v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($)
$ in Millions
Total
Preferred Stock
Common Stock
Preferred Stock
Preferred Stock
Preferred Stock
Common Stock
Common Stock
Common Stock
Additional Paid-in Capital
Additional Paid-in Capital
Common Stock
Accumulated Other Comprehensive Income (Loss)
Retained Earnings
Beginning balance at Dec. 31, 2024 $ 6,432     $ 217   $ 77   $ 3,130   $ (168) $ 3,176
Increase (Decrease) in Stockholders' Equity [Roll Forward]                      
Net income 299                   299
Other comprehensive loss, net of income taxes (50)                 (50)  
Cash dividends declared and paid on common stock (38)                   (38)
Cash dividends declared and paid on preferred stock (8)                   (8)
Restricted shares withheld for taxes and related tax benefit (6)         1   (7)      
Issuance of common stock pursuant to RSU and PSU agreements, net of shares withheld for taxes and related tax benefits (13)             (13)      
Compensation expense for restricted share awards, RSUs and PSUs 21             21      
Ending balance at Jun. 30, 2025 6,637     217   78   3,131   (218) 3,429
Beginning balance at Mar. 31, 2025 6,543     217   77   3,122   (166) 3,293
Increase (Decrease) in Stockholders' Equity [Roll Forward]                      
Net income 159                   159
Other comprehensive loss, net of income taxes (52)                 (52)  
Cash dividends declared and paid on common stock (19)                   (19)
Cash dividends declared and paid on preferred stock (4)                   (4)
Restricted shares withheld for taxes and related tax benefit 0         1   (1)      
Compensation expense for restricted share awards, RSUs and PSUs 10             10      
Ending balance at Jun. 30, 2025 6,637     217   78   3,131   (218) 3,429
Beginning balance at Dec. 31, 2025 7,044     217   78   3,144   (123) 3,728
Increase (Decrease) in Stockholders' Equity [Roll Forward]                      
Net income 478                   478
Other comprehensive loss, net of income taxes (124)                 (124)  
Cash dividends declared and paid on common stock (150)                   (150)
Cash dividends declared and paid on preferred stock [1] (30)                   (30)
Issuance of common stock pursuant to RSU and PSU agreements, net of shares withheld for taxes and related tax benefits (73)             (70)     (3)
Compensation expense for restricted share awards, RSUs and PSUs 108             108      
Issuance of stock related to merger   $ 564 $ 7,011   $ 564   $ 73   $ 6,938    
Ending balance at Jun. 30, 2026 14,828     781   151   10,120   (247) 4,023
Beginning balance at Mar. 31, 2026 14,594     781   151   10,102   (225) 3,785
Increase (Decrease) in Stockholders' Equity [Roll Forward]                      
Net income 328                   328
Other comprehensive loss, net of income taxes (22)                 (22)  
Cash dividends declared and paid on common stock (75)                   (75)
Cash dividends declared and paid on preferred stock [2] (15)                   (15)
Compensation expense for restricted share awards, RSUs and PSUs 18             18      
Ending balance at Jun. 30, 2026 $ 14,828     $ 781   $ 151   $ 10,120   $ (247) $ 4,023
[1] For the six months ended June 30, 2026, dividends per share were $0.92 for Series A, $1.05 for Series B, and $33.76 for Series C Preferred Stock.
[2] For the three months ended June 30, 2026, dividends per share were $0.47 for Series A, $0.52 for Series B, and $16.88 for Series C Preferred Stock.