year Ended December 31,
(Dollars and shares in millions, except per share data)		2022		2021		2020
Income from continuing operations, net of tax		$	7,360	$	12,394	$	2,717
Income (loss) from discontinued operations, net of tax		0		(4)		(3)
Net income		7,360		12,390		2,714
Dividends and undistributed earnings allocated to participating securities		(88)		(105)		(20)
Preferred stock dividends		(228)		(274)		(280)
Issuance cost for redeemed preferred stock		0		(46)		(39)
Net income available to common stockholders		$	7,044	$	11,965	$	2,375

Total weighted-average basic common shares outstanding		391.8		442.5		457.8
Effect of dilutive securities:(1)
Stock options		0.3		0.7		0.6
Other contingently issuable shares		1.1		1.0		0.5
Total effect of dilutive securities		1.4		1.7		1.1
Total weighted-average diluted common shares outstanding		393.2		444.2		458.9
Basic earnings per common share:
Net income from continuing operations		$	17.98	$	27.05	$	5.20
Income (loss) from discontinued operations		0.00		(0.01)		(0.01)
Net income per basic common share		$	17.98	$	27.04	$	5.19
Diluted earnings per common share:(1)
Net income from continuing operations		$	17.91	$	26.95	$	5.19
Income (loss) from discontinued operations		0.00		(0.01)		(0.01)
Net income per diluted common share		$	17.91	$	26.94	$	5.18

__________

(1)Excluded from the computation of diluted earnings per share were awards of 24 thousand shares and awards of 26 thousand shares for the years ended December 31, 2022 and 2021, respectively, awards of 6 thousand shares and options of 523 thousand with an exercise price ranging from $63.73 to $86.34 for the year ended December 31, 2020, because their inclusion would be anti-dilutive. There were no anti-dilutive stock options for the years ended December 31, 2022 and 2021.

Stock-Based Compensation Plans

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement [Abstract]

Stock-Based Compensation Plans


NOTE 13—STOCK-BASED COMPENSATION PLANS

Stock Plans

We have one active stock-based compensation plan available for the issuance of shares to employees and directors. As of December 31, 2022, under the Amended and Restated 2004 Stock Incentive plan (“2004 Plan”), we are authorized to issue 67 million common shares in various forms, primarily share-settled RSUs, performance share units (“PSUs”), and non-qualified stock options. Of this amount, approximately 13 million shares remain available for future issuance as of December 31, 2022. The 2004 Plan permits the use of newly issued shares or treasury shares upon the settlement of options and stock-based incentive awards, and we generally settle by issuing new shares.

We also issue cash-settled restricted stock units. These cash-settled units are not counted against the common shares authorized for issuance or available for issuance under the 2004 Plan. Cash-settled units vesting during 2022, 2021 and 2020 resulted in cash payments to associates of $8 million, $7 million and $12 million, respectively. There was no unrecognized compensation cost for unvested cash-settled units as of December 31, 2022.

Total stock-based compensation expense recognized during 2022, 2021 and 2020 was $314 million, $331 million and $203 million, respectively. The total income tax benefit for stock-based compensation recognized during 2022, 2021 and 2020 was $75 million, $62 million and $43 million, respectively.

In addition, we maintain an Associate Stock Purchase Plan (“Purchase Plan”), which is a compensatory plan under the accounting guidance for stock-based compensation. Related to the Purchase Plan, we recognized compensation expense of $36 million, $33 million and $30 million for 2022, 2021 and 2020, respectively. We also maintain a Dividend Reinvestment and Stock Purchase Plan, which allows participating stockholders to purchase additional shares of our common stock through automatic reinvestment of dividends or optional cash investments.

Restricted Stock Units and Performance Share Units

RSUs represent share-settled awards that do not contain performance conditions and are granted to certain employees at no cost to the recipient. RSUs generally vest over three years from the date of grant; however, some RSUs cliff vest on or shortly after the first or third anniversary of the grant date. RSUs are subject to forfeiture until certain restrictions have lapsed, including continued employment for a specified period of time.

PSUs represent share-settled awards that contain performance conditions and are granted to certain employees at no cost to the recipient. PSUs generally vest over three years from the date of grant; however, some PSUs cliff vest on or shortly after the third anniversary of the grant date. The number of PSUs that step vest over three years can be reduced by 50% or 100% depending on whether specific performance goals are met during the vesting period. The number of three-year cliff vesting PSUs that will ultimately vest is contingent upon meeting specific performance goals over a three-year period. These PSUs also include an opportunity to receive from 0% to 150% of the target number of common shares.

A recipient of an RSU or PSU is entitled to receive a share of common stock after the applicable restrictions lapse and is generally entitled to receive cash payments or additional shares of common stock equivalent to any dividends paid on the underlying common stock during the period the RSU or PSU is outstanding, but is not entitled to voting rights. Generally, the value of RSUs and PSUs will equal the fair value of our common stock on the date of grant and the expense is recognized over the vesting period. Certain PSUs have discretionary vesting conditions and are remeasured at fair value each reporting period.

The following table presents a summary of 2022 activity for RSUs and PSUs.

Table 13.1: Summary of Restricted Stock Units and Performance Share Units


	Restricted Stock Units			Performance Share Units(1)
(Shares/units in thousands)	Units	Weighted-Average Grant Date Fair Value per Unit		Units	Weighted-Average Grant Date Fair Value per Unit
Unvested as of January 1, 2022	4,110	$	104.50	1,765	$	102.84
Granted(2)	2,987	141.71		870	139.00
Vested	(1,696)	103.43		(888)	93.37
Forfeited	(345)	132.68		(44)	129.28
Unvested as of December 31, 2022	5,056	$	124.92	1,703	$	125.55

_________

(1)Granted and vested include adjustments for achievement of specific performance goals for performance share units granted in prior periods.

(2)The weighted-average grant date fair value of RSUs was $127.37 and $92.04 in 2021 and 2020, respectively. The weighted-average grant date fair value of PSUs was $112.51 and $100.04 in 2021 and 2020, respectively.

The total fair value of RSUs that vested during 2022, 2021 and 2020 was $248 million, $202 million and $140 million, respectively. The total fair value of PSUs that vested was $127 million, $94 million and $82 million in 2022, 2021 and 2020, respectively. As of December 31, 2022, the unrecognized compensation expense related to unvested RSUs is $372 million, which is expected to be amortized over a weighted-average period of approximately 1.9 years; and the unrecognized compensation related to unvested PSUs was $31 million, which is expected to be amortized over a weighted-average period of approximately one year.

Stock Options

Stock options have a maximum contractual term of 10 years. Generally, the exercise price of stock options will equal the fair market value of our common stock on the date of grant. Option vesting is determined at the time of grant and may be subject to the achievement of any applicable performance conditions. Options generally become exercisable over three years beginning on the first anniversary of the date of grant; however, some option grants cliff vest on or shortly after the first or third anniversary of the grant date.

The following table presents a summary of 2022 activity for stock options and the balance of stock options exercisable as of December 31, 2022.

Table 13.2: Summary of Stock Options Activity


(Shares in thousands, and intrinsic value in millions)	Shares Subject to Options	Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding as of January 1, 2022	875	$	67.92
Granted	0	0.00
Exercised	(334)	56.26
Forfeited	0	0.00
Expired	0	0.00
Outstanding and Exercisable as of December 31, 2022	541	$	75.12	2.80 years	$	10

There were no stock options granted in 2022, 2021 and 2020. The total intrinsic value of stock options exercised during 2022, 2021 and 2020 was $18 million, $80 million and $65 million, respectively.

Employee Benefit Plans

12 Months Ended

Dec. 31, 2022

Retirement Benefits [Abstract]

Employee Benefit Plans


NOTE 14—EMPLOYEE BENEFIT PLANS

Defined Contribution Plan

We sponsor a contributory Associate Savings Plan (the “Plan”) in which all full-time and part-time associates over the age of 18 are eligible to participate. We make non-elective contributions to each eligible associate’s account and match a portion of associate contributions. We also sponsor a voluntary non-qualified deferred compensation plan in which select groups of employees are eligible to participate. We make contributions to this plan based on participants’ deferral of salary, bonuses and other eligible pay. In addition, we match participants’ excess compensation (compensation over the Internal Revenue Service (“IRS”) compensation limit) less deferrals. We contributed a total of $444 million, $378 million and $350 million to these plans during the years ended December 31, 2022, 2021 and 2020, respectively.

Defined Benefit Pension and Other Postretirement Benefit Plans

We sponsor several frozen plans, including a qualified defined benefit pension plan, several non-qualified defined benefit pension plans, and a plan that provides other postretirement benefits, including medical and life insurance coverage. Our pension plans and the other postretirement benefit plan are valued using December 31 as the measurement date each year. Our policy is to amortize prior service amounts on a straight-line basis over the average remaining years of service to full eligibility for benefits of active plan participants.

The following table sets forth, on an aggregated basis, changes in the benefit obligation and plan assets, the funded status and how the funded status is recognized on our consolidated balance sheets.

Table 14.1: Changes in Benefit Obligation and Plan Assets


	Defined Pension Benefits				Other Postretirement Benefits
(Dollars in millions)	2022		2021		2022		2021
Change in benefit obligation:
Accumulated benefit obligation as of January 1,	$	163	$	178	$	16	$	21
Service cost	1		1		0		0
Interest cost	4		4		0		0
Benefits paid	(11)		(12)		(1)		(2)
Actuarial loss (gain)	(29)		(8)		(3)		(3)
Accumulated benefit obligation as of December 31,	$	128	$	163	$	12	$	16
Change in plan assets:
Fair value of plan assets as of January 1,	$	273	$	274	$	6	$	6
Actual return on plan assets	(41)		10		(1)		1
Employer contributions	1		1		1		1
Benefits paid	(11)		(12)		(1)		(2)
Fair value of plan assets as of December 31,	$	222	$	273	$	5	$	6
Over (under) funded status as of December 31,	$	94	$	110	$	(7)	$	(10)


	Defined Pension Benefits				Other Postretirement Benefits
(Dollars in millions)	2022		2021		2022		2021
Balance sheet presentation as of December 31,
Other assets	$	102	$	121	$	0	$	0
Other liabilities	(8)		(11)		(7)		(10)
Net amount recognized as of December 31,	$	94	$	110	$	(7)	$	(10)

Net periodic benefit gain for our defined benefit pension plans and other postretirement benefit plan totaled $8 million, $12 million, and $8 million in 2022, 2021 and 2020, respectively. We recognized a pre-tax loss of $24 million in 2022 and pre-tax gains of $4 million in other comprehensive income for our defined benefit pension plans and other postretirement benefit plan in both 2021 and 2020.

Pre-tax amounts recognized in AOCI that have not yet been recognized as a component of net periodic benefit cost consist of net actuarial losses of $57 million and $33 million for our defined benefit pension plans as of December 31, 2022 and 2021, respectively, and net actuarial gains of $3 million for our other postretirement benefit plan as of both December 31, 2022 and 2021. There was no meaningful prior service cost recognized in AOCI.

Plan Assets and Fair Value Measurement

Plan assets are invested using a total return investment approach whereby a mix of equity securities and debt securities are used to preserve asset values, diversify risk and enhance our ability to achieve our benchmark for long-term investment return. Investment strategies and asset allocations are based on careful consideration of plan liabilities, the plan’s funded status and our financial condition. Investment performance and asset allocation are measured and monitored on a daily basis.

As of December 31, 2022 and 2021, our plan assets totaled $227 million and $279 million, respectively. We invested substantially all our plan assets in common collective trusts, which primarily consist of domestic and international equity securities, government securities and corporate and municipal bonds. Our plan assets were classified as Level 2 in the fair value hierarchy as of December 31, 2022 and 2021. For information on fair value measurements, including descriptions of Level 1, 2 and 3 of the fair value hierarchy, see “Note 16—Fair Value Measurement.”

Expected Future Benefit Payments

As of December 31, 2022, the benefits expected to be paid in the next ten years totaled $108 million for our defined pension benefit plans and $11 million for our other postretirement benefit plan, respectively.

- Definition

The entire disclosure for retirement benefits.

+ References

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+ Details

Income Taxes

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Income Taxes


NOTE 15—INCOME TAXES

The following table presents significant components of the provision for income taxes attributable to continuing operations for the years ended December 31, 2022, 2021 and 2020.

Table 15.1: Significant Components of the Provision for Income Taxes Attributable to Continuing Operations


	Year Ended December 31,
(Dollars in millions)	2022		2021		2020
Current income tax provision:
Federal taxes	$	2,125	$	2,173	$	1,676
State taxes	423		485		370
International taxes	104		152		67
Total current provision	$	2,652	$	2,810	$	2,113
Deferred income tax provision (benefit):
Federal taxes	$	(662)	$	490	$	(1,357)
State taxes	(112)		91		(266)
International taxes	2		24		(4)
Total deferred provision (benefit)	(772)		605		(1,627)
Total income tax provision	$	1,880	$	3,415	$	486

The international income tax provision is related to pre-tax earnings from foreign operations of approximately $462 million, $677 million and $293 million in 2022, 2021 and 2020, respectively.

Total income tax provision does not reflect the tax effects of items that are included in AOCI, which include a tax benefit of $3.2 billion and $985 million in 2022 and 2021, respectively, and tax provision of $702 million in 2020. See “Note 10—Stockholders’ Equity” for additional information.

The following table presents the reconciliation of the U.S. federal statutory income tax rate to the effective income tax rate applicable to income from continuing operations for the years ended December 31, 2022, 2021 and 2020.

Table 15.2: Effective Income Tax Rate


	Year Ended December 31,
	2022		2021		2020
Income tax at U.S. federal statutory tax rate	21.0	%	21.0	%	21.0	%
State taxes, net of federal benefit	3.1		3.1		3.5
Non-deductible expenses	0.6		0.4		3.2
Affordable housing, new markets and other tax credits	(4.2)		(2.3)		(11.4)
Tax-exempt interest and other nontaxable income	(0.4)		(0.3)		(1.7)

Changes in valuation allowance	1.0		0.4		2.3
Other, net	(0.8)		(0.7)		(1.7)
Effective income tax rate	20.3	%	21.6	%	15.2	%

The following table presents significant components of our deferred tax assets and liabilities as of December 31, 2022 and 2021. The valuation allowance below represents the adjustment of our foreign tax credit carryforward, certain state deferred tax assets and net operating loss carryforwards to the amount we have determined is more likely than not to be realized.

Table 15.3: Significant Components of Deferred Tax Assets and Liabilities


(Dollars in millions)	December 31, 2022		December 31, 2021
Deferred tax assets:
Allowance for credit losses	$	3,025	$	2,657
Security and loan valuations	2,497		0
Rewards programs	790		825
Net unrealized loss on derivatives	689		0
Net operating loss and tax credit carryforwards	437		367
Compensation and employee benefits	411		337
Lease liabilities	346		345




Partnership investments	253		238
Other assets	507		359
Subtotal	8,955		5,128
Valuation allowance	(446)		(355)
Total deferred tax assets	8,509		4,773
Deferred tax liabilities:
Right-of-use assets	284		284
Original issue discount	241		361
Partnership investments	119		128
Mortgage servicing rights	95		88
Security and loan valuations	0		49


Net unrealized gains on derivatives	0		32
Other liabilities	111		123
Total deferred tax liabilities	850		1,065
Net deferred tax assets	$	7,659	$	3,708

_________

Our gross federal net operating loss carryforwards were $13 million and $25 million as of December 31, 2022 and 2021, respectively. These operating loss carryforwards were attributable to acquisitions, and none of the $13 million of operating loss carryforwards are subject to expiration. Under IRS rules, our ability to utilize these losses against future income is limited. The net tax values of our state net operating loss carryforwards were $267 million and $258 million as of December 31, 2022 and 2021, respectively, and they will expire from 2023 to 2041. Our foreign tax credit carryforwards were $166 million and $91 million as of December 31, 2022 and 2021, respectively, and they will expire from 2028 to 2032.

Our valuation allowance increased by $91 million to $446 million as of December 31, 2022 compared to $355 million as of December 31, 2021. Of the total increase, $75 million is related to the current year increase in our foreign tax credit carryforwards that will not be realized prior to expiration and $15 million is related to reducing state net operating losses and interest carryforwards to the amount we have determined is more likely than not to be realized.

We recognize accrued interest and penalties related to income taxes as a component of income tax expense. We recognized a $1 million and $30 million tax benefit in 2022 and 2021, respectively, and $16 million of such expense in 2020.

The following table presents the accrued balance of tax, interest and penalties related to unrecognized tax benefits.

Table 15.4: Reconciliation of the Change in Unrecognized Tax Benefits


(Dollars in millions)	Gross Unrecognized Tax Benefits		Accrued Interest and Penalties		Gross Tax, Interest and Penalties
Balance as of January 1, 2020	$	431	$	31	$	462
Additions for tax positions related to the current year	33		0		33
Additions for tax positions related to prior years	3		21		24
Reductions for tax positions related to prior years due to IRS and other settlements	(16)		(6)		(22)
Balance as of December 31, 2020	451		46		497

Additions for tax positions related to prior years	1		4		5
Reductions for tax positions related to prior years due to IRS and other settlements	(47)		(36)		(83)
Balance as of December 31, 2021	405		14		419
Additions for tax positions related to the current year	3		0		3
Additions for tax positions related to prior years	14		6		20
Reductions for tax positions related to prior years due to IRS and other settlements	(381)		(10)		(391)
Balance as of December 31, 2022	$	41	$	10	$	51
Portion of balance at December 31, 2022 that, if recognized, would impact the effective income tax rate	$	32	$	8	$	40

We are subject to examination by the IRS and other tax authorities in certain countries and states in which we operate. The tax years subject to examination vary by jurisdiction. During 2022, we continued to participate in the IRS Compliance Assurance Process (“CAP”) for our open federal income tax return years and have been accepted into CAP for 2023. During 2022, the IRS review of our 2017, 2018, 2019, and 2020 federal income tax returns was completed, with the Company due a net refund of tax and interest and these years are now closed. We expect that the IRS review of our 2021 federal income tax return will be completed in 2023, as only one issue remains under review post-filing. We also expect that the IRS review of our 2022 federal income tax return will be substantially completed in 2023 prior to its filing.

It is reasonably possible that further adjustments to the Company’s unrecognized tax benefits may be made within 12 months of the reporting date as a result of future judicial or regulatory interpretations of existing tax laws. At this time, an estimate of the potential changes to the amount of unrecognized tax benefits cannot be made.

As of December 31, 2022, the Company had approximately $1.7 billion of unremitted earnings of subsidiaries operating outside the U.S. that upon repatriation would have no additional U.S. income taxes. In accordance with the guidance for accounting for income taxes in special areas, nearly all these earnings are considered by management to be invested indefinitely.

As of December 31, 2022, U.S. income taxes of $69 million have not been provided for approximately $287 million of previously acquired thrift bad debt reserves created for tax purposes as of December 31, 1987. These amounts, acquired as a result of previous mergers and acquisitions, are subject to recapture in the unlikely event that CONA, as the successor to the merged and acquired entities, makes distributions in excess of earnings and profits, redeems its stock or liquidates.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Fair Value Measurement

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

Fair Value Measurement


NOTE 16—FAIR VALUE MEASUREMENT

Fair value, also referred to as an exit price, is defined as the price that would be received for an asset or paid to transfer a liability in an orderly transaction between market participants on the measurement date. The fair value accounting guidance provides a three-level fair value hierarchy for classifying financial instruments. This hierarchy is based on the markets in which the assets or liabilities trade and whether the inputs to the valuation techniques used to measure fair value are observable or unobservable. The fair value measurement of a financial asset or liability is assigned a level based on the lowest level of any input that is significant to the fair value measurement in its entirety. The three levels of the fair value hierarchy are described below:


Level 1:						Valuation is based on quoted prices (unadjusted) in active markets for identical assets or liabilities.
Level 2:						Valuation is based on observable market-based inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.
Level 3:						Valuation is generated from techniques that use significant assumptions not observable in the market. Valuation techniques include pricing models, discounted cash flow methodologies or similar techniques.

The accounting guidance for fair value measurements requires that we maximize the use of observable inputs and minimize the use of unobservable inputs in determining fair value. We consider all available information, including observable market data, indications of market liquidity and orderliness, and our understanding of the valuation techniques and significant inputs. Based upon the specific facts and circumstances of each instrument or instrument category, judgments are made regarding the significance of the observable or unobservable inputs to the instruments’ fair value measurement in its entirety. If unobservable inputs are considered significant, the instrument is classified as Level 3. The process for determining fair value using unobservable inputs is generally more subjective and involves a high degree of management judgment and assumptions. The accounting guidance provides for the irrevocable option to elect, on a contract-by-contract basis, to measure certain financial assets and liabilities at fair value at inception of the contract and record any subsequent changes in fair value in earnings.

Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following describes the valuation techniques used in estimating the fair value of our financial assets and liabilities recorded at fair value on a recurring basis. The determination of the leveling of financial instruments in the fair value hierarchy is performed at the end of each reporting period.

Investment Securities

We measure the fair value of our U.S. Treasury securities using quoted prices in active markets. For the majority of securities in other investment categories, we utilize multiple vendor pricing services to obtain fair value measurements. We use a waterfall of pricing vendors determined using our annual assessment of pricing service performance. A pricing service may be considered as the preferred or primary pricing provider depending on how closely aligned its prices are to other vendor prices, and how consistent the prices are with other available market information. The price of each security is confirmed by comparing such price to other vendor prices before it is finalized.

RMBS and CMBS are generally classified as Level 2 or 3. When significant assumptions are not consistently observable, fair values are derived using the best available data. Such data may include quotes provided by dealers, valuation from external pricing services, independent pricing models, or other model-based valuation techniques, for example, calculation of the present values of future cash flows incorporating assumptions such as benchmark yields, spreads, prepayment speeds, credit ratings and losses. Generally, the external pricing services utilize observable market data to the extent available. Pricing models may be used, which can vary by asset class, and may also incorporate available trade, bid and other market information. Across asset classes, information such as trader/dealer inputs, credit spreads, forward curves and prepayment speeds are used to help determine appropriate valuations. Because many fixed income securities do not trade on a daily basis, the pricing models may apply available information through processes such as benchmarking curves, grouping securities based on their characteristics and using matrix pricing to prepare valuations. In addition, model processes are used by the pricing services to develop prepayment assumptions.

We validate the pricing obtained from the primary pricing providers through comparison of pricing to additional sources, including other pricing services, dealer pricing indications in transaction results and other internal sources. Pricing variances among different pricing sources are analyzed. Additionally, on an on-going basis, we request more detailed information from the valuation vendors to understand the pricing methodology and assumptions used to value the securities.

Derivative Assets and Liabilities

We use both exchange-traded and OTC derivatives to manage our interest rate, foreign currency and commodity risk exposures. When quoted market prices are available and used to value our exchange-traded derivatives, we classify them as Level 1. However, the majority of our derivatives do not have readily available quoted market prices. Therefore, we value most of our derivatives using vendor-based models. We primarily rely on market observable inputs for these models, including, for example, interest rate yield curves, credit curves, option volatility and currency rates. These inputs can vary depending on the type of derivatives and nature of the underlying rate, price or index upon which the value of the derivative is based. We typically classify derivatives as Level 2 when significant inputs can be observed in a liquid market and the model itself does not require significant judgment. When instruments are traded in less liquid markets and significant inputs are unobservable, such as interest rate swaps whose remaining terms do not correlate with market observable interest rate yield curves, such derivatives are classified as Level 3. We consider the impact of credit risk valuation adjustments when measuring the fair value of derivative contracts in order to reflect the credit quality of the counterparty and our own credit quality. Our internal pricing is compared against additional pricing sources such as external valuation agents and other internal sources. Pricing variances among different pricing sources are analyzed and validated. These derivatives are included in other assets or other liabilities on our consolidated balance sheets.

Loans Held for Sale

In our commercial business, we originate multifamily commercial real estate loans with the intent to sell them to GSEs. We elect the fair value option for such loans as part of our management of interest rate risk in our multifamily agency business. These held for sale loans are valued based on market observable inputs and are therefore classified as Level 2. Unrealized gains and losses on these loans are recorded in other non-interest income in our consolidated statements of income.

Retained Interests in Securitizations

We have retained interests in various mortgage securitizations from previous acquisitions. Our retained interests primarily include interest-only bonds and negative amortization bonds. We record these retained interests at fair value using market indications and valuation models to calculate the present value of future cash flows. Due to the use of significant unobservable inputs such as prepayment and discount rate assumptions, retained interests in securitizations are classified as Level 3 under the fair value hierarchy.

Deferred Compensation Plan Assets

We offer a voluntary non-qualified deferred compensation plan to eligible associates. In addition to participant deferrals, we make contributions to the plan. Participants invest these contributions in a variety of publicly traded mutual funds. The plan assets, which consist of publicly traded mutual funds, are classified as Level 1.

The following table displays our assets and liabilities measured on our consolidated balance sheets at fair value on a recurring basis as of December 31, 2022 and 2021.

Table 16.1: Assets and Liabilities Measured at Fair Value on a Recurring Basis


	December 31, 2022
	Fair Value Measurements Using						Netting Adjustments(1)
(Dollars in millions)	Level 1		Level 2		Level 3				Total
Assets:
Securities available for sale:
U.S. Treasury securities	$	5,041	$	0	$	0	—		$	5,041
RMBS	0		62,353		236		—		62,589
CMBS	0		7,728		142		—		7,870
Other securities	186		1,233		0		—		1,419
Total securities available for sale	5,227		71,314		378		—		76,919
Loans held for sale	0		191		0		—		191
Other assets:
Derivative assets(2)	474		2,545		79		$	(1,134)	1,964
Other(3)	464		3		36		—		503
Total assets	$	6,165	$	74,053	$	493	$	(1,134)	$	79,577
Liabilities:
Other liabilities:
Derivative liabilities(2)	$	823	$	3,653	$	74	$	(1,235)	$	3,315
Total liabilities	$	823	$	3,653	$	74	$	(1,235)	$	3,315


	December 31, 2021
	Fair Value Measurements Using						Netting Adjustments(1)
(Dollars in millions)	Level 1		Level 2		Level 3				Total
Assets:
Securities available for sale:
U.S. Treasury securities	$	9,442	$	0	$	0	—		$	9,442
RMBS	0		73,358		258		—		73,616
CMBS	0		9,360		9		—		9,369
Other securities	206		2,628		0		—		2,834
Total securities available for sale	9,648		85,346		267		—		95,261
Loans held for sale	0		1,026		0		—		1,026
Other assets:
Derivative assets(2)	406		2,200		84		$	(542)	2,148
Other(3)	526		6		41		—		573
Total assets	$	10,580	$	88,578	$	392	$	(542)	$	99,008
Liabilities:
Other liabilities:
Derivative liabilities(2)	$	838	$	965	$	65	$	(544)	$	1,324
Total liabilities	$	838	$	965	$	65	$	(544)	$	1,324

__________

(1)Represents balance sheet netting of derivative assets and liabilities, and related payables and receivables for cash collateral held or placed with the same counterparty. See “Note 9—Derivative Instruments and Hedging Activities” for additional information.

(2)Does not reflect $4 million and $11 million recognized as a net valuation allowance on derivative assets and liabilities for non-performance risk as of December 31, 2022 and 2021, respectively. Non-performance risk is included in the measurement of derivative assets and liabilities on our consolidated balance sheets, and is recorded through non-interest income in the consolidated statements of income.

(3)As of December 31, 2022 and 2021, other includes retained interests in securitizations of $36 million and $41 million, deferred compensation plan assets of $453 million and $490 million, and equity securities of $14 million (including unrealized losses of $23 million) and $42 million (including unrealized losses of $36 million), respectively.

Level 3 Recurring Fair Value Rollforward

The table below presents a reconciliation for all assets and liabilities measured and recognized at fair value on a recurring basis using significant unobservable inputs (Level 3) for the years ended December 31, 2022, 2021 and 2020. Generally, transfers into Level 3 were primarily driven by the usage of unobservable assumptions in the pricing of these financial instruments as evidenced by wider pricing variations among pricing vendors and transfers out of Level 3 were primarily driven by the usage of assumptions corroborated by market observable information as evidenced by tighter pricing among multiple pricing sources.

Table 16.2: Level 3 Recurring Fair Value Rollforward


	Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
	Year Ended December 31, 2022
			Total Gains (Losses) (Realized/Unrealized)																		Net Unrealized Gains (Losses) Included in Net Income Related to Assets and Liabilities Still Held as of December 31, 2022(1)
(Dollars in millions)	Balance, January 1, 2022		Included in Net Income(1)		Included in OCI		Purchases		Sales		Issuances		Settlements		Transfers Into Level 3		Transfers Out of Level 3		Balance, December 31, 2022
Securities available for sale:(2)
RMBS	$	258	$	18	$	(32)	$	0	$	0	$	0	$	(60)	$	123	$	(71)	$	236	$	10
CMBS	9		(1)		(3)		0		0		0		(15)		190		(38)		142		(1)

Total securities available for sale	267		17		(35)		0		0		0		(75)		313		(109)		378		9
Other assets:

Retained interests in securitizations	41		(5)		0		0		0		0		0		0		0		36		(5)
Net derivative assets (liabilities)(3)	19		(65)		0		0		0		36		3		(28)		40		5		(33)


	Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
	Year Ended December 31, 2021
			Total Gains (Losses) (Realized/Unrealized)																		Net Unrealized Gains (Losses) Included in Net Income Related to Assets and Liabilities Still Held as of December 31, 2021(1)
(Dollars in millions)	Balance, January 1, 2021		Included in Net Income(1)		Included in OCI		Purchases		Sales		Issuances		Settlements		Transfers Into Level 3		Transfers Out of Level 3		Balance, December 31, 2021
Securities available for sale:(2)
RMBS	$	328	$	18	$	5	$	0	$	0	$	0	$	(91)	$	106	$	(108)	$	258	$	15
CMBS	111		0		(2)		0		0		0		(7)		0		(93)		9		0

Total securities available for sale	439		18		3		0		0		0		(98)		106		(201)		267		15
Other assets:

Retained interests in securitizations	55		(14)		0		0		0		0		0		0		0		41		(14)
Net derivative assets (liabilities)(3)	31		(43)		0		0		0		68		(37)		6		(6)		19		(20)


	Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
	Year Ended December 31, 2020
			Total Gains (Losses) (Realized/Unrealized)																		Net Unrealized Gains (Losses) Included in Net Income Related to Assets and Liabilities Still Held as of December 31, 2020(1)
(Dollars in millions)	Balance, January 1, 2020		Included in Net Income(1)		Included in OCI		Purchases		Sales		Issuances		Settlements		Transfers Into Level 3		Transfers Out of Level 3		Balance, December 31, 2020
Securities available for sale:(2)(4)
RMBS	$	433	$	22	$	(19)	$	0	$	0	$	0	$	(72)	$	206	$	(242)	$	328	$	16
CMBS	13		(3)		(9)		0		0		0		(32)		371		(229)		111		0

Total securities available for sale	446		19		(28)		0		0		0		(104)		577		(471)		439		16
Other assets:

Retained interests in securitizations	66		(11)		0		0		0		0		0		0		0		55		(11)
Net derivative assets (liabilities)(3)	26		10		0		0		0		43		(37)		0		(11)		31		10

_________

(1)Realized gains (losses) on securities available for sale are included in net securities gains (losses) and retained interests in securitizations are reported as a component of non-interest income in our consolidated statements of income. Gains (losses) on derivatives are included as a component of net interest income or non-interest income in our consolidated statements of income.

(2)Net unrealized losses included in other comprehensive income related to Level 3 securities available for sale still held as of December 31, 2022 were $57 million. Net unrealized losses included in other comprehensive income related to Level 3 securities available for sale still held as of December 31, 2021 were $4 million. Net unrealized losses included in other comprehensive income related to Level 3 securities available for sale still held as of December 31, 2020 were $21 million.

(3)Includes derivative assets and liabilities of $79 million and $74 million, respectively, as of December 31, 2022 and $84 million and $65 million, respectively, as of December 31, 2021, and $141 million and $110 million, respectively, as of December 31, 2020.

(4)The fair value of RMBS as of January 1, 2020 includes a cumulative adjustment of $4 million from the adoption of the CECL standard.

Significant Level 3 Fair Value Asset and Liability Inputs

Generally, uncertainties in fair value measurements of financial instruments, such as changes in unobservable inputs, may have a significant impact on fair value. Certain of these unobservable inputs will, in isolation, have a directionally consistent impact on the fair value of the instrument for a given change in that input. Alternatively, the fair value of the instrument may move in an opposite direction for a given change in another input. In general, an increase in the discount rate, default rates, loss severity or credit spreads, in isolation, would result in a decrease in the fair value measurement. In addition, an increase in default rates would generally be accompanied by a decrease in recovery rates, slower prepayment rates and an increase in liquidity spreads, and would lead to a decrease in the fair value measurement.

Techniques and Inputs for Level 3 Fair Value Measurements

The following table presents the significant unobservable inputs used to determine the fair values of our Level 3 financial instruments on a recurring basis. We utilize multiple vendor pricing services to obtain fair value for our securities. Several of our vendor pricing services are only able to provide unobservable input information for a limited number of securities due to software licensing restrictions. Other vendor pricing services are able to provide unobservable input information for all securities for which they provide a valuation. As a result, the unobservable input information for the securities available for sale presented below represents a composite summary of all information we are able to obtain. The unobservable input information for all other Level 3 financial instruments is based on the assumptions used in our internal valuation models.

Table 16.3: Quantitative Information about Level 3 Fair Value Measurements

Quantitative Information about Level 3 Fair Value Measurements

(Dollars in millions)

Fair Value at
December 31,
2022

Significant
Valuation
Techniques

Significant
Unobservable
Inputs

Range

Weighted

Average(1)

Securities available for sale:

RMBS

236

Discounted cash flows (vendor pricing)

Yield
Voluntary prepayment rate
Default rate
Loss severity

3-12%

4-20%

0-11%

30-80%

58%

CMBS

142

Discounted cash flows (vendor pricing)

Yield

4-5%

Other assets:

Retained interests in securitizations(2)

Discounted cash flows

Life of receivables (months)
Voluntary prepayment rate
Discount rate
Default rate
Loss severity

30-43

9-18%

4-7%

62-291%

N/A

Net derivative assets (liabilities)

Discounted cash flows

Swap rates

3-4%

Quantitative Information about Level 3 Fair Value Measurements

(Dollars in millions)

Fair Value at
December 31,
2021

Significant
Valuation
Techniques

Significant
Unobservable
Inputs

Range

Weighted

Average(1)

Securities available for sale:

RMBS

258

Discounted cash flows (vendor pricing)

Yield
Voluntary prepayment rate
Default rate
Loss severity

0-21%

5-40%

1-11%

30-100%

11%

65%

CMBS

Discounted cash flows (vendor pricing)

Yield

1-2%

Other assets:

Retained interests in securitizations(2)

Discounted cash flows

Life of receivables (months)
Voluntary prepayment rate
Discount rate
Default rate
Loss severity

29-36

9-18%

2-8%

3-4%

72-151%

N/A

Net derivative assets (liabilities)

Discounted cash flows

Swap rates

1-2%

__________

(1)Weighted averages are calculated by using the product of the input multiplied by the relative fair value of the instruments.

(2)Due to the nature of the various mortgage securitization structures in which we have retained interests, it is not meaningful to present a consolidated weighted average for the significant unobservable inputs.

Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis

We are required to measure and recognize certain assets at fair value on a nonrecurring basis on the consolidated balance sheets. These assets are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances (for example, from the application of lower of cost or fair value accounting or when we evaluate for impairment). The following describes the valuation techniques used in estimating the fair value of our financial assets and liabilities recorded at fair value on a nonrecurring basis.

Net Loans Held for Investment

Loans held for investment that are recorded at fair value on our consolidated balance sheets on a nonrecurring basis largely consist of impaired loans for which impairment is measured based upon the fair value of the underlying collateral. The fair value is determined using appraisal values that are obtained from independent appraisers, broker pricing opinions or other available market information, adjusted for the estimated cost to sell. Due to the use of significant unobservable inputs, these

loans are classified as Level 3 under the fair value hierarchy. Fair value adjustments for individually impaired collateralized loans held for investment are recorded in provision for credit losses in the consolidated statements of income.

Loans Held for Sale

Loans held for sale for which we have not elected the fair value option are carried at the lower of aggregate cost, net of deferred fees and deferred origination costs, or fair value. These loans held for sale are valued based on market observable inputs and are therefore classified as Level 2. Fair value adjustments to these loans are recorded in other non-interest income in our consolidated statements of income.

Other Assets

Other assets subject to nonrecurring fair value measurements include equity investments accounted for under the measurement alternative, other repossessed assets and long-lived assets held for sale. The assets held for sale are carried at the lower of the carrying amount or fair value less costs to sell. The fair value is determined based on the appraisal value, listing price of the property or collateral provided by independent appraisers, and is adjusted for the estimated costs to sell. Due to the use of significant unobservable inputs, these assets are classified as Level 3 under the fair value hierarchy. Fair value adjustments for these assets are recorded in other non-interest expense in the consolidated statements of income.

