Company: CMA
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0000028412-25-000197
Chunk: 188

Company: COMERICA INC
Filing Date: 2025-07-30
Form: 10-Q
Item: Part I, Item 8
Chunk 188
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 other components of net benefit credit(21)(23)(42)(44)Net periodic defined benefit credit$(13)$(14)$(25)$(27)Non-Qualified Defined Benefit Pension PlanThree Months Ended June 30,Six Months Ended June 30,(in millions)2025202420252024Service cost$1 $— $2 $1 Other components of net benefit cost:Interest cost2 2 4 4 Amortization of prior service credit(1)(1)(2)(3)Amortization of net loss1 1 2 2 Total other components of net benefit cost2 2 4 3 Net periodic defined benefit cost$3 $2 $6 $4 Postretirement Benefit PlanThree Months Ended June 30,Six Months Ended June 30,(in millions)2025202420252024Other components of net benefit credit:Expected return on plan assets$— $— $(1)$(1)Net periodic defined benefit credit$— $— $(1)$(1)

NOTE 13 - INCOME TAXES AND TAX-RELATED ITEMS

Unrecognized tax benefits were $8 million at both June 30, 2025 and December 31, 2024. The Corporation anticipates a decrease of $2 million in net unrecognized tax benefits within the next twelve months. Included in accrued expenses and other liabilities on the Consolidated Balance Sheets was a liability of $1 million for tax-related interest and penalties at both June 30, 2025 and December 31, 2024. Net deferred tax assets were $819 million at June 30, 2025, compared to $1.0 billion at December 31, 2024. The decrease of approximately $215 million in net deferred tax assets resulted primarily from a decrease to deferred tax assets related to hedging gains and losses, net unrealized losses on investment securities available-for-sale and other timing differences. Included in deferred tax assets at both June 30, 2025 and December 31, 2024 were $2 million of state net operating loss (NOL) carryforwards and $9 million of federal foreign tax carryforwards. State NOL carryforwards expire between 2025 and 2044, and federal foreign tax credit carryforwards expire between 2029 and 2035. The Corporation believes that it is more likely than not that the benefit from federal foreign tax credits