Annual report pursuant to Section 13 and 15(d)

Accumulated Other Comprehensive Income (Loss) (Tables)

v3.3.1.900
Accumulated Other Comprehensive Income (Loss) (Tables)
 12 Months Ended
Dec. 31, 2015
Equity [Abstract]  
Schedule of Accumulated OCI
The table below presents the changes in accumulated OCI after-tax for 2013, 2014 and 2015.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(Dollars in millions)
Available-for-
Sale Debt
Securities
 
Available-for-
Sale Marketable
Equity Securities
 
Debit Valuation Adjustments (1)
 
Derivatives
 
Employee
Benefit Plans
 
Foreign
Currency (2)
 
Total
Balance, December 31, 2012
$
4,443

 
$
462

 
n/a

 
$
(2,869
)
 
$
(4,456
)
 
$
(377
)
 
$
(2,797
)
Net change
(7,700
)
 
(466
)
 
n/a

 
592

 
2,049

 
(135
)
 
(5,660
)
Balance, December 31, 2013
$
(3,257
)
 
$
(4
)
 
n/a

 
$
(2,277
)
 
$
(2,407
)
 
$
(512
)
 
$
(8,457
)
Net change
4,600

 
21

 
n/a

 
616

 
(943
)
 
(157
)
 
4,137

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
(1,643
)
 
45

 
615

 
584

 
394

 
(123
)
 
(128
)
Balance, December 31, 2015
$
(300
)
 
$
62

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

(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)
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 2015, 2014 and 2013.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Changes in OCI Components Before- and After-tax
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2015
 
2014
 
2013
(Dollars in millions)
Before-tax
 
Tax effect
 
After-tax
 
Before-tax
 
Tax effect
 
After-tax
 
Before-tax
 
Tax effect
 
After-tax
Available-for-sale debt securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net increase (decrease) in fair value
$
(1,644
)
 
$
627

 
$
(1,017
)
 
$
8,698

 
$
(3,268
)
 
$
5,430

 
$
(10,989
)
 
$
4,077

 
$
(6,912
)
Net realized gains reclassified into earnings
(1,010
)
 
384

 
(626
)
 
(1,338
)
 
508

 
(830
)
 
(1,251
)
 
463

 
(788
)
Net change
(2,654
)
 
1,011

 
(1,643
)
 
7,360

 
(2,760
)
 
4,600

 
(12,240
)
 
4,540

 
(7,700
)
Available-for-sale marketable equity securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net increase in fair value
72

 
(27
)
 
45

 
34

 
(13
)
 
21

 
32

 
(12
)
 
20

Net realized gains reclassified into earnings
—

 
—

 
—

 
—

 
—

 
—

 
(771
)
 
285

 
(486
)
Net change
72

 
(27
)
 
45

 
34

 
(13
)
 
21

 
(739
)
 
273

 
(466
)
Debit valuation adjustments:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net increase in fair value
436

 
(166
)
 
270

 
n/a

 
n/a

 
n/a

 
n/a

 
n/a

 
n/a

Net realized losses reclassified into earnings
556

 
(211
)
 
345

 
n/a

 
n/a

 
n/a

 
n/a

 
n/a

 
n/a

Net change
992

 
(377
)
 
615

 
n/a

 
n/a

 
n/a

 
n/a

 
n/a

 
n/a

Derivatives:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net increase in fair value
55

 
(22
)
 
33

 
195

 
(54
)
 
141

 
156

 
(51
)
 
105

Net realized losses reclassified into earnings
883

 
(332
)
 
551

 
760

 
(285
)
 
475

 
773

 
(286
)
 
487

Net change
938

 
(354
)
 
584

 
955

 
(339
)
 
616

 
929

 
(337
)
 
592

Employee benefit plans:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net increase (decrease) in fair value
408

 
(121
)
 
287

 
(1,629
)
 
614

 
(1,015
)
 
2,985

 
(1,128
)
 
