Company: TFC
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0000092230-25-000020
Chunk: 454

Company: TRUIST FINANCIAL CORP
Filing Date: 2025-02-25
Form: 10-K
Item: Item 7A
Chunk 454
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million for the years ended December 31, 2023 and 2022, respectively, with an off-setting decrease in OT&C noninterest expense.Provision for credit losses represents net charge-offs by segment combined with an allocation to the segments for the provision attributable to each segment’s quarterly change in the ALLL. Provision for income taxes is calculated using a blended income tax rate for each segment and includes reversals of the noninterest income tax adjustments described above. The difference between the calculated provision for income taxes at the segment level and the consolidated provision for income taxes is reported in OT&C.The application and development of management reporting methodologies is an active process and undergoes periodic enhancements. The implementation of these enhancements to the internal management reporting methodology may materially affect the results disclosed for each segment, with no impact on consolidated results. When significant changes to management reporting methodologies take place, the impact of these changes is quantified and prior period information is revised as practicable.

Truist Financial Corporation   159

The following table presents results by segment:Year Ended December 31,(Dollars in millions)CSBBWBOT&C(1)Total202420232022202420232022202420232022202420232022Net interest income (expense)$5,288 $5,948 $6,676 $8,499 $9,166 $5,988 $304 $(590)$1,649 $14,091 $14,524 $14,313 Net intersegment interest income (expense)5,220 4,666 3,072 (1,877)(2,190)608 (3,343)(2,476)(3,680)— — — Segment net interest income10,508 10,614 9,748 6,622 6,976 6,596 (3,039)(3,066)(2,031)14,091 14,524 14,313 Allocated provision for credit losses1,308 1,116 864 562 999 (90)— (6)3 1,870 2,109 777 Noninterest income2,041 2,011 2,108 4,053 3,602 3,922 (6,907)(115)(370)(813)5,498 5,660 Personnel expense1,627 1,746 1,851 2,288 2