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Component: (Network and Table)
Network
2315301 - Disclosure - Benefit Plans (Tables)
(http://www.bbt.com/role/BenefitPlansTables)
Table(Implied)
Slicers (applies to each fact value in each table cell)
Compensation and Retirement Disclosure [Abstract]Period [Axis]
2016-01-01 - 2016-12-31
Compensation and Retirement Disclosure [Abstract]
 
Significant Actuarial Assumptions Used to Determine Net Periodic Pension Costs
The following actuarial assumptions were used to determine net periodic pension costs for the qualified pension plans:
 
 
December 31,
 
 
2016
 
2015
 
2014
Weighted average assumed discount rate
 
4.68
%
 
4.27
%
 
5.10
%
Weighted average expected long-term rate of return on plan assets
 
7.00

 
7.50

 
7.75

Assumed long-term rate of annual compensation increases
 
4.50

 
4.50

 
5.00

 
 
Summary of the Components of Net Periodic Benefit Cost Recognized for Pension Plans
Financial data relative to qualified and nonqualified defined benefit pension plans is summarized in the following tables for the years indicated. On the Consolidated Balance Sheets, the qualified pension plan prepaid asset is recorded as a component of other assets and the nonqualified pension plans accrued liability is recorded as a component of other liabilities. The data is calculated using an actuarial measurement date of December 31.
 
 
Year Ended December 31,
 
 
2016
 
2015
 
2014
 
 
(Dollars in millions)
Net Periodic Pension Cost:
 
 
 
 
 
 
Service cost
 
$
186

 
$
176

 
$
138

Interest cost
 
181

 
157

 
140

Estimated return on plan assets
 
(326
)
 
(327
)
 
(296
)
Net amortization and other
 
80

 
67

 
17

Net periodic benefit cost
 
121

 
73

 
(1
)
 
 
 
 
 
 
 
Pre-Tax Amounts Recognized in OCI:
 
 

 
 

 
 

Net actuarial loss (gain)
 
138

 
230

 
532

Net amortization
 
(80
)
 
(67
)
 
(17
)
Net amount recognized in OCI
 
58

 
163

 
515

Total net periodic pension costs (income) recognized in total comprehensive income, pre-tax
 
$
179

 
$
236

 
$
514

 
 
Significant Actuarial Assumptions Used to Determine Benefit Obligations
The following actuarial assumptions were used to determine benefit obligations:
 
 
December 31,
 
 
2016
 
2015
Weighted average assumed discount rate
 
4.43
%
 
4.68
%
Assumed rate of annual compensation increases
 
4.50

 
4.50

 
 
Changes in Projected Benefit Obligation
 
 
Qualified Plans
 
Nonqualified Plans
 
 
Year Ended December 31,
 
Year Ended December 31,
 
 
2016
 
2015
 
2016
 
2015
 
 
(Dollars in millions)
Projected benefit obligation, beginning of year
 
$
3,473

 
$
3,227

 
$
392

 
$
367

Service cost
 
174

 
164

 
12

 
12

Interest cost
 
163

 
141

 
18

 
16

Actuarial (gain) loss
 
152

 
(164
)
 
15

 
(3
)
Benefits paid
 
(94
)
 
(80
)
 
(11
)
 
(15
)
Acquisitions
 
71

 
185

 

 
15

Projected benefit obligation, end of year
 
$
3,939

 
$
3,473

 
$
426

 
$
392

Accumulated benefit obligation, end of year
 
$
3,403

 
$
2,997

 
$
363

 
$
309

 
 
Changes in Fair Value of Plan Assets
 
 
Qualified Plans
 
Nonqualified Plans
 
 
Year Ended December 31,
 
Year Ended December 31,
 
 
2016
 
2015
 
2016
 
2015
 
 
(Dollars in millions)
Fair value of plan assets, beginning of year
 
$
4,369

 
$
4,223

 
$

 
$

Actual return on plan assets
 
356

 
(70
)
 

 

Employer contributions
 
360

 
126

 
11

 
15

Benefits paid
 
(94
)
 
(80
)
 
(11
)
 
(15
)
Acquisitions
 
53

 
170

 

 

Fair value of plan assets, end of year
 
$
5,044

 
$
4,369

 
$

 
$

Funded status at end of year
 
$
1,105

 
$
896

 
$
(426
)
 
$
(392
)
 
 
Pre-tax Amounts Recognized in AOCI
The following are the pre-tax amounts recognized in AOCI:
 
 
Qualified Plans
 
Nonqualified Plans
 
 
Year Ended December 31,
 
Year Ended December 31,
 
 
2016
 
2015
 
2016
 
2015
 
 
(Dollars in millions)
Prior service credit (cost)
 
$

 
$

 
$
(1
)
 
$
(2
)
Net actuarial loss
 
(1,095
)
 
(1,040
)
 
(135
)
 
(131
)
Net amount recognized
 
$
(1,095
)
 
$
(1,040
)
 
$
(136
)
 
$
(133
)
 
 
Schedule of Amounts Expected to be Amortized from AOCI Into Net Periodic Pension Cost During Next Fiscal Year
The following table presents the amount expected to be amortized from AOCI into net periodic pension cost during 2017:
 
 
Qualified Plans
 
Nonqualified Plans
 
 
(Dollars in millions)
Net actuarial loss
 
$
(66
)
 
$
(12
)
Net amount expected to be amortized in 2017
 
$
(66
)
 
$
(12
)
 
 
Schedule of Estimated Future Benefit Payments
The following table reflects the estimated benefit payments for the periods presented:
 
 
Qualified Plans
 
Nonqualified Plans
 
 
(Dollars in millions)
2017
 
$
104

 
$
15

2018
 
115

 
16

2019
 
125

 
17

2020
 
137

 
18

2021
 
149

 
20

2022-2026
 
949

 
119

 
 
Schedule of Fair Value of Pension Plan Assets by Three Level Fair Value Hierarchy
The fair values of certain pension plan assets by asset category are reflected in the following table.
 
 
December 31, 2016
 
December 31, 2015
 
 
Total
 
Level 1
 
Level 2
 
Total
 
Level 1
 
Level 2
 
 
(Dollars in millions)
Cash and cash-equivalents
 
$
179

 
$
179

 
$

 
$
266

 
$
266

 
$

U.S. equity securities
 
1,892

 
1,018

 
874

 
1,627

 
1,627

 

International equity securities
 
839

 
165

 
674

 
712

 
614

 
98

Fixed income securities
 
1,914

 
10

 
1,904

 
1,631

 
10

 
1,621

Total
 
$
4,824

 
$
1,372

 
$
3,452

 
$
4,236

 
$
2,517

 
$
1,719