Annual report pursuant to Section 13 and 15(d)

INCOME TAXES - Deferred Tax Assets and Liabilities (Details)

v3.24.0.1
INCOME TAXES - Deferred Tax Assets and Liabilities (Details) - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Deferred tax assets:    
Fair value adjustments $ 791 $ 917
Allowances for credit losses 564 526
Tax credit carryforward 240 59
Net operating and other loss carryforward 101 136
Research and development expenses 91 0
Lease liability 89 96
Purchase accounting and other intangibles 82 167
Pension and other employee benefits 70 68
Accrued expense/prepaid 61 8
Other assets 4 5
Total deferred tax assets 2,093 1,982
Deferred tax liabilities:    
Lease financing 873 955
Loan origination costs 155 97
Mortgage servicing rights 124 112
Operating assets 96 133
Right-of-use asset 62 67
Securities adjustments 40 42
Other liabilities 3 10
Total deferred tax liabilities 1,353 1,416
Net deferred tax asset (liability) before valuation allowance 740 566
Valuation allowance (30) (32)
Net deferred tax asset $ 710 $ 534