Company: CMA
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000028412-25-000108
Chunk: 89

Company: COMERICA INC
Filing Date: 2025-02-24
Form: 10-K
Item: Item 1
Chunk 89
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.9 billion in 2024, compared to $5.8 billion in 2023, driven by an increase in longer-term FHLB advances and the issuance of $1.0 billion in senior notes in January 2024, partially offset by a $500 million senior note maturity in July 2024. Further information on medium- and long-term debt is provided in Note 12 to the consolidated financial statements.

Capital

Total shareholders' equity increased $137 million to $6.5 billion at December 31, 2024, compared to $6.4 billion at December 31, 2023. The following table presents a summary of changes in total shareholders' equity in 2024.

F-16

(in millions)  Balance at January 1, 2024$6,406 Cumulative effect of change in accounting principle (a)(4)Net income698 Cash dividends declared on common stock(376)Cash dividends declared on preferred stock(23)Purchase of common stock(100)Other comprehensive (loss) income, net of tax:Investment securities$(154)Cash flow hedges9 Defined benefit and other postretirement plans32 Total other comprehensive loss, net of tax(113)Net issuance of common stock under employee stock plans1 Share-based compensation54 Balance at December 31, 2024$6,543 

(a) Effective January 1, 2024, the Corporation adopted ASU 2023-02, which expanded the permitted use of the proportional amortization method to certain tax credit investments.

The following table summarizes the Corporation’s repurchase activity for the year ended December 31, 2024.

(shares in thousands)Total Number of Shares Purchased as Part of Publicly Announced Repurchase Plans or Programs Remaining ShareRepurchaseAuthorization (a)Total Numberof SharesPurchased (b)Average PricePaid Per ShareFirst Quarter 2024— 4,997 19 $50.95 Second Quarter 2024— 4,997 2 54.32 Third Quarter 2024— 4,997 2 51.21 Fourth Quarter 20241,499 13,498 1,502 63.49 Total 20241,499 13,498 1,525 63.30 

(a) Maximum number of shares that may be repurchased under the publicly announced plans or programs.