The following table presents the carrying value of the assets measured at fair value on a nonrecurring basis and still held as of December 31, 2022 and 2021, and for which a nonrecurring fair value measurement was recorded during the year then ended.

Table 16.4: Nonrecurring Fair Value Measurements


	December 31, 2022
	Estimated Fair Value Hierarchy				Total
(Dollars in millions)	Level 2		Level 3
Loans held for investment	$	0	$	284	$	284
Loans held for sale	11		0		11
Other assets(1)	0		220		220
Total	$	11	$	504	$	515


	December 31, 2021
	Estimated Fair Value Hierarchy				Total
(Dollars in millions)	Level 2		Level 3
Loans held for investment	$	0	$	194	$	194
Loans held for sale	118		0		118
Other assets(1)	0		325		325
Total	$	118	$	519	$	637

__________

(1)As of December 31, 2022, other assets included investments accounted for under measurement alternative of $4 million, cost method investments of $3 million, repossessed assets of $55 million and long-lived assets held for sale and right-of-use assets totaling $158 million. As of December 31, 2021, other assets included equity method investments of $50 million, investments accounted for under measurement alternative of $29 million, repossessed assets of $40 million and long-lived assets held for sale and right-of-use assets totaling $206 million.

In the above table, loans held for investment are generally valued based in part on the estimated fair value of the underlying collateral and the non-recoverable rate, which is considered to be a significant unobservable input. The non-recoverable rate ranged from 0% to 43%, with a weighted average of 20%, and from 0% to 100%, with a weighted average of 13%, as of December 31, 2022 and 2021, respectively. The weighted average non-recoverable rate is calculated based on the estimated market value of the underlying collateral. The significant unobservable inputs and related quantitative information related to fair value of the other assets are not meaningful to disclose as they vary significantly across properties and collateral.

The following table presents total nonrecurring fair value measurements for the period, included in earnings, attributable to the change in fair value relating to assets that are still held at December 31, 2022 and 2021.

Table 16.5: Nonrecurring Fair Value Measurements Included in Earnings


	Total Gains (Losses)
	Year Ended December 31,
(Dollars in millions)	2022		2021
Loans held for investment	$	30	$	2

Other assets(1)	(38)		(72)
Total	$	(8)	$	(70)

__________

(1)Other assets include fair value adjustments related to repossessed assets, long-lived assets held for sale and right-of-use assets, and equity investments accounted for under the measurement alternative.

Fair Value of Financial Instruments

The following table presents the carrying value and estimated fair value, including the level within the fair value hierarchy, of our financial instruments that are not measured at fair value on a recurring basis on our consolidated balance sheets as of December 31, 2022 and 2021.

Table 16.6: Fair Value of Financial Instruments


	December 31, 2022
	Carrying Value		Estimated Fair Value		Estimated Fair Value Hierarchy
(Dollars in millions)					Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	30,856	$	30,856	$	5,193	$	25,663	$	0
Restricted cash for securitization investors	400		400		400		0		0

Net loans held for investment	299,091		302,920		0		0		302,920
Loans held for sale	11		11		0		11		0
Interest receivable	2,104		2,104		0		2,104		0
Other investments(1)	1,326		1,326		0		1,326		0
Financial liabilities:
Deposits with defined maturities	45,858		45,531		0		45,531		0
Securitized debt obligations	16,973		16,918		0		16,918		0
Senior and subordinated notes	30,826		30,744		0		30,744		0
Federal funds purchased and securities loaned or sold under agreements to repurchase	883		883		0		883		0

Interest payable	527		527		0		527		0


	December 31, 2021
	Carrying Value		Estimated Fair Value		Estimated Fair Value Hierarchy
(Dollars in millions)					Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	21,746	$	21,746	$	4,164	$	17,582	$	0
Restricted cash for securitization investors	308		308		308		0		0
Net loans held for investment	265,910		270,508		0		0		270,508
Loans held for sale	4,862		5,091		0		5,091		0
Interest receivable	1,460		1,460		0		1,460		0
Other investments(1)	1,344		1,344		0		1,344		0
Financial liabilities:
Deposits with defined maturities	17,923		18,062		0		18,062		0
Securitized debt obligations	14,994		15,122		0		15,122		0
Senior and subordinated notes	27,219		27,842		0		27,842		0
Federal funds purchased and securities loaned or sold under agreements to repurchase	820		820		0		820		0

Interest payable	281		281		0		281		0

__________

(1)Other investments include FHLB and Federal Reserve stock. These investments are included in other assets on our consolidated balance sheets.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Business Segments and Revenue from Contracts with Customers

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

Business Segments and Revenue from Contracts with Customers


NOTE 17—BUSINESS SEGMENTS AND REVENUE FROM CONTRACTS WITH CUSTOMERS

Our principal operations are organized into three major business segments, which are defined primarily based on the products and services provided or the types of customers served: Credit Card, Consumer Banking and Commercial Banking. The operations of acquired businesses have been integrated into or managed as a part of our existing business segments. Certain activities that are not part of a segment, such as management of our corporate investment portfolio, asset/liability management by our centralized Corporate Treasury group and residual tax expense or benefit to arrive at the consolidated effective tax rate that is not assessed to our primary business segments, are included in the Other category.

•Credit Card: Consists of our domestic consumer and small business card lending, and international card businesses in the United Kingdom and Canada.

•Consumer Banking: Consists of our deposit gathering and lending activities for consumers and small businesses, and national auto lending.

•Commercial Banking: Consists of our lending, deposit gathering, capital markets and treasury management services to commercial real estate and commercial and industrial customers. Our customers typically include companies with annual revenues between $20 million and $2 billion.

•Other category: Includes the residual impact of the allocation of our centralized Corporate Treasury group activities, such as management of our corporate investment portfolio, asset/liability management and oversight of our funds transfer pricing process, to our business segments. Accordingly, net gains and losses on our investment securities portfolio and certain trading activities are included in the Other category. Other category also includes foreign exchange-rate fluctuations on foreign currency-denominated transactions; unallocated corporate expenses that do not directly support the operations of the business segments or for which the business segments are not considered financially accountable in evaluating their performance, such as certain restructuring charges; certain material items that are non-recurring in nature; offsets related to certain line-item reclassifications; and residual tax expense or benefit to arrive at the consolidated effective tax rate that is not assessed to our primary business segments.

Basis of Presentation

We report the results of each of our business segments on a continuing operations basis. The results of our individual businesses reflect the manner in which management evaluates performance and makes decisions about funding our operations and allocating resources.

Business Segment Reporting Methodology

The results of our business segments are intended to present each segment as if it were a stand-alone business. Our internal management and reporting process used to derive our segment results employs various allocation methodologies, including funds transfer pricing, to assign certain balance sheet assets, deposits and other liabilities and their related revenue and expenses directly or indirectly attributable to each business segment. Our funds transfer pricing process managed by our centralized Corporate Treasury group provides a funds credit for sources of funds, such as deposits generated by our Consumer Banking and Commercial Banking businesses, and a charge for the use of funds by each segment. The allocation is unique to each business segment and acquired business and is based on the composition of assets and liabilities. The funds transfer pricing process considers the interest rate and liquidity risk characteristics of assets and liabilities and off-balance sheet products. Periodically the methodology and assumptions utilized in the funds transfer pricing process are adjusted to reflect economic conditions and other factors, which may impact the allocation of net interest income to the business segments. Due to the integrated nature of our business segments, estimates and judgments have been made in allocating certain revenue and expense items. Transactions between segments are based on specific criteria or approximate market rate. We regularly assess the assumptions, methodologies and reporting classifications used for segment reporting, which may result in the implementation of refinements or changes in future periods.

The following is additional information on the principles and methodologies used in preparing our business segment results.

•Net interest income: Interest income from loans held for investment and interest expense from deposits and other interest-bearing liabilities are reflected within each applicable business segment. Because funding and asset/liability

management are managed centrally by our Corporate Treasury group, net interest income for our business segments also includes the results of a funds transfer pricing process that is intended to allocate a cost of funds used or credit for funds provided to all business segment assets and liabilities, respectively, using a matched funding concept. The taxable-equivalent benefit of tax-exempt products is also allocated to each business unit with a corresponding increase in income tax expense.

•Non-interest income: Non-interest fees and other revenue associated with loans or customers managed by each business segment and other direct revenues are accounted for within each business segment.

•Provision for credit losses: The provision for credit losses is directly attributable to the business segment in accordance with the loans each business segment manages.

•Non-interest expense: Non-interest expenses directly managed and incurred by a business segment are accounted for within each business segment. We allocate certain non-interest expenses indirectly incurred by business segments, such as corporate support functions, to each business segment based on various factors, including the actual cost of the services from the service providers, the utilization of the services, the number of employees or other relevant factors.

•Goodwill and other intangible assets: Goodwill and other intangible assets are assigned to one or more segments at acquisition. Intangible amortization is included in the results of the applicable segment.

•Income taxes: Income taxes are assessed for each business segment based on a standard tax rate with the residual tax expense or benefit to arrive at the consolidated effective tax rate included in the Other category.

•Loans held for investment: Loans are reported within each business segment based on product or customer type served by that business segment.

•Deposits: Deposits are reported within each business segment based on product or customer type served by that business segment.

Segment Results and Reconciliation

We may periodically change our business segments or reclassify business segment results based on modifications to our management reporting methodologies or changes in organizational alignment. The following table presents our business segment results for the years ended December 31, 2022, 2021 and 2020, selected balance sheet data as of December 31, 2022 and 2021, and a reconciliation of our total business segment results to our reported consolidated income from continuing operations, loans held for investment and deposits.

Table 17.1: Segment Results and Reconciliation


	Year Ended December 31, 2022
(Dollars in millions)	Credit Card		Consumer Banking		Commercial Banking(1)		Other(1)		Consolidated Total
Net interest income (loss)	$	16,584	$	8,965	$	2,461	$	(896)	$	27,114
Non-interest income (loss)	5,771		469		1,129		(233)		7,136
Total net revenue (loss)(2)	22,355		9,434		3,590		(1,129)		34,250
Provision (benefit) for credit losses	4,265		1,173		415		(6)		5,847
Non-interest expense	11,627		5,312		2,070		154		19,163
Income (loss) from continuing operations before income taxes	6,463		2,949		1,105		(1,277)		9,240
Income tax provision (benefit)	1,536		699		262		(617)		1,880
Income (loss) from continuing operations, net of tax	$	4,927	$	2,250	$	843	$	(660)	$	7,360
Loans held for investment	$	137,730	$	79,925	$	94,676	$	0	$	312,331
Deposits	0		270,592		40,808		21,592		332,992


	Year Ended December 31, 2021
(Dollars in millions)	Credit Card		Consumer Banking		Commercial Banking(1)		Other(1)		Consolidated Total
Net interest income (loss)	$	14,074	$	8,448	$	2,153	$	(504)	$	24,171
Non-interest income (loss)	4,806		554		1,148		(244)		6,264
Total net revenue (loss)(2)	18,880		9,002		3,301		(748)		30,435
Benefit for credit losses	(902)		(521)		(519)		(2)		(1,944)
Non-interest expense	9,621		4,711		1,815		423		16,570
Income (loss) from continuing operations before income taxes	10,161		4,812		2,005		(1,169)		15,809
Income tax provision (benefit)	2,403		1,136		473		(597)		3,415
Income (loss) from continuing operations, net of tax	$	7,758	$	3,676	$	1,532	$	(572)	$	12,394
Loans held for investment	$	114,772	$	77,646	$	84,922	$	0	$	277,340
Deposits	0		256,407		44,809		9,764		310,980


	Year Ended December 31, 2020
(Dollars in millions)	Credit Card		Consumer Banking		Commercial Banking(1)		Other(1)		Consolidated Total
Net interest income (loss)	$	13,776	$	7,238	$	2,048	$	(149)	$	22,913
Non-interest income	3,823		466		923		398		5,610
Total net revenue(2)	17,599		7,704		2,971		249		28,523
Provision for credit losses	7,327		1,753		1,181		3		10,264
Non-interest expense	8,491		4,159		1,706		700		15,056
Income (loss) from continuing operations before income taxes	1,781		1,792		84		(454)		3,203
Income tax provision (benefit)	420		425		19		(378)		486
Income (loss) from continuing operations, net of tax	$	1,361	$	1,367	$	65	$	(76)	$	2,717
Loans held for investment	$	106,956	$	68,888	$	75,780	$	0	$	251,624
Deposits	0		249,815		39,590		16,037		305,442

__________

(1)Some of our commercial investments generate tax-exempt income, tax credits or other tax benefits. Accordingly, we present our Commercial Banking revenue and yields on a taxable-equivalent basis, calculated using the federal statutory tax rate of 21% and state taxes where applicable, with offsetting reductions to the Other category.

(2)Total net revenue was reduced by $946 million, $629 million and $1.1 billion for the years ended December 31, 2022, 2021 and 2020, respectively, for credit card finance charges and fees charged off as uncollectible.

Revenue from Contracts with Customers

The majority of our revenue from contracts with customers consists of interchange fees, service charges and other customer-related fees, and other contract revenue. Interchange fees are primarily from our Credit Card business and are recognized upon settlement with the interchange networks, net of rewards earned by customers. Service charges and other customer-related fees within our Consumer Banking business are primarily related to fees earned on consumer deposit accounts for account maintenance and various transaction-based services such as automated teller machine (“ATM”) usage. Service charges and other customer-related fees within our Commercial Banking business are mostly related to fees earned on treasury management and capital markets services. Other contract revenue in our Credit Card business consists primarily of revenue from our partnership arrangements. Other contract revenue in our Consumer Banking business consists primarily of revenue earned on certain marketing and promotional events from our auto dealers. Revenue from contracts with customers is included in non-interest income in our consolidated statements of income.

The following table presents revenue from contracts with customers and a reconciliation to non-interest income by business segment for the years ended December 31, 2022, 2021 and 2020.

Table 17.2: Revenue from Contracts with Customers and Reconciliation to Segment Results


	Year Ended December 31, 2022
(Dollars in millions)	Credit Card		Consumer Banking		Commercial Banking(1)		Other(1)		Consolidated Total
Contract revenue:
Interchange fees, net(2)	$	4,178	$	320	$	109	$	(1)	$	4,606
Service charges and other customer-related fees	0		91		236		0		327
Other	395		74		16		(1)		484
Total contract revenue (loss)	4,573		485		361		(2)		5,417
Revenue (reduction) from other sources	1,198		(16)		768		(231)		1,719
Total non-interest income (loss)	$	5,771	$	469	$	1,129	$	(233)	$	7,136


	Year Ended December 31, 2021
(Dollars in millions)	Credit Card		Consumer Banking		Commercial Banking(1)		Other(1)		Consolidated Total
Contract revenue:
Interchange fees, net(2)	$	3,497	$	267	$	96	$	0	$	3,860
Service charges and other customer-related fees	0		171		287		(1)		457
Other	383		75		5		0		463
Total contract revenue (loss)	3,880		513		388		(1)		4,780
Revenue (reduction) from other sources	926		41		760		(243)		1,484
Total non-interest income (loss)	$	4,806	$	554	$	1,148	$	(244)	$	6,264


	Year Ended December 31, 2020
(Dollars in millions)	Credit Card		Consumer Banking		Commercial Banking(1)		Other(1)		Consolidated Total
Contract revenue:
Interchange fees, net(2)	$	2,747	$	209	$	63	$	(2)	$	3,017
Service charges and other customer-related fees	0		188		175		(1)		362
Other	315		39		4		0		358
Total contract revenue (loss)	3,062		436		242		(3)		3,737
Revenue from other sources	761		30		681		401		1,873
Total non-interest income	$	3,823	$	466	$	923	$	398	$	5,610

__________

(2)Interchange fees are presented net of customer reward expenses of $7.6 billion, $6.4 billion and $4.9 billion for the years ended December 31, 2022, 2021 and 2020, respectively.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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+ Details

Commitments, Contingencies, Guarantees, and Others

12 Months Ended

Dec. 31, 2022

Commitments and Contingencies Disclosure [Abstract]

Commitments, Contingencies, Guarantees and Others


NOTE 18—COMMITMENTS, CONTINGENCIES, GUARANTEES AND OTHERS

Commitments to Lend

Our unfunded lending commitments primarily consist of credit card lines, loan commitments to customers of both our Commercial Banking and Consumer Banking businesses, as well as standby and commercial letters of credit. These commitments, other than credit card lines and certain other unconditionally cancellable lines of credit, are legally binding conditional agreements that have fixed expirations or termination dates and specified interest rates and purposes. The contractual amount of these commitments represents the maximum possible credit risk to us should the counterparty draw upon the commitment. We generally manage the potential risk of unfunded lending commitments by limiting the total amount of arrangements, monitoring the size and maturity structure of these portfolios and applying the same credit standards for all of our credit activities.

For unused credit card lines, we have not experienced and do not anticipate that all of our customers will access their entire available line at any given point in time. Commitments to extend credit other than credit card lines generally require customers to maintain certain credit standards. Collateral requirements and loan-to-value (“LTV”) ratios are the same as those for funded transactions and are established based on management’s credit assessment of the customer. These commitments may expire without being drawn upon; therefore, the total commitment amount does not necessarily represent future funding requirements.

We also issue letters of credit, such as financial standby, performance standby and commercial letters of credit, to meet the financing needs of our customers. Standby letters of credit are conditional commitments issued by us to guarantee the performance of a customer to a third party in a borrowing arrangement. Commercial letters of credit are short-term commitments issued primarily to facilitate trade finance activities for customers and are generally collateralized by the goods being shipped to the customer. These collateral requirements are similar to those for funded transactions and are established based on management’s credit assessment of the customer. Management conducts regular reviews of all outstanding letters of credit and the results of these reviews are considered in assessing the adequacy of reserves for unfunded lending commitments.

The following table presents the contractual amount and carrying value of our unfunded lending commitments as of December 31, 2022 and 2021. The carrying value represents our reserve and deferred revenue on legally binding commitments.

Table 18.1: Unfunded Lending Commitments


	Contractual Amount				Carrying Value
(Dollars in millions)	December 31, 2022		December 31, 2021		December 31, 2022		December 31, 2021
Credit card lines	$	359,507	$	368,508	N/A		N/A
Other loan commitments(1)	48,405		44,572		$	176	$	125
Standby letters of credit and commercial letters of credit(2)	1,402		1,419		28		24
Total unfunded lending commitments	$	409,314	$	414,499	$	204	$	149

__________

(1)Includes $4.4 billion and $3.9 billion of advised lines of credit as of December 31, 2022 and 2021, respectively.

(2)These financial guarantees have expiration dates that range from 2022 to 2027 as of December 31, 2022.

Loss Sharing Agreements

Within our Commercial Banking business, we originate multifamily commercial real estate loans with the intent to sell them to the GSEs. We enter into loss sharing agreements with the GSEs upon the sale of these originated loans. Beginning January 1, 2020, we elected the fair value option on new loss sharing agreements entered into. Unrealized gains and losses are recorded in other non-interest income in our consolidated statements of income. For those loss sharing agreements entered into as of and prior to December 31, 2019, we amortize the liability recorded at inception into non-interest income as we are released from risk of having to make a payment and record our estimate of expected credit losses each period in provision for credit losses in our consolidated statements of income. The liability recognized on our consolidated balance sheets for these loss sharing agreements was $82 million and $90 million as of December 31, 2022 and 2021, respectively. See “Note 4—Allowance for Credit Losses and Reserve for Unfunded Lending Commitments” for more information related to our credit card partnership loss sharing arrangements.

Litigation

In accordance with the current accounting standards for loss contingencies, we establish reserves for litigation-related matters that arise from the ordinary course of our business activities when it is probable that a loss associated with a claim or proceeding has been incurred and the amount of the loss can be reasonably estimated. None of the amounts we currently have recorded individually or in the aggregate are considered to be material to our financial condition. Litigation claims and proceedings of all types are subject to many uncertain factors that generally cannot be predicted with assurance. Below we provide a description of potentially material legal proceedings and claims.

For some of the matters disclosed below, we are able to estimate reasonably possible losses above existing reserves, and for other disclosed matters, such an estimate is not possible at this time. For those matters below where an estimate is possible, management currently estimates the reasonably possible future losses beyond our reserves as of December 31, 2022 are approximately $200 million. Our reserve and reasonably possible loss estimates involve considerable judgment and reflect that there is still significant uncertainty regarding numerous factors that may impact the ultimate loss levels. Notwithstanding, our attempt to estimate a reasonably possible range of loss beyond our current accrual levels for some litigation matters based on current information, it is possible that actual future losses will exceed both the current accrual level and the range of reasonably possible losses disclosed here. Given the inherent uncertainties involved in these matters, especially those involving governmental agencies, and the very large or indeterminate damages sought in some of these matters, there is significant uncertainty as to the ultimate liability we may incur from these litigation matters and an adverse outcome in one or more of these matters could be material to our results of operations or cash flows for any particular reporting period.

Interchange

In 2005, a putative class of retail merchants filed antitrust lawsuits against MasterCard and Visa and several issuing banks, including Capital One, seeking both injunctive relief and monetary damages for an alleged conspiracy by defendants to fix the level of interchange fees. Other merchants have asserted similar claims in separate lawsuits, and while these separate cases did not name any issuing banks, Visa, MasterCard and issuers, including Capital One, have entered settlement and judgment sharing agreements allocating the liabilities of any judgment or settlement arising from all interchange-related cases.

The lawsuits were consolidated before the U.S. District Court for the Eastern District of New York for certain purposes and were settled in 2012. The class settlement, however, was invalidated by the United States Court of Appeals for the Second Circuit in June 2016, and the suit was bifurcated into separate class actions seeking injunctive and monetary relief, respectively. In addition, numerous merchant groups opted out of the 2012 settlement and have pursued their own claims. The claims by the injunctive relief class have not been resolved, but the settlement of $5.5 billion for the monetary damages class received final approval from the trial court, and has been appealed to the U.S. Court of Appeals for the Second Circuit. Visa and MasterCard have also settled a number of the opt-out cases, which required non-material payments from issuing banks, including Capital One. Visa created a litigation escrow account following its initial public offering of stock in 2008 that funds settlements for its member banks, and any settlements related to MasterCard-allocated losses have either already been paid or are reflected in our reserves.

Cybersecurity Incident

On July 29, 2019, we announced that on March 22 and 23, 2019 an outside individual gained unauthorized access to our systems. This individual obtained certain types of personal information relating to people who had applied for our credit card products and to our credit card customers (the “Cybersecurity Incident”). As a result of the Cybersecurity Incident, we are subject to numerous legal proceedings and other inquiries and could be the subject of additional proceedings and inquiries in the future.

Consumer class actions. We were named as a defendant in approximately 75 putative consumer class action cases (primarily in U.S. courts with cases also in Canadian courts) alleging harm from the Cybersecurity Incident and seeking various remedies, including monetary and injunctive relief. The lawsuits allege breach of contract, negligence, violations of various privacy laws and a variety of other legal causes of action. The U.S. consumer class actions were consolidated for pretrial proceedings before a multi-district litigation (“MDL”) panel in the U.S. District Court for the Eastern District of Virginia, Alexandria Division. In the fourth quarter of 2021, the parties agreed to a settlement of the U.S. consumer class action cases for an amount within existing reserves. The MDL court approved the settlement in September 2022, and the approval became final in the fourth quarter of 2022. The balance of the settlement was paid after the court approval became final in the fourth quarter of 2022, and the U.S. consumer class action is now concluded. Capital One maintained cyber insurance that covered this settlement. In

Canada, a trial court in British Columbia preliminarily certified a class of all impacted Canadian consumers except those in Quebec in the second quarter of 2022, which would allow the case to proceed with discovery on a classwide basis under Canadian law. The preliminary certification decision has been appealed.

Securities class action. The Company and certain officers were also named as defendants in a putative class action pending in the MDL alleging violations of certain federal securities laws in connection with statements and alleged omissions in securities filings relating to our information security standards and practices. The complaint sought certification of a class of all persons who purchased or otherwise acquired Capital One securities from July 23, 2015 to July 29, 2019, as well as unspecified monetary damages, costs and other relief. The MDL court granted the Company’s motion to dismiss in September 2022, and the dismissal became final in the fourth quarter of 2022. The securities class action is now concluded.

Governmental inquiries. We have received inquiries and requests for information relating to the Cybersecurity Incident from Congress, federal regulators, relevant Canadian regulators, the Department of Justice, and the offices of approximately fourteen state Attorneys General. We have cooperated with these offices and responded to their inquiries.

In August 2020, we entered into consent orders with the Federal Reserve and OCC resulting from regulatory reviews of the Cybersecurity Incident and relating to ongoing enhancements of our cybersecurity and operational risk management processes. We paid an $80 million penalty to the U.S. Treasury as part of the OCC agreement. The Federal Reserve agreement did not contain a monetary penalty. The OCC lifted its consent order on August 31, 2022.

U.K. PPI Litigation

In the U.K., we previously sold payment protection insurance (“PPI”). For several years leading up to the claims submission deadline of August 29, 2019 (as set by the U.K. Financial Conduct Authority), we received customer complaints and regulatory claims relating to PPI. COEP has materially resolved the PPI complaints and regulatory claims received prior to the deadline. Some of the claimants in the U.K. PPI regulatory claims process have subsequently initiated legal proceedings, seeking additional redress. We are responding to these proceedings as we receive them.

Other Pending and Threatened Litigation

In addition, we are commonly subject to various pending and threatened legal actions relating to the conduct of our normal business activities. In the opinion of management, the ultimate aggregate liability, if any, arising out of all such other pending or threatened legal actions is not expected to be material to our consolidated financial position or our results of operations.

Capital One Financial Corporation (Parent Company Only)

12 Months Ended

Dec. 31, 2022

Condensed Financial Information Disclosure [Abstract]

Capital One Financial Corporation (Parent Company Only)


NOTE 19—CAPITAL ONE FINANCIAL CORPORATION (PARENT COMPANY ONLY)

Financial Information

The following parent company only financial statements are prepared in accordance with Regulation S-X of the U.S. Securities and Exchange Commission (“SEC”).

Table 19.1: Parent Company Statements of Income


	Year Ended December 31,
(Dollars in millions)	2022		2021		2020
Interest income	$	595	$	151	$	186
Interest expense	969		392		510
Benefit for Credit Losses	(1)		(1)		0
Dividends from subsidiaries	4,352		13,970		3,003
Non-interest income (loss)	(15)		(26)		(127)
Non-interest expense	35		36		33
Income before income taxes and equity in undistributed earnings of subsidiaries	3,929		13,668		2,519
Income tax benefit	(181)		(82)		(93)
Equity in undistributed earnings of subsidiaries	3,250		(1,360)		102
Net income	7,360		12,390		2,714
Other comprehensive income (loss), net of tax	(10,290)		(3,120)		2,346
Comprehensive income	$	(2,930)	$	9,270	$	5,060

Table 19.2: Parent Company Balance Sheets


(Dollars in millions)	December 31, 2022		December 31, 2021
Assets:
Cash and cash equivalents	$	22,006	$	16,910
Investments in subsidiaries	50,523		57,600
Loans to subsidiaries	6,710		7,849
Securities available for sale	395		513
Other assets	2,281		1,330
Total assets	$	81,915	$	84,202

Liabilities:
Senior and subordinated notes	$	28,970	$	23,017

Accrued expenses and other liabilities	363		156
Total liabilities	29,333		23,173
Total stockholders’ equity	52,582		61,029
Total liabilities and stockholders’ equity	$	81,915	$	84,202

Table 19.3: Parent Company Statements of Cash Flows


	Year Ended December 31,
(Dollars in millions)	2022		2021		2020
Operating activities:
Net income	$	7,360	$	12,390	$	2,714
Adjustments to reconcile net income to net cash from operating activities:
Equity in undistributed earnings of subsidiaries	(3,250)		1,360		(102)
Other operating activities	(2,429)		(4,523)		1,217
Net cash from operating activities	1,681		9,227		3,829
Investing activities:
Changes in investments in subsidiaries	0		3,521		(217)
Proceeds from paydowns and maturities of securities available for sale	96		141		117
Purchases of securities available for sale	(10)		—		—
Changes in loans to subsidiaries	1,139		(1,925)		(2,019)
Net cash from investing activities	1,225		1,737		(2,119)
Financing activities:
Borrowings:

Issuance of senior and subordinated notes	9,271		4,487		1,991
Maturities and paydowns of senior and subordinated notes	(1,250)		(2,750)		(2,900)
Common stock:
Net proceeds from issuances	276		253		241
Dividends paid	(950)		(1,148)		(460)
Preferred stock:
Net proceeds from issuances	0		2,052		1,330
Dividends paid	(228)		(274)		(280)
Redemptions	0		(2,100)		(1,375)
Purchases of treasury stock	(4,948)		(7,605)		(393)
Proceeds from share-based payment activities	19		55		62
Net cash from financing activities	2,190		(7,030)		(1,784)
Changes in cash and cash equivalents	5,096		3,934		(74)
Cash and cash equivalents, beginning of the period	16,910		12,976		13,050
Cash and cash equivalents, end of the period	$	22,006	$	16,910	$	12,976

Related Party Disclosures

12 Months Ended

Dec. 31, 2022

Related Party Transactions


NOTE 20—RELATED PARTY TRANSACTIONS

In the ordinary course of business, we may have loans issued to our executive officers, directors and principal stockholders. Pursuant to our policy, such loans are issued on the same terms as those prevailing at the time for comparable loans to unrelated persons and do not involve more than the normal risk of collectability.

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

Basis of Presentation

The accompanying consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the U.S. (“U.S. GAAP”).

Use of Estimates

The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and in the related disclosures. These estimates are based on information available as of the date of the consolidated financial statements. While management makes its best judgments, actual amounts or results could differ from these estimates.

Principles of Consolidation

Voting Interest Entities

Variable Interest Entities

Balance Sheet Offsetting of Financial Assets and Liabilities

Cash and Cash Equivalents

Securities Resale and Repurchase Agreements

Investment Securities

Allowance for Credit Losses

Allowance for Credit Losses - Available for Sale Investment Securities

Allowance for Credit Losses - Loans Held for Investment

Off-balance sheet credit exposures

Loans

Loan Classification

Loans Held for Investment

Loans Held for Sale

Loans Acquired

Loan Modifications and Restructurings

Delinquent and Nonperforming Loans

Nonperforming loans generally include loans that have been placed on nonaccrual status. Loans classified as held for sale are excluded from nonperforming classification consideration.

Our policies for classifying loans as nonperforming, by loan category, are as follows:

Charge-Offs

•Commercial banking loans: We charge off commercial loans in the period we determine that the amortized cost basis is uncollectible.

Securitization of Loans

Premises and Equipment


Premises and Equipment						Useful Lives
Buildings and improvements						5-39 years
Furniture and equipment						3-10 years
Computer software						3 years
Leasehold improvements						Lesser of the useful life or the remaining lease term

Leases

Goodwill and Other Intangible Assets

Mortgage Servicing Rights

Foreclosed Property and Repossessed Asset

Restricted Equity Investments

Litigation

Customer Rewards Reserve

Revenue Recognition

Interest Income and Fees

Interest income and fees on loans and investment securities are recognized based on the contractual provisions of the underlying arrangements.

and economic data. For credit card loans, loan origination fees and direct loan origination costs are amortized on a straight-line basis over a 12-month period.

Interchange Income

Card Partnership Agreements

Collaborative Arrangements

Stock-based Compensation

Marketing Expenses

Income Taxes

Earnings Per Share

Earnings per share is calculated and reported under the “two-class” method. The “two-class” method is an earnings allocation method under which earnings per share is calculated for each class of common stock and participating security considering both dividends declared or accumulated and participation rights in undistributed earnings as if all such earnings had been distributed during the period. We have unvested share-based payment awards which have a right to receive non-forfeitable dividends, which are deemed to be participating securities.We calculate basic earnings per share by dividing net income, after deducting dividends on preferred stock and participating securities as well as undistributed earnings allocated to participating securities, by the average number of common shares outstanding during the period, net of any treasury shares. We calculate diluted earnings per share in a similar manner after consideration of the potential dilutive effect of common stock equivalents on the average number of common shares outstanding during the period. Common stock equivalents include stock options, restricted stock units, and performance share units. Common stock equivalents are calculated based upon the treasury stock method using an average market price of common shares during the period. Dilution is not considered when a net loss is reported. Common stock equivalents that have an antidilutive effect are excluded from the computation of diluted earnings per share. See “Note 12—Earnings Per Common Share” for additional details.

Derivatives Instruments and Hedging Activities

Fair Value

Accounting for Acquisitions

New Accounting Standards

Accounting Standards Adopted During the Twelve Months Ended December 31, 2022

Standard

Guidance

Adoption Timing and Financial Statement Impacts

Fair Value Hedging

ASU No. 2022-01, Derivatives and Hedging (Topic 815): Fair Value Hedging - Portfolio Layering Method

Issued March 2022

Derivative Instruments and Hedging Activities (Policies)	12 Months Ended
	Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Balance Sheet Offsetting of Financial Assets and Liabilities	Derivative contracts that we execute bilaterally in the over-the-counter (“OTC”) market or are centrally cleared are generally governed by enforceable master netting agreements where we generally have the right to offset exposure with the same counterparty. Either counterparty can generally request to net settle all contracts through a single payment upon default on, or termination of, any one contract. We elect to offset the derivative assets and liabilities under master netting agreements for balance sheet presentation where a right of setoff exists. For derivative contracts entered into under master netting agreements for which we have not been able to confirm the enforceability of the setoff rights, or those not subject to master netting agreements, we do not offset our derivative positions for balance sheet presentation. See “Note 9—Derivative Instruments and Hedging Activities” for more details. We also elect to present securities purchased or sold under resale or repurchase agreements on a net basis when a legally enforceable master netting agreement exists and other applicable criteria are met. Security collateral received from or pledged to the counterparties are not eligible for netting and are presented gross in our consolidated balance sheet. See “Note 8—Deposits and Borrowings” and “Note 9—Derivative Instruments and Hedging Activities” for more details. Balance Sheet Offsetting of Financial Assets and Liabilities Derivative contracts and repurchase agreements that we execute bilaterally in the OTC market are generally governed by enforceable master netting agreements where we generally have the right to offset exposure with the same counterparty. Either counterparty can generally request to net settle all contracts through a single payment upon default on, or termination of, any one contract. We elect to offset the derivative assets and liabilities under master netting agreements for balance sheet presentation where a right of setoff exists. For derivative contracts entered into under master netting agreements for which we have not been able to confirm the enforceability of the setoff rights, or those not subject to master netting agreements, we do not offset our derivative positions for balance sheet presentation.

Investment Securities (Tables)

12 Months Ended

Dec. 31, 2022

Investments, Debt and Equity Securities [Abstract]

Schedule of Available-for-Sale Securities

Table 2.1: Investment Securities Available for Sale


	December 31, 2022
(Dollars in millions)	Amortized Cost		Allowance for Credit Losses		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Investment securities available for sale:
U.S. Treasury securities	$	5,129	$	0	$	2	$	(90)	$	5,041
RMBS:
Agency	71,212		0		53		(9,413)		61,852
Non-agency	653		(3)		93		(6)		737
Total RMBS	71,865		(3)		146		(9,419)		62,589
Agency CMBS	8,626		0		4		(760)		7,870
Other securities(1)	1,427		0		2		(10)		1,419
Total investment securities available for sale	$	87,047	$	(3)	$	154	$	(10,279)	$	76,919


	December 31, 2021
(Dollars in millions)	Amortized Cost		Allowance for Credit Losses		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Investment securities available for sale:
U.S. Treasury securities	$	9,419	$	0	$	23	$	0	$	9,442
RMBS:
Agency	72,593		0		958		(931)		72,620
Non-agency	792		(1)		205		0		996
Total RMBS	73,385		(1)		1,163		(931)		73,616
Agency CMBS	9,237		0		195		(63)		9,369
Other securities(1)	2,830		0		6		(2)		2,834
Total investment securities available for sale	$	94,871	$	(1)	$	1,387	$	(996)	$	95,261

__________

Schedule of Available-for-Sale Securities in Gross Unrealized Loss Position

Table 2.2: Securities in a Gross Unrealized Loss Position


	December 31, 2022
	Less than 12 Months				12 Months or Longer				Total
(Dollars in millions)	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses
Investment securities available for sale without an allowance for credit losses:
U.S. Treasury securities	$	2,464	$	(57)	$	448	$	(33)	$	2,912	$	(90)
RMBS:
Agency	23,271		(1,809)		36,803		(7,604)		60,074		(9,413)
Non-agency	14		(1)		3		0		17		(1)
Total RMBS	23,285		(1,810)		36,806		(7,604)		60,091		(9,414)
Agency CMBS	4,325		(267)		3,214		(493)		7,539		(760)
Other securities	555		(7)		76		(3)		631		(10)
Total investment securities available for sale in a gross unrealized loss position without an allowance for credit losses(1)	$	30,629	$	(2,141)	$	40,544	$	(8,133)	$	71,173	$	(10,274)


	December 31, 2021
	Less than 12 Months				12 Months or Longer				Total
(Dollars in millions)	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses
Investment securities available for sale without an allowance for credit losses:

RMBS:
Agency	$	37,492	$	(632)	$	8,606	$	(299)	$	46,098	$	(931)
Non-agency	3		0		1		0		4		0
Total RMBS	37,495		(632)		8,607		(299)		46,102		(931)
Agency CMBS	2,999		(36)		803		(27)		3,802		(63)
Other securities	1,207		(2)		0		0		1,207		(2)
Total investment securities available for sale in a gross unrealized loss position without an allowance for credit losses(1)	$	41,701	$	(670)	$	9,410	$	(326)	$	51,111	$	(996)

__________

(1) Consists of approximately 2,840 and 740 securities in gross unrealized loss positions as of December 31, 2022 and 2021, respectively.

