Company: CMA
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000028412-25-000108
Chunk: 575

Company: COMERICA INC
Filing Date: 2025-02-24
Form: 10-K
Item: Item 16
Chunk 575
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.625% and are payable in arrears when, as and if authorized by the Corporation’s Board of Directors or a duly authorized committee of the Board and declared by the Corporation, on the first day of January, April, July and October of each year, and commenced on October 1, 2020. Beginning on October 1, 2025 and every five years thereafter, the per annum dividend rate on outstanding shares of Series A preferred stock will reset and equal the then-current five-year Treasury rate plus 5.291%. Under the terms of the Series A preferred stock, the ability of the Corporation to pay dividends on, make distributions with respect to, or to repurchase, redeem or acquire its common stock or any other stock ranking on parity with or junior to the Series A preferred stock, is subject to restrictions in the event that the Corporation does not declare and either pay or set aside a sum sufficient for payment of dividends on the Series A preferred stock for the immediately preceding dividend period. The Series A preferred stock is perpetual and has no maturity date, but is redeemable by the Corporation at specified times subject to regulatory considerations.

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Table of ContentsNOTES TO CONSOLIDATED FINANCIAL STATEMENTSComerica Incorporated and Subsidiaries

NOTE 14 - ACCUMULATED OTHER COMPREHENSIVE LOSS 

The following table presents a reconciliation of the changes in the components of accumulated other comprehensive loss and details the components of other comprehensive (loss) income for the years ended December 31, 2024, 2023 and 2022, including the amount of income tax (benefit) expense allocated to each component of other comprehensive (loss) income.(in millions)Years Ended December 31202420232022Accumulated net unrealized losses on investment securities:Balance at beginning of period, net of tax$(2,043)$(2,319)$(99)Net unrealized holding (losses) gains arising during the period(182)361 (2,903)Less: (Benefit) provision for income taxes(43)85 (683)Net unrealized holding (losses) gains arising during the period, net of tax(139)276 (2,220)Less:Net realized losses included in net securities losses19 — — Less: Benefit for income taxes4 — — Reclassification adjustment for net securities losses included in net income, net of tax15 — — Change in net unrealized