Company: TFC
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0000092230-25-000020
Chunk: 419

Company: TRUIST FINANCIAL CORP
Filing Date: 2025-02-25
Form: 10-K
Item: Item 7A
Chunk 419
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 which the DTAs or DTLs are expected to be realized. In the Consolidated Balance Sheets, a net deferred income tax asset is recorded in Other assets and a net deferred income tax liability is recorded in Other liabilities. Significant DTAs and DTLs, net of the federal impact for state taxes, are presented in the following table:December 31,(Dollars in millions)20242023DTAs:  Net unrealized losses in AOCI$2,541 $3,860 ALLL1,150 1,132 Employee compensation and benefits705 673 Research or experimental expenditures365 284 Operating lease liability319 339 Accruals and reserves265 330 Federal and state NOLs and other carryforwards163 121 Other15 30 Total gross DTAs5,523 6,769 Valuation allowance(104)(105)Total DTAs net of valuation allowance5,419 6,664 DTLs:Pension1,914 1,884 Goodwill and other intangible assets409 431 MSRs286 294 Equipment and auto leasing269 309 ROU assets245 253 Loans195 94 Partnerships100 333 Other56 29 Total DTLs3,474 3,627 Net DTA$1,945 $3,037 The DTAs include certain state NOLs and other state carryforwards that will expire, if not utilized, in varying amounts from 2025 to 2037. The Company had a valuation allowance recorded against certain state NOL carryforward DTAs of $104 million and $105 million at December 31, 2024 and 2023, respectively.The following table provides a rollforward of the Company’s gross federal and state UTBs, excluding interest and penalties:(Dollars in millions)Dec 31, 2024Dec 31, 2023Balance, January 1$80 $97 Increases in UTBs related to prior years4 2 Decreases in UTBs related to prior years— (12)Increases in UTBs related to the current year27 10 Decreases in UTBs related to settlements— (2)Decreases in UTBs related to lapse of the applicable statutes of limitations(20)(15)Balance, December 31$91 $80 The amount of UTBs that would favorably affect the