| Accumulated OCI |
The table below presents the changes in accumulated OCI in 2009, 2010 and 2011, net-of-tax.
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(Dollars in millions) |
Available-for-
Sale Debt
Securities
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Available-for-
Sale Marketable
Equity Securities
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Derivatives |
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Employee
Benefit Plans (1)
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Foreign
Currency (2)
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Total |
Balance, December 31, 2008 |
$ |
(5,956 |
) |
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$ |
3,935 |
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$ |
(3,458 |
) |
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$ |
(4,642 |
) |
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$ |
(704 |
) |
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$ |
(10,825 |
) |
Cumulative adjustment for accounting change – OTTI (3)
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(71 |
) |
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— |
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— |
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— |
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— |
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(71 |
) |
Net change in fair value recorded in accumulated OCI |
6,364 |
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|
2,651 |
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|
153 |
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|
318 |
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211 |
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|
9,697 |
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Net realized (gains) losses reclassified into earnings |
(965 |
) |
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(4,457 |
) |
|
770 |
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|
232 |
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— |
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(4,420 |
) |
Balance, December 31, 2009 |
$ |
(628 |
) |
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$ |
2,129 |
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$ |
(2,535 |
) |
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$ |
(4,092 |
) |
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$ |
(493 |
) |
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$ |
(5,619 |
) |
Cumulative adjustments for accounting changes: (3)
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Consolidation of certain variable interest entities |
(116 |
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— |
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— |
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— |
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— |
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(116 |
) |
Credit-related notes |
229 |
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— |
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— |
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— |
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— |
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229 |
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Net change in fair value recorded in accumulated OCI |
2,210 |
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|
5,657 |
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(1,108 |
) |
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(104 |
) |
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(44 |
) |
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6,611 |
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Net realized (gains) losses reclassified into earnings |
(981 |
) |
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(1,127 |
) |
|
407 |
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|
249 |
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|
281 |
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(1,171 |
) |
Balance, December 31, 2010 |
$ |
714 |
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$ |
6,659 |
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$ |
(3,236 |
) |
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$ |
(3,947 |
) |
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$ |
(256 |
) |
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$ |
(66 |
) |
Net change in fair value recorded in accumulated OCI |
4,331 |
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(2,539 |
) |
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(1,567 |
) |
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(714 |
) |
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(34 |
) |
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(523 |
) |
Net realized (gains) losses reclassified into earnings |
(1,945 |
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(4,117 |
) |
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1,018 |
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270 |
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(74 |
) |
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(4,848 |
) |
Balance, December 31, 2011 |
$ |
3,100 |
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$ |
3 |
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$ |
(3,785 |
) |
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$ |
(4,391 |
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$ |
(364 |
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$ |
(5,437 |
) |
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(1) |
Net change in fair value represents after-tax adjustments based on the final year-end actuarial valuations. For more information on employee benefit plans, see Note 19 – Employee Benefit Plans.
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(2) |
Net change in fair value represents only the impact of changes in spot foreign exchange rates on the Corporation’s net investment in non-U.S. operations and related hedges. |
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(3) |
For additional information on the adoption of new accounting guidance, see Note 1 – Summary of Significant Accounting Principles and Note 5 – Securities.
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Pre-tax amounts included in accumulated OCI for employee benefit plans at December 31, 2011 and 2010 are presented in the table below.
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Pre-tax Amounts included in Accumulated OCI |
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Qualified
Pension Plans
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Non-U.S.
Pension Plans
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Nonqualified
and Other
Pension Plans
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Postretirement
Health and
Life Plans
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Total |
(Dollars in millions) |
2011 |
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2010 |
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2011 |
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2010 |
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2011 |
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2010 |
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2011 |
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2010 |
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2011 |
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2010 |
Net actuarial (gain) loss |
$ |
6,743 |
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$ |
5,461 |
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$ |
(212 |
) |
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$ |
(20 |
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$ |
409 |
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$ |
656 |
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$ |
(59 |
) |
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$ |
(27 |
) |
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$ |
6,881 |
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$ |
6,070 |
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Transition obligation |
— |
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— |
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— |
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— |
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— |
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— |
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32 |
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|
63 |
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32 |
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|
63 |
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Prior service cost (credits) |
67 |
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|
98 |
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3 |
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1 |
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(7 |
) |
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(15 |
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33 |
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|
58 |
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|
96 |
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|
142 |
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Amounts recognized in accumulated OCI |
$ |
6,810 |
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$ |
5,559 |
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$ |
(209 |
) |
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$ |
(19 |
) |
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$ |
402 |
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$ |
641 |
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$ |
6 |
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$ |
94 |
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$ |
7,009 |
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$ |
6,275 |
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