Schedule of Contractual Maturities for Securities

Table 2.3: Contractual Maturities and Weighted-Average Yields of Securities


	December 31, 2022
(Dollars in millions)	Due in 1 Year or Less		Due > 1 Year through 5 Years		Due > 5 Years through 10 Years		Due > 10 Years		Total
Fair value of securities available for sale:
U.S. Treasury securities	$	0	$	5,041	$	0	$	0	$	5,041
RMBS(1):
Agency	0		103		1,151		60,598		61,852
Non-agency	0		0		0		737		737
Total RMBS	0		103		1,151		61,335		62,589
Agency CMBS(1)	296		2,125		3,583		1,866		7,870
Other securities	424		965		30		0		1,419
Total securities available for sale	$	720	$	8,234	$	4,764	$	63,201	$	76,919
Amortized cost of securities available for sale	$	726	$	8,492	$	5,281	$	72,548	$	87,047
Weighted-average yield for securities available for sale	3.54%		2.12%		2.54%		2.35%		2.34%

__________

(1)As of December 31, 2022, the weighted-average expected maturities of RMBS and Agency CMBS were 7.1 years and 5.0 years, respectively.

Schedule of Realized Gain (Loss)

Table 2.4 Net Securities Gains or Losses and Proceeds from Sales

The following table presents the gross realized gains or losses and proceeds from the sale of securities available for sale for the years ended December 31, 2022, 2021 and 2020.


	Year Ended December 31,
(Dollars in millions)	2022		2021		2020
Realized gains (losses):
Gross realized gains	$	1	$	10	$	25
Gross realized losses	(10)		(8)		0
Net realized gains (losses)	$	(9)	$	2	$	25
Total proceeds from sales	$	2,570	$	2,776	$	812

Loans (Tables)

12 Months Ended

Dec. 31, 2022

Receivables [Abstract]

Loan Portfolio Composition and Aging Analysis

The table below presents the composition and aging analysis of our loans held for investment portfolio as of December 31, 2022 and 2021. The delinquency aging includes all past due loans, both performing and nonperforming.Table 3.1: Loan Portfolio Composition and Aging Analysis


	December 31, 2022
			Delinquent Loans
(Dollars in millions)	Current		30-59 Days		60-89 Days		> 90 Days		Total Delinquent Loans		Total Loans
Credit Card:
Domestic credit card	$	127,066	$	1,405	$	975	$	2,135	$	4,515	$	131,581
International card businesses	5,895		86		58		110		254		6,149
Total credit card	132,961		1,491		1,033		2,245		4,769		137,730
Consumer Banking:
Auto	73,467		3,101		1,418		387		4,906		78,373
Retail banking	1,518		13		4		17		34		1,552
Total consumer banking	74,985		3,114		1,422		404		4,940		79,925
Commercial Banking:
Commercial and multifamily real estate	37,417		0		1		35		36		37,453
Commercial and industrial	56,942		61		55		165		281		57,223
Total commercial banking	94,359		61		56		200		317		94,676
Total loans(1)	$	302,305	$	4,666	$	2,511	$	2,849	$	10,026	$	312,331
% of Total loans	96.79%		1.50%		0.80%		0.91%		3.21%		100.00%


	December 31, 2021
			Delinquent Loans
(Dollars in millions)	Current		30-59 Days		60-89 Days		> 90 Days		Total Delinquent Loans		Total Loans
Credit Card:
Domestic credit card	$	106,312	$	773	$	528	$	1,110	$	2,411	$	108,723
International card businesses	5,836		77		50		86		213		6,049
Total credit card	112,148		850		578		1,196		2,624		114,772
Consumer Banking:
Auto	72,221		2,385		933		240		3,558		75,779
Retail banking	1,807		35		7		18		60		1,867
Total consumer banking	74,028		2,420		940		258		3,618		77,646


	December 31, 2021
			Delinquent Loans
(Dollars in millions)	Current		30-59 Days		60-89 Days		> 90 Days		Total Delinquent Loans		Total Loans
Commercial Banking:
Commercial and multifamily real estate	35,100		92		35		35		162		35,262
Commercial and industrial	49,379		139		103		39		281		49,660
Total commercial banking	84,479		231		138		74		443		84,922
Total loans(1)	$	270,655	$	3,501	$	1,656	$	1,528	$	6,685	$	277,340
% of Total loans	97.59%		1.26%		0.60%		0.55%		2.41%		100.00%

__________

(1)Loans include unamortized premiums, discounts, and deferred fees and costs totaling $1.4 billion as of both December 31, 2022 and 2021.

90 Plus Day Delinquent Loans Accruing Interest and Nonperforming Loans

Table 3.2: 90+ Day Delinquent Loans Accruing Interest and Nonperforming Loans


	December 31, 2022									December 31, 2021
(Dollars in millions)	> 90 Days and Accruing			Nonperforming Loans(1)			Nonperforming Loans Without an Allowance			> 90 Days and Accruing			Nonperforming Loans(1)			Nonperforming Loans Without an Allowance
Credit Card:
Domestic credit card	$	2,135		N/A			$	0		$	1,110		N/A			$	0
International card businesses	105			$	9		0			82			$	10		0
Total credit card	2,240			9			0			1,192			10			0
Consumer Banking:
Auto	0			595			0			0			344			0
Retail banking	0			39			8			0			47			4
Total consumer banking	0			634			8			0			391			4
Commercial Banking:
Commercial and multifamily real estate	0			271			246			3			383			268
Commercial and industrial	0			430			294			0			316			257
Total commercial banking	0			701			540			3			699			525
Total	$	2,240		$	1,344		$	548		$	1,195		$	1,100		$	529
% of Total loans held for investment	0.72		%	0.43		%	0.18		%	0.43		%	0.40		%	0.19		%

__________

(1)We recognized interest income for loans classified as nonperforming of $66 million and $43 million for the years ended December 31, 2022 and 2021 respectively

Financing Receivable, Allowance for Credit Loss [Line Items]

TDR Disclosures

The following tables present the major modification types, amortized cost amounts and financial effects of loans modified in a TDR during the years ended December 31, 2022, 2021 and 2020.

Table 3.6: Troubled Debt Restructurings


			Year Ended December 31, 2022
			Reduced Interest Rate				Term Extension
(Dollars in millions)	Total Loans Modified(1)		% of TDR Activity(2)		Average Rate Reduction		% of TDR Activity(2)		Average Term Extension (Months)
Credit Card:
Domestic credit card	$	306	100	%	16.54	%	N/A		N/A
International card businesses	127		100		27.42		N/A		N/A
Total credit card	433		100		19.73		N/A		N/A
Consumer Banking:
Auto	1,070		57		8.53		97	%	4
Retail banking	7		N/A		N/A		92		13
Total consumer banking	1,077		57		8.53		97		4
Commercial Banking:
Commercial and multifamily real estate	385		8		0.28		84		13
Commercial and industrial	357		N/A		N/A		64		13
Total commercial banking	742		4		0.28		74		13
Total	$	2,252


			Year Ended December 31, 2021
			Reduced Interest Rate				Term Extension			Balance Reduction
(Dollars in millions)	Total Loans Modified(1)		% of TDR Activity(2)		Average Rate Reduction		% of TDR Activity(2)		Average Term Extension (Months)	% of TDR Activity(2)		Gross Balance Reduction
Credit Card:
Domestic credit card	$	154	100	%	15.90	%	N/A		N/A	N/A		N/A
International card businesses	123		100		27.70		N/A		N/A	N/A		N/A
Total credit card	277		100		21.15		N/A		N/A	N/A		N/A
Consumer Banking:
Auto	371		43		8.72		93	%	4	0	%	$	1
Retail banking	3		13		2.94		30		42	N/A		N/A
Total consumer banking	374		42		8.70		93		4	0		1
Commercial Banking:
Commercial and multifamily real estate	49		21		1.19		85		11	N/A		N/A
Commercial and industrial	112		N/A		N/A		30		6	N/A		N/A
Total commercial banking	161		6		1.19		46		9	N/A		N/A
Total	$	812


			Year Ended December 31, 2020
			Reduced Interest Rate				Term Extension			Balance Reduction
(Dollars in millions)	Total Loans Modified(1)		% of TDR Activity(2)		Average Rate Reduction		% of TDR Activity(2)		Average Term Extension (Months)	% of TDR Activity(2)		Gross Balance Reduction
Credit Card:
Domestic credit card	$	243	100	%	15.94	%	N/A		N/A	N/A		N/A
International card businesses	168		100		27.38		N/A		N/A	N/A		N/A
Total credit card	411		100		20.61		N/A		N/A	N/A		N/A
Consumer Banking:
Auto	536		11		5.68		95	%	3	0	%	$	1
Retail banking	5		11		10.86		20		8	N/A		N/A
Total consumer banking	541		11		5.73		94		3	0		1
Commercial Banking:
Commercial and multifamily real estate	98		N/A		N/A		86		5	N/A		N/A
Commercial and industrial	439		4		0.14		52		21	4		7
Total commercial banking	537		3		0.14		58		17	3		7
Total	$	1,489

__________

(2)Due to multiple modification types granted to some troubled borrowers, percentages may total more than 100% for certain loan types.

Table 3.7: TDR—Subsequent Defaults


	Year Ended December 31,
		2022	2021			2020
(Dollars in millions)			Number of Contracts	Amount		Number of Contracts	Amount		Number of Contracts	Amount
Credit Card:
Domestic credit card			37,029	$	75	18,694	$	35	32,639	$	69
International card businesses			74,432	79		58,914	87		58,363	87
Total credit card			111,461	154		77,608	122		91,002	156
Consumer Banking:
Auto			16,100	285		8,847	136		5,877	77
Retail banking			1	1		9	0		10	1
Total consumer banking			16,101	286		8,856	136		5,887	78
Commercial Banking:
Commercial and multifamily real estate			2	27		1	50		1	50
Commercial and industrial			5	56		7	120		15	130
Total commercial banking			7	83		8	170		16	180
Total			127,569	$	523	86,472	$	428	96,905	$	414

Credit Card

Financing Receivable, Allowance for Credit Loss [Line Items]

Credit Quality Indicator

The table below presents our credit card portfolio by delinquency status as of December 31, 2022 and 2021.

Table 3.3: Credit Card Delinquency Status


	December 31, 2022						December 31, 2021
(Dollars in millions)	Revolving Loans		Revolving Loans Converted to Term		Total		Revolving Loans		Revolving Loans Converted to Term		Total
Credit Card:
Domestic credit card:
Current	$	126,811	$	255	$	127,066	$	105,985	$	327	$	106,312
30-59 days	1,388		17		1,405		760		13		773
60-89 days	964		11		975		519		9		528
Greater than 90 days	2,121		14		2,135		1,100		10		1,110
Total domestic credit card	131,284		297		131,581		108,364		359		108,723

International card businesses:
Current	5,866		29		5,895		5,795		41		5,836
30-59 days	83		3		86		73		4		77
60-89 days	55		3		58		47		3		50
Greater than 90 days	106		4		110		82		4		86
Total international card businesses	6,110		39		6,149		5,997		52		6,049
Total credit card	$	137,394	$	336	$	137,730	$	114,361	$	411	$	114,772

Consumer Banking

Financing Receivable, Allowance for Credit Loss [Line Items]

Credit Quality Indicator

Table 3.4: Consumer Banking Portfolio by Credit Quality Indicator


	December 31, 2022
	Term Loans by Vintage Year
(Dollars in millions)	2022		2021		2020		2019		2018		Prior		Total Term Loans		Revolving Loans		Revolving Loans Converted to Term		Total

Auto—At origination FICO scores:(1)
Greater than 660	$	17,872	$	14,246	$	5,354	$	2,595	$	1,032	$	328	$	41,427	$	0	$	0	$	41,427
621-660	6,212		5,060		2,257		1,167		513		185		15,394		0		0		15,394
620 or below	7,717		6,501		3,898		2,144		914		378		21,552		0		0		21,552
Total auto	31,801		25,807		11,509		5,906		2,459		891		78,373		0		0		78,373

Retail banking—Delinquency status:
Current	166		128		82		133		127		470		1,106		408		4		1,518
30-59 days	2		1		0		0		0		2		5		8		0		13
60-89 days	0		1		0		0		0		1		2		2		0		4
Greater than 90 days	0		0		0		0		3		8		11		4		2		17
Total retail banking	168		130		82		133		130		481		1,124		422		6		1,552
Total consumer banking	$	31,969	$	25,937	$	11,591	$	6,039	$	2,589	$	1,372	$	79,497	$	422	$	6	$	79,925


	December 31, 2021
	Term Loans by Vintage Year
(Dollars in millions)	2021		2020		2019		2018		2017		Prior		Total Term Loans		Revolving Loans		Revolving Loans Converted to Term		Total

Auto—At origination FICO scores:(1)
Greater than 660	$	20,758	$	8,630	$	4,739	$	2,394	$	1,153	$	301	$	37,975	$	0	$	0	$	37,975
621-660	7,456		3,721		2,109		1,084		537		157		15,064		0		0		15,064
620 or below	9,522		6,336		3,767		1,840		949		326		22,740		0		0		22,740
Total auto	37,736		18,687		10,615		5,318		2,639		784		75,779		0		0		75,779

Retail banking—Delinquency status:
Current	285		171		172		161		176		491		1,456		345		6		1,807
30-59 days	0		2		2		7		0		1		12		23		0		35
60-89 days	0		4		0		0		0		2		6		1		0		7
Greater than 90 days	0		1		0		1		1		9		12		4		2		18
Total retail banking	285		178		174		169		177		503		1,486		373		8		1,867


	December 31, 2021
	Term Loans by Vintage Year
(Dollars in millions)	2021		2020		2019		2018		2017		Prior		Total Term Loans		Revolving Loans		Revolving Loans Converted to Term		Total
Total consumer banking	$	38,021	$	18,865	$	10,789	$	5,487	$	2,816	$	1,287	$	77,265	$	373	$	8	$	77,646

__________

Commercial Banking

Financing Receivable, Allowance for Credit Loss [Line Items]

Credit Quality Indicator

Table 3.5: Commercial Banking Portfolio by Internal Risk Ratings


	December 31, 2022
	Term Loans by Vintage Year
(Dollars in millions)	2022		2021		2020		2019		2018		Prior		Total Term Loans		Revolving Loans		Revolving Loans Converted to Term		Total
Internal risk rating:(1)
Commercial and multifamily real estate
Noncriticized	$	9,527	$	4,086	$	1,161	$	1,671	$	1,280	$	2,898	$	20,623	$	13,254	$	25	$	33,902
Criticized performing	814		376		202		412		302		1,061		3,167		113		0		3,280
Criticized nonperforming	101		22		0		13		19		116		271		0		0		271
Total commercial and multifamily real estate	10,442		4,484		1,363		2,096		1,601		4,075		24,061		13,367		25		37,453
Commercial and industrial
Noncriticized	22,105		6,031		2,934		1,809		973		2,658		36,510		17,187		21		53,718
Criticized performing	992		560		156		160		167		76		2,111		964		0		3,075
Criticized nonperforming	196		21		5		87		40		5		354		76		0		430
Total commercial and industrial	23,293		6,612		3,095		2,056		1,180		2,739		38,975		18,227		21		57,223
Total commercial banking	$	33,735	$	11,096	$	4,458	$	4,152	$	2,781	$	6,814	$	63,036	$	31,594	$	46	$	94,676


	December 31, 2021
	Term Loans by Vintage Year
(Dollars in millions)	2021		2020		2019		2018		2017		Prior		Total Term Loans		Revolving Loans		Revolving Loans Converted to Term		Total
Internal risk rating:(1)
Commercial and multifamily real estate
Noncriticized	$	6,590	$	2,924	$	3,393	$	2,401	$	793	$	3,538	$	19,639	$	12,286	$	0	$	31,925
Criticized performing	248		195		329		317		261		1,478		2,828		101		25		2,954
Criticized nonperforming	0		0		88		20		9		266		383		0		0		383
Total commercial and multifamily real estate	6,838		3,119		3,810		2,738		1,063		5,282		22,850		12,387		25		35,262
Commercial and industrial
Noncriticized	12,662		7,039		5,506		2,750		1,730		3,033		32,720		14,310		59		47,089
Criticized performing	279		188		838		207		120		167		1,799		456		0		2,255
Criticized nonperforming	32		52		85		93		6		10		278		38		0		316
Total commercial and industrial	12,973		7,279		6,429		3,050		1,856		3,210		34,797		14,804		59		49,660
Total commercial banking	$	19,811	$	10,398	$	10,239	$	5,788	$	2,919	$	8,492	$	57,647	$	27,191	$	84	$	84,922

__________

(1)Criticized exposures correspond to the “Special Mention,” “Substandard” and “Doubtful” asset categories defined by bank regulatory authorities.

Allowance for Credit Losses and Reserve for Unfunded Lending Commitments (Tables)

12 Months Ended

Dec. 31, 2022

Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]

Allowance for Credit Losses on Financing Receivables

Table 4.1: Allowance for Credit Losses and Reserve for Unfunded Lending Commitments Activity



(Dollars in millions)	Credit Card		Consumer Banking		Commercial Banking		Total
Allowance for credit losses:
Balance as of December 31, 2019	$	5,395	$	1,038	$	775	$	7,208
Cumulative effects from adoption of the CECL standard	2,241		502		102		2,845
Finance charge and fee reserve reclassification(1)	462		0		0		462
Balance as of January 1, 2020	8,098		1,540		877		10,515
Charge-offs	(5,749)		(1,534)		(394)		(7,677)
Recoveries(2)	1,479		956		17		2,452
Net charge-offs	(4,270)		(578)		(377)		(5,225)
Provision for credit losses	7,327		1,753		1,158		10,238
Allowance build for credit losses(3)	3,057		1,175		781		5,013
Other changes(4)	36		0		0		36
Balance as of December 31, 2020	$	11,191	$	2,715	$	1,658	$	15,564



(Dollars in millions)	Credit Card		Consumer Banking		Commercial Banking		Total
Reserve for unfunded lending commitments:
Balance as of December 31, 2019	0		5		130		135
Cumulative effects from adoption of the CECL standard	0		(5)		42		37
Balance as of January 1, 2020	0		0		172		172
Provision for losses on unfunded lending commitments	0		0		23		23
Balance as of December 31, 2020	0		0		195		195
Combined allowance and reserve as of December 31, 2020	$	11,191	$	2,715	$	1,853	$	15,759
Allowance for credit losses:
Balance as of December 31, 2020	$	11,191	$	2,715	$	1,658	$	15,564
Charge-offs	(3,481)		(1,211)		(48)		(4,740)
Recoveries(2)	1,525		935		46		2,506
Net charge-offs	(1,956)		(276)		(2)		(2,234)
Benefit for credit losses	(902)		(521)		(489)		(1,912)
Allowance release for credit losses	(2,858)		(797)		(491)		(4,146)
Other changes(4)	12		0		0		12
Balance as of December 31, 2021	8,345		1,918		1,167		11,430
Reserve for unfunded lending commitments:
Balance as of December 31, 2020	0		0		195		195
Provision (benefit) for losses on unfunded lending commitments	0		0		(30)		(30)
Balance as of December 31, 2021	0		0		165		165
Combined allowance and reserve as of December 31, 2021	$	8,345	$	1,918	$	1,332	$	11,595
Allowance for credit losses:
Balance as of December 31, 2021	$	8,345	$	1,918	$	1,167	$	11,430
Charge-offs	(4,362)		(1,614)		(88)		(6,064)
Recoveries(2)	1,314		760		17		2,091
Net charge-offs	(3,048)		(854)		(71)		(3,973)
Provision (benefit) for credit losses	4,265		1,173		362		5,800
Allowance build for credit losses	1,217		319		291		1,827
Other changes(4)	(17)		0		0		(17)
Balance as of December 31, 2022	9,545		2,237		1,458		13,240
Reserve for unfunded lending commitments:
Balance as of December 31, 2021	0		0		165		165
Provision for losses on unfunded lending commitments	0		0		53		53
Balance as of December 31, 2022	0		0		218		218
Combined allowance and reserve as of December 31, 2022	$	9,545	$	2,237	$	1,676	$	13,458

__________

(3)Includes an allowance release of $327 million for a partnership credit card loan portfolio transferred to held for sale in the third quarter of 2020.

(4)Primarily represents foreign currency translation adjustments and, in periods of acquisition, initial allowance builds for purchase credit-deteriorated loans.

Schedule of Loss Sharing Arrangement Impact

The table below summarizes the changes in the estimated reimbursements from these partners for the years ended December 31, 2022, 2021 and 2020.

Table 4.2: Summary of Credit Card Partnership Loss Sharing Arrangements Impacts


	Year Ended December 31,
(Dollars in millions)	2022		2021		2020
Estimated reimbursements from partners, beginning of period(1)	$	1,450	$	2,159	$	2,166
Amounts due from partners which reduced net charge-offs	(515)		(438)		(959)
Amounts expected to become due from (to) partners which reduced (increased) provision for credit losses	623		(271)		952
Estimated reimbursements from partners, end of period	$	1,558	$	1,450	$	2,159

__________

(1)Includes effects from adoption of the CECL standard in the first quarter of 2020.

Variable Interest Entities and Securitizations (Tables)

12 Months Ended

Dec. 31, 2022

Variable Interest Entities and Securitization [Abstract]

Carrying Amount of Assets and Liabilities of Variable Interest Entities

Table 5.1: Carrying Amount of Consolidated and Unconsolidated VIEs


	December 31, 2022
	Consolidated				Unconsolidated
(Dollars in millions)	Carrying Amount of Assets		Carrying Amount of Liabilities		Carrying Amount of Assets		Carrying Amount of Liabilities		Maximum Exposure to Loss
Securitization-Related VIEs:(1)
Credit card loan securitizations(2)	$	23,620	$	13,877	$	0	$	0	$	0
Auto loan securitizations	4,863		4,002		0		0		0
Total securitization-related VIEs	28,483		17,879		0		0		0
Other VIEs:(3)
Affordable housing entities	261		19		4,944		1,596		4,944
Entities that provide capital to low-income and rural communities	2,301		10		0		0		0
Other(4)	0		0		337		0		337
Total other VIEs	2,562		29		5,281		1,596		5,281
Total VIEs	$	31,045	$	17,908	$	5,281	$	1,596	$	5,281


	December 31, 2021
	Consolidated				Unconsolidated
(Dollars in millions)	Carrying Amount of Assets		Carrying Amount of Liabilities		Carrying Amount of Assets		Carrying Amount of Liabilities		Maximum Exposure to Loss
Securitization-Related VIEs:(1)
Credit card loan securitizations(2)	$	21,569	$	13,016	$	0	$	0	$	0
Auto loan securitizations	2,552		2,187		0		0		0
Total securitization-related VIEs	24,121		15,203		0		0		0


	December 31, 2021
	Consolidated				Unconsolidated
(Dollars in millions)	Carrying Amount of Assets		Carrying Amount of Liabilities		Carrying Amount of Assets		Carrying Amount of Liabilities		Maximum Exposure to Loss
Other VIEs:(3)
Affordable housing entities	263		27		4,774		1,454		4,774
Entities that provide capital to low-income and rural communities	2,074		26		0		0		0
Other(4)	0		0		383		0		383
Total other VIEs	2,337		53		5,157		1,454		5,157
Total VIEs	$	26,458	$	15,256	$	5,157	$	1,454	$	5,157

__________

(1)Excludes insignificant VIEs from previously exited businesses.

(2)Represents the carrying amount of assets and liabilities of the VIE, which includes the seller’s interest and repurchased notes held by other related parties.

(4)Primarily consists of variable interests in companies that promote renewable energy sources and other equity method investments.

External Debt and Receivable Balances of Securitization Programs

The table below presents our continuing involvement in certain securitization-related VIEs as of December 31, 2022 and 2021.

Table 5.2: Continuing Involvement in Securitization-Related VIEs


(Dollars in millions)	Credit Card		Auto
December 31, 2022:
Securities held by third-party investors	$	12,976	$	3,997
Receivables in the trusts	24,367		4,682
Cash balance of spread or reserve accounts	0		23
Retained interests	Yes		Yes
Servicing retained	Yes		Yes
December 31, 2021:
Securities held by third-party investors	$	12,808	$	2,186
Receivables in the trusts	22,454		2,418
Cash balance of spread or reserve accounts	0		13
Retained interests	Yes		Yes
Servicing retained	Yes		Yes

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References + Details

Goodwill and Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Components of Goodwill, Intangible Assets and MSRs

Table 6.1: Components of Goodwill, Other Intangible Assets and MSRs


	December 31, 2022
(Dollars in millions)	Carrying Amount of Assets		Accumulated Amortization		Net Carrying Amount		Weighted Average Remaining Amortization Period
Goodwill	$	14,777	N/A		$	14,777	N/A
Other intangible assets:
Purchased credit card relationship (“PCCR”) intangibles	147		$	(26)	121		7.8 years

Other(1)	195		(157)		38		5.4 years
Total other intangible assets	342		(183)		159		7.3 years
Total goodwill and other intangible assets	$	15,119	$	(183)	$	14,936
Commercial MSRs(2)	$	660	$	(223)	$	437

	December 31, 2021
(Dollars in millions)	Carrying Amount of Assets		Accumulated Amortization		Net Carrying Amount		Weighted Average Remaining Amortization Period
Goodwill	$	14,782	N/A		$	14,782	N/A
Other intangible assets:
Purchased credit card relationship (“PCCR”) intangibles	29		$	(10)	19		5.9 years

Other(1)	213		(121)		92		4.1 years
Total other intangible assets	242		(131)		111		4.4 years
Total goodwill and other intangible assets	$	15,024	$	(131)	$	14,893
Commercial MSRs(2)	$	622	$	(202)	$	420

__________

(1)Primarily consists of intangibles for sponsorship, customer and merchant relationships, trade names and other customer contract intangibles.

Goodwill by Business Segments

Goodwill

Table 6.2: Goodwill by Business Segments


(Dollars in millions)	Credit Card		Consumer Banking		Commercial Banking		Total
Balance as of December 31, 2019	$	5,088	$	4,645	$	4,920	$	14,653



Balance as of December 31, 2020	$	5,088	$	4,645	$	4,920	$	14,653
Acquisitions	0		0		130		130

Other adjustments(1)	(1)		0		0		(1)
Balance as of December 31, 2021	$	5,087	$	4,645	$	5,050	$	14,782


Other adjustments(1)	(9)		0		4		(5)
Balance as of December 31, 2022	$	5,078	$	4,645	$	5,054	$	14,777

__________

(1)Represents foreign currency translation adjustments and measurement period adjustments on prior period acquisitions

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

The following table summarizes the actual amortization expense recorded for the years ended December 31, 2022, 2021 and 2020 and the estimated future amortization expense for intangible assets as of December 31, 2022:

Table 6.3: Amortization Expense


(Dollars in millions)	Amortization Expense
Actual for the year ended December 31,
2020	$	60
2021	29
2022	60
Estimated future amounts for the year ending December 31,
2023	38
2024	31
2025	26
2026	19
2027	15
Thereafter	21
Total estimated future amounts	$	150

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (h)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (g)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1A
-URI https://asc.fasb.org/extlink&oid=121556970&loc=SL108378252-109267

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
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-Paragraph 1
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-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13854-109267

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 55
-Paragraph 24
-URI https://asc.fasb.org/extlink&oid=122137925&loc=d3e14258-109268

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

+ Details

Premises, Equipment and Leases (Tables)

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment and Lease Commitments [Abstract]

Schedule of Property, Plant and Equipment

The following table presents our premises and equipment as of December 31, 2022 and 2021.

Table 7.1 Components of Premises and Equipment


(Dollars in millions)	December 31, 2022		December 31, 2021
Land	$	320	$	336
Buildings and improvements	4,345		3,854
Furniture and equipment	1,831		1,816
Computer software	2,213		2,006
In progress	646		732
Total premises and equipment, gross	9,355		8,744
Less: Accumulated depreciation and amortization	(5,004)		(4,534)
Total premises and equipment, net	$	4,351	$	4,210

Schedule of Lease Cost

The following tables present information about our operating lease portfolio and the related lease costs as of and for the years ended December 31, 2022 and 2021.

Table 7.2 Operating Lease Portfolio


(Dollars in millions)	December 31, 2022			December 31, 2021
Right-of-use assets	$	1,128		$	1,137
Lease liabilities	1,458			1,485
Weighted-average remaining lease term	8.4 years			8 years
Weighted-average discount rate	3.1		%	3.0		%

Table 7.3 Total Operating Lease Expense and Other Information


	Year Ended December 31,
(Dollars in millions)	2022		2021
Operating lease cost	$	280	$	305
Variable lease cost	42		42

Total lease cost	322		347
Sublease income	(16)		(23)
Net lease cost	$	306	$	324
Cash paid for amounts included in the measurement of lease liabilities	$	320	$	353
Right-of-use assets obtained in exchange for lease liabilities	221		81

Schedule of Future Minimum Lease Payments

The following table presents a maturity analysis of our operating leases and a reconciliation of the undiscounted cash flows to our lease liabilities as of December 31, 2022.

Table 7.4 Maturities of Operating Leases and Reconciliation to Lease Liabilities


(Dollars in millions)	December 31, 2022
2023	$	259
2024	241
2025	210
2026	192
2027	167
Thereafter	623
Total undiscounted lease payments	1,692
Less: Imputed interest	(234)
Total lease liabilities	$	1,458

Deposits and Borrowings (Tables)

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

Components of Deposits, Short-Term Borrowings and Long-Term Debt

The following tables summarize the components of our deposits, short-term borrowings and long-term debt as of December 31, 2022 and 2021. The carrying value presented below for these borrowings includes unamortized debt premiums and discounts, net of debt issuance costs and fair value hedge accounting adjustments.

Table 8.1: Components of Deposits, Short-Term Borrowings and Long-Term Debt


(Dollars in millions)	December 31, 2022		December 31, 2021
Deposits:
Non-interest-bearing deposits	$	32,203	$	38,043
Interest-bearing deposits(1)	300,789		272,937
Total deposits	$	332,992	$	310,980
Short-term borrowings:
Federal funds purchased and securities loaned or sold under agreements to repurchase	$	883	$	820

Total short-term borrowings	$	883	$	820


	December 31, 2022					December 31, 2021
(Dollars in millions)	Maturity Dates	Stated Interest Rates	Weighted-Average Interest Rate	Carrying Value		Carrying Value
Long-term debt:
Securitized debt obligations	2023-2028	0.32% - 4.95%	2.61%	$	16,973	$	14,994
Senior and subordinated notes:
Fixed unsecured senior debt(2)	2023-2033	0.80 - 5.27	3.43	24,134		19,975
Floating unsecured senior debt	2023-2025	4.99 - 5.65	5.17	1,597		1,709
Total unsecured senior debt			3.53	25,731		21,684
Fixed unsecured subordinated debt	2023-2032	2.36 - 4.20	3.52	5,095		5,535
Total senior and subordinated notes				30,826		27,219
Other long-term borrowings:

Finance lease liabilities	2023 - 2031	0.30 - 9.91	4.27	33		53
Total other long-term borrowings				33		53
Total long-term debt				$	47,832	$	42,266
Total short-term borrowings and long-term debt				$	48,715	$	43,086

__________

(1)Includes $6.1 billion and $1.8 billion of time deposits in denominations in excess of the $250,000 federal insurance limit as of December 31, 2022 and 2021, respectively.

(2)Includes $1.2 billion and $1.4 billion of Euro (“EUR”) denominated unsecured notes as of December 31, 2022 and 2021, respectively.

Table 8.2: Maturity Profile of Borrowings


(Dollars in millions)	2023		2024		2025		2026		2027		Thereafter		Total
Interest-bearing time deposits	$	20,090	$	13,321	$	4,349	$	2,077	$	5,719	$	302	$	45,858
Securitized debt obligations	466		4,166		7,780		1,749		1,620		1,192		16,973
Federal funds purchased and securities loaned or sold under agreements to repurchase	883		0		0		0		0		0		883
Senior and subordinated notes	4,859		6,387		4,397		4,325		3,381		7,477		30,826
Other borrowings	19		3		2		2		3		4		33
Total	$	26,317	$	23,877	$	16,528	$	8,153	$	10,723	$	8,975	$	94,573

Derivative Instruments and Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Assets and Liabilities at Fair Value

Table 9.1: Derivative Assets and Liabilities at Fair Value


	December 31, 2022						December 31, 2021
	Notional or Contractual Amount		Derivative(1)				Notional or Contractual Amount		Derivative(1)
(Dollars in millions)			Assets		Liabilities				Assets		Liabilities
Derivatives designated as accounting hedges:
Interest rate contracts:
Fair value hedges	$	60,956	$	3	$	53	$	49,659	$	2	$	3
Cash flow hedges	30,350		0		451		52,400		244		16
Total interest rate contracts	91,306		3		504		102,059		246		19
Foreign exchange contracts:
Fair value hedges	1,338		0		211		1,421		13		0
Cash flow hedges	2,175		4		14		4,679		24		20
Net investment hedges	4,147		78		91		3,459		43		0
Total foreign exchange contracts	7,660		82		316		9,559		80		20
Total derivatives designated as accounting hedges	98,966		85		820		111,618		326		39
Derivatives not designated as accounting hedges:
Customer accommodation:
Interest rate contracts	91,601		1,140		1,873		71,724		620		194
Commodity contracts	28,935		1,756		1,738		22,021		1,669		1,561
Foreign exchange and other contracts	4,926		74		78		3,779		40		42
Total customer accommodation	125,462		2,970		3,689		97,524		2,329		1,797
Other interest rate exposures(2)	1,135		34		22		1,899		33		25
Other contracts	2,238		9		19		2,028		2		7
Total derivatives not designated as accounting hedges	128,835		3,013		3,730		101,451		2,364		1,829
Total derivatives	$	227,801	$	3,098	$	4,550	$	213,069	$	2,690	$	1,868
Less: netting adjustment(3)			(1,134)		(1,235)				(542)		(544)
Total derivative assets/liabilities			$	1,964	$	3,315			$	2,148	$	1,324

__________

(2)Other interest rate exposures include commercial mortgage-related derivatives and interest rate swaps.

(3)Represents balance sheet netting of derivative assets and liabilities, and related payables and receivables for cash collateral held or placed with the same counterparty.

Hedged Item in Fair Value Hedging Relationship

Table 9.2: Hedged Items in Fair Value Hedging Relationships


	December 31, 2022						December 31, 2021
	Carrying Amount Assets/(Liabilities)		Cumulative Amount of Basis Adjustments Included in the Carrying Amount				Carrying Amount Assets/(Liabilities)		Cumulative Amount of Basis Adjustments Included in the Carrying Amount
(Dollars in millions)			Total Assets/(Liabilities)		Discontinued-Hedging Relationships				Total Assets/(Liabilities)		Discontinued-Hedging Relationships
Line item on our consolidated balance sheets in which the hedged item is included:
Investment securities available for sale(1)(2)	$	3,983	$	(80)	$	200	$	10,327	$	286	$	295
Interest-bearing deposits	(17,280)		500		(1)		(7,361)		(47)		(1)
Securitized debt obligations	(11,921)		748		0		(11,155)		49		3
Senior and subordinated notes	(24,544)		1,542		(527)		(22,777)		(531)		(708)

__________

(2)Carrying value represents amortized cost.

