Quarterly report pursuant to Section 13 or 15(d)

Accumulated Other Comprehensive Income (Loss) (Tables)

v3.4.0.3
Accumulated Other Comprehensive Income (Loss) (Tables)
3 Months Ended
Mar. 31, 2016
Equity [Abstract]  
Schedule of Accumulated OCI
The table below presents the changes in accumulated OCI after-tax for the three months ended March 31, 2016 and 2015.

(Dollars in millions)
Debt Securities
 
Available-for-sale
Marketable
Equity Securities
 
Debit Valuation Adjustments (1)
 
Derivatives
 
Employee
Benefit Plans
 
Foreign
Currency (2)
 
Total
Balance, December 31, 2014
$
1,343

 
$
17

 
n/a

 
$
(1,661
)
 
$
(3,350
)
 
$
(669
)
 
$
(4,320
)
Cumulative adjustment for accounting change

 

 
$
(1,226
)
 

 

 

 
(1,226
)
Net change
1,317

 
19

 
260

 
43

 
25

 
(51
)
 
1,613

Balance, March 31, 2015
$
2,660

 
$
36

 
$
(966
)
 
$
(1,618
)
 
$
(3,325
)
 
$
(720
)
 
$
(3,933
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance, December 31, 2015
$
(300
)
 
$
62

 
$
(611
)
 
$
(1,077
)
 
$
(2,956
)
 
$
(792
)
 
$
(5,674
)
Net change
2,924

 
(33
)
 
127

 
24

 
10

 
12

 
3,064

Balance, March 31, 2016
$
2,624

 
$
29

 
$
(484
)
 
$
(1,053
)
 
$
(2,946
)
 
$
(780
)
 
$
(2,610
)
(1) 
For information on the impact of early adoption of new accounting guidance on recognition and measurement of financial instruments, see Note 1 – Summary of Significant Accounting Principles.
(2) 
The net change in fair value represents the impact of changes in spot foreign exchange rates on the Corporation's net investment in non-U.S. operations and related hedges.
n/a = not applicable
Schedule of Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block]
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 before- and after-tax for the three months ended March 31, 2016 and 2015.

Changes in OCI Components Before- and After-tax
 
Three Months Ended March 31
 
2016
 
2015
(Dollars in millions)
Before-tax
 
Tax effect
 
After-tax
 
Before-tax
 
Tax effect
 
After-tax
Debt securities:
 
 
 
 
 
 
 
 
 
 
 
Net change in unrealized gains (losses)
$
4,936

 
$
(1,876
)
 
$
3,060

 
$
2,320

 
$
(880
)
 
$
1,440

Net realized gains reclassified into earnings
(219
)
 
83

 
(136
)
 
(198
)
 
75

 
(123
)
Net change
4,717

 
(1,793
)
 
2,924

 
2,122

 
(805
)
 
1,317

Available-for-sale marketable equity securities:
 
 
 
 
 
 
 
 
 
 
 
Net increase (decrease) in fair value
(54
)
 
21

 
(33
)
 
32

 
(13
)
 
19

Net change
(54
)
 
21

 
(33
)
 
32

 
(13
)
 
19

Debit valuation adjustments:
 
 
 
 
 
 
 
 
 
 
 
Net increase in fair value
195

 
(72
)
 
123

 
84

 
(32
)
 
52

Net realized losses reclassified into earnings
7

 
(3
)
 
4

 
335

 
(127
)
 
208

Net change
202

 
(75
)
 
127

 
419

 
(159
)
 
260

Derivatives:
 
 
 
 
 
 
 
 
 
 
 
Net decrease in fair value
(159
)
 
59

 
(100
)
 
(186
)
 
69

 
(117
)
Net realized losses reclassified into earnings
198

 
(74
)
 
124

 
256

 
(96
)
 
160

Net change
39

 
(15
)
 
24

 
70

 
(27
)
 
43

Employee benefit plans:
 
 
 
 
 
 
 
 
 
 
 
Net decrease in fair value

 

 

 
(2
)
 
1

 
(1
)
Net realized losses reclassified into earnings
25

 
(10
)
 
15

 
42

 
(16
)
 
26

Settlements, curtailments and other

 
(5
)
 
(5
)
 

 

 

Net change
25

 
(15
)
 
10

 
40

 
(15
)
 
25

Foreign currency:
 
 
 
 
 
 
 
 
 
 
 
Net increase (decrease) in fair value
(134
)
 
146

 
12

 
462

 
(513
)
 
(51
)
Net change
(134
)
 
146

 
12

 
462

 
(513
)
 
(51
)
Total other comprehensive income
$
4,795

 
$
(1,731
)
 
$
3,064

 
$
3,145

 
$
(1,532
)
 
$
1,613

Reclassification out of Accumulated Other Comprehensive Income
The table below presents impacts on net income of significant amounts reclassified out of each component of accumulated OCI before- and after-tax for the three months ended March 31, 2016 and 2015. There were no amounts reclassified out of AFS marketable equity securities and foreign currency for the three months ended March 31, 2016 and 2015.

Reclassifications Out of Accumulated OCI
(Dollars in millions)
 
Three Months Ended March 31
Accumulated OCI Components
Income Statement Line Item Impacted
2016

2015
Debt securities:
 
 
 
 
 
Gains on sales of debt securities
$
226

 
$
268

 
Other loss
(7
)
 
(70
)
 
Income before income taxes
219

 
198

 
Income tax expense
83

 
75

 
Reclassification to net income
136

 
123

Debit valuation adjustments:
 
 
 
 
 
Other loss
(7
)
 
(335
)
 
Loss before income taxes
(7
)
 
(335
)
 
Income tax benefit
(3
)
 
(127
)
 
Reclassification to net income
(4
)
 
(208
)
Derivatives:
 
 
 
 
Interest rate contracts
Net interest income
(164
)
 
(255
)
Equity compensation contracts
Personnel
(34
)
 
(1
)
 
Loss before income taxes
(198
)
 
(256
)
 
Income tax benefit
(74
)
 
(96
)
 
Reclassification to net income
(124
)
 
(160
)
Employee benefit plans:
 
 
 
 
Net actuarial losses and prior service costs
Personnel
(25
)
 
(42
)
 
Loss before income taxes
(25
)
 
(42
)
 
Income tax benefit
(10
)
 
(16
)
 
Reclassification to net income
(15
)
 
(26
)
Total reclassification adjustments
 
$
(7
)
 
$
(271
)