Quarterly report [Sections 13 or 15(d)]

Accumulated Other Comprehensive Income (Loss)

v3.25.2
Accumulated Other Comprehensive Income (Loss)
 6 Months Ended
Jun. 30, 2025
Equity [Abstract]  
Accumulated Other Comprehensive Income (Loss) Accumulated Other Comprehensive Income (Loss)
The table below presents the changes in accumulated OCI after-tax for the six months ended June 30, 2025 and 2024.
(Dollars in millions) Debt Securities Debit Valuation Adjustments Derivatives
Employee
Benefit Plans
Foreign
Currency
 Total
Balance, December 31, 2023 $ (2,410) $ (1,567) $ (8,016) $ (4,748) $ (1,047) $ (17,788)
Net change 27  (135) 270  48  (51) 159 
Balance, June 30, 2024 $ (2,383) $ (1,702) $ (7,746) $ (4,700) $ (1,098) $ (17,629)
Balance, December 31, 2024 $ (2,252) $ (1,694) $ (5,588) $ (4,617) $ (1,134) $ (15,285)
Net change 51  144  2,509  53  24  2,781 
Balance, June 30, 2025 $ (2,201) $ (1,550) $ (3,079) $ (4,564) $ (1,110) $ (12,504)
The table below presents the net change in fair value recorded in accumulated OCI, net realized gains and losses reclassified into earnings and other changes for each component of OCI pre- and after-tax for the six months ended June 30, 2025 and 2024.
Pretax Tax
effect		 After-
tax		 Pretax Tax
effect		 After-
tax
Six Months Ended June 30
(Dollars in millions) 2025 2024
Debt securities:
Net increase (decrease) in fair value $ 36  $ —  $ 36  $ 54  $ (17) $ 37 
Net realized (gains) losses reclassified into earnings (1)
20  (5) 15  (14) 4  (10)
Net change 56  (5) 51  40  (13) 27 
Debit valuation adjustments:
Net increase (decrease) in fair value 190  (47) 143  (188) 47  (141)
Net realized (gains) losses reclassified into earnings (1)
1  —  1  9  (3) 6 
Net change 191  (47) 144  (179) 44  (135)
Derivatives:
Net increase (decrease) in fair value 2,581  (645) 1,936  (1,027) 259  (768)
Reclassifications into earnings:
Net interest income 777  (195) 582  1,342  (336) 1,006 
Market making and similar activities —  —  —  59  (14) 45 
Compensation and benefits expense (12) 3  (9) (17) 4  (13)
Net realized (gains) losses reclassified into earnings 765  (192) 573  1,384  (346) 1,038 
Net change 3,346  (837) 2,509  357  (87) 270 
Employee benefit plans:
Net actuarial losses and other reclassified into earnings (2)
69  (16) 53  61  (13) 48 
Net change 69  (16) 53  61  (13) 48 
Foreign currency:
Net increase (decrease) in fair value (670) 694  24  276  (327) (51)
Net change (670) 694  24  276  (327) (51)
Total other comprehensive income (loss) $ 2,992  $ (211) $ 2,781  $ 555  $ (396) $ 159 
(1)    Reclassifications of pretax debt securities, DVA and foreign currency (gains) losses are recorded in other income in the Consolidated Statement of Income.
(2)    Reclassifications of pretax employee benefit plan costs are recorded in other general operating expense in the Consolidated Statement of Income.