Company: CMA
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0000028412-25-000197
Chunk: 185

Company: COMERICA INC
Filing Date: 2025-07-30
Form: 10-Q
Item: Part I, Item 8
Chunk 185
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 of Series A Preferred Stock. Holders of the depositary shares were entitled to all proportional rights and preferences of the Series A Preferred Stock (including dividend, voting, redemption and liquidation rights). The $400 million issuance yielded $394 million in proceeds, net of underwriting discounts and offering expenses. 

On June 10, 2025, the Corporation delivered a notice of redemption notifying the holders of the Series A Preferred Stock and corresponding depositary shares that the Corporation would be redeeming all 4,000 outstanding shares of Series A Preferred Stock and the corresponding depositary shares at a redemption price of $1,000 per depositary share (equivalent to $100,000 per share of Series A Preferred Stock), effective July 1, 2025. Accordingly, $400 million was reclassified from shareholders' equity to other liabilities in the Consolidated Balance Sheets as of the date of the notice of redemption. The last quarterly dividends on the Series A Preferred Stock were paid on July 1, 2025, to holders of record at the close of business on June 13, 2025. 

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Table of ContentsNotes to Consolidated Financial Statements (unaudited)Comerica Incorporated and Subsidiaries

NOTE 10 - 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 income (loss) for the six months ended June 30, 2025 and 2024, including the amount of income tax expense (benefit) allocated to each component of other comprehensive income (loss).Six Months Ended June 30,(in millions)20252024Accumulated net unrealized losses on investment securities:Balance at beginning of period, net of tax$(2,197)$(2,043)Net unrealized holding gains (losses) arising during the period437 (282)Less: Provision (benefit) for income taxes107 (73)Change in net unrealized losses on investment securities, net of tax330 (209)Balance at end of period, net of tax$(1,867)$(2,252)Accumulated net losses on cash flow hedges:Balance at beginning of period, net of tax$(596)$(605)Net cash flow hedge gains (losses) arising during the period273 (620)Less: Provision (benefit) for income taxes66 (150)Change in net cash flow hedge