FIRST HORIZON CORP
For the period ended Mar 31, 2025. Filed May 7, 2025.
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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, 2025 · Filed May 7, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Changes in Equity (unaudited)
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
| Three Months Ended March 31, 2025 | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Preferred Stock · Common Stock | |||||||||
| (In millions, except share and per share data) (unaudited) | Shares | Amount | Shares | Amount | CapitalSurplus | Retained Earnings | AccumulatedOtherComprehensiveIncome (Loss) (a) | Noncontrolling Interest | Total |
| Balance, December 31, 2024 | 16,750 | $426 | 524,280,412 | $328 | $4,808 | $4,382 | $(1,128) | $295 | $9,111 |
| Net income | — | — | — | — | — | 218 | — | 4 | 222 |
| Other comprehensive income (loss) | — | — | — | — | — | — | 145 | — | 145 |
| Cash dividends declared: | |||||||||
| Preferred stock | — | — | — | — | — | (5) | — | — | (5) |
| Common stock ($0.15 per share) | — | — | — | — | — | (78) | — | — | (78) |
| Common stock repurchased (b) | — | — | (17,657,334) | (11) | (354) | — | — | — | (365) |
| Excise tax on common stock repurchased | — | — | — | — | (3) | — | — | — | (3) |
| Common stock issued for: | |||||||||
| Stock options exercised and restricted stock awards | — | — | 692,106 | — | 3 | — | — | — | 3 |
| Stock-based compensation expense | — | — | — | — | 18 | — | — | — | 18 |
| Dividends declared - noncontrolling interest of subsidiary preferred stock | — | — | — | — | — | — | — | (4) | (4) |
| Balance, March 31, 2025 | 16,750 | $426 | 507,315,184 | $317 | $4,472 | $4,517 | $(983) | $295 | $9,044 |
(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 $360 million repurchased under FHN's $1 billion general purchase program approved in October 2024 and scheduled to expire in January 2026.
| Three Months Ended March 31, 2024 | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Preferred Stock · Common Stock | |||||||||
| (In millions, except share and per share data) (unaudited) | Shares | Amount | Shares | Amount | CapitalSurplus | Retained Earnings | AccumulatedOtherComprehensiveIncome (Loss) (a) | Noncontrolling Interest | Total |
| Balance, December 31, 2023 | 26,750 | $520 | 558,838,694 | $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) | — | — | (11,051,980) | (7) | (152) | — | — | — | (159) |
| Excise tax on common stock repurchased | — | — | — | — | (2) | — | — | — | (2) |
| Common stock issued for: | |||||||||
| Stock options exercised and restricted stock awards | — | — | 850,272 | — | — | — | — | — | — |
| Stock-based compensation expense | — | — | — | 1 | 17 | — | — | — | 18 |
| Dividends declared - noncontrolling interest of subsidiary preferred stock | — | — | — | — | — | — | — | (5) | (5) |
| Balance, March 31, 2024 | 26,750 | $520 | 548,636,986 | $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 FHN's $650 million general purchase program approved in January 2024 and terminated in October 2024.
| 11 | 1Q25 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.