FIRST HORIZON CORP
For the period ended Mar 31, 2024. Filed May 3, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 3, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Changes in Equity (unaudited)
PART I, ITEM 1. FINANCIAL STATEMENTS
Table of Contents
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
| Three Months Ended March 31, 2024 | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Preferred Stock · Common Stock | |||||||||
| (Dollars in millions, except per share data; shares in thousands) (unaudited) | Shares | Amount | Shares | Amount | CapitalSurplus | Retained Earnings | AccumulatedOtherComprehensiveIncome (Loss) (a) | Noncontrolling Interest | Total |
| Balance, December 31, 2023 | 26,750 | $520 | 558,839 | $349 | $5,351 | $3,964 | $(1,188) | $295 | $9,291 |
| Adjustment to reflect adoption of ASU 2023-02 | — | — | — | — | — | 8 | — | — | 8 |
| Net income | — | — | — | — | — | 192 | — | 5 | 197 |
| Other comprehensive income (loss) | — | — | — | — | — | — | (83) | — | (83) |
| Cash dividends declared: | |||||||||
| Preferred stock | — | — | — | — | — | (8) | — | — | (8) |
| Common stock ($0.15 per share) | — | — | — | — | — | (84) | — | — | (84) |
| Common stock repurchased (b) | — | — | (11,052) | (7) | (152) | — | — | — | (159) |
| Excise tax on share repurchases | — | — | — | — | (2) | — | — | — | (2) |
| Common stock issued for: | |||||||||
| Stock options exercised and restricted stock awards | — | — | 850 | — | — | — | — | — | — |
| Stock-based compensation expense | — | — | — | 1 | 17 | — | — | — | 18 |
| Dividends declared - noncontrolling interest of subsidiary preferred stock | — | — | — | — | — | — | — | (5) | (5) |
| Balance, March 31, 2024 | 26,750 | $520 | 548,637 | $343 | $5,214 | $4,072 | $(1,271) | $295 | $9,173 |
(a)Due to the nature of the preferred stock issued by FHN and its subsidiaries, all components of other comprehensive income (loss) have been attributed solely to FHN as the controlling interest holder.
(b)Includes $154 million repurchased under our general purchase program.
| Three Months Ended March 31, 2023 | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Preferred Stock · Common Stock | |||||||||
| (Dollars in millions, except per share data; shares in thousands) (unaudited) | Shares | Amount | Shares | Amount | CapitalSurplus | Retained Earnings | AccumulatedOtherComprehensiveIncome (Loss) (a) | Noncontrolling Interest | Total |
| Balance, December 31, 2022 | 31,686 | $1,014 | 537,101 | $336 | $4,840 | $3,430 | $(1,368) | $295 | $8,547 |
| Adjustment to reflect adoption of ASU 2022-02 | — | — | — | — | — | 4 | — | — | 4 |
| Net income | — | — | — | — | — | 251 | — | 4 | 255 |
| Other comprehensive income | — | — | — | — | — | — | 160 | — | 160 |
| Cash dividends declared: | |||||||||
| Preferred stock | — | — | — | — | — | (8) | — | — | (8) |
| Common stock ($0.15 per share) | — | — | — | — | — | (82) | — | — | (82) |
| Common stock repurchased | — | — | (159) | — | (4) | — | — | — | (4) |
| Common stock issued for: | |||||||||
| Stock options exercised and restricted stock awards | — | — | 677 | — | 5 | — | — | — | 5 |
| Stock-based compensation expense | — | — | — | — | 22 | — | — | — | 22 |
| Dividends declared - noncontrolling interest of subsidiary preferred stock | — | — | — | — | — | — | — | (4) | (4) |
| Balance, March 31, 2023 | 31,686 | $1,014 | 537,619 | $336 | $4,863 | $3,595 | $(1,208) | $295 | $8,895 |
(a)Due to the nature of the preferred stock issued by FHN and its subsidiaries, all components of other comprehensive income (loss) have been attributed solely to FHN as the controlling interest holder.
| 10 | 1Q24 FORM 10-Q REPORT |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.