Offsetting Assets

Table 9.3: Offsetting of Financial Assets and Financial Liabilities


	Gross Amounts		Gross Amounts Offset in the Balance Sheet				Net Amounts as Recognized		Securities Collateral Held Under Master Netting Agreements		Net Exposure
(Dollars in millions)			Financial Instruments		Cash Collateral Received
As of December 31, 2022
Derivative assets(1)	$	3,098	$	(759)	$	(375)	$	1,964	$	(96)	$	1,868
As of December 31, 2021
Derivative assets(1)	2,690		(252)		(290)		2,148		0		2,148


	Gross Amounts		Gross Amounts Offset in the Balance Sheet				Net Amounts as Recognized		Securities Collateral Pledged Under Master Netting Agreements		Net Exposure
(Dollars in millions)			Financial Instruments		Cash Collateral Pledged
As of December 31, 2022
Derivative liabilities(1)	$	4,550	$	(759)	$	(476)	$	3,315	$	(85)	$	3,230
Repurchase agreements(2)	883		0		0		883		(883)		0
As of December 31, 2021
Derivative liabilities(1)	1,868		(252)		(292)		1,324		0		1,324
Repurchase agreements(2)	820		0		0		820		(820)		0

__________

Offsetting Liabilities

Table 9.3: Offsetting of Financial Assets and Financial Liabilities


	Gross Amounts		Gross Amounts Offset in the Balance Sheet				Net Amounts as Recognized		Securities Collateral Held Under Master Netting Agreements		Net Exposure
(Dollars in millions)			Financial Instruments		Cash Collateral Received
As of December 31, 2022
Derivative assets(1)	$	3,098	$	(759)	$	(375)	$	1,964	$	(96)	$	1,868
As of December 31, 2021
Derivative assets(1)	2,690		(252)		(290)		2,148		0		2,148


	Gross Amounts		Gross Amounts Offset in the Balance Sheet				Net Amounts as Recognized		Securities Collateral Pledged Under Master Netting Agreements		Net Exposure
(Dollars in millions)			Financial Instruments		Cash Collateral Pledged
As of December 31, 2022
Derivative liabilities(1)	$	4,550	$	(759)	$	(476)	$	3,315	$	(85)	$	3,230
Repurchase agreements(2)	883		0		0		883		(883)		0
As of December 31, 2021
Derivative liabilities(1)	1,868		(252)		(292)		1,324		0		1,324
Repurchase agreements(2)	820		0		0		820		(820)		0

__________

Effects of Fair Value and Cash Flow Hedge Accounting

Table 9.4: Effects of Fair Value and Cash Flow Hedge Accounting


	Year Ended December 31, 2022
	Net Interest Income												Non-Interest Income
(Dollars in millions)	Investment Securities		Loans, Including Loans Held for Sale		Other		Interest-bearing Deposits		Securitized Debt Obligations		Senior and Subordinated Notes		Other
Total amounts presented in our consolidated statements of income	$	1,884	$	28,910	$	443	$	(2,535)	$	(384)	$	(1,074)	$	905
Fair value hedging relationships:
Interest rate and foreign exchange contracts:
Interest recognized on derivatives	$	48	$	0	$	0	$	2	$	(48)	$	(197)	$	0
Gains (losses) recognized on derivatives	276		0		0		(542)		(698)		(1,893)		(84)
Gains (losses) recognized on hedged items(1)	(366)		0		0		546		699		2,059		83
Excluded component of fair value hedges(2)	0		0		0		0		0		(3)		0
Net income (expense) recognized on fair value hedges	$	(42)	$	0	$	0	$	6	$	(47)	$	(34)	$	(1)
Cash flow hedging relationships:(3)
Interest rate contracts:
Realized gains (losses) reclassified from AOCI into net income	$	0	$	(121)	$	0	$	0	$	0	$	0	$	0
Foreign exchange contracts:
Realized gains (losses) reclassified from AOCI into net income(4)	0		0		3		0		0		0		(1)
Net income (expense) recognized on cash flow hedges	$	0	$	(121)	$	3	$	0	$	0	$	0	$	(1)



	Year Ended December 31, 2021
	Net Interest Income												Non-Interest Income
(Dollars in millions)	Investment Securities		Loans, Including Loans Held for Sale		Other		Interest-bearing Deposits		Securitized Debt Obligations		Senior and Subordinated Notes		Other
Total amounts presented in our consolidated statements of income	$	1,446	$	24,263	$	60	$	(956)	$	(119)	$	(488)	$	826
Fair value hedging relationships:
Interest rate and foreign exchange contracts:
Interest recognized on derivatives	$	(92)	$	0	$	0	$	126	$	123	$	209	$	0
Gains (losses) recognized on derivatives	207		0		0		(168)		(237)		(799)		(106)
Gains (losses) recognized on hedged items(1)	(299)		0		0		167		220		941		106
Excluded component of fair value hedges(2)	0		0		0		0		0		(3)		0
Net income (expense) recognized on fair value hedges	$	(184)	$	0	$	0	$	125	$	106	$	348	$	0
Cash flow hedging relationships:(3)
Interest rate contracts:
Realized gains reclassified from AOCI into net income	$	38	$	919	$	0	$	0	$	0	$	0	$	0
Foreign exchange contracts:
Realized gains reclassified from AOCI into net income(4)	0		0		1		0		0		0		1
Net income (expense) recognized on cash flow hedges	$	38	$	919	$	1	$	0	$	0	$	0	$	1



	Year Ended December 31, 2020
	Net Interest Income												Non-Interest Income
(Dollars in millions)	Investment Securities		Loans, Including Loans Held for Sale		Other		Interest-bearing Deposits		Securitized Debt Obligations		Senior and Subordinated Notes		Other
Total amounts presented in our consolidated statements of income	$	1,877	$	24,074	$	82	$	(2,165)	$	(232)	$	(679)	$	1,350
Fair value hedging relationships:
Interest rate and foreign exchange contracts:
Interest recognized on derivatives	$	(76)	$	0	$	0	$	108	$	125	$	225	$	0
Gains (losses) recognized on derivatives	(306)		0		0		204		176		950		126
Gains (losses) recognized on hedged items(1)	290		0		0		(203)		(212)		(904)		(125)
Excluded component of fair value hedges(2)	0		0		0		0		0		(3)		0
Net income (expense) recognized on fair value hedges	$	(92)	$	0	$	0	$	109	$	89	$	268	$	1
Cash flow hedging relationships:(3)
Interest rate contracts:
Realized gains reclassified from AOCI into net income	$	25	$	541	$	0	$	0	$	0	$	0	$	0
Foreign exchange contracts:
Realized gains (losses) reclassified from AOCI into net income(4)	0		0		10		0		0		0		(1)
Net income (expense) recognized on cash flow hedges	$	25	$	541	$	10	$	0	$	0	$	0	$	(1)

_________

(3)See “Note 10—Stockholders’ Equity” for the effects of cash flow and net investment hedges on AOCI and amounts reclassified to net income, net of tax.

Free-Standing Derivatives

Table 9.5: Gains (Losses) on Free-Standing Derivatives


	Year Ended December 31,
(Dollars in millions)	2022		2021		2020
Gains (losses) recognized in other non-interest income:
Customer accommodation:
Interest rate contracts	$	40	$	32	$	15
Commodity contracts	49		28		32
Foreign exchange and other contracts	14		7		8
Total customer accommodation	103		67		55
Other interest rate exposures	76		(5)		(8)
Other contracts	(38)		(12)		(4)
Total	$	141	$	50	$	43

Gains (Losses) on Free-Standing Derivatives

Table 9.5: Gains (Losses) on Free-Standing Derivatives


	Year Ended December 31,
(Dollars in millions)	2022		2021		2020
Gains (losses) recognized in other non-interest income:
Customer accommodation:
Interest rate contracts	$	40	$	32	$	15
Commodity contracts	49		28		32
Foreign exchange and other contracts	14		7		8
Total customer accommodation	103		67		55
Other interest rate exposures	76		(5)		(8)
Other contracts	(38)		(12)		(4)
Total	$	141	$	50	$	43

Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2022

Equity [Abstract]

Schedule of Preferred Stock

The following table summarizes our preferred stock outstanding as of December 31, 2022 and 2021.

Table 10.1: Preferred Stock Outstanding(1)


			Redeemable by Issuer Beginning	Per Annum Dividend Rate	Dividend Frequency	Liquidation Preference per Share		Total Shares Outstanding as of December 31, 2022	Carrying Value (in millions)
Series	Description	Issuance Date							December 31, 2022		December 31, 2021



Series I	5.000% Non-Cumulative	September 11, 2019	December 1, 2024	5.000%	Quarterly	$	1,000	1,500,000	$	1,462	$	1,462
Series J	4.800% Non-Cumulative	January 31, 2020	June 1, 2025	4.800	Quarterly	1,000		1,250,000	1,209		1,209
Series K	4.625% Non-Cumulative	September 17, 2020	December 1, 2025	4.625	Quarterly	1,000		125,000	122		122
Series L	4.375% Non-Cumulative	May 4, 2021	September 1, 2026	4.375	Quarterly	1,000		675,000	652		652
Series M	3.950% Fixed Rate Reset Non-Cumulative	June 10, 2021	September 1, 2026	3.950% through 8/31/2026; resets 9/1/2026 and every subsequent 5 year anniversary at 5-Year Treasury Rate +3.157%	Quarterly	1,000		1,000,000	988		988
Series N	4.250% Non-Cumulative	July 29, 2021	September 1, 2026	4.250%	Quarterly	1,000		425,000	412		412
Total									$	4,845	$	4,845

__________

(1)Except for Series M, ownership is held in the form of depositary shares, each representing a 1/40th interest in a share of fixed-rate non-cumulative perpetual preferred stock.

Change in AOCI Gain (Loss) by Component (Net of Tax)

The following table presents the changes in AOCI by component for the years ended December 31, 2022, 2021 and 2020.

Table 10.2: AOCI



(Dollars in millions)	Securities Available for Sale		Hedging Relationships(1)		Foreign Currency Translation Adjustments (2)		Other		Total
AOCI as of December 31, 2019	$	935	$	354	$	(107)	$	(26)	$	1,156
Cumulative effects from the adoption of the CECL standard	(8)		0		0		0		(8)
Other comprehensive income before reclassifications	1,278		1,401		76		5		2,760
Amounts reclassified from AOCI into earnings	(19)		(393)		0		(2)		(414)
Other comprehensive income, net of tax	1,259		1,008		76		3		2,346
AOCI as of December 31, 2020	2,186		1,362		(31)		(23)		3,494
Other comprehensive income (loss) before reclassifications	(1,887)		(396)		10		7		(2,266)
Amounts reclassified from AOCI into earnings	(2)		(848)		0		(4)		(854)
Other comprehensive income (loss), net of tax	(1,889)		(1,244)		10		3		(3,120)
AOCI as of December 31, 2021	297		118		(21)		(20)		374
Other comprehensive income (loss) before reclassifications	(7,980)		(2,404)		1		(17)		(10,400)
Amounts reclassified from AOCI into earnings	7		104		0		(1)		110
Other comprehensive income (loss), net of tax	(7,973)		(2,300)		1		(18)		(10,290)
AOCI as of December 31, 2022	$	(7,676)	$	(2,182)	$	(20)	$	(38)	$	(9,916)

__________

(1)Includes amounts related to cash flow hedges as well as the excluded component of cross-currency swaps designated as fair value hedges.

Reclassifications from AOCI

The following table presents amounts reclassified from each component of AOCI to our consolidated statements of income for the years ended December 31, 2022, 2021 and 2020.

Table 10.3: Reclassifications from AOCI


(Dollars in millions)		Year Ended December 31,
AOCI Components	Affected Income Statement Line Item		2022		2021		2020
Securities available for sale:
	Non-interest income (loss)		$	(9)	$	2	$	25
	Income tax provision (benefit)		(2)		0		6
	Net income (loss)		(7)		2		19
Hedging relationships:
Interest rate contracts:	Interest income (loss)		(121)		957		566
Foreign exchange contracts:	Interest income		3		1		10
	Interest expense		(3)		(3)		(3)
	Non-interest income (loss)		(17)		163		(57)
	Income (loss) from continuing operations before income taxes		(138)		1,118		516
	Income tax provision (benefit)		(34)		270		123
	Net income (loss)		(104)		848		393
Other:
	Non-interest income and non-interest expense		1		5		2
	Income tax provision (benefit)		0		1		0
	Net income		1		4		2
Total reclassifications			$	(110)	$	854	$	414

Components of Other Comprehensive Income (Loss) and Related Tax Impact

The table below summarizes other comprehensive income (loss) activity and the related tax impact for the years ended December 31, 2022 and 2021 and 2020.

Table 10.4: Other Comprehensive Income (Loss)


	Year Ended December 31,
	2022						2021						2020
(Dollars in millions)	Before Tax		Provision (Benefit)		After Tax		Before Tax		Provision (Benefit)		After Tax		Before Tax		Provision (Benefit)		After Tax
Other comprehensive income (loss):
Net unrealized gains (losses) on securities available for sale	$	(10,516)	$	(2,543)	$	(7,973)	$	(2,486)	$	(597)	$	(1,889)	$	1,659	$	400	$	1,259
Net unrealized gains (losses) on hedging relationships	(3,032)		(732)		(2,300)		(1,640)		(396)		(1,244)		1,329		321		1,008
Foreign currency translation adjustments(1)	98		97		1		17		7		10		56		(20)		76
Other	(24)		(6)		(18)		4		1		3		4		1		3
Other comprehensive loss	$	(13,474)	$	(3,184)	$	(10,290)	$	(4,105)	$	(985)	$	(3,120)	$	3,048	$	702	$	2,346

__________

(1)Includes the impact of hedging instruments designated as net investment hedges.

- Definition

Tabular disclosure of an entity's stock, including par or stated value per share, number and dollar amount of share subscriptions, shares authorized, shares issued, shares outstanding, number and dollar amount of shares held in an employee trust, dividend per share, total dividends, share conversion features, par value plus additional paid in capital, the value of treasury stock and other information necessary to a fair presentation, and EPS information. Stock by class includes common, convertible, and preferred stocks which are not redeemable or redeemable solely at the option of the issuer. Includes preferred stock with redemption features that are solely within the control of the issuer and mandatorily redeemable stock if redemption is required to occur only upon liquidation or termination of the reporting entity. If more than one issue is outstanding, state the title of each issue and the corresponding dollar amount; dollar amount of any shares subscribed but unissued and the deduction of subscriptions receivable there from; number of shares authorized, issued, and outstanding.

+ References

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-Name Accounting Standards Codification
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+ Details

Regulatory and Capital Adequacy (Tables)

12 Months Ended

Dec. 31, 2022

Mortgage Banking [Abstract]

Schedule of Comparison of Capital Ratios

Table 11.1: Capital Ratios Under Basel III(1)


	December 31, 2022					December 31, 2021
(Dollars in millions)	Capital Amount		Capital Ratio	Minimum Capital Adequacy	Well- Capitalized	Capital Amount		Capital Ratio	Minimum Capital Adequacy	Well- Capitalized
Capital One Financial Corp:
Common equity Tier 1 capital(2)	$	44,731	12.5%	4.5%	N/A	$	43,501	13.1%	4.5%	N/A
Tier 1 capital(3)	49,576		13.9	6.0	6.0%	48,346		14.5	6.0	6.0%
Total capital(4)	56,714		15.8	8.0	10.0	56,089		16.9	8.0	10.0
Tier 1 leverage(5)	49,576		11.1	4.0	N/A	48,346		11.6	4.0	N/A
Supplementary leverage(6)	49,576		9.5	3.0	N/A	48,346		9.9	3.0	N/A
CONA:
Common equity Tier 1 capital(2)	46,630		13.1	4.5	6.5	26,699		11.1	4.5	6.5
Tier 1 capital(3)	46,630		13.1	6.0	8.0	26,699		11.1	6.0	8.0
Total capital(4)	51,165		14.4	8.0	10.0	29,449		12.2	8.0	10.0
Tier 1 leverage(5)	46,630		10.5	4.0	5.0	26,699		7.4	4.0	5.0
Supplementary leverage(6)	46,630		9.0	3.0	N/A	26,699		6.6	3.0	N/A

__________

(1)Capital requirements that are not applicable are denoted by “N/A.”

(2)Common equity Tier 1 capital ratio is a regulatory capital measure calculated based on common equity Tier 1 capital divided by risk-weighted assets.

(3)Tier 1 capital ratio is a regulatory capital measure calculated based on Tier 1 capital divided by risk-weighted assets.

(4)Total capital ratio is a regulatory capital measure calculated based on total capital divided by risk-weighted assets.

(5)Tier 1 leverage ratio is a regulatory capital measure calculated based on Tier 1 capital divided by adjusted average assets.

(6)Supplementary leverage ratio is a regulatory capital measure calculated based on Tier 1 capital divided by total leverage exposure.

Earnings Per Common Share (Tables)

12 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

Schedule of Computation of Basic and Diluted Earnings Per Common Share

Table 12.1: Computation of Basic and Diluted Earnings per Common Share


	Year Ended December 31,
(Dollars and shares in millions, except per share data)		2022		2021		2020
Income from continuing operations, net of tax		$	7,360	$	12,394	$	2,717
Income (loss) from discontinued operations, net of tax		0		(4)		(3)
Net income		7,360		12,390		2,714
Dividends and undistributed earnings allocated to participating securities		(88)		(105)		(20)
Preferred stock dividends		(228)		(274)		(280)
Issuance cost for redeemed preferred stock		0		(46)		(39)
Net income available to common stockholders		$	7,044	$	11,965	$	2,375

Total weighted-average basic common shares outstanding		391.8		442.5		457.8
Effect of dilutive securities:(1)
Stock options		0.3		0.7		0.6
Other contingently issuable shares		1.1		1.0		0.5
Total effect of dilutive securities		1.4		1.7		1.1
Total weighted-average diluted common shares outstanding		393.2		444.2		458.9
Basic earnings per common share:
Net income from continuing operations		$	17.98	$	27.05	$	5.20
Income (loss) from discontinued operations		0.00		(0.01)		(0.01)
Net income per basic common share		$	17.98	$	27.04	$	5.19
Diluted earnings per common share:(1)
Net income from continuing operations		$	17.91	$	26.95	$	5.19
Income (loss) from discontinued operations		0.00		(0.01)		(0.01)
Net income per diluted common share		$	17.91	$	26.94	$	5.18

__________

Stock-Based Compensation Plans (Tables)

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement [Abstract]

Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity

The following table presents a summary of 2022 activity for RSUs and PSUs.

Table 13.1: Summary of Restricted Stock Units and Performance Share Units


	Restricted Stock Units			Performance Share Units(1)
(Shares/units in thousands)	Units	Weighted-Average Grant Date Fair Value per Unit		Units	Weighted-Average Grant Date Fair Value per Unit
Unvested as of January 1, 2022	4,110	$	104.50	1,765	$	102.84
Granted(2)	2,987	141.71		870	139.00
Vested	(1,696)	103.43		(888)	93.37
Forfeited	(345)	132.68		(44)	129.28
Unvested as of December 31, 2022	5,056	$	124.92	1,703	$	125.55

_________

(1)Granted and vested include adjustments for achievement of specific performance goals for performance share units granted in prior periods.

Summary of Stock Option Activity

The following table presents a summary of 2022 activity for stock options and the balance of stock options exercisable as of December 31, 2022.

Table 13.2: Summary of Stock Options Activity


(Shares in thousands, and intrinsic value in millions)	Shares Subject to Options	Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding as of January 1, 2022	875	$	67.92
Granted	0	0.00
Exercised	(334)	56.26
Forfeited	0	0.00
Expired	0	0.00
Outstanding and Exercisable as of December 31, 2022	541	$	75.12	2.80 years	$	10

Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2022

Retirement Benefits [Abstract]

Schedule of Changes in Benefit Obligation and Plan Assets

Table 14.1: Changes in Benefit Obligation and Plan Assets


	Defined Pension Benefits				Other Postretirement Benefits
(Dollars in millions)	2022		2021		2022		2021
Change in benefit obligation:
Accumulated benefit obligation as of January 1,	$	163	$	178	$	16	$	21
Service cost	1		1		0		0
Interest cost	4		4		0		0
Benefits paid	(11)		(12)		(1)		(2)
Actuarial loss (gain)	(29)		(8)		(3)		(3)
Accumulated benefit obligation as of December 31,	$	128	$	163	$	12	$	16
Change in plan assets:
Fair value of plan assets as of January 1,	$	273	$	274	$	6	$	6
Actual return on plan assets	(41)		10		(1)		1
Employer contributions	1		1		1		1
Benefits paid	(11)		(12)		(1)		(2)
Fair value of plan assets as of December 31,	$	222	$	273	$	5	$	6
Over (under) funded status as of December 31,	$	94	$	110	$	(7)	$	(10)


	Defined Pension Benefits				Other Postretirement Benefits
(Dollars in millions)	2022		2021		2022		2021
Balance sheet presentation as of December 31,
Other assets	$	102	$	121	$	0	$	0
Other liabilities	(8)		(11)		(7)		(10)
Net amount recognized as of December 31,	$	94	$	110	$	(7)	$	(10)

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of Significant Components of Provision for Income Taxes Attributable to Continuing Operations

The following table presents significant components of the provision for income taxes attributable to continuing operations for the years ended December 31, 2022, 2021 and 2020.

Table 15.1: Significant Components of the Provision for Income Taxes Attributable to Continuing Operations


	Year Ended December 31,
(Dollars in millions)	2022		2021		2020
Current income tax provision:
Federal taxes	$	2,125	$	2,173	$	1,676
State taxes	423		485		370
International taxes	104		152		67
Total current provision	$	2,652	$	2,810	$	2,113
Deferred income tax provision (benefit):
Federal taxes	$	(662)	$	490	$	(1,357)
State taxes	(112)		91		(266)
International taxes	2		24		(4)
Total deferred provision (benefit)	(772)		605		(1,627)
Total income tax provision	$	1,880	$	3,415	$	486

Schedule of Effective Income Tax Rate

Table 15.2: Effective Income Tax Rate


	Year Ended December 31,
	2022		2021		2020
Income tax at U.S. federal statutory tax rate	21.0	%	21.0	%	21.0	%
State taxes, net of federal benefit	3.1		3.1		3.5
Non-deductible expenses	0.6		0.4		3.2
Affordable housing, new markets and other tax credits	(4.2)		(2.3)		(11.4)
Tax-exempt interest and other nontaxable income	(0.4)		(0.3)		(1.7)

Changes in valuation allowance	1.0		0.4		2.3
Other, net	(0.8)		(0.7)		(1.7)
Effective income tax rate	20.3	%	21.6	%	15.2	%

Schedule of Significant Components of Deferred Tax Assets and Liabilities

Table 15.3: Significant Components of Deferred Tax Assets and Liabilities


(Dollars in millions)	December 31, 2022		December 31, 2021
Deferred tax assets:
Allowance for credit losses	$	3,025	$	2,657
Security and loan valuations	2,497		0
Rewards programs	790		825
Net unrealized loss on derivatives	689		0
Net operating loss and tax credit carryforwards	437		367
Compensation and employee benefits	411		337
Lease liabilities	346		345




Partnership investments	253		238
Other assets	507		359
Subtotal	8,955		5,128
Valuation allowance	(446)		(355)
Total deferred tax assets	8,509		4,773
Deferred tax liabilities:
Right-of-use assets	284		284
Original issue discount	241		361
Partnership investments	119		128
Mortgage servicing rights	95		88
Security and loan valuations	0		49


Net unrealized gains on derivatives	0		32
Other liabilities	111		123
Total deferred tax liabilities	850		1,065
Net deferred tax assets	$	7,659	$	3,708

_________

Schedule of Reconciliation of Change in Unrecognized Tax Benefits

The following table presents the accrued balance of tax, interest and penalties related to unrecognized tax benefits.

Table 15.4: Reconciliation of the Change in Unrecognized Tax Benefits


(Dollars in millions)	Gross Unrecognized Tax Benefits		Accrued Interest and Penalties		Gross Tax, Interest and Penalties
Balance as of January 1, 2020	$	431	$	31	$	462
Additions for tax positions related to the current year	33		0		33
Additions for tax positions related to prior years	3		21		24
Reductions for tax positions related to prior years due to IRS and other settlements	(16)		(6)		(22)
Balance as of December 31, 2020	451		46		497

Additions for tax positions related to prior years	1		4		5
Reductions for tax positions related to prior years due to IRS and other settlements	(47)		(36)		(83)
Balance as of December 31, 2021	405		14		419
Additions for tax positions related to the current year	3		0		3
Additions for tax positions related to prior years	14		6		20
Reductions for tax positions related to prior years due to IRS and other settlements	(381)		(10)		(391)
Balance as of December 31, 2022	$	41	$	10	$	51
Portion of balance at December 31, 2022 that, if recognized, would impact the effective income tax rate	$	32	$	8	$	40

Fair Value Measurement (Tables)

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table displays our assets and liabilities measured on our consolidated balance sheets at fair value on a recurring basis as of December 31, 2022 and 2021.

Table 16.1: Assets and Liabilities Measured at Fair Value on a Recurring Basis


	December 31, 2022
	Fair Value Measurements Using						Netting Adjustments(1)
(Dollars in millions)	Level 1		Level 2		Level 3				Total
Assets:
Securities available for sale:
U.S. Treasury securities	$	5,041	$	0	$	0	—		$	5,041
RMBS	0		62,353		236		—		62,589
CMBS	0		7,728		142		—		7,870
Other securities	186		1,233		0		—		1,419
Total securities available for sale	5,227		71,314		378		—		76,919
Loans held for sale	0		191		0		—		191
Other assets:
Derivative assets(2)	474		2,545		79		$	(1,134)	1,964
Other(3)	464		3		36		—		503
Total assets	$	6,165	$	74,053	$	493	$	(1,134)	$	79,577
Liabilities:
Other liabilities:
Derivative liabilities(2)	$	823	$	3,653	$	74	$	(1,235)	$	3,315
Total liabilities	$	823	$	3,653	$	74	$	(1,235)	$	3,315


	December 31, 2021
	Fair Value Measurements Using						Netting Adjustments(1)
(Dollars in millions)	Level 1		Level 2		Level 3				Total
Assets:
Securities available for sale:
U.S. Treasury securities	$	9,442	$	0	$	0	—		$	9,442
RMBS	0		73,358		258		—		73,616
CMBS	0		9,360		9		—		9,369
Other securities	206		2,628		0		—		2,834
Total securities available for sale	9,648		85,346		267		—		95,261
Loans held for sale	0		1,026		0		—		1,026
Other assets:
Derivative assets(2)	406		2,200		84		$	(542)	2,148
Other(3)	526		6		41		—		573
Total assets	$	10,580	$	88,578	$	392	$	(542)	$	99,008
Liabilities:
Other liabilities:
Derivative liabilities(2)	$	838	$	965	$	65	$	(544)	$	1,324
Total liabilities	$	838	$	965	$	65	$	(544)	$	1,324

__________

Schedule of Level 3 Inputs Reconciliation

Table 16.2: Level 3 Recurring Fair Value Rollforward


	Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
	Year Ended December 31, 2022
			Total Gains (Losses) (Realized/Unrealized)																		Net Unrealized Gains (Losses) Included in Net Income Related to Assets and Liabilities Still Held as of December 31, 2022(1)
(Dollars in millions)	Balance, January 1, 2022		Included in Net Income(1)		Included in OCI		Purchases		Sales		Issuances		Settlements		Transfers Into Level 3		Transfers Out of Level 3		Balance, December 31, 2022
Securities available for sale:(2)
RMBS	$	258	$	18	$	(32)	$	0	$	0	$	0	$	(60)	$	123	$	(71)	$	236	$	10
CMBS	9		(1)		(3)		0		0		0		(15)		190		(38)		142		(1)

Total securities available for sale	267		17		(35)		0		0		0		(75)		313		(109)		378		9
Other assets:

Retained interests in securitizations	41		(5)		0		0		0		0		0		0		0		36		(5)
Net derivative assets (liabilities)(3)	19		(65)		0		0		0		36		3		(28)		40		5		(33)


	Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
	Year Ended December 31, 2021
			Total Gains (Losses) (Realized/Unrealized)																		Net Unrealized Gains (Losses) Included in Net Income Related to Assets and Liabilities Still Held as of December 31, 2021(1)
(Dollars in millions)	Balance, January 1, 2021		Included in Net Income(1)		Included in OCI		Purchases		Sales		Issuances		Settlements		Transfers Into Level 3		Transfers Out of Level 3		Balance, December 31, 2021
Securities available for sale:(2)
RMBS	$	328	$	18	$	5	$	0	$	0	$	0	$	(91)	$	106	$	(108)	$	258	$	15
CMBS	111		0		(2)		0		0		0		(7)		0		(93)		9		0

Total securities available for sale	439		18		3		0		0		0		(98)		106		(201)		267		15
Other assets:

Retained interests in securitizations	55		(14)		0		0		0		0		0		0		0		41		(14)
Net derivative assets (liabilities)(3)	31		(43)		0		0		0		68		(37)		6		(6)		19		(20)


	Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
	Year Ended December 31, 2020
			Total Gains (Losses) (Realized/Unrealized)																		Net Unrealized Gains (Losses) Included in Net Income Related to Assets and Liabilities Still Held as of December 31, 2020(1)
(Dollars in millions)	Balance, January 1, 2020		Included in Net Income(1)		Included in OCI		Purchases		Sales		Issuances		Settlements		Transfers Into Level 3		Transfers Out of Level 3		Balance, December 31, 2020
Securities available for sale:(2)(4)
RMBS	$	433	$	22	$	(19)	$	0	$	0	$	0	$	(72)	$	206	$	(242)	$	328	$	16
CMBS	13		(3)		(9)		0		0		0		(32)		371		(229)		111		0

Total securities available for sale	446		19		(28)		0		0		0		(104)		577		(471)		439		16
Other assets:

Retained interests in securitizations	66		(11)		0		0		0		0		0		0		0		55		(11)
Net derivative assets (liabilities)(3)	26		10		0		0		0		43		(37)		0		(11)		31		10

_________

(4)The fair value of RMBS as of January 1, 2020 includes a cumulative adjustment of $4 million from the adoption of the CECL standard.

Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis Quantitative Information

Table 16.3: Quantitative Information about Level 3 Fair Value Measurements

Quantitative Information about Level 3 Fair Value Measurements

(Dollars in millions)

Fair Value at
December 31,
2022

Significant
Valuation
Techniques

Significant
Unobservable
Inputs

Range

Weighted

Average(1)

Securities available for sale:

RMBS

236

Discounted cash flows (vendor pricing)

Yield
Voluntary prepayment rate
Default rate
Loss severity

3-12%

4-20%

0-11%

30-80%

58%

CMBS

142

Discounted cash flows (vendor pricing)

Yield

4-5%

Other assets:

Retained interests in securitizations(2)

Discounted cash flows

Life of receivables (months)
Voluntary prepayment rate
Discount rate
Default rate
Loss severity

30-43

9-18%

4-7%

62-291%

N/A

Net derivative assets (liabilities)

Discounted cash flows

Swap rates

3-4%

Quantitative Information about Level 3 Fair Value Measurements

(Dollars in millions)

Fair Value at
December 31,
2021

Significant
Valuation
Techniques

Significant
Unobservable
Inputs

Range

Weighted

Average(1)

Securities available for sale:

RMBS

258

Discounted cash flows (vendor pricing)

Yield
Voluntary prepayment rate
Default rate
Loss severity

0-21%

5-40%

1-11%

30-100%

11%

65%

CMBS

Discounted cash flows (vendor pricing)

Yield

1-2%

Other assets:

Retained interests in securitizations(2)

Discounted cash flows

Life of receivables (months)
Voluntary prepayment rate
Discount rate
Default rate
Loss severity

29-36

9-18%

2-8%

3-4%

72-151%

N/A

Net derivative assets (liabilities)

Discounted cash flows

Swap rates

1-2%

__________

(1)Weighted averages are calculated by using the product of the input multiplied by the relative fair value of the instruments.

Schedule of Assets Measured at Fair Value on Nonrecurring Basis

Table 16.4: Nonrecurring Fair Value Measurements


	December 31, 2022
	Estimated Fair Value Hierarchy				Total
(Dollars in millions)	Level 2		Level 3
Loans held for investment	$	0	$	284	$	284
Loans held for sale	11		0		11
Other assets(1)	0		220		220
Total	$	11	$	504	$	515


	December 31, 2021
	Estimated Fair Value Hierarchy				Total
(Dollars in millions)	Level 2		Level 3
Loans held for investment	$	0	$	194	$	194
Loans held for sale	118		0		118
Other assets(1)	0		325		325
Total	$	118	$	519	$	637

__________

Schedule of Earnings Related to Assets Measured at Fair Value on Nonrecurring Basis

Table 16.5: Nonrecurring Fair Value Measurements Included in Earnings


	Total Gains (Losses)
	Year Ended December 31,
(Dollars in millions)	2022		2021
Loans held for investment	$	30	$	2

Other assets(1)	(38)		(72)
Total	$	(8)	$	(70)

__________

Schedule of Fair Value of Financial Instruments

Table 16.6: Fair Value of Financial Instruments


	December 31, 2022
	Carrying Value		Estimated Fair Value		Estimated Fair Value Hierarchy
(Dollars in millions)					Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	30,856	$	30,856	$	5,193	$	25,663	$	0
Restricted cash for securitization investors	400		400		400		0		0

Net loans held for investment	299,091		302,920		0		0		302,920
Loans held for sale	11		11		0		11		0
Interest receivable	2,104		2,104		0		2,104		0
Other investments(1)	1,326		1,326		0		1,326		0
Financial liabilities:
Deposits with defined maturities	45,858		45,531		0		45,531		0
Securitized debt obligations	16,973		16,918		0		16,918		0
Senior and subordinated notes	30,826		30,744		0		30,744		0
Federal funds purchased and securities loaned or sold under agreements to repurchase	883		883		0		883		0

Interest payable	527		527		0		527		0


	December 31, 2021
	Carrying Value		Estimated Fair Value		Estimated Fair Value Hierarchy
(Dollars in millions)					Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	21,746	$	21,746	$	4,164	$	17,582	$	0
Restricted cash for securitization investors	308		308		308		0		0
Net loans held for investment	265,910		270,508		0		0		270,508
Loans held for sale	4,862		5,091		0		5,091		0
Interest receivable	1,460		1,460		0		1,460		0
Other investments(1)	1,344		1,344		0		1,344		0
Financial liabilities:
Deposits with defined maturities	17,923		18,062		0		18,062		0
Securitized debt obligations	14,994		15,122		0		15,122		0
Senior and subordinated notes	27,219		27,842		0		27,842		0
Federal funds purchased and securities loaned or sold under agreements to repurchase	820		820		0		820		0

Interest payable	281		281		0		281		0

__________

(1)Other investments include FHLB and Federal Reserve stock. These investments are included in other assets on our consolidated balance sheets.

Business Segments and Revenue from Contracts with Customers (Tables)

12 Months Ended

Dec. 31, 2022

Dec. 31, 2020

Segment Reporting [Abstract]

Schedule of Segment Results and Reconciliation

The following table presents our business segment results for the years ended December 31, 2022, 2021 and 2020, selected balance sheet data as of December 31, 2022 and 2021, and a reconciliation of our total business segment results to our reported consolidated income from continuing operations, loans held for investment and deposits.

Table 17.1: Segment Results and Reconciliation


	Year Ended December 31, 2022
(Dollars in millions)	Credit Card		Consumer Banking		Commercial Banking(1)		Other(1)		Consolidated Total
Net interest income (loss)	$	16,584	$	8,965	$	2,461	$	(896)	$	27,114
Non-interest income (loss)	5,771		469		1,129		(233)		7,136
Total net revenue (loss)(2)	22,355		9,434		3,590		(1,129)		34,250
Provision (benefit) for credit losses	4,265		1,173		415		(6)		5,847
Non-interest expense	11,627		5,312		2,070		154		19,163
Income (loss) from continuing operations before income taxes	6,463		2,949		1,105		(1,277)		9,240
Income tax provision (benefit)	1,536		699		262		(617)		1,880
Income (loss) from continuing operations, net of tax	$	4,927	$	2,250	$	843	$	(660)	$	7,360
Loans held for investment	$	137,730	$	79,925	$	94,676	$	0	$	312,331
Deposits	0		270,592		40,808		21,592		332,992


	Year Ended December 31, 2021
(Dollars in millions)	Credit Card		Consumer Banking		Commercial Banking(1)		Other(1)		Consolidated Total
Net interest income (loss)	$	14,074	$	8,448	$	2,153	$	(504)	$	24,171
Non-interest income (loss)	4,806		554		1,148		(244)		6,264
Total net revenue (loss)(2)	18,880		9,002		3,301		(748)		30,435
Benefit for credit losses	(902)		(521)		(519)		(2)		(1,944)
Non-interest expense	9,621		4,711		1,815		423		16,570
Income (loss) from continuing operations before income taxes	10,161		4,812		2,005		(1,169)		15,809
Income tax provision (benefit)	2,403		1,136		473		(597)		3,415
Income (loss) from continuing operations, net of tax	$	7,758	$	3,676	$	1,532	$	(572)	$	12,394
Loans held for investment	$	114,772	$	77,646	$	84,922	$	0	$	277,340
Deposits	0		256,407		44,809		9,764		310,980


	Year Ended December 31, 2020
(Dollars in millions)	Credit Card		Consumer Banking		Commercial Banking(1)		Other(1)		Consolidated Total
Net interest income (loss)	$	13,776	$	7,238	$	2,048	$	(149)	$	22,913
Non-interest income	3,823		466		923		398		5,610
Total net revenue(2)	17,599		7,704		2,971		249		28,523
Provision for credit losses	7,327		1,753		1,181		3		10,264
Non-interest expense	8,491		4,159		1,706		700		15,056
Income (loss) from continuing operations before income taxes	1,781		1,792		84		(454)		3,203
Income tax provision (benefit)	420		425		19		(378)		486
Income (loss) from continuing operations, net of tax	$	1,361	$	1,367	$	65	$	(76)	$	2,717
Loans held for investment	$	106,956	$	68,888	$	75,780	$	0	$	251,624
Deposits	0		249,815		39,590		16,037		305,442

__________

Disaggregation of Revenue

The following table presents revenue from contracts with customers and a reconciliation to non-interest income by business segment for the years ended December 31, 2022, 2021 and 2020.

