Quarterly report pursuant to Section 13 or 15(d)

Accumulated Other Comprehensive Income (Loss)

v3.22.2.2
Accumulated Other Comprehensive Income (Loss)
 9 Months Ended
Sep. 30, 2022
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 nine months ended September 30, 2022 and 2021.
(Dollars in millions) Debt Securities Debit Valuation Adjustments Derivatives
Employee
Benefit Plans
Foreign
Currency
 Total
Balance, December 31, 2020 $ 5,122  $ (1,992) $ 426  $ (4,266) $ (946) $ (1,656)
Net change (1,243) 292  (1,130) 170  (29) (1,940)
Balance, September 30, 2021 $ 3,879  $ (1,700) $ (704) $ (4,096) $ (975) $ (3,596)
Balance, December 31, 2021 $ 3,045  $ (1,636) $ (1,880) $ (3,642) $ (991) $ (5,104)
Net change (6,381) 1,298  (10,890) 97  (47) (15,923)
Balance, September 30, 2022 $ (3,336) $ (338) $ (12,770) $ (3,545) $ (1,038) $ (21,027)
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, 2022 and 2021.
Pretax Tax
effect		 After-
tax		 Pretax Tax
effect		 After-
tax
Nine Months Ended September 30
(Dollars in millions) 2022 2021
Debt securities:
Net increase (decrease) in fair value $ (8,417) $ 2,064  $ (6,353) $ (1,650) $ 410  $ (1,240)
Net realized (gains) losses reclassified into earnings (1)
(37) 9  (28) (4) 1  (3)
Net change (8,454) 2,073  (6,381) (1,654) 411  (1,243)
Debit valuation adjustments:
Net increase (decrease) in fair value 1,698  (411) 1,287  365  (82) 283 
Net realized (gains) losses reclassified into earnings (1)
14  (3) 11  12  (3) 9 
Net change 1,712  (414) 1,298  377  (85) 292 
Derivatives:
Net increase (decrease) in fair value (14,681) 3,673  (11,008) (1,339) 334  (1,005)
Reclassifications into earnings:
Net interest income 182  (46) 136  (125) 30  (95)
Compensation and benefits expense (24) 6  (18) (40) 10  (30)
Net realized (gains) losses reclassified into earnings 158  (40) 118  (165) 40  (125)
Net change (14,523) 3,633  (10,890) (1,504) 374  (1,130)
Employee benefit plans:
Net actuarial losses and other reclassified into earnings (2)
135  (38) 97  209  (39) 170 
Net change 135  (38) 97  209  (39) 170 
Foreign currency:
Net increase (decrease) in fair value 726  (774) (48) 240  (269) (29)
Net realized (gains) losses reclassified into earnings (1)
—  1  1  —  —  — 
Net change 726  (773) (47) 240  (269) (29)
Total other comprehensive income (loss) $ (20,404) $ 4,481  $ (15,923) $ (2,332) $ 392  $ (1,940)
(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.