On February 20, 2024, the Company entered into an agreement to sell the remaining stake of the common equity in TIH to an investor group led by Stone Point Capital LLC and Clayton, Dubilier & Rice for a purchase price that implied an enterprise value for TIH of $15.5 billion. The divestiture of TIH represented a strategic shift that had a major effect on our operations and financial results. The Company reclassified all of the assets and liabilities of TIH to discontinued operations in connection with the announcement of the disposition of the business. As such, financial information attributed to TIH has been recast to reflect discontinued operations for the periods presented herein. On May 6, 2024, the Company completed the sale.

The following footnotes exclude discontinued operations for TIH, unless otherwise noted: “Note 6. Goodwill and Other Intangible Assets,” “Note 8. Other Assets and Liabilities,” “Note 12. Income Taxes,” “Note 13. Benefit Plans,” “Note 17. Computation of EPS,” and “Note 18. Operating Segments.”


Three Months Ended March 31, 2024 (Dollars in millions)


Interest Income
Interest on other earning assets	$	24
Total interest income	24
Noninterest income
Insurance income	892
Other income	5
Total noninterest income	897
Noninterest expense
Personnel expense	634
Professional fees and outside processing	48
Software expense	17
Net occupancy expense	15
Equipment expense	9
Amortization of intangibles	21
Marketing and customer development	10

Restructuring charges	19
Other expense	58
Total noninterest expense	831
Earnings

Income before income taxes from discontinued operations	90
Provision for income taxes	23
Net income from discontinued operations	67
Noncontrolling interests	3
Net income from discontinued operations attributable to controlling interest	$	64

The components of net cash provided by operating, investing, and financing activities of discontinued operations included in the Consolidated Statements of Cash Flows are as follows:


Three Months Ended March 31, 2024 (Dollars in millions)


Net cash from operating activities	$	(346)
Net cash from investing activities	(4)
Net cash from financing activities	373