Table 17.2: Revenue from Contracts with Customers and Reconciliation to Segment Results


	Year Ended December 31, 2022
(Dollars in millions)	Credit Card		Consumer Banking		Commercial Banking(1)		Other(1)		Consolidated Total
Contract revenue:
Interchange fees, net(2)	$	4,178	$	320	$	109	$	(1)	$	4,606
Service charges and other customer-related fees	0		91		236		0		327
Other	395		74		16		(1)		484
Total contract revenue (loss)	4,573		485		361		(2)		5,417
Revenue (reduction) from other sources	1,198		(16)		768		(231)		1,719
Total non-interest income (loss)	$	5,771	$	469	$	1,129	$	(233)	$	7,136


	Year Ended December 31, 2021
(Dollars in millions)	Credit Card		Consumer Banking		Commercial Banking(1)		Other(1)		Consolidated Total
Contract revenue:
Interchange fees, net(2)	$	3,497	$	267	$	96	$	0	$	3,860
Service charges and other customer-related fees	0		171		287		(1)		457
Other	383		75		5		0		463
Total contract revenue (loss)	3,880		513		388		(1)		4,780
Revenue (reduction) from other sources	926		41		760		(243)		1,484
Total non-interest income (loss)	$	4,806	$	554	$	1,148	$	(244)	$	6,264


	Year Ended December 31, 2020
(Dollars in millions)	Credit Card		Consumer Banking		Commercial Banking(1)		Other(1)		Consolidated Total
Contract revenue:
Interchange fees, net(2)	$	2,747	$	209	$	63	$	(2)	$	3,017
Service charges and other customer-related fees	0		188		175		(1)		362
Other	315		39		4		0		358
Total contract revenue (loss)	3,062		436		242		(3)		3,737
Revenue from other sources	761		30		681		401		1,873
Total non-interest income	$	3,823	$	466	$	923	$	398	$	5,610

__________

(2)Interchange fees are presented net of customer reward expenses of $7.6 billion, $6.4 billion and $4.9 billion for the years ended December 31, 2022, 2021 and 2020, respectively.

Commitments, Contingencies, Guarantees, and Others (Tables)

12 Months Ended

Dec. 31, 2022

Commitments and Contingencies Disclosure [Abstract]

Schedule of Letter of Credit and Other Loan Commitments

Table 18.1: Unfunded Lending Commitments


	Contractual Amount				Carrying Value
(Dollars in millions)	December 31, 2022		December 31, 2021		December 31, 2022		December 31, 2021
Credit card lines	$	359,507	$	368,508	N/A		N/A
Other loan commitments(1)	48,405		44,572		$	176	$	125
Standby letters of credit and commercial letters of credit(2)	1,402		1,419		28		24
Total unfunded lending commitments	$	409,314	$	414,499	$	204	$	149

__________

(1)Includes $4.4 billion and $3.9 billion of advised lines of credit as of December 31, 2022 and 2021, respectively.

(2)These financial guarantees have expiration dates that range from 2022 to 2027 as of December 31, 2022.

Capital One Financial Corporation (Parent Company Only) (Tables)

12 Months Ended

Dec. 31, 2022

Condensed Financial Information Disclosure [Abstract]

Condensed Income Statement

The following parent company only financial statements are prepared in accordance with Regulation S-X of the U.S. Securities and Exchange Commission (“SEC”).

Table 19.1: Parent Company Statements of Income


	Year Ended December 31,
(Dollars in millions)	2022		2021		2020
Interest income	$	595	$	151	$	186
Interest expense	969		392		510
Benefit for Credit Losses	(1)		(1)		0
Dividends from subsidiaries	4,352		13,970		3,003
Non-interest income (loss)	(15)		(26)		(127)
Non-interest expense	35		36		33
Income before income taxes and equity in undistributed earnings of subsidiaries	3,929		13,668		2,519
Income tax benefit	(181)		(82)		(93)
Equity in undistributed earnings of subsidiaries	3,250		(1,360)		102
Net income	7,360		12,390		2,714
Other comprehensive income (loss), net of tax	(10,290)		(3,120)		2,346
Comprehensive income	$	(2,930)	$	9,270	$	5,060

Condensed Balance Sheet

Table 19.2: Parent Company Balance Sheets


(Dollars in millions)	December 31, 2022		December 31, 2021
Assets:
Cash and cash equivalents	$	22,006	$	16,910
Investments in subsidiaries	50,523		57,600
Loans to subsidiaries	6,710		7,849
Securities available for sale	395		513
Other assets	2,281		1,330
Total assets	$	81,915	$	84,202

Liabilities:
Senior and subordinated notes	$	28,970	$	23,017

Accrued expenses and other liabilities	363		156
Total liabilities	29,333		23,173
Total stockholders’ equity	52,582		61,029
Total liabilities and stockholders’ equity	$	81,915	$	84,202

Condensed Cash Flow Statement

Table 19.3: Parent Company Statements of Cash Flows


	Year Ended December 31,
(Dollars in millions)	2022		2021		2020
Operating activities:
Net income	$	7,360	$	12,390	$	2,714
Adjustments to reconcile net income to net cash from operating activities:
Equity in undistributed earnings of subsidiaries	(3,250)		1,360		(102)
Other operating activities	(2,429)		(4,523)		1,217
Net cash from operating activities	1,681		9,227		3,829
Investing activities:
Changes in investments in subsidiaries	0		3,521		(217)
Proceeds from paydowns and maturities of securities available for sale	96		141		117
Purchases of securities available for sale	(10)		—		—
Changes in loans to subsidiaries	1,139		(1,925)		(2,019)
Net cash from investing activities	1,225		1,737		(2,119)
Financing activities:
Borrowings:

Issuance of senior and subordinated notes	9,271		4,487		1,991
Maturities and paydowns of senior and subordinated notes	(1,250)		(2,750)		(2,900)
Common stock:
Net proceeds from issuances	276		253		241
Dividends paid	(950)		(1,148)		(460)
Preferred stock:
Net proceeds from issuances	0		2,052		1,330
Dividends paid	(228)		(274)		(280)
Redemptions	0		(2,100)		(1,375)
Purchases of treasury stock	(4,948)		(7,605)		(393)
Proceeds from share-based payment activities	19		55		62
Net cash from financing activities	2,190		(7,030)		(1,784)
Changes in cash and cash equivalents	5,096		3,934		(74)
Cash and cash equivalents, beginning of the period	16,910		12,976		13,050
Cash and cash equivalents, end of the period	$	22,006	$	16,910	$	12,976

Summary of Significant Accounting Policies - Segments (Details)	12 Months Ended
	Dec. 31, 2022 segment
Accounting Policies [Abstract]
Number of operating segments	3
Number of Reporting Units	4

Summary of Significant Accounting Policies - Loans and Allowance for Credit Losses (Details)	12 Months Ended
	Dec. 31, 2022
Financing Receivable, Allowance for Credit Loss [Line Items]
Loan origination fees and direct loan origination costs amortization period	12 months
Threshold period past due for delinquency status of financing receivables	30 days
Credit Card
Financing Receivable, Allowance for Credit Loss [Line Items]
Loan origination fees and direct loan origination costs amortization period	12 months
Threshold period past due for write-off of trade accounts receivable	180 days
Credit Card \| Privileges Revoked
Financing Receivable, Allowance for Credit Loss [Line Items]
Threshold period past due for write-off of trade accounts receivable	120 days
Credit Card \| Notification of Death
Financing Receivable, Allowance for Credit Loss [Line Items]
Threshold period past due for write-off of trade accounts receivable	5 days
Credit Card \| Chapter Seven Bankruptcy
Financing Receivable, Allowance for Credit Loss [Line Items]
Threshold period past due for write-off of trade accounts receivable	30 days
Consumer Banking
Financing Receivable, Allowance for Credit Loss [Line Items]
Threshold period past due for nonperforming status of financing receivables	90 days
Consumer Banking \| Notification of Death
Financing Receivable, Allowance for Credit Loss [Line Items]
Threshold period past due for nonperforming status of financing receivables	60 days
Consumer Banking \| Chapter Seven Bankruptcy
Financing Receivable, Allowance for Credit Loss [Line Items]
Threshold period past due for nonperforming status of financing receivables	60 days
Consumer Banking \| Auto
Financing Receivable, Allowance for Credit Loss [Line Items]
Threshold period past due for nonperforming status of financing receivables	120 days
Consumer Banking \| Small Business Banking Loans \| Maximum
Financing Receivable, Allowance for Credit Loss [Line Items]
Threshold period past due for nonperforming status of financing receivables	120 days
Consumer Banking \| Other Consumer Loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Threshold period past due for nonperforming status of financing receivables	40 days

Summary of Significant Accounting Policies - Useful Lives for Premises and Equipment (Details)	12 Months Ended
	Dec. 31, 2022
Buildings and improvements \| Minimum
Property, Plant and Equipment [Line Items]
Useful Lives, years	5 years
Buildings and improvements \| Maximum
Property, Plant and Equipment [Line Items]
Useful Lives, years	39 years
Furniture and equipment \| Minimum
Property, Plant and Equipment [Line Items]
Useful Lives, years	3 years
Furniture and equipment \| Maximum
Property, Plant and Equipment [Line Items]
Useful Lives, years	10 years
Computers and software \| Minimum
Property, Plant and Equipment [Line Items]
Useful Lives, years	3 years
Computers and software \| Maximum
Property, Plant and Equipment [Line Items]
Useful Lives, years	3 years

Summary of Significant Accounting Policies - Revenue Recognition (Details)	12 Months Ended
	Dec. 31, 2022
Financing Receivable, Allowance for Credit Loss [Line Items]
Loan origination fees and direct loan origination costs amortization period	12 months
Credit Card
Financing Receivable, Allowance for Credit Loss [Line Items]
Loan origination fees and direct loan origination costs amortization period	12 months
Amortization term of annual membership fees	12 months

Summary of Significant Accounting Policies - Arrangements (Details) - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Collaborative Arrangement
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Reduction of interest income	$ 1.0	$ 1.1

Summary of Significant Accounting Policies Newly Adopted Accounting Standards (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit loss	$ 13,240	$ 11,430
Retained earnings	57,184	51,006
Allowance for credit losses
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit loss	$ 13,240	$ 11,430	$ 15,564	$ 7,208

Investment Securities Additional Information (Details) - USD ($) $ in Millions			12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Accrued interest receivable	$ 215	$ 207
Proceeds from sales			$ 2,570	$ 2,776	$ 812
Debt Securities, Available-for-sale, Realized Gain (Loss)			(9)	2	25
Security Owned and Pledged as Collateral, Associated Liabilities, Fair Value	21,300	20,800	21,300	20,800
Securities Received as Collateral	$ 82	$ 1	82	1
Debt Securities, Available-for-Sale, Realized Gain			$ 1	$ 10	$ 25

Investment Securities - Investment Available for Sale (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 87,047	$ 94,871
Allowance for Credit Losses	(3)	(1)
Gross Unrealized Gains	154	1,387
Gross Unrealized Losses	(10,279)	(996)
Securities available for sale (amortized cost of $87.0 billion and $94.9 billion and allowance for credit losses of $3 million and $1 million as of December 31, 2022 and 2021, respectively)	76,919	95,261
U.S. Treasury securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	5,129	9,419
Allowance for Credit Losses	0	0
Gross Unrealized Gains	2	23
Gross Unrealized Losses	(90)	0
Securities available for sale (amortized cost of $87.0 billion and $94.9 billion and allowance for credit losses of $3 million and $1 million as of December 31, 2022 and 2021, respectively)	5,041	9,442
RMBS, Agency
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	71,212	72,593
Allowance for Credit Losses	0	0
Gross Unrealized Gains	53	958
Gross Unrealized Losses	(9,413)	(931)
Securities available for sale (amortized cost of $87.0 billion and $94.9 billion and allowance for credit losses of $3 million and $1 million as of December 31, 2022 and 2021, respectively)	61,852	72,620
RMBS, Non-agency
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	653	792
Allowance for Credit Losses	(3)	(1)
Gross Unrealized Gains	93	205
Gross Unrealized Losses	(6)	0
Securities available for sale (amortized cost of $87.0 billion and $94.9 billion and allowance for credit losses of $3 million and $1 million as of December 31, 2022 and 2021, respectively)	737	996
RMBS
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	71,865	73,385
Allowance for Credit Losses	(3)	(1)
Gross Unrealized Gains	146	1,163
Gross Unrealized Losses	(9,419)	(931)
Securities available for sale (amortized cost of $87.0 billion and $94.9 billion and allowance for credit losses of $3 million and $1 million as of December 31, 2022 and 2021, respectively)	62,589	73,616
CMBS, Agency
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	8,626	9,237
Allowance for Credit Losses	0	0
Gross Unrealized Gains	4	195
Gross Unrealized Losses	(760)	(63)
Securities available for sale (amortized cost of $87.0 billion and $94.9 billion and allowance for credit losses of $3 million and $1 million as of December 31, 2022 and 2021, respectively)	7,870	9,369
Other securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	1,427	2,830
Allowance for Credit Losses	0	0
Gross Unrealized Gains	2	6
Gross Unrealized Losses	(10)	(2)
Securities available for sale (amortized cost of $87.0 billion and $94.9 billion and allowance for credit losses of $3 million and $1 million as of December 31, 2022 and 2021, respectively)	1,419	2,834
Asset-backed Securities
Debt Securities, Available-for-sale [Line Items]
Securities available for sale (amortized cost of $87.0 billion and $94.9 billion and allowance for credit losses of $3 million and $1 million as of December 31, 2022 and 2021, respectively)	$ 707	$ 2,000
US Treasury and Agency securities \| Available-for-sale securities \| Government Contracts Concentration Risk
Debt Securities, Available-for-sale [Line Items]
Percentage of portfolio	97.00%	96.00%

Investment Securities - Securities in Gross Unrealized Loss Position (Details) $ in Millions	Dec. 31, 2022 USD ($) security	Dec. 31, 2021 USD ($) security
Debt Securities, Available-for-sale [Line Items]
Fair Value - Less than 12 Months	$ 30,629	$ 41,701
Fair Value - 12 Months or Longer	40,544	9,410
Fair Value - Total	71,173	51,111
Gross Unrealized Loss - Less than 12 Months	(2,141)	(670)
Gross Unrealized Loss - 12 Months or Longer	(8,133)	(326)
Gross Unrealized Loss - Total	$ (10,274)	$ (996)
Number of securities in gross unrealized loss positions \| security	2,840	740
U.S. Treasury securities
Debt Securities, Available-for-sale [Line Items]
Fair Value - Less than 12 Months	$ 2,464
Fair Value - 12 Months or Longer	448
Fair Value - Total	2,912
Gross Unrealized Loss - Less than 12 Months	(57)
Gross Unrealized Loss - 12 Months or Longer	(33)
Gross Unrealized Loss - Total	(90)
RMBS, Agency
Debt Securities, Available-for-sale [Line Items]
Fair Value - Less than 12 Months	23,271	$ 37,492
Fair Value - 12 Months or Longer	36,803	8,606
Fair Value - Total	60,074	46,098
Gross Unrealized Loss - Less than 12 Months	(1,809)	(632)
Gross Unrealized Loss - 12 Months or Longer	(7,604)	(299)
Gross Unrealized Loss - Total	(9,413)	(931)
RMBS, Non-agency
Debt Securities, Available-for-sale [Line Items]
Fair Value - Less than 12 Months	14	3
Fair Value - 12 Months or Longer	3	1
Fair Value - Total	17	4
Gross Unrealized Loss - Less than 12 Months	(1)	0
Gross Unrealized Loss - 12 Months or Longer	0	0
Gross Unrealized Loss - Total	(1)	0
RMBS
Debt Securities, Available-for-sale [Line Items]
Fair Value - Less than 12 Months	23,285	37,495
Fair Value - 12 Months or Longer	36,806	8,607
Fair Value - Total	60,091	46,102
Gross Unrealized Loss - Less than 12 Months	(1,810)	(632)
Gross Unrealized Loss - 12 Months or Longer	(7,604)	(299)
Gross Unrealized Loss - Total	(9,414)	(931)
CMBS, Agency
Debt Securities, Available-for-sale [Line Items]
Fair Value - Less than 12 Months	4,325	2,999
Fair Value - 12 Months or Longer	3,214	803
Fair Value - Total	7,539	3,802
Gross Unrealized Loss - Less than 12 Months	(267)	(36)
Gross Unrealized Loss - 12 Months or Longer	(493)	(27)
Gross Unrealized Loss - Total	(760)	(63)
Other securities
Debt Securities, Available-for-sale [Line Items]
Fair Value - Less than 12 Months	555	1,207
Fair Value - 12 Months or Longer	76	0
Fair Value - Total	631	1,207
Gross Unrealized Loss - Less than 12 Months	(7)	(2)
Gross Unrealized Loss - 12 Months or Longer	(3)	0
Gross Unrealized Loss - Total	$ (10)	$ (2)

Investment Securities - Contractual Maturities and Weighted-Average Yields of Securities (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Securities available for sale
Due in 1 year or less	$ 720
Due after 1 year through 5 years	8,234
Due after 5 years through 10 years	4,764
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after 10 Years, Fair Value	63,201
Securities available for sale	76,919	$ 95,261
Amortized cost of securities available for sale
Due in 1 year or less	726
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after One Through Five Years, Amortized Cost	8,492
Due after 5 years through 10 years	5,281
Due > 10 Years	72,548
Amortized Cost	$ 87,047	94,871
Weighted average yield for securities available for sale
Due in 1 Year or Less	3.54%
Due > 1 Year through 5 Years	2.12%
Due > 5 Years through 10 Years	2.54%
Due > 10 Years	2.35%
Total weighted average yield	2.34%
U.S. Treasury securities
Securities available for sale
Due in 1 year or less	$ 0
Due after 1 year through 5 years	5,041
Due after 5 years through 10 years	0
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after 10 Years, Fair Value	0
Securities available for sale	5,041	9,442
Amortized cost of securities available for sale
Amortized Cost	5,129	9,419
RMBS, Agency
Securities available for sale
Due in 1 year or less	0
Due after 1 year through 5 years	103
Due after 5 years through 10 years	1,151
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after 10 Years, Fair Value	60,598
Securities available for sale	61,852	72,620
Amortized cost of securities available for sale
Amortized Cost	71,212	72,593
RMBS, Non-agency
Securities available for sale
Due in 1 year or less	0
Due after 1 year through 5 years	0
Due after 5 years through 10 years	0
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after 10 Years, Fair Value	737
Securities available for sale	737	996
Amortized cost of securities available for sale
Amortized Cost	653	792
RMBS
Securities available for sale
Due in 1 year or less	0
Due after 1 year through 5 years	103
Due after 5 years through 10 years	1,151
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after 10 Years, Fair Value	61,335
Securities available for sale	62,589	73,616
Amortized cost of securities available for sale
Amortized Cost	$ 71,865	73,385
Weighted average yield for securities available for sale
Weighted-average expected life	7 years 1 month 6 days
CMBS, Agency
Securities available for sale
Due in 1 year or less	$ 296
Due after 1 year through 5 years	2,125
Due after 5 years through 10 years	3,583
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after 10 Years, Fair Value	1,866
Securities available for sale	7,870	9,369
Amortized cost of securities available for sale
Amortized Cost	$ 8,626	9,237
Weighted average yield for securities available for sale
Weighted-average expected life	5 years
Other securities
Securities available for sale
Due in 1 year or less	$ 424
Due after 1 year through 5 years	965
Due after 5 years through 10 years	30
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after 10 Years, Fair Value	0
Securities available for sale	1,419	2,834
Amortized cost of securities available for sale
Amortized Cost	$ 1,427	$ 2,830

Investment Securities - Realized Gains and Losses on Securities (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Realized gains (losses):
Debt Securities, Available-for-Sale, Realized Gain	$ 1	$ 10	$ 25
Debt Securities, Available-for-sale, Realized Loss	10	8	0
Debt Securities, Available-for-sale, Realized Gain (Loss)	(9)	2	25
Proceeds from sales	$ 2,570	$ 2,776	$ 812

Loans - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Financing Receivable, Allowance for Credit Loss [Line Items]
Accrued interest receivable	$ 1,900	$ 1,200
TDRs	2,700	1,600
Commitments to lend on loans modified in TDRs	$ 219	168
Financing Receivable, Pledged Status [Extensible Enumeration]	Asset Pledged as Collateral [Member]
Net loans held for investment	$ 299,091	265,910
Loans held for sale	203	5,888
Commercial and multifamily real estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Payments for Origination of Mortgage Loans Held-for-sale	8,600	9,100	$ 10,000
Federal Home Loan banks
Financing Receivable, Allowance for Credit Loss [Line Items]
Line of Credit Facility, Remaining Borrowing Capacity	19,900	19,700
Net loans held for investment	9,800	10,300
Federal Reserve Discount Window
Financing Receivable, Allowance for Credit Loss [Line Items]
Line of Credit Facility, Remaining Borrowing Capacity	19,700	19,600
Net loans held for investment	34,100	26,500
Credit Card and Consumer Banking \| Performing
Financing Receivable, Allowance for Credit Loss [Line Items]
TDRs	1,500	1,100
Commercial Banking \| Performing
Financing Receivable, Allowance for Credit Loss [Line Items]
TDRs	595	192
Domestic credit card: \| Domestic Credit Card and Commercial Banking Portfolios [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Revolving loans converted to term during period	$ 441	$ 223

Loans - 90+ Day Delinquent Loans Accruing Interest and Nonperforming Loans (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Financing Receivable, Past Due [Line Items]
90 Days Past Due and Accruing	$ 2,240	$ 1,195
Nonperforming Loans	1,344	1,100
Nonperforming Loans Without an Allowance	$ 548	$ 529
Percentage, 90 Days Past Due and Accruing	0.72%	0.43%
Percentage, Nonperforming Loans	0.43%	0.40%
Percentage, Nonperforming Loans Without an Allowance	0.18%	0.19%
Interest income for loans classified as nonperforming	$ 66	$ 43
Credit Card
Financing Receivable, Past Due [Line Items]
90 Days Past Due and Accruing	2,240	1,192
Nonperforming Loans	9	10
Nonperforming Loans Without an Allowance	0	0
Credit Card \| Domestic credit card:
Financing Receivable, Past Due [Line Items]
90 Days Past Due and Accruing	2,135	1,110
Nonperforming Loans Without an Allowance	0	0
Credit Card \| International card businesses:
Financing Receivable, Past Due [Line Items]
90 Days Past Due and Accruing	105	82
Nonperforming Loans	9	10
Nonperforming Loans Without an Allowance	0	0
Consumer Banking
Financing Receivable, Past Due [Line Items]
90 Days Past Due and Accruing	0	0
Nonperforming Loans	634	391
Nonperforming Loans Without an Allowance	8	4
Consumer Banking \| Auto
Financing Receivable, Past Due [Line Items]
90 Days Past Due and Accruing	0	0
Nonperforming Loans	595	344
Nonperforming Loans Without an Allowance	0	0
Consumer Banking \| Retail banking
Financing Receivable, Past Due [Line Items]
90 Days Past Due and Accruing	0	0
Nonperforming Loans	39	47
Nonperforming Loans Without an Allowance	8	4
Commercial Banking
Financing Receivable, Past Due [Line Items]
90 Days Past Due and Accruing	0	3
Nonperforming Loans	701	699
Nonperforming Loans Without an Allowance	540	525
Commercial Banking \| Commercial and multifamily real estate
Financing Receivable, Past Due [Line Items]
90 Days Past Due and Accruing	0	3
Nonperforming Loans	271	383
Nonperforming Loans Without an Allowance	246	268
Commercial Banking \| Commercial And Industrial [Member]
Financing Receivable, Past Due [Line Items]
90 Days Past Due and Accruing	0	0
Nonperforming Loans	430	316
Nonperforming Loans Without an Allowance	$ 294	$ 257

Loans - Credit Card Delinquency Status (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	$ 312,331	$ 277,340
Credit Card
Financing Receivable, Allowance for Credit Loss [Line Items]
Revolving loans	137,394	114,361
Revolving loans converted to term	336	411
Total	137,730	114,772
Domestic credit card: \| Credit Card
Financing Receivable, Allowance for Credit Loss [Line Items]
Revolving loans	131,284	108,364
Revolving loans converted to term	297	359
Total	131,581	108,723
International card businesses: \| Credit Card
Financing Receivable, Allowance for Credit Loss [Line Items]
Revolving loans	6,110	5,997
Revolving loans converted to term	39	52
Total	6,149	6,049
Current \| Domestic credit card: \| Credit Card
Financing Receivable, Allowance for Credit Loss [Line Items]
Revolving loans	126,811	105,985
Revolving loans converted to term	255	327
Total	127,066	106,312
Current \| International card businesses: \| Credit Card
Financing Receivable, Allowance for Credit Loss [Line Items]
Revolving loans	5,866	5,795
Revolving loans converted to term	29	41
Total	5,895	5,836
30-59 days \| Domestic credit card: \| Credit Card
Financing Receivable, Allowance for Credit Loss [Line Items]
Revolving loans	1,388	760
Revolving loans converted to term	17	13
Total	1,405	773
30-59 days \| International card businesses: \| Credit Card
Financing Receivable, Allowance for Credit Loss [Line Items]
Revolving loans	83	73
Revolving loans converted to term	3	4
Total	86	77
60-89 days \| Domestic credit card: \| Credit Card
Financing Receivable, Allowance for Credit Loss [Line Items]
Revolving loans	964	519
Revolving loans converted to term	11	9
Total	975	528
60-89 days \| International card businesses: \| Credit Card
Financing Receivable, Allowance for Credit Loss [Line Items]
Revolving loans	55	47
Revolving loans converted to term	3	3
Total	58	50
Greater than 90 days \| Domestic credit card: \| Credit Card
Financing Receivable, Allowance for Credit Loss [Line Items]
Revolving loans	2,121	1,100
Revolving loans converted to term	14	10
Total	2,135	1,110
Greater than 90 days \| International card businesses: \| Credit Card
Financing Receivable, Allowance for Credit Loss [Line Items]
Revolving loans	106	82
Revolving loans converted to term	4	4
Total	$ 110	$ 86

Loans - Consumer Banking Portfolio by Credit Quality Indicator (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Financing Receivable, Credit Quality Indicator [Line Items]
Total	$ 312,331	$ 277,340
Consumer Banking
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans by vintage year one	31,969	38,021
Term loans by vintage year two	25,937	18,865
Term loans by vintage year three	11,591	10,789
Term loans by vintage year four	6,039	5,487
Term loans by vintage year five	2,589	2,816
Term loans by vintage after year five	1,372	1,287
Total term loans	79,497	77,265
Revolving loans	422	373
Revolving loans converted to term	6	8
Total	79,925	77,646
Auto \| Consumer Banking
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans by vintage year one	31,801	37,736
Term loans by vintage year two	25,807	18,687
Term loans by vintage year three	11,509	10,615
Term loans by vintage year four	5,906	5,318
Term loans by vintage year five	2,459	2,639
Term loans by vintage after year five	891	784
Total term loans	78,373	75,779
Revolving loans	0	0
Revolving loans converted to term	0	0
Total	78,373	75,779
Retail banking \| Consumer Banking
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans by vintage year one	168	285
Term loans by vintage year two	130	178
Term loans by vintage year three	82	174
Term loans by vintage year four	133	169
Term loans by vintage year five	130	177
Term loans by vintage after year five	481	503
Total term loans	1,124	1,486
Revolving loans	422	373
Revolving loans converted to term	6	8
Total	1,552	1,867
Current \| Retail banking \| Consumer Banking
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans by vintage year one	166	285
Term loans by vintage year two	128	171
Term loans by vintage year three	82	172
Term loans by vintage year four	133	161
Term loans by vintage year five	127	176
Term loans by vintage after year five	470	491
Total term loans	1,106	1,456
Revolving loans	408	345
Revolving loans converted to term	4	6
Total	1,518	1,807
30-59 days \| Retail banking \| Consumer Banking
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans by vintage year one	2	0
Term loans by vintage year two	1	2
Term loans by vintage year three	0	2
Term loans by vintage year four	0	7
Term loans by vintage year five	0	0
Term loans by vintage after year five	2	1
Total term loans	5	12
Revolving loans	8	23
Revolving loans converted to term	0	0
Total	13	35
60-89 days \| Retail banking \| Consumer Banking
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans by vintage year one	0	0
Term loans by vintage year two	1	4
Term loans by vintage year three	0	0
Term loans by vintage year four	0	0
Term loans by vintage year five	0	0
Term loans by vintage after year five	1	2
Total term loans	2	6
Revolving loans	2	1
Revolving loans converted to term	0	0
Total	4	7
Greater than 90 days \| Retail banking \| Consumer Banking
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans by vintage year one	0	0
Term loans by vintage year two	0	1
Term loans by vintage year three	0	0
Term loans by vintage year four	0	1
Term loans by vintage year five	3	1
Term loans by vintage after year five	8	9
Total term loans	11	12
Revolving loans	4	4
Revolving loans converted to term	2	2
Total	17	18
Greater than 660 \| Auto \| Consumer Banking
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans by vintage year one	17,872	20,758
Term loans by vintage year two	14,246	8,630
Term loans by vintage year three	5,354	4,739
Term loans by vintage year four	2,595	2,394
Term loans by vintage year five	1,032	1,153
Term loans by vintage after year five	328	301
Total term loans	41,427	37,975
Revolving loans	0	0
Revolving loans converted to term	0	0
Total	41,427	37,975
621-660 \| Auto \| Consumer Banking
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans by vintage year one	6,212	7,456
Term loans by vintage year two	5,060	3,721
Term loans by vintage year three	2,257	2,109
Term loans by vintage year four	1,167	1,084
Term loans by vintage year five	513	537
Term loans by vintage after year five	185	157
Total term loans	15,394	15,064
Revolving loans	0	0
Revolving loans converted to term	0	0
Total	15,394	15,064
620 or below \| Auto \| Consumer Banking
Financing Receivable, Credit Quality Indicator [Line Items]
Term loans by vintage year one	7,717	9,522
Term loans by vintage year two	6,501	6,336
Term loans by vintage year three	3,898	3,767
Term loans by vintage year four	2,144	1,840
Term loans by vintage year five	914	949
Term loans by vintage after year five	378	326
Total term loans	21,552	22,740
Revolving loans	0	0
Revolving loans converted to term	0	0
Total	$ 21,552	$ 22,740

Loans - Commercial Banking: Risk Profile by Internal Risk Rating (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	$ 312,331	$ 277,340
Commercial Banking
Financing Receivable, Allowance for Credit Loss [Line Items]
Term loans by vintage year one	33,735	19,811
Term loans by vintage year two	11,096	10,398
Term loans by vintage year three	4,458	10,239
Term loans by vintage year four	4,152	5,788
Term loans by vintage year five	2,781	2,919
Term loans by vintage after year five	6,814	8,492
Total term loans	63,036	57,647
Revolving loans	31,594	27,191
Revolving loans converted to term	46	84
Total	94,676	84,922
Commercial Banking \| Commercial and multifamily real estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Term loans by vintage year one	10,442	6,838
Term loans by vintage year two	4,484	3,119
Term loans by vintage year three	1,363	3,810
Term loans by vintage year four	2,096	2,738
Term loans by vintage year five	1,601	1,063
Term loans by vintage after year five	4,075	5,282
Total term loans	24,061	22,850
Revolving loans	13,367	12,387
Revolving loans converted to term	25	25
Total	37,453	35,262
Commercial Banking \| Commercial and multifamily real estate \| Noncriticized
Financing Receivable, Allowance for Credit Loss [Line Items]
Term loans by vintage year one	9,527	6,590
Term loans by vintage year two	4,086	2,924
Term loans by vintage year three	1,161	3,393
Term loans by vintage year four	1,671	2,401
Term loans by vintage year five	1,280	793
Term loans by vintage after year five	2,898	3,538
Total term loans	20,623	19,639
Revolving loans	13,254	12,286
Revolving loans converted to term	25	0
Total	33,902	31,925
Commercial Banking \| Commercial and multifamily real estate \| Criticized \| Criticized performing
Financing Receivable, Allowance for Credit Loss [Line Items]
Term loans by vintage year one	814	248
Term loans by vintage year two	376	195
Term loans by vintage year three	202	329
Term loans by vintage year four	412	317
Term loans by vintage year five	302	261
Term loans by vintage after year five	1,061	1,478
Total term loans	3,167	2,828
Revolving loans	113	101
Revolving loans converted to term	0	25
Total	3,280	2,954
Commercial Banking \| Commercial and multifamily real estate \| Criticized \| Criticized nonperforming
Financing Receivable, Allowance for Credit Loss [Line Items]
Term loans by vintage year one	101	0
Term loans by vintage year two	22	0
Term loans by vintage year three	0	88
Term loans by vintage year four	13	20
Term loans by vintage year five	19	9
Term loans by vintage after year five	116	266
Total term loans	271	383
Revolving loans	0	0
Revolving loans converted to term	0	0
Total	271	383
Commercial Banking \| Commercial And Industrial [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Term loans by vintage year one	23,293	12,973
Term loans by vintage year two	6,612	7,279
Term loans by vintage year three	3,095	6,429
Term loans by vintage year four	2,056	3,050
Term loans by vintage year five	1,180	1,856
Term loans by vintage after year five	2,739	3,210
Total term loans	38,975	34,797
Revolving loans	18,227	14,804
Revolving loans converted to term	21	59
Total	57,223	49,660
Commercial Banking \| Commercial And Industrial [Member] \| Noncriticized
Financing Receivable, Allowance for Credit Loss [Line Items]
Term loans by vintage year one	22,105	12,662
Term loans by vintage year two	6,031	7,039
Term loans by vintage year three	2,934	5,506
Term loans by vintage year four	1,809	2,750
Term loans by vintage year five	973	1,730
Term loans by vintage after year five	2,658	3,033
Total term loans	36,510	32,720
Revolving loans	17,187	14,310
Revolving loans converted to term	21	59
Total	53,718	47,089
Commercial Banking \| Commercial And Industrial [Member] \| Criticized \| Criticized performing
Financing Receivable, Allowance for Credit Loss [Line Items]
Term loans by vintage year one	992	279
Term loans by vintage year two	560	188
Term loans by vintage year three	156	838
Term loans by vintage year four	160	207
Term loans by vintage year five	167	120
Term loans by vintage after year five	76	167
Total term loans	2,111	1,799
Revolving loans	964	456
Revolving loans converted to term	0	0
Total	3,075	2,255
Commercial Banking \| Commercial And Industrial [Member] \| Criticized \| Criticized nonperforming
Financing Receivable, Allowance for Credit Loss [Line Items]
Term loans by vintage year one	196	32
Term loans by vintage year two	21	52
Term loans by vintage year three	5	85
Term loans by vintage year four	87	93
Term loans by vintage year five	40	6
Term loans by vintage after year five	5	10
Total term loans	354	278
Revolving loans	76	38
Revolving loans converted to term	0	0
Total	$ 430	$ 316

