Company: FCNCB
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000798941-25-000010
Chunk: 202

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 202
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 value hedges:Carrying Value of Hedged Itemsdollars in millionsCumulative Fair Value Hedging Adjustment Included in the Carrying Value of Hedged ItemsCarrying Value of Hedged ItemsCurrently DesignatedNo Longer DesignatedDecember 31, 2024Long-term borrowings$795 $2 $— Deposits335 1 — December 31, 2023Long-term borrowings879 5 — Cash Flow Hedges The following table presents the pretax unrealized gain on hedging instruments in cash flow hedges, which are reported in other comprehensive income, and the pretax amount reclassified from AOCI to earnings:Unrealized Gain on Cash Flow Hedges dollars in millionsYear Ended December 31,202420232022Other comprehensive income on cash flow hedge derivatives before reclassifications$11 $— $— Amounts reclassified from AOCI to earnings— — — Other comprehensive income on cash flow hedge derivatives$11 $— $— The following table presents other information for cash flow hedges:Other Information for Cash Flow Hedgesdollars in millionsDecember 31, 2024December 31, 2023Unrealized gain on cash flow hedge derivatives reported in AOCI, net of income taxes$8 $— Estimate to be reclassified from AOCI to earnings during the next 12 months, net of income taxes (1)$7 $— Maximum number of months over which forecasted cash flows are hedged24— (1) Reclassified amounts could differ from amounts actually recognized due to items such as changes in interest rates, hedge de-designations and the addition of other hedges.Non-Qualifying HedgesThe following table presents gains on non-qualifying hedges recognized on the Consolidated Statements of Income:Gains (Losses) on Non-Qualifying Hedgesdollars in millionsYear Ended December 31,Amounts Recognized202420232022Interest rate contractsOther noninterest income$22 $32 $12 Foreign currency forward contractsOther noninterest income59 (8)20 Other contractsOther noninterest income2 1 1 Total non-qualifying hedges - income statement impact$83 $25 $33 

Refer to Note 15—Fair Value for further information on derivatives. 

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NOTE 14 — OTHER LIABILITIESThe following table includes the components of other