Company: TFC
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0000092230-25-000020
Chunk: 30

Company: TRUIST FINANCIAL CORP
Filing Date: 2025-02-25
Form: 10-K
Item: Item 3
Chunk 30
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 Company Financial Information

Parent Company - Condensed Balance Sheets(Dollars in millions)December 31,20242023Assets:  Cash and due from banks$21 $22 Interest-bearing deposits with banks11,170 11,264 AFS securities at fair value222 218 Advances to / receivables from subsidiaries:Banking11,292 8,044 Nonbank224 396 Total advances to / receivables from subsidiaries11,516 8,440 Investment in subsidiaries:Banking60,832 57,994 Nonbank4,742 4,666 Total investment in subsidiaries65,574 62,660 Other assets293 258 Total assets$88,796 $82,862 Liabilities and Shareholders’ Equity: Short-term borrowings$137 $196 Long-term debt24,596 23,267 Other liabilities384 298 Total liabilities25,117 23,761 Total shareholders’ equity63,679 59,101 Total liabilities and shareholders’ equity$88,796 $82,862 Parent Company - Condensed Income and Comprehensive Income Statements(Dollars in millions)Year Ended December 31,202420232022Income:   Dividends from subsidiaries:Banking$7,224 $4,925 $4,800 Nonbank137 72 170 Total dividends from subsidiaries7,361 4,997 4,970 Interest and other income from subsidiaries732 359 100 Other income47 25 27 Total income8,140 5,381 5,097 Expenses: Interest expense1,382 957 369 Other expenses130 142 131 Total expenses1,512 1,099 500 Income before income taxes and equity in undistributed earnings of subsidiaries6,628 4,282 4,597 Income tax benefit163 180 50 Income before equity in undistributed earnings of subsidiaries6,791 4,462 4,647 Equity in undistributed earnings (losses) of subsidiaries in excess of dividends from subsidiaries(1,951)(5,509)1,620 Net income (loss)4,840 (1,047)6,267 Total OCI4,293 1,095 (11,997)Total comprehensive income$9,133 $48 $(5,730