Loans - Trouble Debt Restructurings (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans Modified	$ 2,252	$ 812	$ 1,489
Credit Card
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans Modified	$ 433	$ 277	$ 411
Credit Card \| Reduced Interest Rate
Financing Receivable, Troubled Debt Restructuring [Line Items]
% of TDR Activity	100.00%	100.00%	100.00%
Average Rate Reduction	19.73%	21.15%	20.61%
Consumer Banking
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans Modified	$ 1,077	$ 374	$ 541
Consumer Banking \| Reduced Interest Rate
Financing Receivable, Troubled Debt Restructuring [Line Items]
% of TDR Activity	57.00%	42.00%	11.00%
Average Rate Reduction	8.53%	8.70%	5.73%
Consumer Banking \| Term Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
% of TDR Activity	97.00%	93.00%	94.00%
Average Term Extension (Months)	4 months	4 months	3 months
Consumer Banking \| Principal Forgiveness
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivables, Impaired, Write-down Percentage of Troubled Debt Restructuring Activity		0.00%	0.00%
Gross Balance Reduction		$ 1	$ 1
Consumer Banking \| Auto
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans Modified	$ 1,070	$ 371	$ 536
Consumer Banking \| Auto \| Reduced Interest Rate
Financing Receivable, Troubled Debt Restructuring [Line Items]
% of TDR Activity	57.00%	43.00%	11.00%
Average Rate Reduction	8.53%	8.72%	5.68%
Consumer Banking \| Auto \| Term Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
% of TDR Activity	97.00%	93.00%	95.00%
Average Term Extension (Months)	4 months	4 months	3 months
Consumer Banking \| Auto \| Principal Forgiveness
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivables, Impaired, Write-down Percentage of Troubled Debt Restructuring Activity		0.00%	0.00%
Gross Balance Reduction		$ 1	$ 1
Consumer Banking \| Retail banking
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans Modified	$ 7	$ 3	$ 5
Consumer Banking \| Retail banking \| Reduced Interest Rate
Financing Receivable, Troubled Debt Restructuring [Line Items]
% of TDR Activity		13.00%	11.00%
Average Rate Reduction		2.94%	10.86%
Consumer Banking \| Retail banking \| Term Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
% of TDR Activity	92.00%	30.00%	20.00%
Average Term Extension (Months)	13 months	42 months	8 months
Commercial Banking
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans Modified	$ 742	$ 161	$ 537
Commercial Banking \| Reduced Interest Rate
Financing Receivable, Troubled Debt Restructuring [Line Items]
% of TDR Activity	4.00%	6.00%	3.00%
Average Rate Reduction	0.28%	1.19%	0.14%
Commercial Banking \| Term Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
% of TDR Activity	74.00%	46.00%	58.00%
Average Term Extension (Months)	13 months	9 months	17 months
Commercial Banking \| Principal Forgiveness
Financing Receivable, Troubled Debt Restructuring [Line Items]
% of TDR Activity			3.00%
Gross Balance Reduction			$ 7
Commercial Banking \| Commercial and multifamily real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans Modified	$ 385	$ 49	$ 98
Commercial Banking \| Commercial and multifamily real estate \| Reduced Interest Rate
Financing Receivable, Troubled Debt Restructuring [Line Items]
% of TDR Activity	8.00%	21.00%
Average Rate Reduction	0.28%	1.19%
Commercial Banking \| Commercial and multifamily real estate \| Term Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
% of TDR Activity	84.00%	85.00%	86.00%
Average Term Extension (Months)	13 months	11 months	5 months
Commercial Banking \| Commercial And Industrial [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans Modified	$ 357	$ 112	$ 439
Commercial Banking \| Commercial And Industrial [Member] \| Reduced Interest Rate
Financing Receivable, Troubled Debt Restructuring [Line Items]
% of TDR Activity			4.00%
Average Rate Reduction			0.14%
Commercial Banking \| Commercial And Industrial [Member] \| Term Extension
Financing Receivable, Troubled Debt Restructuring [Line Items]
% of TDR Activity	64.00%	30.00%	52.00%
Average Term Extension (Months)	13 months	6 months	21 months
Commercial Banking \| Commercial And Industrial [Member] \| Principal Forgiveness
Financing Receivable, Troubled Debt Restructuring [Line Items]
% of TDR Activity			4.00%
Gross Balance Reduction			$ 7
Domestic credit card: \| Credit Card
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans Modified	$ 306	$ 154	$ 243
Domestic credit card: \| Credit Card \| Reduced Interest Rate
Financing Receivable, Troubled Debt Restructuring [Line Items]
% of TDR Activity	100.00%	100.00%	100.00%
Average Rate Reduction	16.54%	15.90%	15.94%
International card businesses: \| Credit Card
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total Loans Modified	$ 127	$ 123	$ 168
International card businesses: \| Credit Card \| Reduced Interest Rate
Financing Receivable, Troubled Debt Restructuring [Line Items]
% of TDR Activity	100.00%	100.00%	100.00%
Average Rate Reduction	27.42%	27.70%	27.38%

Loans - TDR - Subsequent Defaults (Details) $ in Millions	12 Months Ended
Loans - TDR - Subsequent Defaults (Details) $ in Millions	Dec. 31, 2022 USD ($) contract	Dec. 31, 2021 USD ($) contract	Dec. 31, 2020 USD ($) contract
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts \| contract	127,569	86,472	96,905
Total Loans \| $	$ 523	$ 428	$ 414
Credit Card
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts \| contract	111,461	77,608	91,002
Total Loans \| $	$ 154	$ 122	$ 156
Consumer Banking
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts \| contract	16,101	8,856	5,887
Total Loans \| $	$ 286	$ 136	$ 78
Consumer Banking \| Auto
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts \| contract	16,100	8,847	5,877
Total Loans \| $	$ 285	$ 136	$ 77
Consumer Banking \| Retail banking
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts \| contract	1	9	10
Total Loans \| $	$ 1	$ 0	$ 1
Commercial Banking
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts \| contract	7	8	16
Total Loans \| $	$ 83	$ 170	$ 180
Commercial Banking \| Commercial And Industrial [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts \| contract	5	7	15
Total Loans \| $	$ 56	$ 120	$ 130
Commercial Banking \| Commercial and multifamily real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts \| contract	2	1	1
Total Loans \| $	$ 27	$ 50	$ 50
Domestic credit card: \| Credit Card
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts \| contract	37,029	18,694	32,639
Total Loans \| $	$ 75	$ 35	$ 69
International card businesses: \| Credit Card
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Contracts \| contract	74,432	58,914	58,363
Total Loans \| $	$ 79	$ 87	$ 87

Allowance for Credit Losses and Reserve for Unfunded Lending Commitments - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for credit loss	$ 13,240	$ 11,430
Uncollectible portion of billed finance charges and fees	946	629	$ 1,100
Allowance for credit losses
Accounts, Notes, Loans and Financing Receivable [Line Items]
Increase (Decrease) in Allowance for Credit Loss	1,800
Allowance for credit loss	$ 13,240	$ 11,430	$ 15,564	$ 7,208

Allowance for Credit Losses and Reserve for Unfunded Lending Commitments - Allowance for Credit Losses and Reserve for Unfunded Lending Commitments Activity (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Allowance for Credit Losses [Roll Forward]
Financing Receivable, Allowance for Credit Loss, Beginning Balance		$ 11,430
Balance at the end of the period		13,240	$ 11,430
Provision (benefit) for credit losses		5,847	(1,944)	$ 10,264
Other
Allowance for Credit Losses [Roll Forward]
Provision (benefit) for credit losses		(6)	(2)	3
Allowance for credit losses
Allowance for Credit Losses [Roll Forward]
Financing Receivable, Allowance for Credit Loss, Beginning Balance		11,430	15,564	7,208
Allowance build (release) for credit losses		1,827	(4,146)	5,013
Other changes		(17)	12	36
Balance at the end of the period		13,240	11,430	15,564
Financing Receivable, Allowance for Credit Loss, Writeoff		(6,064)	(4,740)	(7,677)
Recoveries		2,091	2,506	2,452
Financing Receivable, Allowance for Credit Loss, Writeoff, after Recovery		(3,973)	(2,234)	(5,225)
Provision (benefit) for credit losses		5,800	(1,912)	10,238
Increase (Decrease) in Allowance for Credit Loss		1,800
Allowance for credit losses \| Cumulative Effect, Period of Adoption, Adjustment [Member]
Allowance for Credit Losses [Roll Forward]
Financing Receivable, Allowance for Credit Loss, Beginning Balance				2,845
Allowance for credit losses \| Finance charge and fee reserve reclassification
Allowance for Credit Losses [Roll Forward]
Financing Receivable, Allowance for Credit Loss, Beginning Balance				462
Allowance for credit losses \| Cumulative Effect, Period of Adoption, Adjusted Balance
Allowance for Credit Losses [Roll Forward]
Financing Receivable, Allowance for Credit Loss, Beginning Balance				10,515
Reserve for unfunded lending commitments
Allowance for Credit Losses [Roll Forward]
Financing Receivable, Allowance for Credit Loss, Beginning Balance		165	195	135
Balance at the end of the period		218	165	195
Provision (benefit) for credit losses		53	(30)	23
Reserve for unfunded lending commitments \| Cumulative Effect, Period of Adoption, Adjustment [Member]
Allowance for Credit Losses [Roll Forward]
Financing Receivable, Allowance for Credit Loss, Beginning Balance				37
Reserve for unfunded lending commitments \| Cumulative Effect, Period of Adoption, Adjusted Balance
Allowance for Credit Losses [Roll Forward]
Financing Receivable, Allowance for Credit Loss, Beginning Balance				172
Combined allowance and reserve
Allowance for Credit Losses [Roll Forward]
Financing Receivable, Allowance for Credit Loss, Beginning Balance		11,595	15,759
Balance at the end of the period		13,458	11,595	15,759
Credit Card \| Allowance for credit losses
Allowance for Credit Losses [Roll Forward]
Financing Receivable, Allowance for Credit Loss, Beginning Balance		8,345	11,191	5,395
Allowance build (release) for credit losses	$ 327	1,217	(2,858)	3,057
Other changes		(17)	12	36
Balance at the end of the period		9,545	8,345	11,191
Financing Receivable, Allowance for Credit Loss, Writeoff		(4,362)	(3,481)	(5,749)
Recoveries		1,314	1,525	1,479
Financing Receivable, Allowance for Credit Loss, Writeoff, after Recovery		(3,048)	(1,956)	(4,270)
Provision (benefit) for credit losses		4,265	(902)	7,327
Credit Card \| Allowance for credit losses \| Cumulative Effect, Period of Adoption, Adjustment [Member]
Allowance for Credit Losses [Roll Forward]
Financing Receivable, Allowance for Credit Loss, Beginning Balance				2,241
Credit Card \| Allowance for credit losses \| Finance charge and fee reserve reclassification
Allowance for Credit Losses [Roll Forward]
Financing Receivable, Allowance for Credit Loss, Beginning Balance				462
Credit Card \| Allowance for credit losses \| Cumulative Effect, Period of Adoption, Adjusted Balance
Allowance for Credit Losses [Roll Forward]
Financing Receivable, Allowance for Credit Loss, Beginning Balance				8,098
Credit Card \| Reserve for unfunded lending commitments
Allowance for Credit Losses [Roll Forward]
Financing Receivable, Allowance for Credit Loss, Beginning Balance		0	0	0
Balance at the end of the period		0	0	0
Provision (benefit) for credit losses		0	0	0
Credit Card \| Reserve for unfunded lending commitments \| Cumulative Effect, Period of Adoption, Adjustment [Member]
Allowance for Credit Losses [Roll Forward]
Financing Receivable, Allowance for Credit Loss, Beginning Balance				0
Credit Card \| Reserve for unfunded lending commitments \| Cumulative Effect, Period of Adoption, Adjusted Balance
Allowance for Credit Losses [Roll Forward]
Financing Receivable, Allowance for Credit Loss, Beginning Balance				0
Credit Card \| Combined allowance and reserve
Allowance for Credit Losses [Roll Forward]
Financing Receivable, Allowance for Credit Loss, Beginning Balance		8,345	11,191
Balance at the end of the period		9,545	8,345	11,191
Consumer Banking \| Allowance for credit losses
Allowance for Credit Losses [Roll Forward]
Financing Receivable, Allowance for Credit Loss, Beginning Balance		1,918	2,715	1,038
Allowance build (release) for credit losses		319	(797)	1,175
Other changes		0	0	0
Balance at the end of the period		2,237	1,918	2,715
Financing Receivable, Allowance for Credit Loss, Writeoff		(1,614)	(1,211)	(1,534)
Recoveries		760	935	956
Financing Receivable, Allowance for Credit Loss, Writeoff, after Recovery		(854)	(276)	(578)
Provision (benefit) for credit losses		1,173	(521)	1,753
Consumer Banking \| Allowance for credit losses \| Cumulative Effect, Period of Adoption, Adjustment [Member]
Allowance for Credit Losses [Roll Forward]
Financing Receivable, Allowance for Credit Loss, Beginning Balance				502
Consumer Banking \| Allowance for credit losses \| Finance charge and fee reserve reclassification
Allowance for Credit Losses [Roll Forward]
Financing Receivable, Allowance for Credit Loss, Beginning Balance				0
Consumer Banking \| Allowance for credit losses \| Cumulative Effect, Period of Adoption, Adjusted Balance
Allowance for Credit Losses [Roll Forward]
Financing Receivable, Allowance for Credit Loss, Beginning Balance				1,540
Consumer Banking \| Reserve for unfunded lending commitments
Allowance for Credit Losses [Roll Forward]
Financing Receivable, Allowance for Credit Loss, Beginning Balance		0	0	5
Balance at the end of the period		0	0	0
Provision (benefit) for credit losses		0	0	0
Consumer Banking \| Reserve for unfunded lending commitments \| Cumulative Effect, Period of Adoption, Adjustment [Member]
Allowance for Credit Losses [Roll Forward]
Financing Receivable, Allowance for Credit Loss, Beginning Balance				(5)
Consumer Banking \| Reserve for unfunded lending commitments \| Cumulative Effect, Period of Adoption, Adjusted Balance
Allowance for Credit Losses [Roll Forward]
Financing Receivable, Allowance for Credit Loss, Beginning Balance				0
Consumer Banking \| Combined allowance and reserve
Allowance for Credit Losses [Roll Forward]
Financing Receivable, Allowance for Credit Loss, Beginning Balance		1,918	2,715
Balance at the end of the period		2,237	1,918	2,715
Commercial Banking \| Allowance for credit losses
Allowance for Credit Losses [Roll Forward]
Financing Receivable, Allowance for Credit Loss, Beginning Balance		1,167	1,658	775
Allowance build (release) for credit losses		291	(491)	781
Other changes		0	0	0
Balance at the end of the period		1,458	1,167	1,658
Financing Receivable, Allowance for Credit Loss, Writeoff		(88)	(48)	(394)
Recoveries		17	46	17
Financing Receivable, Allowance for Credit Loss, Writeoff, after Recovery		(71)	(2)	(377)
Provision (benefit) for credit losses		362	(489)	1,158
Commercial Banking \| Allowance for credit losses \| Cumulative Effect, Period of Adoption, Adjustment [Member]
Allowance for Credit Losses [Roll Forward]
Financing Receivable, Allowance for Credit Loss, Beginning Balance				102
Commercial Banking \| Allowance for credit losses \| Finance charge and fee reserve reclassification
Allowance for Credit Losses [Roll Forward]
Financing Receivable, Allowance for Credit Loss, Beginning Balance				0
Commercial Banking \| Allowance for credit losses \| Cumulative Effect, Period of Adoption, Adjusted Balance
Allowance for Credit Losses [Roll Forward]
Financing Receivable, Allowance for Credit Loss, Beginning Balance				877
Commercial Banking \| Reserve for unfunded lending commitments
Allowance for Credit Losses [Roll Forward]
Financing Receivable, Allowance for Credit Loss, Beginning Balance		165	195	130
Balance at the end of the period		218	165	195
Provision (benefit) for credit losses		53	(30)	23
Commercial Banking \| Reserve for unfunded lending commitments \| Cumulative Effect, Period of Adoption, Adjustment [Member]
Allowance for Credit Losses [Roll Forward]
Financing Receivable, Allowance for Credit Loss, Beginning Balance				42
Commercial Banking \| Reserve for unfunded lending commitments \| Cumulative Effect, Period of Adoption, Adjusted Balance
Allowance for Credit Losses [Roll Forward]
Financing Receivable, Allowance for Credit Loss, Beginning Balance				172
Commercial Banking \| Combined allowance and reserve
Allowance for Credit Losses [Roll Forward]
Financing Receivable, Allowance for Credit Loss, Beginning Balance		1,332	1,853
Balance at the end of the period		$ 1,676	$ 1,332	$ 1,853

Allowance for Credit Losses and Reserve for Unfunded Lending Commitments - Summary of Loss Sharing Arrangements (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Provision (benefit) for credit losses	$ 5,847	$ (1,944)	$ 10,264
Loss sharing agreements
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Expected reimbursement from loss sharing partners, beginning balance	1,450	2,159	2,166
Financing Receivable, Allowance for Credit Loss, Writeoff	(515)	(438)	(959)
Provision (benefit) for credit losses	623	(271)	952
Expected reimbursement from loss sharing partners, ending balance	$ 1,558	$ 1,450	$ 2,159

Variable Interest Entities and Securitizations - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Variable Interest Entity [Line Items]
Amortization method qualified affordable housing investments, amortization	$ 637	$ 633
Affordable housing tax credits	664	644
Amortization method qualified affordable housing investments	4,900	4,700
Qualified affordable housing investments, commitment	1,800	1,700
Carrying Amount of Assets	455,249	432,381
VIE, reporting entity involvement, maximum loss exposure	5,281	5,157
Unconsolidated
Variable Interest Entity [Line Items]
Carrying Amount of Assets	5,281	5,157
Consolidated
Variable Interest Entity [Line Items]
Carrying Amount of Assets	31,045	26,458
Affordable housing entities
Variable Interest Entity [Line Items]
VIE, reporting entity involvement, maximum loss exposure	4,944	4,774
Affordable housing entities \| Unconsolidated
Variable Interest Entity [Line Items]
Carrying Amount of Assets	4,944	4,774
Total assets of the unconsolidated VIE investment funds	12,500	11,900
Affordable housing entities \| Consolidated
Variable Interest Entity [Line Items]
Carrying Amount of Assets	261	263
Entities that provide capital to low-income and rural communities
Variable Interest Entity [Line Items]
VIE, reporting entity involvement, maximum loss exposure	0	0
Entities that provide capital to low-income and rural communities \| Unconsolidated
Variable Interest Entity [Line Items]
Carrying Amount of Assets	0	0
Entities that provide capital to low-income and rural communities \| Consolidated
Variable Interest Entity [Line Items]
Carrying Amount of Assets	2,301	2,074
Other
Variable Interest Entity [Line Items]
VIE, reporting entity involvement, maximum loss exposure	337	383
Other \| Unconsolidated
Variable Interest Entity [Line Items]
Carrying Amount of Assets	337	383
Other \| Consolidated
Variable Interest Entity [Line Items]
Carrying Amount of Assets	$ 0	$ 0

Variable Interest Entities and Securitizations - Carrying Amount of Consolidated and Unconsolidated VIEs (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Variable Interest Entity [Line Items]
Maximum Exposure to Loss	$ 5,281	$ 5,157
Carrying Amount of Assets	455,249	432,381
Carrying Amount of Liabilities	402,667	371,352
Consolidated
Variable Interest Entity [Line Items]
Carrying Amount of Assets	31,045	26,458
Carrying Amount of Liabilities	17,908	15,256
Unconsolidated
Variable Interest Entity [Line Items]
Carrying Amount of Assets	5,281	5,157
Carrying Amount of Liabilities	1,596	1,454
Affordable housing entities
Variable Interest Entity [Line Items]
Maximum Exposure to Loss	4,944	4,774
VIE, nonconsolidated, carrying amount of assets included in certain investment structures	2,300	2,200
VIE, nonconsolidated, carrying amount of liabilities included in certain investment structures	616	568
Affordable housing entities \| Consolidated
Variable Interest Entity [Line Items]
Carrying Amount of Assets	261	263
Carrying Amount of Liabilities	19	27
Affordable housing entities \| Unconsolidated
Variable Interest Entity [Line Items]
Carrying Amount of Assets	4,944	4,774
Carrying Amount of Liabilities	1,596	1,454
Entities that provide capital to low-income and rural communities
Variable Interest Entity [Line Items]
Maximum Exposure to Loss	0	0
Entities that provide capital to low-income and rural communities \| Consolidated
Variable Interest Entity [Line Items]
Carrying Amount of Assets	2,301	2,074
Carrying Amount of Liabilities	10	26
Entities that provide capital to low-income and rural communities \| Unconsolidated
Variable Interest Entity [Line Items]
Carrying Amount of Assets	0	0
Carrying Amount of Liabilities	0	0
Other
Variable Interest Entity [Line Items]
Maximum Exposure to Loss	337	383
Other \| Consolidated
Variable Interest Entity [Line Items]
Carrying Amount of Assets	0	0
Carrying Amount of Liabilities	0	0
Other \| Unconsolidated
Variable Interest Entity [Line Items]
Carrying Amount of Assets	337	383
Carrying Amount of Liabilities	0	0
Total other VIEs
Variable Interest Entity [Line Items]
Maximum Exposure to Loss	5,281	5,157
Total other VIEs \| Consolidated
Variable Interest Entity [Line Items]
Carrying Amount of Assets	2,562	2,337
Carrying Amount of Liabilities	29	53
Total other VIEs \| Unconsolidated
Variable Interest Entity [Line Items]
Carrying Amount of Assets	5,281	5,157
Carrying Amount of Liabilities	1,596	1,454
Credit card loan securitizations
Variable Interest Entity [Line Items]
Maximum Exposure to Loss	0	0
Credit card loan securitizations \| Consolidated
Variable Interest Entity [Line Items]
Carrying Amount of Assets	23,620	21,569
Carrying Amount of Liabilities	13,877	13,016
Credit card loan securitizations \| Unconsolidated
Variable Interest Entity [Line Items]
Carrying Amount of Assets	0	0
Carrying Amount of Liabilities	0	0
Auto loan securitizations
Variable Interest Entity [Line Items]
Maximum Exposure to Loss	0	0
Auto loan securitizations \| Consolidated
Variable Interest Entity [Line Items]
Carrying Amount of Assets	4,863	2,552
Carrying Amount of Liabilities	4,002	2,187
Auto loan securitizations \| Unconsolidated
Variable Interest Entity [Line Items]
Carrying Amount of Assets	0	0
Carrying Amount of Liabilities	0	0
Total securitization-related VIEs
Variable Interest Entity [Line Items]
Maximum Exposure to Loss	0	0
Total securitization-related VIEs \| Consolidated
Variable Interest Entity [Line Items]
Carrying Amount of Assets	28,483	24,121
Carrying Amount of Liabilities	17,879	15,203
Total securitization-related VIEs \| Unconsolidated
Variable Interest Entity [Line Items]
Carrying Amount of Assets	0	0
Carrying Amount of Liabilities	$ 0	$ 0

Variable Interest Entities and Securitizations - Continuing Involvement in Securitization Related VIEs (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Credit Card
Qualitative and Quantitative Information, Transferor's Continuing Involvement [Line Items]
Securities held by third-party investors, non-mortgage	$ 12,976	$ 12,808
Receivables in the trust, non-mortgage	24,367	22,454
Cash balance of spread or reserve accounts, non-mortgage	0	0
Auto
Qualitative and Quantitative Information, Transferor's Continuing Involvement [Line Items]
Securities held by third-party investors, non-mortgage	3,997	2,186
Receivables in the trust, non-mortgage	4,682	2,418
Cash balance of spread or reserve accounts, non-mortgage	$ 23	$ 13

Goodwill and Intangible Assets - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of Intangibles	$ 60	$ 29	$ 60
Impairment of Intangible Assets	10	0	0
Goodwill impairment	$ 0	$ 0	$ 0

Goodwill and Intangible Assets - Components (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Schedule of Intangible Assets by Major Class [Line Items]
Goodwill, gross	$ 14,777	$ 14,782
Goodwill	14,777	14,782	$ 14,653	$ 14,653
Intangible assets, gross (excluding Goodwill)	342	242
Accumulated amortization	(183)	(131)
Intangible assets, net (excluding Goodwill)	159	111
Intangible assets gross including Goodwill	15,119	15,024
Total goodwill and other intangible assets, net carrying value	14,936	14,893
Commercial MSRs, gross	660	622
Commercial MSR, accumulated amortization	(223)	(202)
Total commercial MSRs	437	420
Amortization expense for amortizable intangible assets	$ 93	$ 79
Finite-Lived Intangible Assets, Remaining Amortization Period	7 years 3 months 18 days	4 years 4 months 24 days
PCCR intangibles
Schedule of Intangible Assets by Major Class [Line Items]
Intangible assets, gross (excluding Goodwill)	$ 147	$ 29
Accumulated amortization	(26)	(10)
Intangible assets, net (excluding Goodwill)	$ 121	$ 19
Finite-Lived Intangible Assets, Remaining Amortization Period	7 years 9 months 18 days	5 years 10 months 24 days
Other intangible assets
Schedule of Intangible Assets by Major Class [Line Items]
Intangible assets, gross (excluding Goodwill)	$ 195	$ 213
Accumulated amortization	(157)	(121)
Intangible assets, net (excluding Goodwill)	$ 38	$ 92
Finite-Lived Intangible Assets, Remaining Amortization Period	5 years 4 months 24 days	4 years 1 month 6 days

Goodwill and Intangible Assets - Goodwill Business Segments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Goodwill [Roll Forward]
Goodwill, Beginning Balance	$ 14,782	$ 14,653
Acquisitions		130
Other adjustments	(5)	(1)
Goodwill, Ending Balance	14,777	14,782
Credit Card
Goodwill [Roll Forward]
Goodwill, Beginning Balance	5,087	5,088
Acquisitions		0
Other adjustments	(9)	(1)
Goodwill, Ending Balance	5,078	5,087
Consumer Banking
Goodwill [Roll Forward]
Goodwill, Beginning Balance	4,645	4,645
Acquisitions		0
Other adjustments	0	0
Goodwill, Ending Balance	4,645	4,645
Commercial Banking
Goodwill [Roll Forward]
Goodwill, Beginning Balance	5,050	4,920
Acquisitions		130
Other adjustments	4	0
Goodwill, Ending Balance	$ 5,054	$ 5,050

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

Goodwill and Intangible Assets - Actual and Estimated Future Amortization Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of Intangibles	$ 60	$ 29	$ 60
2023	38
2024	31
2025	26
2026	19
2027	15
Thereafter	21
Total estimated future amounts	$ 150

Premises, Equipment and Leases - Components of Premises and Equipment (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Total premises and equipment, gross	$ 9,355	$ 8,744
Less: Accumulated depreciation and amortization	(5,004)	(4,534)
Total premises and equipment, net	4,351	4,210
Land
Property, Plant and Equipment [Line Items]
Total premises and equipment, gross	320	336
Buildings and improvements
Property, Plant and Equipment [Line Items]
Total premises and equipment, gross	4,345	3,854
Furniture and equipment
Property, Plant and Equipment [Line Items]
Total premises and equipment, gross	1,831	1,816
Computer software
Property, Plant and Equipment [Line Items]
Total premises and equipment, gross	2,213	2,006
In progress
Property, Plant and Equipment [Line Items]
Total premises and equipment, gross	$ 646	$ 732

Premises, Equipment and Leases - Operating Lease Portfolio (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment and Lease Commitments [Abstract]
Right-of-use assets	$ 1,128	$ 1,137
Lease liabilities	$ 1,458	$ 1,485
Weighted-average remaining lease term	8 years 4 months 24 days	8 years
Weighted-average discount rate	3.10%	3.00%
Operating lease cost	$ 280	$ 305
Variable lease cost	42	42
Total lease cost	322	347
Sublease income	(16)	(23)
Net lease cost	306	324
Cash paid for amounts included in the measurement of lease liabilities	320	353
Right-of-use assets obtained in exchange for lease liabilities	$ 221	$ 81
Operating Lease, Liability, Statement of Financial Position [Extensible List]	Other liabilities	Other liabilities
Operating lease, right of use asset, statement of financial position, extensible enumeration	Other assets	Other assets

Premises, Equipment and Leases - Maturities of Operating Leases and Reconciliation to Lease Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
2023	$ 259
2024	241
2025	210
2026	192
2027	167
Thereafter	623
Total undiscounted lease payments	1,692
Less: Imputed interest	(234)
Total lease liabilities	$ 1,458	$ 1,485

Premises, Equipment and Leases Premises, Equipment and Leases - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment and Lease Commitments [Abstract]
Depreciation and amortization expense	$ 790	$ 775	$ 809
Finance lease, right-of-use asset	22	33
Finance lease, liability	$ 33	$ 53
Finance leases, a weighted-average remaining lease term	3 years 3 months 18 days	3 years 4 months 24 days
Finance lease expense	$ 14	$ 22
Operating lease, right of use asset, statement of financial position, extensible enumeration	Other assets	Other assets
Financing lease, liability, statement of financial position, extensible enumeration	Other borrowings	Other borrowings
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Premises and equipment, net	Premises and equipment, net

Deposits and Borrowings - Deposits and Short-term Borrowings (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Deposits [Abstract]
Non-interest-bearing deposits	$ 32,203	$ 38,043
Interest-bearing deposits	300,789	272,937
Total deposits	332,992	310,980	$ 305,442
Short-term borrowings
Short-term borrowings	883	820
Time deposits, at or above FDIC insurance limit	6,100	1,800
Federal funds purchased and securities loaned or sold under agreements to repurchase
Short-term borrowings
Short-term borrowings	$ 883	$ 820

Deposits and Borrowings - Long-Term Debt (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Total long-term debt	$ 47,832	$ 42,266
Total short-term borrowings and long-term debt	48,715	43,086
EUR denominated unsecured notes	30,826	27,219
Euro
Debt Instrument [Line Items]
EUR denominated unsecured notes	$ 1,200	1,400
Securitized debt obligations
Debt Instrument [Line Items]
Weighted average interest rate	2.61%
Carrying value	$ 16,973	14,994
Total senior and subordinated notes
Debt Instrument [Line Items]
Carrying value	$ 30,826	27,219
Senior notes \| Total unsecured senior debt
Debt Instrument [Line Items]
Weighted average interest rate	3.53%
Carrying value	$ 25,731	21,684
Senior notes \| Fixed unsecured senior debt
Debt Instrument [Line Items]
Weighted average interest rate	3.43%
Carrying value	$ 24,134	19,975
Senior notes \| Floating unsecured senior debt
Debt Instrument [Line Items]
Weighted average interest rate	5.17%
Carrying value	$ 1,597	1,709
Subordinated notes \| Fixed unsecured subordinated debt
Debt Instrument [Line Items]
Weighted average interest rate	3.52%
Carrying value	$ 5,095	5,535
Finance lease liabilities
Debt Instrument [Line Items]
Weighted average interest rate	4.27%
Carrying value	$ 33	53
Total other long-term borrowings
Debt Instrument [Line Items]
Carrying value	$ 33	$ 53
Minimum \| Securitized debt obligations
Debt Instrument [Line Items]
Stated interest rates	0.32%
Minimum \| Senior notes \| Fixed unsecured senior debt
Debt Instrument [Line Items]
Stated interest rates	0.80%
Minimum \| Senior notes \| Floating unsecured senior debt
Debt Instrument [Line Items]
Stated interest rates	4.99%
Minimum \| Subordinated notes \| Fixed unsecured subordinated debt
Debt Instrument [Line Items]
Stated interest rates	2.36%
Minimum \| Finance lease liabilities
Debt Instrument [Line Items]
Stated interest rates	0.30%
Maximum \| Securitized debt obligations
Debt Instrument [Line Items]
Stated interest rates	4.95%
Maximum \| Senior notes \| Fixed unsecured senior debt
Debt Instrument [Line Items]
Stated interest rates	5.27%
Maximum \| Senior notes \| Floating unsecured senior debt
Debt Instrument [Line Items]
Stated interest rates	5.65%
Maximum \| Subordinated notes \| Fixed unsecured subordinated debt
Debt Instrument [Line Items]
Stated interest rates	4.20%
Maximum \| Finance lease liabilities
Debt Instrument [Line Items]
Stated interest rates	9.91%

Deposits and Borrowings - Maturity Profile of Borrowings (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Time Deposits, Fiscal Year Maturity:
2022	$ 20,090
2023	13,321
2024	4,349
2025	2,077
2026	5,719
Thereafter	302
Total	45,858
Debt Fiscal Year Maturity:
Short-term borrowings	883	$ 820
Total, Fiscal Year Maturity:
2022	26,317
2023	23,877
2024	16,528
2025	8,153
2026	10,723
Thereafter	8,975
Total	94,573
Securitized debt obligations
Debt Fiscal Year Maturity:
2022	466
2023	4,166
2024	7,780
2025	1,749
2026	1,620
Thereafter	1,192
Long-term Debt	16,973	14,994
Senior and subordinated notes
Debt Fiscal Year Maturity:
2022	4,859
2023	6,387
2024	4,397
2025	4,325
2026	3,381
Thereafter	7,477
Long-term Debt	30,826	27,219
Other borrowings
Debt Fiscal Year Maturity:
2022	19
2023	3
2024	2
2025	2
2026	3
Thereafter	4
Long-term Debt	33
Federal funds purchased and securities loaned or sold under agreements to repurchase
Debt Fiscal Year Maturity:
Short-term debt, maturities, next 12 months	883
Short-term borrowings	$ 883	$ 820

Derivative Instruments and Hedging Activities - Additional Information (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($)
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Loss (net after-tax) recorded in AOCI related to derivatives designated as cash flow hedges expected to be reclassified to earnings over the next 12 months	$ (814)
Maximum length of time over which forecasted transactions were hedged, years	9 years 2 months 12 days

Derivative Instruments and Hedging Activities - Derivative Assets and Liabilities at Fair Value (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Derivatives, Fair Value [Line Items]
Notional or contractual amount	$ 227,801	$ 213,069
Derivative assets, gross amount	3,098	2,690
Derivative liabilities, gross amount	4,550	1,868
Derivative asset, netting adjustments	(1,134)	(542)
Derivative liability, netting adjustments	(1,235)	$ (544)
Derivative Asset, Statement of Financial Position [Extensible Enumeration]		Other assets
Total derivative assets	1,964	$ 2,148
Total derivative liabilities	3,315	1,324
Net valuation allowance on derivative assets and liabilities for non-performance risk	4	11
Derivatives designated as accounting hedges
Derivatives, Fair Value [Line Items]
Notional or contractual amount	98,966	111,618
Derivative assets, gross amount	85	326
Derivative liabilities, gross amount	820	39
Derivatives designated as accounting hedges \| Interest rate contracts
Derivatives, Fair Value [Line Items]
Notional or contractual amount	91,306	102,059
Derivative assets, gross amount	3	246
Derivative liabilities, gross amount	504	19
Derivatives designated as accounting hedges \| Interest rate contracts \| Fair value hedges
Derivatives, Fair Value [Line Items]
Notional or contractual amount	60,956	49,659
Derivative assets, gross amount	3	2
Derivative liabilities, gross amount	53	3
Derivatives designated as accounting hedges \| Interest rate contracts \| Cash flow hedges
Derivatives, Fair Value [Line Items]
Notional or contractual amount	30,350	52,400
Derivative assets, gross amount	0	244
Derivative liabilities, gross amount	451	16
Derivatives designated as accounting hedges \| Foreign exchange contracts
Derivatives, Fair Value [Line Items]
Notional or contractual amount	7,660	9,559
Derivative assets, gross amount	82	80
Derivative liabilities, gross amount	316	20
Derivatives designated as accounting hedges \| Foreign exchange contracts \| Fair value hedges
Derivatives, Fair Value [Line Items]
Notional or contractual amount	1,338	1,421
Derivative assets, gross amount	0	13
Derivative liabilities, gross amount	211	0
Derivatives designated as accounting hedges \| Foreign exchange contracts \| Cash flow hedges
Derivatives, Fair Value [Line Items]
Notional or contractual amount	2,175	4,679
Derivative assets, gross amount	4	24
Derivative liabilities, gross amount	14	20
Derivatives designated as accounting hedges \| Foreign exchange contracts \| Net investment hedges
Derivatives, Fair Value [Line Items]
Notional or contractual amount	4,147	3,459
Derivative assets, gross amount	78	43
Derivative liabilities, gross amount	91	0
Derivatives not designated as accounting hedges
Derivatives, Fair Value [Line Items]
Notional or contractual amount	128,835	101,451
Derivative assets, gross amount	3,013	2,364
Derivative liabilities, gross amount	3,730	1,829
Derivatives not designated as accounting hedges \| Customer accommodation
Derivatives, Fair Value [Line Items]
Notional or contractual amount	125,462	97,524
Derivative assets, gross amount	2,970	2,329
Derivative liabilities, gross amount	3,689	1,797
Derivatives not designated as accounting hedges \| Interest rate contracts \| Customer accommodation
Derivatives, Fair Value [Line Items]
Notional or contractual amount	91,601	71,724
Derivative assets, gross amount	1,140	620
Derivative liabilities, gross amount	1,873	194
Derivatives not designated as accounting hedges \| Interest rate contracts \| Other interest rate exposures
Derivatives, Fair Value [Line Items]
Notional or contractual amount	1,135	1,899
Derivative assets, gross amount	34	33
Derivative liabilities, gross amount	22	25
Derivatives not designated as accounting hedges \| Foreign exchange contracts \| Customer accommodation
Derivatives, Fair Value [Line Items]
Notional or contractual amount	4,926	3,779
Derivative assets, gross amount	74	40
Derivative liabilities, gross amount	78	42
Derivatives not designated as accounting hedges \| Commodity contracts \| Customer accommodation
Derivatives, Fair Value [Line Items]
Notional or contractual amount	28,935	22,021
Derivative assets, gross amount	1,756	1,669
Derivative liabilities, gross amount	1,738	1,561
Derivatives not designated as accounting hedges \| Other contracts
Derivatives, Fair Value [Line Items]
Notional or contractual amount	2,238	2,028
Derivative assets, gross amount	9	2
Derivative liabilities, gross amount	$ 19	$ 7

