Company: CMA
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0000028412-25-000154
Chunk: 177

Company: COMERICA INC
Filing Date: 2025-04-30
Form: 10-Q
Item: Part I, Item 8
Chunk 177
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 cost (credit) is comprised of service cost and other components of net benefit cost (credit). Service cost is included in salaries and benefits expense and other components of net benefit cost (credit) are included in other noninterest expenses on the Consolidated Statements of Comprehensive Income. For further information on the Corporation's employee benefit plans, refer to Note 17 to the consolidated financial statements in the Corporation's 2024 Annual Report.The components of net periodic benefit cost (credit) for the Corporation's qualified pension plan, non-qualified pension plan and postretirement benefit plan are as follows.Qualified Defined Benefit Pension PlanThree Months Ended March 31,(in millions)20252024Service cost$9 $8 Other components of net benefit credit:Interest cost21 21 Expected return on plan assets(44)(45)Amortization of prior service credit(4)(3)Amortization of net loss 6 6 Total other components of net benefit credit(21)(21)Net periodic defined benefit credit$(12)$(13)Non-Qualified Defined Benefit Pension PlanThree Months Ended March 31,(in millions)20252024Service cost$1 $1 Other components of net benefit cost:Interest cost2 2 Amortization of prior service credit(1)(2)Amortization of net loss1 1 Total other components of net benefit cost2 1 Net periodic defined benefit cost$3 $2 Postretirement Benefit PlanThree Months Ended March 31,(in millions)20252024Other components of net benefit credit:Expected return on plan assets$(1)$(1)Net periodic defined benefit credit$(1)$(1)

NOTE 12 - INCOME TAXES AND TAX-RELATED ITEMS

Unrecognized tax benefits were $8 million at both March 31, 2025 and December 31, 2024. The Corporation anticipates a change 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 March 31, 2025 and December 31, 2024. Net deferred tax assets were $882 million at March 31, 2025, compared to $1.0 billion at December 31, 2024. The decrease of approximately $152 million in net deferred tax assets resulted primarily from decreases to deferred tax assets related to hedging gains and losses