Quarterly report pursuant to Section 13 or 15(d)

Accumulated Other Comprehensive Income (Loss) (Tables)

v3.19.3
Accumulated Other Comprehensive Income (Loss) (Tables)
9 Months Ended
Sep. 30, 2019
Equity [Abstract]  
Schedule of Accumulated OCI
The table below presents the changes in accumulated OCI after-tax for the nine months ended September 30, 2019 and 2018.
 
 
 
 
 
 
 
 
 
 
 
 
(Dollars in millions)
Debt Securities
 
Debit Valuation Adjustments
 
Derivatives
 
Employee
Benefit Plans
 
Foreign
Currency
 
Total
Balance, December 31, 2017
$
(1,206
)
 
$
(1,060
)
 
$
(831
)
 
$
(3,192
)
 
$
(793
)
 
$
(7,082
)
Accounting change related to certain tax effects (1)
(393
)
 
(220
)
 
(189
)
 
(707
)
 
239

 
(1,270
)
Cumulative adjustment for hedge accounting change (2)

 

 
57

 

 

 
57

Net change
(6,166
)
 
183

 
(346
)
 
91

 
(303
)
 
(6,541
)
Balance, September 30, 2018
$
(7,765
)
 
$
(1,097
)
 
$
(1,309
)
 
$
(3,808
)
 
$
(857
)
 
$
(14,836
)
 
 
 
 
 
 
 
 
 
 
 
 
Balance, December 31, 2018
$
(5,552
)
 
$
(531
)
 
$
(1,016
)
 
$
(4,304
)
 
$
(808
)
 
$
(12,211
)
Net change
6,231

 
(272
)
 
651

 
83

 
(99
)
 
6,594

Balance, September 30, 2019
$
679

 
$
(803
)
 
$
(365
)
 
$
(4,221
)
 
$
(907
)
 
$
(5,617
)

(1) 
Effective January 1, 2018, the Corporation adopted the accounting standard on tax effects in accumulated OCI related to the Tax Act. Accordingly, certain tax effects were reclassified from accumulated OCI to retained earnings.
(2) 
Effective January 1, 2018, the Corporation adopted the hedge accounting standard.
Schedule of Amounts Recognized in Other Comprehensive Income (Loss)
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 nine months ended September 30, 2019 and 2018.
 
 
 
 
 
 
 
 
 
 
 
 
 
Pretax
 
Tax
effect
 
After-
tax
 
Pretax
 
Tax
effect
 
After-
tax
 
Nine Months Ended September 30
(Dollars in millions)
2019
 
2018
Debt securities:
 
 
 
 
 
 
 
 
 
 
 
Net increase (decrease) in fair value
$
8,388

 
$
(2,087
)
 
$
6,301

 
$
(8,198
)
 
$
2,075

 
$
(6,123
)
Net realized (gains) losses reclassified into earnings (1)
(93
)
 
23

 
(70
)
 
(55
)
 
12

 
(43
)
Net change
8,295

 
(2,064
)
 
6,231

 
(8,253
)
 
2,087

 
(6,166
)
Debit valuation adjustments:
 
 
 
 
 
 
 
 
 
 
 
Net increase (decrease) in fair value
(368
)
 
83

 
(285
)
 
220

 
(52
)
 
168

Net realized (gains) losses reclassified into earnings (1)
16

 
(3
)
 
13

 
20

 
(5
)
 
15

Net change
(352
)
 
80

 
(272
)
 
240

 
(57
)
 
183

Derivatives:
 
 
 
 
 
 
 
 
 
 
 
Net increase (decrease) in fair value
765

 
(173
)
 
592

 
(601
)
 
174

 
(427
)
Reclassifications into earnings:
 
 
 
 
 
 
 
 
 
 
 
Net interest income
78

 
(19
)
 
59

 
134

 
(33
)
 
101

Compensation and benefits expense

 

 

 
(27
)
 
7

 
(20
)
Net realized (gains) losses reclassified into earnings
78

 
(19
)
 
59

 
107

 
(26
)
 
81

Net change
843

 
(192
)
 
651

 
(494
)
 
148

 
(346
)
Employee benefit plans:
 
 
 
 
 
 
 
 
 
 
 
Net actuarial losses and other reclassified into earnings (2)
109

 
(26
)
 
83

 
119

 
(28
)
 
91

Net change
109

 
(26
)
 
83

 
119

 
(28
)
 
91

Foreign currency:
 
 
 
 
 
 
 
 
 
 
 
Net increase (decrease) in fair value
114

 
(185
)
 
(71
)
 
(87
)
 
(165
)
 
(252
)
Net realized (gains) losses reclassified into earnings (3)
(117
)
 
89

 
(28
)
 
(143
)
 
92

 
(51
)
Net change
(3
)
 
(96
)
 
(99
)
 
(230
)
 
(73
)
 
(303
)
Total other comprehensive income (loss)
$
8,892

 
$
(2,298
)
 
$
6,594

 
$
(8,618
)
 
$
2,077

 
$
(6,541
)
(1) 
Reclassifications of pretax debt securities and DVA 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.
(3) 
Reclassifications of pretax debt securities, DVA and foreign currency (gains) losses are recorded in other income in the Consolidated Statement of Income.