Derivative Instruments and Hedging Activities - Hedged Items in Fair Value Hedging Relationship (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Hedged Items In Fair Value Hedging Relationship [Line Items]
Hedged Assets, Fair Value Hedge, Cumulative Increase (Decrease)	$ (13)	$ (3)
Hedged Assets, Discontinued Fair Value Hedge, Cumulative Increase (Decrease)	236	247
Prepayable Financial Asset Closed Portfolio, Last-of-Layer, Amortized Cost	225	225
Available-for-sale securities
Hedged Items In Fair Value Hedging Relationship [Line Items]
Carrying Amount of Assets	3,983	10,327
Hedged Assets, Fair Value Hedge, Cumulative Increase (Decrease)	(80)	286
Hedged Assets, Discontinued Fair Value Hedge, Cumulative Increase (Decrease)	200	295
Interest-bearing deposits
Hedged Items In Fair Value Hedging Relationship [Line Items]
Carrying Amount Of Liabilities	(17,280)	(7,361)
Hedged Liabilities, Fair Value Hedge, Cumulative Increase (Decrease)	500	(47)
Hedged Liabilities, Discontinued Fair Value Hedge, Cumulative Increase (Decrease)	(1)	(1)
Securitized debt obligations
Hedged Items In Fair Value Hedging Relationship [Line Items]
Carrying Amount Of Liabilities	(11,921)	(11,155)
Hedged Liabilities, Fair Value Hedge, Cumulative Increase (Decrease)	748	49
Hedged Liabilities, Discontinued Fair Value Hedge, Cumulative Increase (Decrease)	0	3
Senior and subordinated notes
Hedged Items In Fair Value Hedging Relationship [Line Items]
Carrying Amount Of Liabilities	(24,544)	(22,777)
Hedged Liabilities, Fair Value Hedge, Cumulative Increase (Decrease)	1,542	(531)
Hedged Liabilities, Discontinued Fair Value Hedge, Cumulative Increase (Decrease)	$ (527)	$ (708)

Derivative Instruments and Hedging Activities - Offsetting Assets (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Derivative assets
Derivative assets, gross amount	$ 3,098	$ 2,690
Derivative assets, offsetting financial instruments	(759)	(252)
Derivative assets, offsetting cash collateral	(375)	(290)
Total derivative assets	1,964	2,148
Derivative assets, securities not netted	(96)	0
Net Exposure	1,868	2,148
Derivative, collateral, obligation to return cash	608	377
Derivative, collateral, obligation to return securities	82	1
Derivative, collateral, right to reclaim cash	$ 2,300	$ 2,000

Derivative Instruments and Hedging Activities - Offsetting Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Derivative liabilities
Derivative liabilities, gross amount	$ 4,550	$ 1,868
Derivative liabilities, offsetting financial instruments	(759)	(252)
Derivative liabilities, offsetting cash collateral	(476)	(292)
Total derivative liabilities	3,315	1,324
Derivative liabilities, securities collateral not netted	(85)	0
Net exposure	3,230	1,324
Repurchase agreements
Gross amounts	883	820
Repurchase agreements, securities sold, offset	0	0
Repurchase agreements, cash collateral pledged, offset	0	0
Net amounts as recognized	883	820
Repurchase agreements, securities collateral not netted	(883)	(820)
Net exposure	0	0
Derivative, collateral, obligation to return cash	608	377
Derivative, collateral, obligation to return securities	82	1
Derivative, collateral, right to reclaim cash	2,300	2,000
Securities sold under repurchase agreements, fair value of collateral	$ 900	$ 836

Derivative Instruments and Hedging Activities - Effects of Fair Value and Cash Flow Hedge Accounting (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Interest and dividend income, securities	$ 1,884	$ 1,446	$ 1,877
Interest and fee income, loans	28,910	24,263	24,074
Interest and dividend income, other	443	60	82
Deposits	(2,535)	(956)	(2,165)
Securitized debt obligations	(384)	(119)	(232)
Senior and subordinated notes	(1,074)	(488)	(679)
Non-interest income (loss)	905	826	1,350
Amortization expense (benefit)	(78)	(39)	12
Loss (net after-tax) recorded in AOCI related to derivatives designated as cash flow hedges expected to be reclassified to earnings over the next 12 months	$ 814
Maximum length of time over which forecasted transactions were hedged, years	9 years 2 months 12 days
Non interest income - Other
Derivative Instruments, Gain (Loss) [Line Items]
Realized losses (gains) on foreign exchange contracts reclassified from AOCI	$ (17)	163	(57)
Cash flow hedges \| Interest income - Investment securities
Derivative Instruments, Gain (Loss) [Line Items]
Net income (expense) recognized on cash flow hedges	0	38	25
Cash flow hedges \| Interest income - Loans
Derivative Instruments, Gain (Loss) [Line Items]
Net income (expense) recognized on cash flow hedges	(121)	919	541
Cash flow hedges \| Interest income - Other
Derivative Instruments, Gain (Loss) [Line Items]
Net income (expense) recognized on cash flow hedges	3	1	10
Cash flow hedges \| Interest expense - Deposits
Derivative Instruments, Gain (Loss) [Line Items]
Net income (expense) recognized on cash flow hedges	0	0	0
Cash flow hedges \| Interest expense - Securitized Debt Obligation
Derivative Instruments, Gain (Loss) [Line Items]
Net income (expense) recognized on cash flow hedges	0	0	0
Cash flow hedges \| Interest expense - Senior and Subordinated Debt
Derivative Instruments, Gain (Loss) [Line Items]
Net income (expense) recognized on cash flow hedges	0	0	0
Cash flow hedges \| Non interest income - Other
Derivative Instruments, Gain (Loss) [Line Items]
Net income (expense) recognized on cash flow hedges	(1)	1	(1)
Cash flow hedges \| Interest rate contracts \| Interest income - Investment securities
Derivative Instruments, Gain (Loss) [Line Items]
Reclassification adjustment from AOCI on derivatives, net of tax	0	38	25
Cash flow hedges \| Interest rate contracts \| Interest income - Loans
Derivative Instruments, Gain (Loss) [Line Items]
Reclassification adjustment from AOCI on derivatives, net of tax	(121)	919	541
Cash flow hedges \| Interest rate contracts \| Interest income - Other
Derivative Instruments, Gain (Loss) [Line Items]
Reclassification adjustment from AOCI on derivatives, net of tax	0	0	0
Cash flow hedges \| Interest rate contracts \| Interest expense - Deposits
Derivative Instruments, Gain (Loss) [Line Items]
Reclassification adjustment from AOCI on derivatives, net of tax	0	0	0
Cash flow hedges \| Interest rate contracts \| Interest expense - Securitized Debt Obligation
Derivative Instruments, Gain (Loss) [Line Items]
Reclassification adjustment from AOCI on derivatives, net of tax	0	0	0
Cash flow hedges \| Interest rate contracts \| Interest expense - Senior and Subordinated Debt
Derivative Instruments, Gain (Loss) [Line Items]
Reclassification adjustment from AOCI on derivatives, net of tax	0	0	0
Cash flow hedges \| Interest rate contracts \| Non interest income - Other
Derivative Instruments, Gain (Loss) [Line Items]
Reclassification adjustment from AOCI on derivatives, net of tax	0	0	0
Cash flow hedges \| Foreign exchange contracts \| Interest income - Investment securities
Derivative Instruments, Gain (Loss) [Line Items]
Reclassification adjustment from AOCI on derivatives, net of tax	0	0	0
Cash flow hedges \| Foreign exchange contracts \| Interest income - Loans
Derivative Instruments, Gain (Loss) [Line Items]
Reclassification adjustment from AOCI on derivatives, net of tax	0	0	0
Cash flow hedges \| Foreign exchange contracts \| Interest income - Other
Derivative Instruments, Gain (Loss) [Line Items]
Reclassification adjustment from AOCI on derivatives, net of tax	3	1	10
Cash flow hedges \| Foreign exchange contracts \| Interest expense - Deposits
Derivative Instruments, Gain (Loss) [Line Items]
Reclassification adjustment from AOCI on derivatives, net of tax	0	0	0
Cash flow hedges \| Foreign exchange contracts \| Interest expense - Securitized Debt Obligation
Derivative Instruments, Gain (Loss) [Line Items]
Reclassification adjustment from AOCI on derivatives, net of tax	0	0	0
Cash flow hedges \| Foreign exchange contracts \| Interest expense - Senior and Subordinated Debt
Derivative Instruments, Gain (Loss) [Line Items]
Reclassification adjustment from AOCI on derivatives, net of tax	0	0	0
Cash flow hedges \| Foreign exchange contracts \| Non interest income - Other
Derivative Instruments, Gain (Loss) [Line Items]
Reclassification adjustment from AOCI on derivatives, net of tax	(1)	1	(1)
Fair value hedges \| Interest income - Investment securities
Derivative Instruments, Gain (Loss) [Line Items]
Net income (expense) recognized on fair value hedges	(42)	(184)	(92)
Fair value hedges \| Interest income - Loans
Derivative Instruments, Gain (Loss) [Line Items]
Net income (expense) recognized on fair value hedges	0	0	0
Fair value hedges \| Interest income - Other
Derivative Instruments, Gain (Loss) [Line Items]
Net income (expense) recognized on fair value hedges	0	0	0
Fair value hedges \| Interest expense - Deposits
Derivative Instruments, Gain (Loss) [Line Items]
Net income (expense) recognized on fair value hedges	6	125	109
Fair value hedges \| Interest expense - Securitized Debt Obligation
Derivative Instruments, Gain (Loss) [Line Items]
Net income (expense) recognized on fair value hedges	(47)	106	89
Fair value hedges \| Interest expense - Senior and Subordinated Debt
Derivative Instruments, Gain (Loss) [Line Items]
Net income (expense) recognized on fair value hedges	(34)	348	268
Fair value hedges \| Non interest income - Other
Derivative Instruments, Gain (Loss) [Line Items]
Net income (expense) recognized on fair value hedges	(1)	0	1
Fair value hedges \| Interest rate contracts \| Interest income - Investment securities
Derivative Instruments, Gain (Loss) [Line Items]
Interest recognized on derivatives	48	(92)	(76)
Gains (losses) recognized on derivatives	276	207	(306)
Gains (losses) recognized on hedged items	(366)	(299)	290
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net	0	0	0
Fair value hedges \| Interest rate contracts \| Interest income - Loans
Derivative Instruments, Gain (Loss) [Line Items]
Interest recognized on derivatives	0	0	0
Gains (losses) recognized on derivatives	0	0	0
Gains (losses) recognized on hedged items	0	0	0
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net	0	0	0
Fair value hedges \| Interest rate contracts \| Interest income - Other
Derivative Instruments, Gain (Loss) [Line Items]
Interest recognized on derivatives	0	0	0
Gains (losses) recognized on derivatives	0	0	0
Gains (losses) recognized on hedged items	0	0	0
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net	0	0	0
Fair value hedges \| Interest rate contracts \| Interest expense - Deposits
Derivative Instruments, Gain (Loss) [Line Items]
Interest recognized on derivatives	2	126	108
Gains (losses) recognized on derivatives	(542)	(168)	204
Gains (losses) recognized on hedged items	546	167	(203)
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net	0	0	0
Fair value hedges \| Interest rate contracts \| Interest expense - Securitized Debt Obligation
Derivative Instruments, Gain (Loss) [Line Items]
Interest recognized on derivatives	(48)	123	125
Gains (losses) recognized on derivatives	(698)	(237)	176
Gains (losses) recognized on hedged items	699	220	(212)
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net	0	0	0
Fair value hedges \| Interest rate contracts \| Interest expense - Senior and Subordinated Debt
Derivative Instruments, Gain (Loss) [Line Items]
Interest recognized on derivatives	(197)	209	225
Gains (losses) recognized on derivatives	(1,893)	(799)	950
Gains (losses) recognized on hedged items	2,059	941	(904)
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net	(3)	(3)	(3)
Fair value hedges \| Interest rate contracts \| Non interest income - Other
Derivative Instruments, Gain (Loss) [Line Items]
Interest recognized on derivatives	0	0	0
Gains (losses) recognized on derivatives	(84)	(106)	126
Gains (losses) recognized on hedged items	83	106	(125)
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net	$ 0	$ 0	$ 0

Derivative Instruments and Hedging Activities - Gains Losses on Freestanding Derivatives (Details) - Other non-interest income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) on derivatives not designated as accounting hedges	$ 141	$ 50	$ 43
Interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) on derivatives not designated as accounting hedges	103	67	55
Interest rate contracts \| Customer accommodation
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) on derivatives not designated as accounting hedges	40	32	15
Interest rate contracts \| Other interest rate exposures
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) on derivatives not designated as accounting hedges	76	(5)	(8)
Commodity contracts \| Customer accommodation
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) on derivatives not designated as accounting hedges	49	28	32
Foreign exchange contracts \| Customer accommodation
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) on derivatives not designated as accounting hedges	14	7	8
Other contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gains (losses) on derivatives not designated as accounting hedges	$ (38)	$ (12)	$ (4)

Stockholders' Equity - Preferred Stock Outstanding (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Class of Stock [Line Items]
Preferred Stock, Including Additional Paid in Capital, Net of Discount	$ 4,845	$ 4,845
Series I Preferred Stock
Class of Stock [Line Items]
Per Annum Dividend Rate	5.00%
Liquidation Preference per Share	$ 1,000
Total Shares Outstanding as of December 31, 2022	1,500,000
Preferred Stock, Including Additional Paid in Capital, Net of Discount	$ 1,462	1,462
Series J Preferred Stock
Class of Stock [Line Items]
Per Annum Dividend Rate	4.80%
Liquidation Preference per Share	$ 1,000
Total Shares Outstanding as of December 31, 2022	1,250,000
Preferred Stock, Including Additional Paid in Capital, Net of Discount	$ 1,209	1,209
Series K Preferred Stock
Class of Stock [Line Items]
Per Annum Dividend Rate	4.625%
Liquidation Preference per Share	$ 1,000
Total Shares Outstanding as of December 31, 2022	125,000
Preferred Stock, Including Additional Paid in Capital, Net of Discount	$ 122	122
Series L Preferred Stock
Class of Stock [Line Items]
Per Annum Dividend Rate	4.375%
Liquidation Preference per Share	$ 1,000
Total Shares Outstanding as of December 31, 2022	675,000
Preferred Stock, Including Additional Paid in Capital, Net of Discount	$ 652	652
Series M Preferred Stock
Class of Stock [Line Items]
Per Annum Dividend Rate	3.95%
Liquidation Preference per Share	$ 1,000
Total Shares Outstanding as of December 31, 2022	1,000,000
Preferred Stock, Including Additional Paid in Capital, Net of Discount	$ 988	988
Preferred Stock, Dividend Payment Rate, Variable	5-Year Treasury Rate +3.157
Series N Preferred Stock
Class of Stock [Line Items]
Per Annum Dividend Rate	4.25%
Liquidation Preference per Share	$ 1,000
Total Shares Outstanding as of December 31, 2022	425,000
Preferred Stock, Including Additional Paid in Capital, Net of Discount	$ 412	$ 412

Stockholders' Equity - Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
AOCI beginning balance	$ 374
Other comprehensive income (loss), net of tax	(10,290)	$ (3,120)	$ 2,346
AOCI ending balance	(9,916)	374
Securities available for sale \| Available-for-sale securities
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
AOCI beginning balance	297	2,186	935
Other comprehensive income (loss) before reclassifications	(7,980)	(1,887)	1,278
Amounts reclassified from AOCI into earnings	7	(2)	(19)
Other comprehensive income (loss), net of tax	(7,973)	(1,889)	1,259
AOCI ending balance	(7,676)	297	2,186
Securities available for sale \| Available-for-sale securities \| Cumulative Effect, Period of Adoption, Adjustment [Member]
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Other comprehensive income (loss) before reclassifications			(8)
Hedging Relationships
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
AOCI beginning balance	118	1,362	354
Other comprehensive income (loss) before reclassifications	(2,404)	(396)	1,401
Amounts reclassified from AOCI into earnings	104	(848)	(393)
Other comprehensive income (loss), net of tax	(2,300)	(1,244)	1,008
AOCI ending balance	(2,182)	118	1,362
Hedging Relationships \| Cumulative Effect, Period of Adoption, Adjustment [Member]
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Other comprehensive income (loss) before reclassifications			0
Foreign Currency Translation Adjustments
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
AOCI beginning balance	(21)	(31)	(107)
Other comprehensive income (loss) before reclassifications	1	10	76
Amounts reclassified from AOCI into earnings	0	0	0
Other comprehensive income (loss), net of tax	1	10	76
AOCI ending balance	(20)	(21)	(31)
Foreign Currency Translation Adjustments \| Cumulative Effect, Period of Adoption, Adjustment [Member]
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Other comprehensive income (loss) before reclassifications			0
Other
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
AOCI beginning balance	(20)	(23)	(26)
Other comprehensive income (loss) before reclassifications	(17)	7	5
Amounts reclassified from AOCI into earnings	(1)	(4)	(2)
Other comprehensive income (loss), net of tax	(18)	3	3
AOCI ending balance	(38)	(20)	(23)
Other \| Cumulative Effect, Period of Adoption, Adjustment [Member]
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Other comprehensive income (loss) before reclassifications			0
Total
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
AOCI beginning balance	374	3,494	1,156
Other comprehensive income (loss) before reclassifications	(10,400)	(2,266)	2,760
Amounts reclassified from AOCI into earnings	110	(854)	(414)
Other comprehensive income (loss), net of tax	(10,290)	(3,120)	2,346
AOCI ending balance	(9,916)	374	3,494
Total \| Cumulative Effect, Period of Adoption, Adjustment [Member]
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Other comprehensive income (loss) before reclassifications			(8)
Net investment hedges
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Other comprehensive gain (loss)	$ 305	$ 22	$ (65)

Stockholders' Equity - Reclassifications from AOCI (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest income (loss)	$ 27,114	$ 24,171	$ 22,913
Interest expense	4,123	1,598	3,120
Non-interest income (loss)	905	826	1,350
Income (loss) from continuing operations before income taxes	9,240	15,809	3,203
Income tax provision (benefit)	1,880	3,415	486
Net income	7,360	12,390	2,714
Accumulated other comprehensive income (loss)	(9,916)	374
Other comprehensive income (loss), net of tax	(10,290)	(3,120)	2,346
Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net income	(110)	854	414
Securities available for sale \| Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Non-interest income (loss)	(9)	2	25
Income tax provision (benefit)	(2)	0	6
Net income	(7)	2	19
Hedging Relationships
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Accumulated other comprehensive income (loss)	(2,182)	118	1,362	$ 354
Other comprehensive income (loss) before reclassifications	(2,404)	(396)	1,401
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	104	(848)	(393)
Other comprehensive income (loss), net of tax	(2,300)	(1,244)	1,008
Hedging Relationships \| Interest rate contracts \| Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest income (loss)	(121)	957	566
Hedging Relationships \| Foreign exchange contracts \| Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest income (loss)	3	1	10
Interest expense	(3)	(3)	(3)
Non-interest income (loss)	(17)	163	(57)
Income (loss) from continuing operations before income taxes	(138)	1,118	516
Income tax provision (benefit)	(34)	270	123
Net income	(104)	848	393
Foreign Currency Translation Adjustments
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Accumulated other comprehensive income (loss)	(20)	(21)	(31)	(107)
Other comprehensive income (loss) before reclassifications	1	10	76
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	0	0	0
Other comprehensive income (loss), net of tax	1	10	76
Other
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Accumulated other comprehensive income (loss)	(38)	(20)	(23)	(26)
Other comprehensive income (loss) before reclassifications	(17)	7	5
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	(1)	(4)	(2)
Other comprehensive income (loss), net of tax	(18)	3	3
Other \| Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income (loss) from continuing operations before income taxes	1	5	2
Income tax provision (benefit)	0	1	0
Net income	1	4	2
Accumulated Other Comprehensive Income (Loss)
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Accumulated other comprehensive income (loss)	(9,916)	374	3,494	$ 1,156
Other comprehensive income (loss) before reclassifications	(10,400)	(2,266)	2,760
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	110	(854)	(414)
Other comprehensive income (loss), net of tax	$ (10,290)	$ (3,120)	$ 2,346

Stockholders' Equity - Other Comprehensive Income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Before Tax
Net unrealized gains (losses) on securities available for sale	$ (10,516)	$ (2,486)	$ 1,659
Net unrealized gains (losses) on hedging relationships	(3,032)	(1,640)	1,329
Foreign currency translation adjustments	98	17	56
Other	(24)	4	4
Other comprehensive income (loss), before tax	(13,474)	(4,105)	3,048
Provision (Benefit)
Net unrealized gains (losses) on securities available for sale	(2,543)	(597)	400
Net unrealized gains (losses) on hedging relationships	(732)	(396)	321
Foreign currency translation adjustments	97	7	(20)
Other	(6)	1	1
Other comprehensive income (loss), provision (benefit)	(3,184)	(985)	702
After Tax
Net unrealized gains (losses) on securities available for sale	(7,973)	(1,889)	1,259
Net unrealized gains (losses) on hedging relationships	(2,300)	(1,244)	1,008
Foreign currency translation adjustments	1	10	76
Other	(18)	3	3
Other comprehensive income (loss), net of tax	$ (10,290)	$ (3,120)	$ 2,346

Regulatory and Capital Adequacy - Capital Ratios Under Basel III (Details) $ in Millions	12 Months Ended
	Dec. 31, 2021 USD ($)	Dec. 31, 2022 USD ($)
Common equity Tier 1 capital:
Common equity Tier 1 capital	$ 43,501	$ 44,731
Common equity Tier 1 capital, capital ratio	0.131	0.125
Common equity Tier 1 capital, minimum capital adequacy	0.045	0.045
Tier 1 risk-based capital:
Tier 1 capital	$ 48,346	$ 49,576
Tier 1 capital, capital ratio	0.145	0.139
Tier 1 capital, minimum capital adequacy	0.060	0.060
Tier 1 capital, well-capitalized	0.060	0.060
Total risk-based capital:
Total capital	$ 56,089	$ 56,714
Total capital, capital ratio	0.169	0.158
Total capital, minimum capital adequacy	0.080	0.080
Total capital, well-capitalized	0.100	0.100
Tier 1 leverage capital:
Tier 1 leverage capital	$ 48,346	$ 49,576
Tier 1 leverage, capital ratio	0.116	0.111
Tier 1 leverage, minimum capital adequacy	0.040	0.040
Supplementary leverage:
Tier one capital under BaselIII standardized approach	$ 48,346	$ 49,576
Basel III Supplementary Leverage Ratio	0.099	0.095
Supplementary leverage	0.030	0.030
Regulatory Capital Adjustments, Net of Tax, CECL Transition	$ 2,400
Common Equity Tier One Capital Ratio, Excluding CECL Transition Adjustment		12.00%
Common Equity Tier One Capital Ratio, CECL Transition		12.50%
Capital One, N.A.
Common equity Tier 1 capital:
Common equity Tier 1 capital	$ 26,699	$ 46,630
Common equity Tier 1 capital, capital ratio	0.111	0.131
Common equity Tier 1 capital, minimum capital adequacy	0.045	0.045
Common equity Tie 1 capital, well capitalized	0.065	0.065
Tier 1 risk-based capital:
Tier 1 capital	$ 26,699	$ 46,630
Tier 1 capital, capital ratio	0.111	0.131
Tier 1 capital, minimum capital adequacy	0.060	0.060
Tier 1 capital, well-capitalized	0.080	0.080
Total risk-based capital:
Total capital	$ 29,449	$ 51,165
Total capital, capital ratio	0.122	0.144
Total capital, minimum capital adequacy	0.080	0.080
Total capital, well-capitalized	0.100	0.100
Tier 1 leverage capital:
Tier 1 leverage capital	$ 26,699	$ 46,630
Tier 1 leverage, capital ratio	0.074	0.105
Tier 1 leverage, minimum capital adequacy	0.040	0.040
Tier 1 leverage, well-capitalized	0.050	0.050
Supplementary leverage:
Tier one capital under BaselIII standardized approach	$ 26,699	$ 46,630
Basel III Supplementary Leverage Ratio	0.066	0.090
Supplementary leverage	0.030	0.030

Regulatory and Capital Adequacy - Additional Information (Details)		12 Months Ended	36 Months Ended
	Jan. 01, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2025 USD ($)	Dec. 31, 2022 USD ($)
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Common equity Tier 1 capital		$ 43,501,000,000		$ 44,731,000,000
Common equity Tier 1 capital, capital ratio		0.131		0.125
Regulatory Capital Adjustments, Net of Tax, CECL Transition		$ 2,400,000,000
Common Equity Tier One Capital Ratio, CECL Transition				12.50%
Common Equity Tier One Capital Ratio, Excluding CECL Transition Adjustment				12.00%
Regulatory Capital Adjustments, Net of Tax, CECL Transition, Phased in Amount	$ 599,000,000
Forecast
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Regulatory Capital Adjustments, Net of Tax, CECL Transition, Phased in Amount			$ 1,800,000,000
Capital One Bank (USA), N.A.
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Funds available for dividend payments				$ 3,200,000,000
Capital One, N.A.
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Common equity Tier 1 capital		$ 26,699,000,000		$ 46,630,000,000
Common equity Tier 1 capital, capital ratio		0.111		0.131

Earnings Per Common Share - Additional Information (Details) - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Award
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive options excluded from the computation of diluted earnings per share (in shares)	24	26	6
Stock option
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive options excluded from the computation of diluted earnings per share (in shares)	0	0	523
Minimum exercise price range (in dollars per share)			$ 63.73
Maximum exercise price range (in dollars per share)			$ 86.34

Earnings Per Common Share - Computation of Basic and Diluted Earnings Per Common Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Earnings Per Share [Abstract]
Income (loss) from continuing operations, net of tax	$ 7,360	$ 12,394	$ 2,717
Income (loss) from discontinued operations, net of tax	0	(4)	(3)
Net income	7,360	12,390	2,714
Dividends and undistributed earnings allocated to participating securities	(88)	(105)	(20)
Preferred stock dividends	(228)	(274)	(280)
Issuance cost for redeemed preferred stock	0	(46)	(39)
Net income available to common stockholders	$ 7,044	$ 11,965	$ 2,375
Total weighted-average basic common shares outstanding	391.8	442.5	457.8
Effect of dilutive securities:
Stock options	0.3	0.7	0.6
Other contingently issuable shares	1.1	1.0	0.5
Total effect of dilutive securities	1.4	1.7	1.1
Total weighted Average Number of Shares Outstanding, Diluted, Total	393.2	444.2	458.9
Basic earnings per common share:
Net income from continuing operations	$ 17.98	$ 27.05	$ 5.20
Income (loss) from discontinued operations	0.00	(0.01)	(0.01)
Net income per basic common share	17.98	27.04	5.19
Diluted earnings per common share:
Net income from continuing operations	17.91	26.95	5.19
Income (loss) from discontinued operations	0.00	(0.01)	(0.01)
Net income per diluted common share	$ 17.91	$ 26.94	$ 5.18

Stock-Based Compensation Plans - Summary of Restricted Stock Units and Performance Share Units (Details) - Amended and Restated 2004 Stock Incentive Plan - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Restricted Stock Units
Units
Unvested as of beginning of the period (in shares)	4,110
Granted (in shares)	2,987
Vested (in shares)	(1,696)
Forfeited (in shares)	(345)
Unvested as of end of period (in shares)	5,056	4,110
Weighted-Average Grant Date Fair Value per Unit
Unvested as of beginning of the period (in dollars per share)	$ 104.50
Granted (in dollars per share)	141.71	$ 127.37	$ 92.04
Vested (in dollars per share)	103.43
Forfeited (in dollars per share)	132.68
Unvested as of end of the period (in dollars per share)	$ 124.92	$ 104.50
Performance Share Units
Units
Unvested as of beginning of the period (in shares)	1,765
Granted (in shares)	870
Vested (in shares)	(888)
Forfeited (in shares)	(44)
Unvested as of end of period (in shares)	1,703	1,765
Weighted-Average Grant Date Fair Value per Unit
Unvested as of beginning of the period (in dollars per share)	$ 102.84
Granted (in dollars per share)	139.00	$ 112.51	$ 100.04
Vested (in dollars per share)	93.37
Forfeited (in dollars per share)	129.28
Unvested as of end of the period (in dollars per share)	$ 125.55	$ 102.84

Stock-Based Compensation Plans - Summary of Stock Options Activity (Details) - Amended and Restated 2004 Stock Incentive Plan $ / shares in Units, shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($) $ / shares shares
Shares Subject to Options
Outstanding as of beginning of the period (in shares) \| shares	875
Granted (in shares) \| shares	0
Exercised (in shares) \| shares	(334)
Forfeited (in shares) \| shares	0
Expired (in shares) \| shares	0
Outstanding as of end of the period (in shares) \| shares	541
Weighted- Average Exercise Price
Outstanding as of beginning of the period (in dollars per share) \| $ / shares	$ 67.92
Granted (in dollars per share) \| $ / shares	0.00
Exercised (in dollars per share) \| $ / shares	56.26
Forfeited (in dollars per share) \| $ / shares	0.00
Expired (in dollars per share) \| $ / shares	0.00
Outstanding as of end of the period (in dollars per share) \| $ / shares	$ 75.12
Weighted-Average Remaining Contractual Term, Outstanding at end of period, years	2 years 9 months 18 days
Aggregate Intrinsic Value, Outstanding, at end of period \| $	$ 10

Stock-Based Compensation Plans - Additional Information (Details) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($) plan $ / shares shares	Dec. 31, 2021 USD ($) $ / shares	Dec. 31, 2020 USD ($) $ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of active stock plans \| plan	1
Shares authorized under plans (in shares) \| shares	67
Compensation expense from award	$ 314	$ 331	$ 203
Recognized tax benefit from stock-based compensation arrangements	$ 75	62	43
Common Stock, Capital Shares Reserved for Future Issuance \| shares	13
Amended and Restated 2004 Stock Incentive Plan \| Cash-Settled Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cash payments to settle awards	$ 8	7	12
Amended and Restated 2004 Stock Incentive Plan \| Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)	3 years
Total fair value of awards vested	$ 248	202	140
Unrecognized compensation expense related to unvested awards, awards other than options	$ 372
Weighted-average period of recognition of unrecognized compensation costs (Years)	1 year 10 months 24 days
Amended and Restated 2004 Stock Incentive Plan \| Performance Share Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)	3 years
Total fair value of awards vested	$ 127	$ 94	$ 82
Unrecognized compensation expense related to unvested awards, awards other than options	$ 31
Weighted-average period of recognition of unrecognized compensation costs (Years)	1 year
Amended and Restated 2004 Stock Incentive Plan \| Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)	3 years
Maximum contractual term (in years)	10 years
Weighted-average fair value of options granted (in dollars per share) \| $ / shares	$ 0	$ 0	$ 0
Intrinsic value of stock options exercised	$ 18	$ 80	$ 65
Associate Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense from award	$ 36	$ 33	$ 30
Minimum \| Amended and Restated 2004 Stock Incentive Plan \| Performance Share Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Potential annual reduction in vesting based on performance (percent)	50.00%
Percentage of target award opportunities	0.00%
Maximum \| Amended and Restated 2004 Stock Incentive Plan \| Performance Share Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Potential annual reduction in vesting based on performance (percent)	100.00%
Percentage of target award opportunities	150.00%

Employee Benefit Plans - Defined Contribution Plan Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($) age	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Defined Contribution Plan Disclosure [Line Items]
Defined contribution plan, cost \| $	$ 444	$ 378	$ 350
Associate Savings Plan
Defined Contribution Plan Disclosure [Line Items]
Defined contribution plan, age eligible to participate \| age	18

Employee Benefit Plans - Changes in Benefit Obligation and Plan Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Change in plan assets:
Fair value of plan assets as of January 1,	$ 279
Fair value of plan assets as of December 31,	227	$ 279
Defined Pension Benefits
Change in benefit obligation:
Accumulated benefit obligation as of January 1,	163	178
Service cost	1	1
Interest cost	4	4
Benefits paid	(11)	(12)
Actuarial loss (gain)	(29)	(8)
Accumulated benefit obligation as of December 31,	128	163
Change in plan assets:
Fair value of plan assets as of January 1,	273	274
Actual return on plan assets	(41)	10
Employer contributions	1	1
Benefits paid	(11)	(12)
Fair value of plan assets as of December 31,	222	273
Over (under) funded status as of December 31,	94	110
Other Postretirement Benefits
Change in benefit obligation:
Accumulated benefit obligation as of January 1,	16	21
Service cost	0	0
Interest cost	0	0
Benefits paid	(1)	(2)
Actuarial loss (gain)	(3)	(3)
Accumulated benefit obligation as of December 31,	12	16
Change in plan assets:
Fair value of plan assets as of January 1,	6	6
Actual return on plan assets	(1)	1
Employer contributions	1	1
Benefits paid	(1)	(2)
Fair value of plan assets as of December 31,	5	6
Over (under) funded status as of December 31,	$ (7)	$ (10)

Employee Benefit Plans - Funded Status Recognized on Balance Sheet (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Defined Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Other assets	$ 102	$ 121
Other liabilities	(8)	(11)
Net amount recognized as of December 31,	94	110
Other Postretirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Other assets	0	0
Other liabilities	(7)	(10)
Net amount recognized as of December 31,	$ (7)	$ (10)

Employee Benefit Plans - Defined Benefit Plan and Other Postretirement Benefit Plans Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Defined Benefit Plan Disclosure [Line Items]
Net periodic benefit gain	$ 8	$ 12	$ 8
Other comprehensive income (loss), before tax	(24)	4	4
Plan assets	227	279
Defined Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
AOCI not yet recognized	(57)	(33)
Plan assets	222	273	274
Expected benefits to be paid in the next ten years	108
Other Postretirement Benefits
Defined Benefit Plan Disclosure [Line Items]
AOCI not yet recognized	3	3
Plan assets	5	$ 6	$ 6
Expected benefits to be paid in the next ten years	$ 11

- Definition

Amount of asset segregated and restricted to provide benefit under defined benefit plan. Asset includes, but is not limited to, stock, bond, other investment, earning from investment, and contribution by employer and employee.

