Company: TFC
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0000092230-25-000020
Chunk: 229

Company: TRUIST FINANCIAL CORP
Filing Date: 2025-02-25
Form: 10-K
Item: Item 2
Chunk 229
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 offers rewards and/or rebates to its client based on card usage. The costs associated with these programs are recognized as a reduction of card fees. Card and payment related fees are recognized in the CSBB and WB operating segments.Earnings Per ShareBasic EPS is computed by dividing net income available to common shareholders by the weighted average number of common shares outstanding during each period. Diluted EPS is computed by dividing net income available to common shareholders by the weighted average number of common shares outstanding during each period, plus common share equivalents calculated for stock options, warrants, and restricted stock outstanding using the treasury stock method, except in a net loss where diluted EPS is equal to basic. For additional information on the Company’s EPS, see “Note 20. Computation of EPS.”

108   Truist Financial Corporation

Related Party TransactionsThe Company periodically enters into transactions with certain of its executive officers, directors, affiliates, trusts, and/or other related parties in its ordinary course of business. The Company is required to disclose material related party transactions, other than certain compensation and other arrangements entered into in the normal course of business. For additional information on the Company’s related party activities, see “Note 2. Discontinued Operations,” “Note 15. Benefit Plans,” and “Note 16. Commitments and Contingencies.”Subsequent EventsThe Company evaluated events that occurred between December 31, 2024 and the date the accompanying financial statements were issued, and there were no material events, other than those already discussed, that would require recognition in the Company’s Consolidated Financial Statements or disclosure in the accompanying Notes.

Changes in Accounting Principles and Effects of New Accounting PronouncementsThe following table provides a summary of significant accounting pronouncements adopted during the current year and standards not yet adopted:Standard / Adoption DateDescriptionEffects on the Financial StatementsStandards Adopted During the Current YearImprovements to Reportable Segment DisclosuresDecember 31, 2024Improves reportable segment disclosure requirements primarily through enhanced disclosures about significant segment expenses.Truist adopted this standard on a retrospective basis. The Company’s revised disclosures in accordance with the new standard are included in “Note 21. Operating Segments.”Standards Not Yet AdoptedImprovements to Income Tax DisclosuresDecember 31, 2025Improves the transparency of income tax disclosures by requiring (1) consistent categories and greater disaggregation of information in the rate reconciliation and (2) income taxes paid disaggregated by jurisdiction. It also includes certain other amendments to improve the effectiveness of income tax disclosures.Truist