1,857

Net realized losses reclassified into earnings
169

 
(62
)
 
107

 
55

 
(23
)
 
32

 
237

 
(79
)
 
158

Settlements, curtailments and other
1

 
(1
)
 
—

 
(1
)
 
41

 
40

 
46

 
(12
)
 
34

Net change
578

 
(184
)
 
394

 
(1,575
)
 
632

 
(943
)
 
3,268

 
(1,219
)
 
2,049

Foreign currency:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net decrease in fair value
600

 
(723
)
 
(123
)
 
714

 
(879
)
 
(165
)
 
244

 
(384
)
 
(140
)
Net realized losses reclassified into earnings
(38
)
 
38

 
—

 
20

 
(12
)
 
8

 
138

 
(133
)
 
5

Net change
562

 
(685
)
 
(123
)
 
734

 
(891
)
 
(157
)
 
382

 
(517
)
 
(135
)
Total other comprehensive income (loss)
$
488

 
$
(616
)
 
$
(128
)
 
$
7,508

 
$
(3,371
)
 
$
4,137

 
$
(8,400
)
 
$
2,740

 
$
(5,660
)

n/a = not applicable
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 2015, 2014 and 2013.
 
 
 
 
 
 
 
Reclassifications Out of Accumulated OCI
 
 
 
 
 
 
 
 
 
 
(Dollars in millions)
 
 
 
 
 
 
Accumulated OCI Components
Income Statement Line Item Impacted
2015
 
2014
 
2013
Available-for-sale debt securities:
 
 
 
 
 
 
 
Gains on sales of debt securities
$
1,091

 
$
1,354

 
$
1,271

 
Other loss
(81
)
 
(16
)
 
(20
)
 
Income before income taxes
1,010

 
1,338

 
1,251

 
Income tax expense
384

 
508

 
463

 
Reclassification to net income
626

 
830

 
788

Available-for-sale marketable equity securities:
 
 
 
 
 
 
 
Equity investment income
—

 
—

 
771

 
Income before income taxes
—

 
—

 
771

 
Income tax expense
—

 
—

 
285

 
Reclassification to net income
—

 
—

 
486

Debit valuation adjustments:
 
 
 
 
 
 
 
Other loss
(556
)
 
n/a

 
n/a

 
Loss before income taxes
(556
)
 
n/a

 
n/a

 
Income tax benefit
(211
)
 
n/a

 
n/a

 
Reclassification to net income
(345
)
 
n/a

 
n/a

Derivatives:
 
 
 
 
 
 
Interest rate contracts
Net interest income
(974
)
 
(1,119
)
 
(1,119
)
Commodity contracts
Trading account losses
—

 
—

 
(1
)
Interest rate contracts
Other income
—

 
—

 
18

Equity compensation contracts
Personnel
91

 
359

 
329

 
Loss before income taxes
(883
)
 
(760
)
 
(773
)
 
Income tax benefit
(332
)
 
(285
)
 
(286
)
 
Reclassification to net income
(551
)
 
(475
)
 
(487
)
Employee benefit plans:
 
 
 
 
 
 
Prior service cost
Personnel
(5
)
 
(5
)
 
(4
)
Net actuarial losses
Personnel
(164
)
 
(50
)
 
(225
)
Settlements and curtailments
Personnel
—

 
—

 
(8
)
 
Loss before income taxes
(169
)
 
(55
)
 
(237
)
 
Income tax benefit
(62
)
 
(23
)
 
(79
)
 
Reclassification to net income
(107
)
 
(32
)
 
(158
)
Foreign currency:
 
 
 
 
 
 
 
Other income (loss)
38

 
(20
)
 
(138
)
 
Income (loss) before income taxes
38

 
(20
)
 
(138
)
 
Income tax expense (benefit)
38

 
(12
)
 
(133
)
 
Reclassification to net income
—

 
(8
)
 
(5
)
Total reclassification adjustments
 
$
(377
)
 
$
315

 
$
624


n/a = not applicable