+ References + Details

Income Taxes - Significant Components of Provision for Income Taxes Attributable to Continuing Operations (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Current income tax provision:
Federal taxes	$ 2,125	$ 2,173	$ 1,676
State taxes	423	485	370
International taxes	104	152	67
Total current provision	2,652	2,810	2,113
Deferred income tax provision (benefit):
Federal taxes	(662)	490	(1,357)
State taxes	(112)	91	(266)
International taxes	2	24	(4)
Total deferred provision (benefit)	(772)	605	(1,627)
Total income tax provision	$ 1,880	$ 3,415	$ 486

Income Taxes - Effective Income Tax Rate (Details)	12 Months Ended
Income Taxes - Effective Income Tax Rate (Details)	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Income tax at U.S. federal statutory tax rate	21.00%	21.00%	21.00%
State taxes, net of federal benefit	3.10%	3.10%	3.50%
Non-deductible expenses	0.60%	0.40%	3.20%
Affordable housing, new markets and other tax credits	(4.20%)	(2.30%)	(11.40%)
Tax-exempt interest and other nontaxable income	(0.40%)	(0.30%)	(1.70%)
Changes in valuation allowance	1.00%	0.40%	2.30%
Other, net	(0.80%)	(0.70%)	(1.70%)
Effective income tax rate	20.30%	21.60%	15.20%

Income Taxes - Significant Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Deferred tax assets:
Allowance for credit losses	$ 3,025	$ 2,657
Security and loan valuations	2,497	0
Rewards programs	790	825
Net unrealized losses on derivatives	689	0
Net operating loss and tax credit carryforwards	437	367
Compensation and employee benefits	411	337
Lease liabilities	346	345
Partnership investments	253	238
Other assets	507	359
Subtotal	8,955	5,128
Valuation allowance	(446)	(355)
Total deferred tax assets	8,509	4,773
Deferred tax liabilities:
Right-of-use assets	284	284
Original issue discount	241	361
Partnership investments	119	128
Mortgage servicing rights	95	88
Security and loan valuations	0	49
Net unrealized gains on derivatives	0	32
Other liabilities	111	123
Total deferred tax liabilities	850	1,065
Net deferred tax assets	$ 7,659	$ 3,708

Income Taxes - Reconciliation of Change in Unrecognized Tax Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Gross Unrecognized Tax Benefits
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Beginning balance	$ 405	$ 451	$ 431
Additions for tax positions related to the current year	3		33
Additions for tax positions related to prior years	14	1	3
Reductions for tax positions related to prior years due to IRS and other settlements	(381)	(47)	(16)
Ending balance	41	405	451
Portion of balance at December 31, that, if recognized, would impact the effective income tax rate	32
Accrued Interest and Penalties
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Beginning balance	14	46	31
Additions for tax positions related to the current year	0		0
Additions for tax positions related to prior years	6	4	21
Reductions for tax positions related to prior years due to IRS and other settlements	(10)	(36)	(6)
Ending balance	10	14	46
Portion of balance at December 31, that, if recognized, would impact the effective income tax rate	8
Gross Tax, Interest and Penalties
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Beginning balance	419	497	462
Additions for tax positions related to the current year	3		33
Additions for tax positions related to prior years	20	5	24
Reductions for tax positions related to prior years due to IRS and other settlements	(391)	(83)	(22)
Ending balance	51	$ 419	$ 497
Portion of balance at December 31, that, if recognized, would impact the effective income tax rate	$ 40

Income Taxes - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Additional Information [Line Items]
Pre-tax earnings from foreign operations	$ 462	$ 677	$ 293
Other comprehensive income (loss), provision (benefit)	3,184	985	(702)
Increase in valuation allowance	91
Valuation allowance	446	355
Accrued interest and penalties expense (benefit) related to income taxes included in income tax expense	(1)	(30)	$ 16
Unremitted earnings	1,700
Amount of unrecognized deferred tax liability, bad debt reserve for tax purposes of qualified lender	69
Bad debt reserve for tax purposes of qualified lender	287
Foreign Tax Credit Carryforward
Additional Information [Line Items]
Increase in valuation allowance	75
Net Operating State Losses And Interest Carryforwards
Additional Information [Line Items]
Increase in valuation allowance	15
Internal Revenue Service (IRS)
Additional Information [Line Items]
Operating loss carryforwards	13	25
Operating loss carryforwards, no expiration	13
State and Local Jurisdiction
Additional Information [Line Items]
Operating loss carryforwards	267	258
Foreign Tax Authority
Additional Information [Line Items]
Operating loss carryforwards	$ 166	$ 91

Fair Value Measurement - Additional Information (Details) - Appraisal value - Level 3 - Non-Recoverable Rate	Dec. 31, 2022	Dec. 31, 2021
Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held for investment, measurement input	0.00%	0.00%
Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held for investment, measurement input	43.00%	100.00%
Weighted average
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held for investment, measurement input	20.00%	13.00%

Fair Value Measurement - Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Assets:
Securities available for sale (amortized cost of $87.0 billion and $94.9 billion and allowance for credit losses of $3 million and $1 million as of December 31, 2022 and 2021, respectively)	$ 76,919	$ 95,261
Loans Held-for-sale, Fair Value Disclosure	191	1,000
Derivative assets, gross amount	3,098	2,690
Derivative asset, netting adjustments	(1,134)	(542)
Derivative asset	$ 1,964	2,148
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Other liabilities
Liabilities:
Derivative liabilities, gross amount	$ 4,550	1,868
Derivative liability, netting adjustments	(1,235)	(544)
Derivative liability	3,315	1,324
Net valuation allowance	4	11
Level 1
Assets:
Loans Held-for-sale, Fair Value Disclosure	0	0
Level 2
Assets:
Loans Held-for-sale, Fair Value Disclosure	11	5,091
Level 3
Assets:
Loans Held-for-sale, Fair Value Disclosure	0	0
Recurring
Assets:
Securities available for sale (amortized cost of $87.0 billion and $94.9 billion and allowance for credit losses of $3 million and $1 million as of December 31, 2022 and 2021, respectively)	76,919	95,261
Loans Held-for-sale, Fair Value Disclosure	191	1,026
Derivative asset	1,964	2,148
Other assets	503	573
Total assets	79,577	99,008
Liabilities:
Derivative liability	3,315	1,324
Recurring \| Level 1
Assets:
Securities available for sale (amortized cost of $87.0 billion and $94.9 billion and allowance for credit losses of $3 million and $1 million as of December 31, 2022 and 2021, respectively)	5,227	9,648
Loans Held-for-sale, Fair Value Disclosure	0	0
Derivative assets, gross amount	474	406
Other assets	464	526
Total assets	6,165	10,580
Other assets:
Deferred compensation plan assets	453	490
Liabilities:
Derivative liabilities, gross amount	823	838
Recurring \| Level 2
Assets:
Securities available for sale (amortized cost of $87.0 billion and $94.9 billion and allowance for credit losses of $3 million and $1 million as of December 31, 2022 and 2021, respectively)	71,314	85,346
Loans Held-for-sale, Fair Value Disclosure	191	1,026
Derivative assets, gross amount	2,545	2,200
Other assets	3	6
Total assets	74,053	88,578
Liabilities:
Derivative liabilities, gross amount	3,653	965
Recurring \| Level 3
Assets:
Securities available for sale (amortized cost of $87.0 billion and $94.9 billion and allowance for credit losses of $3 million and $1 million as of December 31, 2022 and 2021, respectively)	378	267
Loans Held-for-sale, Fair Value Disclosure	0	0
Derivative assets, gross amount	79	84	$ 141
Other assets	36	41
Total assets	493	392
Other assets:
Retained interests in securitizations	36	41
Liabilities:
Derivative liabilities, gross amount	74	65	$ 110
Recurring \| Fair Value Inputs Level 1 And Level 2 [Member]
Other assets:
Equity securities	14	42
Liabilities:
Debt and Equity Securities, Unrealized Gain (Loss)	(23)	(36)
U.S. Treasury securities
Assets:
Securities available for sale (amortized cost of $87.0 billion and $94.9 billion and allowance for credit losses of $3 million and $1 million as of December 31, 2022 and 2021, respectively)	5,041	9,442
U.S. Treasury securities \| Recurring
Assets:
Securities available for sale (amortized cost of $87.0 billion and $94.9 billion and allowance for credit losses of $3 million and $1 million as of December 31, 2022 and 2021, respectively)	5,041	9,442
U.S. Treasury securities \| Recurring \| Level 1
Assets:
Securities available for sale (amortized cost of $87.0 billion and $94.9 billion and allowance for credit losses of $3 million and $1 million as of December 31, 2022 and 2021, respectively)	5,041	9,442
U.S. Treasury securities \| Recurring \| Level 2
Assets:
Securities available for sale (amortized cost of $87.0 billion and $94.9 billion and allowance for credit losses of $3 million and $1 million as of December 31, 2022 and 2021, respectively)	0	0
U.S. Treasury securities \| Recurring \| Level 3
Assets:
Securities available for sale (amortized cost of $87.0 billion and $94.9 billion and allowance for credit losses of $3 million and $1 million as of December 31, 2022 and 2021, respectively)	0	0
RMBS
Assets:
Securities available for sale (amortized cost of $87.0 billion and $94.9 billion and allowance for credit losses of $3 million and $1 million as of December 31, 2022 and 2021, respectively)	62,589	73,616
RMBS \| Recurring
Assets:
Securities available for sale (amortized cost of $87.0 billion and $94.9 billion and allowance for credit losses of $3 million and $1 million as of December 31, 2022 and 2021, respectively)	62,589	73,616
RMBS \| Recurring \| Level 1
Assets:
Securities available for sale (amortized cost of $87.0 billion and $94.9 billion and allowance for credit losses of $3 million and $1 million as of December 31, 2022 and 2021, respectively)	0	0
RMBS \| Recurring \| Level 2
Assets:
Securities available for sale (amortized cost of $87.0 billion and $94.9 billion and allowance for credit losses of $3 million and $1 million as of December 31, 2022 and 2021, respectively)	62,353	73,358
RMBS \| Recurring \| Level 3
Assets:
Securities available for sale (amortized cost of $87.0 billion and $94.9 billion and allowance for credit losses of $3 million and $1 million as of December 31, 2022 and 2021, respectively)	236	258
CMBS \| Recurring
Assets:
Securities available for sale (amortized cost of $87.0 billion and $94.9 billion and allowance for credit losses of $3 million and $1 million as of December 31, 2022 and 2021, respectively)	7,870	9,369
CMBS \| Recurring \| Level 1
Assets:
Securities available for sale (amortized cost of $87.0 billion and $94.9 billion and allowance for credit losses of $3 million and $1 million as of December 31, 2022 and 2021, respectively)	0	0
CMBS \| Recurring \| Level 2
Assets:
Securities available for sale (amortized cost of $87.0 billion and $94.9 billion and allowance for credit losses of $3 million and $1 million as of December 31, 2022 and 2021, respectively)	7,728	9,360
CMBS \| Recurring \| Level 3
Assets:
Securities available for sale (amortized cost of $87.0 billion and $94.9 billion and allowance for credit losses of $3 million and $1 million as of December 31, 2022 and 2021, respectively)	142	9
Other securities
Assets:
Securities available for sale (amortized cost of $87.0 billion and $94.9 billion and allowance for credit losses of $3 million and $1 million as of December 31, 2022 and 2021, respectively)	1,419	2,834
Other securities \| Recurring
Assets:
Securities available for sale (amortized cost of $87.0 billion and $94.9 billion and allowance for credit losses of $3 million and $1 million as of December 31, 2022 and 2021, respectively)	1,419	2,834
Other securities \| Recurring \| Level 1
Assets:
Securities available for sale (amortized cost of $87.0 billion and $94.9 billion and allowance for credit losses of $3 million and $1 million as of December 31, 2022 and 2021, respectively)	186	206
Other securities \| Recurring \| Level 2
Assets:
Securities available for sale (amortized cost of $87.0 billion and $94.9 billion and allowance for credit losses of $3 million and $1 million as of December 31, 2022 and 2021, respectively)	1,233	2,628
Other securities \| Recurring \| Level 3
Assets:
Securities available for sale (amortized cost of $87.0 billion and $94.9 billion and allowance for credit losses of $3 million and $1 million as of December 31, 2022 and 2021, respectively)	$ 0	$ 0

Fair Value Measurement - Level 3 Recurring Fair Value Rollforward (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Jan. 01, 2020
Derivative, Fair Value, Net [Abstract]
Derivative assets, gross amount	$ 3,098	$ 2,690
Derivative liabilities, gross amount	$ 4,550	1,868
Fair Value, RMBS, Cumulative Effects from the Adoption of the CECL Standard				$ 4
Fair Value, Net Derivative Asset (Liability), Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other comprehensive income (loss), net of tax
Recurring \| Level 3
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Net Unrealized Gains (Losses) Included in OCI Related to Assets and Liabilities Still Held	$ (57)	(4)	$ (21)
Derivative, Fair Value, Net [Abstract]
Beginning balance	19	31	26
Total Gains or (Losses) (Realized/Unrealized), Included in Net Income	(65)	(43)	10
Total Gains or (Losses) (Realized/Unrealized), Included in OCI	0	0	0
Purchases	0	0	0
Sales	0	0	0
Issuances	36	68	43
Settlements	3	(37)	(37)
Transfers Into Level 3	(28)	6	0
Transfers Out of Level 3	40	(6)	(11)
Ending balance	5	19	31
Derivative assets, gross amount	79	84	141
Derivative liabilities, gross amount	74	65	110
RMBS \| Recurring \| Level 3
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	258	328	433
Total Gains or (Losses) (Realized/Unrealized), Included in Net Income	18	18	22
Total Gains or (Losses) (Realized/Unrealized), Included in OCI	(32)	5	(19)
Purchases	0	0	0
Sales	0	0	0
Issuances	0	0	0
Settlements	(60)	(91)	(72)
Transfers Into Level 3	123	106	206
Transfers Out of Level 3	(71)	(108)	(242)
Ending balance	236	258	328
Net Unrealized Gains (Losses) Included in Net Income Related to Assets and Liabilities Still Held	10	15	16
CMBS \| Recurring \| Level 3
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	9	111	13
Total Gains or (Losses) (Realized/Unrealized), Included in Net Income	(1)	0	(3)
Total Gains or (Losses) (Realized/Unrealized), Included in OCI	(3)	(2)	(9)
Purchases	0	0	0
Sales	0	0	0
Issuances	0	0	0
Settlements	(15)	(7)	(32)
Transfers Into Level 3	190	0	371
Transfers Out of Level 3	(38)	(93)	(229)
Ending balance	142	9	111
Net Unrealized Gains (Losses) Included in Net Income Related to Assets and Liabilities Still Held	(1)	0	0
Available-for-sale securities \| Recurring \| Level 3
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	267	439	446
Total Gains or (Losses) (Realized/Unrealized), Included in Net Income	17	18	19
Total Gains or (Losses) (Realized/Unrealized), Included in OCI	(35)	3	(28)
Purchases	0	0	0
Sales	0	0	0
Issuances	0	0	0
Settlements	(75)	(98)	(104)
Transfers Into Level 3	313	106	577
Transfers Out of Level 3	(109)	(201)	(471)
Ending balance	378	267	439
Net Unrealized Gains (Losses) Included in Net Income Related to Assets and Liabilities Still Held	9	15	16
Retained interest in securitizations \| Recurring \| Level 3
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	41	55	66
Total Gains or (Losses) (Realized/Unrealized), Included in Net Income	(5)	(14)	(11)
Total Gains or (Losses) (Realized/Unrealized), Included in OCI	0	0	0
Purchases	0	0	0
Sales	0	0	0
Issuances	0	0	0
Settlements	0	0	0
Transfers Into Level 3	0	0	0
Transfers Out of Level 3	0	0	0
Ending balance	36	41	55
Net Unrealized Gains (Losses) Included in Net Income Related to Assets and Liabilities Still Held	(5)	(14)	(11)
Net derivative assets (liabilities) \| Recurring \| Level 3
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Net Unrealized Gains (Losses) Included in Net Income Related to Assets and Liabilities Still Held	$ (33)	$ (20)	$ 10

Fair Value Measurement - Nonrecurring Fair Value Measurements (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans Held-for-sale, Fair Value Disclosure	$ 191	$ 1,000
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net loans held for investment	0	0
Loans Held-for-sale, Fair Value Disclosure	11	5,091
Other investments	1,326	1,344
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net loans held for investment	302,920	270,508
Loans Held-for-sale, Fair Value Disclosure	0	0
Other investments	0	0
Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net loans held for investment	284	194
Loans Held-for-sale, Fair Value Disclosure	11	118
Other assets	220	325
Total assets	515	637
Nonrecurring \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net loans held for investment	0	0
Loans Held-for-sale, Fair Value Disclosure	11	118
Other assets	0	0
Total assets	11	118
Nonrecurring \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net loans held for investment	284	194
Loans Held-for-sale, Fair Value Disclosure	0	0
Other assets	220	325
Total assets	504	519
Equity investments subject to Impairment		50
Equity investments accounted for under measurement alternative	4	29
Foreclosed property and repossessed assets, fair value disclosure	55	40
Long lived assets held for sale	158	$ 206
Other investments	$ 3

Fair Value Measurement - Nonrecurring Fair Value Measurements Included in Earnings (Details) - Nonrecurring - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held for investment	$ 30	$ 2
Other assets	(38)	(72)
Total	$ (8)	$ (70)

Fair Value Measurement - Fair Value of Financial Instruments (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Financial assets:
Loans Held-for-sale, Fair Value Disclosure	$ 191	$ 1,000
Level 1
Financial assets:
Cash and cash equivalents	5,193	4,164
Restricted cash for securitization investors	400	308
Net loans held for investment	0	0
Loans Held-for-sale, Fair Value Disclosure	0	0
Interest receivable	0	0
Other investments	0	0
Financial liabilities:
Deposits with defined maturities	0	0
Securitized debt obligations	0	0
Senior and subordinated notes	0	0
Federal funds purchased and securities loaned or sold under agreements to repurchase	0	0
Interest payable	0	0
Level 2
Financial assets:
Cash and cash equivalents	25,663	17,582
Restricted cash for securitization investors	0	0
Net loans held for investment	0	0
Loans Held-for-sale, Fair Value Disclosure	11	5,091
Interest receivable	2,104	1,460
Other investments	1,326	1,344
Financial liabilities:
Deposits with defined maturities	45,531	18,062
Securitized debt obligations	16,918	15,122
Senior and subordinated notes	30,744	27,842
Federal funds purchased and securities loaned or sold under agreements to repurchase	883	820
Interest payable	527	281
Level 3
Financial assets:
Cash and cash equivalents	0	0
Restricted cash for securitization investors	0	0
Net loans held for investment	302,920	270,508
Loans Held-for-sale, Fair Value Disclosure	0	0
Interest receivable	0	0
Other investments	0	0
Financial liabilities:
Deposits with defined maturities	0	0
Securitized debt obligations	0	0
Senior and subordinated notes	0	0
Federal funds purchased and securities loaned or sold under agreements to repurchase	0	0
Interest payable	0	0
Carrying Value
Financial assets:
Cash and cash equivalents	30,856	21,746
Restricted cash for securitization investors	400	308
Net loans held for investment	299,091	265,910
Loans Held-for-sale, Fair Value Disclosure	11	4,862
Interest receivable	2,104	1,460
Other investments	1,326	1,344
Financial liabilities:
Deposits with defined maturities	45,858	17,923
Securitized debt obligations	16,973	14,994
Senior and subordinated notes	30,826	27,219
Federal funds purchased and securities loaned or sold under agreements to repurchase	883	820
Interest payable	527	281
Estimated Fair Value
Financial assets:
Cash and cash equivalents	30,856	21,746
Restricted cash for securitization investors	400	308
Net loans held for investment	302,920	270,508
Loans Held-for-sale, Fair Value Disclosure	11	5,091
Interest receivable	2,104	1,460
Other investments	1,326	1,344
Financial liabilities:
Deposits with defined maturities	45,531	18,062
Securitized debt obligations	16,918	15,122
Senior and subordinated notes	30,744	27,842
Federal funds purchased and securities loaned or sold under agreements to repurchase	883	820
Interest payable	$ 527	$ 281

Business Segments and Revenue from Contracts with Customers - Additional Information (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($) segment
Segment Reporting Information [Line Items]
Number of operating segments \| segment	3
Commercial Banking \| Minimum
Segment Reporting Information [Line Items]
Customer Net Revenue Range	$ 20
Commercial Banking \| Maximum
Segment Reporting Information [Line Items]
Customer Net Revenue Range	$ 2,000

Business Segments and Revenue from Contracts with Customers - Segment Results and Reconciliation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Segment Reporting Information [Line Items]
Net interest income (loss)	$ 27,114	$ 24,171	$ 22,913
Non-interest income (loss)	7,136	6,264	5,610
Total net revenue (loss)	34,250	30,435	28,523
Provision (benefit) for credit losses	5,847	(1,944)	10,264
Non-interest expense	19,163	16,570	15,056
Income (loss) from continuing operations before income taxes	9,240	15,809	3,203
Income tax provision (benefit)	1,880	3,415	486
Income (loss) from continuing operations, net of tax	7,360	12,394	2,717
Total loans held for investment	312,331	277,340	251,624
Total Deposits	332,992	310,980	305,442
Uncollectible portion of billed finance charges and fees	946	629	1,100
Operating segments \| Credit Card
Segment Reporting Information [Line Items]
Net interest income (loss)	16,584	14,074	13,776
Non-interest income (loss)	5,771	4,806	3,823
Total net revenue (loss)	22,355	18,880	17,599
Provision (benefit) for credit losses	4,265	(902)	7,327
Non-interest expense	11,627	9,621	8,491
Income (loss) from continuing operations before income taxes	6,463	10,161	1,781
Income tax provision (benefit)	1,536	2,403	420
Income (loss) from continuing operations, net of tax	4,927	7,758	1,361
Total loans held for investment	137,730	114,772	106,956
Total Deposits	0	0	0
Operating segments \| Consumer Banking
Segment Reporting Information [Line Items]
Net interest income (loss)	8,965	8,448	7,238
Non-interest income (loss)	469	554	466
Total net revenue (loss)	9,434	9,002	7,704
Provision (benefit) for credit losses	1,173	(521)	1,753
Non-interest expense	5,312	4,711	4,159
Income (loss) from continuing operations before income taxes	2,949	4,812	1,792
Income tax provision (benefit)	699	1,136	425
Income (loss) from continuing operations, net of tax	2,250	3,676	1,367
Total loans held for investment	79,925	77,646	68,888
Total Deposits	270,592	256,407	249,815
Operating segments \| Commercial Banking
Segment Reporting Information [Line Items]
Net interest income (loss)	2,461	2,153	2,048
Non-interest income (loss)	1,129	1,148	923
Total net revenue (loss)	3,590	3,301	2,971
Provision (benefit) for credit losses	415	(519)	1,181
Non-interest expense	2,070	1,815	1,706
Income (loss) from continuing operations before income taxes	1,105	2,005	84
Income tax provision (benefit)	262	473	19
Income (loss) from continuing operations, net of tax	843	1,532	65
Total loans held for investment	94,676	84,922	75,780
Total Deposits	40,808	44,809	39,590
Other
Segment Reporting Information [Line Items]
Net interest income (loss)	(896)	(504)	(149)
Non-interest income (loss)	(233)	(244)	398
Total net revenue (loss)	(1,129)	(748)	249
Provision (benefit) for credit losses	(6)	(2)	3
Non-interest expense	154	423	700
Income (loss) from continuing operations before income taxes	(1,277)	(1,169)	(454)
Income tax provision (benefit)	(617)	(597)	(378)
Income (loss) from continuing operations, net of tax	(660)	(572)	(76)
Total loans held for investment	0	0	0
Total Deposits	$ 21,592	$ 9,764	$ 16,037

Business Segments and Revenue from Contracts with Customers - Revenue from Contracts with Customers (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disaggregation of Revenue [Line Items]
Total contract revenue	$ 5,417	$ 4,780	$ 3,737
Revenue (reduction) from other sources	1,719	1,484	1,873
Non-interest income (loss)	7,136	6,264	5,610
Operating segments \| Credit Card
Disaggregation of Revenue [Line Items]
Total contract revenue	4,573	3,880	3,062
Revenue (reduction) from other sources	1,198	926	761
Non-interest income (loss)	5,771	4,806	3,823
Operating segments \| Consumer Banking
Disaggregation of Revenue [Line Items]
Total contract revenue	485	513	436
Revenue (reduction) from other sources	(16)	41	30
Non-interest income (loss)	469	554	466
Operating segments \| Commercial Banking
Disaggregation of Revenue [Line Items]
Total contract revenue	361	388	242
Revenue (reduction) from other sources	768	760	681
Non-interest income (loss)	1,129	1,148	923
Other
Disaggregation of Revenue [Line Items]
Total contract revenue	(2)	(1)	(3)
Revenue (reduction) from other sources	(231)	(243)	401
Non-interest income (loss)	(233)	(244)	398
Interchange fees, net
Disaggregation of Revenue [Line Items]
Total contract revenue	4,606	3,860	3,017
Customer reward expenses	7,600	6,400	4,900
Interchange fees, net \| Operating segments \| Credit Card
Disaggregation of Revenue [Line Items]
Total contract revenue	4,178	3,497	2,747
Interchange fees, net \| Operating segments \| Consumer Banking
Disaggregation of Revenue [Line Items]
Total contract revenue	320	267	209
Interchange fees, net \| Operating segments \| Commercial Banking
Disaggregation of Revenue [Line Items]
Total contract revenue	109	96	63
Interchange fees, net \| Other
Disaggregation of Revenue [Line Items]
Total contract revenue	(1)	0	(2)
Service charges and other customer-related fees
Disaggregation of Revenue [Line Items]
Total contract revenue	327	457	362
Service charges and other customer-related fees \| Operating segments \| Credit Card
Disaggregation of Revenue [Line Items]
Total contract revenue	0	0	0
Service charges and other customer-related fees \| Operating segments \| Consumer Banking
Disaggregation of Revenue [Line Items]
Total contract revenue	91	171	188
Service charges and other customer-related fees \| Operating segments \| Commercial Banking
Disaggregation of Revenue [Line Items]
Total contract revenue	236	287	175
Service charges and other customer-related fees \| Other
Disaggregation of Revenue [Line Items]
Total contract revenue	0	(1)	(1)
Other
Disaggregation of Revenue [Line Items]
Total contract revenue	484	463	358
Other \| Operating segments \| Credit Card
Disaggregation of Revenue [Line Items]
Total contract revenue	395	383	315
Other \| Operating segments \| Consumer Banking
Disaggregation of Revenue [Line Items]
Total contract revenue	74	75	39
Other \| Operating segments \| Commercial Banking
Disaggregation of Revenue [Line Items]
Total contract revenue	16	5	4
Other \| Other
Disaggregation of Revenue [Line Items]
Total contract revenue	$ (1)	$ 0	$ 0

Commitments, Contingencies, Guarantees, and Others - Unfunded Lending Commitments: Contractual Amount and Carrying Value (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Loss Contingencies [Line Items]
Unfunded lending commitments, contractual amount	$ 409,314	$ 414,499
Off-balance sheet lending commitment, carrying value	204	149
Credit Card
Loss Contingencies [Line Items]
Unused commitments to extend credit, contractual amount	359,507	368,508
Other excluding credit card
Loss Contingencies [Line Items]
Unused commitments to extend credit, contractual amount	48,405	44,572
Off-balance sheet lending commitment, carrying value	176	125
Advised line of credit	4,400	3,900
Letter of credit
Loss Contingencies [Line Items]
Standby letters of credit and commercial letters of credit, contractual amount	1,402	1,419
Off-balance sheet lending commitment, carrying value	$ 28	$ 24

Commitments, Contingencies, Guarantees, and Others - Loss Sharing and UK PPI (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Loss sharing agreements
Loss Contingencies [Line Items]
Guarantee obligation	$ 82	$ 90

Commitments, Contingencies, Guarantees, and Others - Litigation (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($) claim
Loss Contingencies [Line Items]
Loss contingency, estimate of possible loss	$ 200
Interchange litigation \| Pending litigation
Loss Contingencies [Line Items]
Litigation settlement, attributable to reporting entity and third party	$ 5,500
Cybersecurity Incident
Loss Contingencies [Line Items]
Number of consumer class action cases filed for Cybersecurity Incident \| claim	75
Penalty Paid to the US Treasury	$ 80

Capital One Financial Corporation (Parent Company Only) - Statements of Income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Condensed Income Statements, Captions [Line Items]
Interest income	$ 31,237	$ 25,769	$ 26,033
Interest expense	4,123	1,598	3,120
Provision (benefit) for credit losses	5,847	(1,944)	10,264
Non-interest income (loss)	7,136	6,264	5,610
Non-interest expense	19,163	16,570	15,056
Income tax benefit	1,880	3,415	486
Net income	7,360	12,390	2,714
Comprehensive income	(2,930)	9,270	5,060
Parent Company
Condensed Income Statements, Captions [Line Items]
Interest income	595	151	186
Interest expense	969	392	510
Provision (benefit) for credit losses	(1)	(1)	0
Dividends from subsidiaries	4,352	13,970	3,003
Non-interest income (loss)	(15)	(26)	(127)
Non-interest expense	35	36	33
Income before income taxes and equity in undistributed earnings of subsidiaries	3,929	13,668	2,519
Income tax benefit	(181)	(82)	(93)
Equity in undistributed earnings of subsidiaries	3,250	(1,360)	102
Net income	7,360	12,390	2,714
Other comprehensive income (loss), net of tax	(10,290)	(3,120)	2,346
Comprehensive income	$ (2,930)	$ 9,270	$ 5,060

Capital One Financial Corporation (Parent Company Only) - Balance Sheets (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Assets:
Cash and cash equivalents	$ 30,856	$ 21,746
Other assets	26,548	22,816
Total assets	455,249	432,381
Liabilities:
Senior and subordinated notes	30,826	27,219
Other liabilities	20,433	17,005
Total liabilities	402,667	371,352
Stockholders’ equity:
Stockholders' Equity Attributable to Parent	52,582	61,029	$ 60,204	$ 58,011
Total liabilities and stockholders’ equity	455,249	432,381
Parent Company
Assets:
Cash and cash equivalents	22,006	16,910
Investments in subsidiaries	50,523	57,600
Receivables From Subsidiaries	6,710	7,849
Securities available for sale (amortized cost of $87.0 billion and $94.9 billion and allowance for credit losses of $3 million and $1 million as of December 31, 2022 and 2021, respectively)	395	513
Other assets	2,281	1,330
Total assets	81,915	84,202
Liabilities:
Senior and subordinated notes	28,970	23,017
Other liabilities	363	156
Total liabilities	29,333	23,173
Stockholders’ equity:
Stockholders' Equity Attributable to Parent	52,582	61,029
Total liabilities and stockholders’ equity	$ 81,915	$ 84,202

Capital One Financial Corporation (Parent Company Only) - Statements of Cash Flows (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Operating activities:
Net income	$ 7,360	$ 12,390	$ 2,714
Adjustments to reconcile net income (loss) to net cash from operating activities:
Net cash from operating activities	13,809	12,310	16,699
Investing activities:
Net cash from investing activities	(29,738)	(31,501)	(14,841)
Common stock:
Net proceeds from issuances	276	253	241
Dividends paid	(950)	(1,148)	(460)
Preferred stock:
Net proceeds from issuances	0	2,052	1,330
Dividends paid	(228)	(274)	(280)
Redemptions	0	(2,100)	(1,375)
Purchases of treasury stock	(4,948)	(7,605)	(393)
Proceeds from share-based payment activities	19	55	62
Net cash from (used in) financing activities	25,131	474	25,164
Changes in cash and cash equivalents	9,202	(18,717)	27,022
Cash, cash equivalents and restricted cash for securitization investors, beginning of the period	22,054	40,771	13,749
Cash, cash equivalents and restricted cash for securitization investors, end of the period	31,256	22,054	40,771
Parent Company
Operating activities:
Net income	7,360	12,390	2,714
Adjustments to reconcile net income (loss) to net cash from operating activities:
Equity in undistributed earnings of subsidiaries	(3,250)	1,360	(102)
Other operating activities	(2,429)	(4,523)	1,217
Net cash from operating activities	1,681	9,227	3,829
Investing activities:
Changes in investments in subsidiaries	0	3,521	(217)
Proceeds from paydowns and maturities of securities available for sale	96	141	117
Debt Securities, Available-for-Sale, Purchased with Credit Deterioration, Amount at Purchase Price	(10)	0	0
Changes in loans to subsidiaries	1,139	(1,925)	(2,019)
Net cash from investing activities	1,225	1,737	(2,119)
Financing activities:
Issuance of senior and subordinated notes	9,271	4,487	1,991
Maturities and paydowns of senior and subordinated notes	(1,250)	(2,750)	(2,900)
Common stock:
Net proceeds from issuances	276	253	241
Dividends paid	(950)	(1,148)	(460)
Preferred stock:
Net proceeds from issuances	0	2,052	1,330
Dividends paid	(228)	(274)	(280)
Redemptions	0	(2,100)	(1,375)
Purchases of treasury stock	(4,948)	(7,605)	(393)
Proceeds from share-based payment activities	19	55	62
Net cash from (used in) financing activities	2,190	(7,030)	(1,784)
Changes in cash and cash equivalents	5,096	3,934	(74)
Cash, cash equivalents and restricted cash for securitization investors, beginning of the period	16,910	12,976	13,050
Cash, cash equivalents and restricted cash for securitization investors, end of the period	$ 22,006	$ 16,910	$ 12,976

Label	Element	Value
Credit Card Segment [Member]
Goodwill	us-gaap_Goodwill	$ 5,088,000,000
Commercial Banking Segment [Member]
Goodwill	us-gaap_Goodwill	4,920,000,000
Consumer Banking Segment [Member]
Goodwill	us-gaap_Goodwill	$ 4,645,000,000

- Definition

+ References + Details

Loans - Loan Portfolio Composition and Aging Analysis (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Financing Receivable, Past Due [Line Items]
Current	$ 302,305	$ 270,655
Total	$ 312,331	$ 277,340
Current, percentage of total loans	96.79%	97.59%
Percentage of total loans	100.00%	100.00%
Unamortized premiums and discounts, deferred fees and costs	$ 1,400	$ 1,400
Credit Card
Financing Receivable, Past Due [Line Items]
Current	132,961	112,148
Total	137,730	114,772
Consumer Banking
Financing Receivable, Past Due [Line Items]
Current	74,985	74,028
Total	79,925	77,646
Consumer Banking \| Auto
Financing Receivable, Past Due [Line Items]
Current	73,467	72,221
Total	78,373	75,779
Consumer Banking \| Retail banking
Financing Receivable, Past Due [Line Items]
Current	1,518	1,807
Total	1,552	1,867
Commercial Banking
Financing Receivable, Past Due [Line Items]
Current	94,359	84,479
Total	94,676	84,922
Commercial Banking \| Commercial and multifamily real estate
Financing Receivable, Past Due [Line Items]
Current	37,417	35,100
Total	37,453	35,262
Commercial Banking \| Commercial And Industrial [Member]
Financing Receivable, Past Due [Line Items]
Current	56,942	49,379
Total	$ 57,223	$ 49,660
30-59 days
Financing Receivable, Past Due [Line Items]
Past due, percentage of total loans	1.50%	1.26%
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Noncurrent	$ 4,666	$ 3,501
30-59 days \| Credit Card
Financing Receivable, Past Due [Line Items]
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Noncurrent	1,491	850
30-59 days \| Consumer Banking
Financing Receivable, Past Due [Line Items]
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Noncurrent	3,114	2,420
30-59 days \| Consumer Banking \| Auto
Financing Receivable, Past Due [Line Items]
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Noncurrent	3,101	2,385
30-59 days \| Consumer Banking \| Retail banking
Financing Receivable, Past Due [Line Items]
Total	13	35
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Noncurrent	13	35
30-59 days \| Commercial Banking
Financing Receivable, Past Due [Line Items]
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Noncurrent	61	231
30-59 days \| Commercial Banking \| Commercial and multifamily real estate
Financing Receivable, Past Due [Line Items]
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Noncurrent	0	92
30-59 days \| Commercial Banking \| Commercial And Industrial [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Noncurrent	$ 61	$ 139
60-89 days
Financing Receivable, Past Due [Line Items]
Past due, percentage of total loans	0.80%	0.60%
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Noncurrent	$ 2,511	$ 1,656
60-89 days \| Credit Card
Financing Receivable, Past Due [Line Items]
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Noncurrent	1,033	578
60-89 days \| Consumer Banking
Financing Receivable, Past Due [Line Items]
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Noncurrent	1,422	940
60-89 days \| Consumer Banking \| Auto
Financing Receivable, Past Due [Line Items]
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Noncurrent	1,418	933
60-89 days \| Consumer Banking \| Retail banking
Financing Receivable, Past Due [Line Items]
Total	4	7
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Noncurrent	4	7
60-89 days \| Commercial Banking
Financing Receivable, Past Due [Line Items]
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Noncurrent	56	138
60-89 days \| Commercial Banking \| Commercial and multifamily real estate
Financing Receivable, Past Due [Line Items]
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Noncurrent	1	35
60-89 days \| Commercial Banking \| Commercial And Industrial [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Noncurrent	$ 55	$ 103
Greater than 90 days
Financing Receivable, Past Due [Line Items]
Past due, percentage of total loans	0.91%	0.55%
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Noncurrent	$ 2,849	$ 1,528
Greater than 90 days \| Credit Card
Financing Receivable, Past Due [Line Items]
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Noncurrent	2,245	1,196
Greater than 90 days \| Consumer Banking
Financing Receivable, Past Due [Line Items]
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Noncurrent	404	258
Greater than 90 days \| Consumer Banking \| Auto
Financing Receivable, Past Due [Line Items]
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Noncurrent	387	240
Greater than 90 days \| Consumer Banking \| Retail banking
Financing Receivable, Past Due [Line Items]
Total	17	18
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Noncurrent	17	18
Greater than 90 days \| Commercial Banking
Financing Receivable, Past Due [Line Items]
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Noncurrent	200	74
Greater than 90 days \| Commercial Banking \| Commercial and multifamily real estate
Financing Receivable, Past Due [Line Items]
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Noncurrent	35	35
Greater than 90 days \| Commercial Banking \| Commercial And Industrial [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Noncurrent	$ 165	$ 39
Financial Asset, Past Due
Financing Receivable, Past Due [Line Items]
Past due total, percentage of total loans	3.21%	2.41%
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Noncurrent	$ 10,026	$ 6,685
Financial Asset, Past Due \| Credit Card
Financing Receivable, Past Due [Line Items]
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Noncurrent	4,769	2,624
Financial Asset, Past Due \| Consumer Banking
Financing Receivable, Past Due [Line Items]
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Noncurrent	4,940	3,618
Financial Asset, Past Due \| Consumer Banking \| Auto
Financing Receivable, Past Due [Line Items]
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Noncurrent	4,906	3,558
Financial Asset, Past Due \| Consumer Banking \| Retail banking
Financing Receivable, Past Due [Line Items]
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Noncurrent	34	60
Financial Asset, Past Due \| Commercial Banking
Financing Receivable, Past Due [Line Items]
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Noncurrent	317	443
Financial Asset, Past Due \| Commercial Banking \| Commercial and multifamily real estate
Financing Receivable, Past Due [Line Items]
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Noncurrent	36	162
Financial Asset, Past Due \| Commercial Banking \| Commercial And Industrial [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Noncurrent	281	281
Domestic credit card: \| Credit Card
Financing Receivable, Past Due [Line Items]
Current	127,066	106,312
Total	131,581	108,723
Domestic credit card: \| 30-59 days \| Credit Card
Financing Receivable, Past Due [Line Items]
Total	1,405	773
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Noncurrent	1,405	773
Domestic credit card: \| 60-89 days \| Credit Card
Financing Receivable, Past Due [Line Items]
Total	975	528
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Noncurrent	975	528
Domestic credit card: \| Greater than 90 days \| Credit Card
Financing Receivable, Past Due [Line Items]
Total	2,135	1,110
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Noncurrent	2,135	1,110
Domestic credit card: \| Financial Asset, Past Due \| Credit Card
Financing Receivable, Past Due [Line Items]
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Noncurrent	4,515	2,411
International card businesses: \| Credit Card
Financing Receivable, Past Due [Line Items]
Current	5,895	5,836
Total	6,149	6,049
International card businesses: \| 30-59 days \| Credit Card
Financing Receivable, Past Due [Line Items]
Total	86	77
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Noncurrent	86	77
International card businesses: \| 60-89 days \| Credit Card
Financing Receivable, Past Due [Line Items]
Total	58	50
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Noncurrent	58	50
International card businesses: \| Greater than 90 days \| Credit Card
Financing Receivable, Past Due [Line Items]
Total	110	86
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Noncurrent	110	86
International card businesses: \| Financial Asset, Past Due \| Credit Card
Financing Receivable, Past Due [Line Items]
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss, Noncurrent	$ 254	$ 213