Annual report pursuant to Section 13 and 15(d)

Accumulated Other Comprehensive Income (Loss)

v3.19.3.a.u2
Accumulated Other Comprehensive Income (Loss)
12 Months Ended
Dec. 31, 2019
Equity [Abstract]  
Accumulated Other Comprehensive Income (Loss) Accumulated Other Comprehensive Income (Loss)
The table below presents the changes in accumulated OCI after-tax for 2019, 2018 and 2017.
 
 
 
 
 
 
 
 
 
 
 
 
(Dollars in millions)
Debt Securities
 
Debit Valuation Adjustments
 
Derivatives
 
Employee
Benefit Plans
 
Foreign
Currency
 
Total
Balance, December 31, 2016
$
(1,267
)
 
$
(767
)
 
$
(895
)
 
$
(3,480
)
 
$
(879
)
 
$
(7,288
)
Net change
61

 
(293
)
 
64

 
288

 
86

 
206

Balance, December 31, 2017
$
(1,206
)
 
$
(1,060
)
 
$
(831
)
 
$
(3,192
)
 
$
(793
)
 
$
(7,082
)
Accounting change related to certain tax effects
(393
)
 
(220
)
 
(189
)
 
(707
)
 
239

 
(1,270
)
Cumulative adjustment for hedge accounting change

 

 
57

 

 

 
57

Net change
(3,953
)
 
749

 
(53
)
 
(405
)
 
(254
)
 
(3,916
)
Balance, December 31, 2018
$
(5,552
)
 
$
(531
)
 
$
(1,016
)
 
$
(4,304
)
 
$
(808
)
 
$
(12,211
)
Net change
5,875

 
(963
)
 
616

 
136

 
(86
)
 
5,578

Balance, December 31, 2019
$
323

 
$
(1,494
)
 
$
(400
)
 
$
(4,168
)
 
$
(894
)
 
$
(6,633
)

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 2019, 2018 and 2017.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Pretax
 
Tax
effect
 
After-
tax
 
Pretax
 
Tax
effect
 
After-
tax
 
Pretax
 
Tax effect
 
After-
tax
(Dollars in millions)
2019
 
2018
 
2017
Debt securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net increase (decrease) in fair value
$
8,020

 
$
(2,000
)
 
$
6,020

 
$
(5,189
)
 
$
1,329

 
$
(3,860
)
 
$
240

 
$
14

 
$
254

Net realized (gains) reclassified into earnings (1)
(193
)
 
48

 
(145
)
 
(123
)
 
30

 
(93
)
 
(304
)
 
111

 
(193
)
Net change
7,827

 
(1,952
)
 
5,875

 
(5,312
)
 
1,359

 
(3,953
)
 
(64
)
 
125

 
61

Debit valuation adjustments:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net increase (decrease) in fair value
(1,276
)
 
289

 
(987
)
 
952

 
(224
)
 
728

 
(490
)
 
171

 
(319
)
Net realized losses reclassified into earnings (1)
18

 
6

 
24

 
26

 
(5
)
 
21

 
42

 
(16
)
 
26

Net change
(1,258
)
 
295

 
(963
)
 
978

 
(229
)
 
749

 
(448
)
 
155

 
(293
)
Derivatives:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net increase (decrease) in fair value
692

 
(156
)
 
536

 
(232
)
 
74

 
(158
)
 
(50
)
 
1

 
(49
)
Reclassifications into earnings:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net interest income
104

 
(26
)
 
78

 
165

 
(40
)
 
125

 
327

 
(122
)
 
205

Compensation and benefits expense
2

 

 
2

 
(27
)
 
7

 
(20
)
 
(148
)
 
56

 
(92
)
Net realized losses reclassified into earnings
106

 
(26
)
 
80

 
138

 
(33
)
 
105

 
179

 
(66
)
 
113

Net change
798

 
(182
)
 
616

 
(94
)
 
41

 
(53
)
 
129

 
(65
)
 
64

Employee benefit plans:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net increase (decrease) in fair value
41

 
(21
)
 
20

 
(703
)
 
164

 
(539
)
 
223

 
(55
)
 
168

Net actuarial losses and other reclassified into earnings (2)
150

 
(36
)
 
114

 
171

 
(46
)
 
125

 
179

 
(61
)
 
118

Settlements, curtailments and other
3

 
(1
)
 
2

 
11

 
(2
)
 
9

 
3

 
(1
)
 
2

Net change
194

 
(58
)
 
136

 
(521
)
 
116

 
(405
)
 
405

 
(117
)
 
288

Foreign currency:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net (decrease) in fair value
(13
)
 
(52
)
 
(65
)
 
(8
)
 
(195
)
 
(203
)
 
(439
)
 
430

 
(9
)
Net realized (gains) losses reclassified into earnings (3)
(110
)
 
89

 
(21
)
 
(149
)
 
98

 
(51
)
 
(606
)
 
701

 
95

Net change
(123
)
 
37

 
(86
)
 
(157
)
 
(97
)
 
(254
)
 
(1,045
)
 
1,131

 
86

Total other comprehensive income (loss)
$
7,438

 
$
(1,860
)
 
$
5,578

 
$
(5,106
)
 
$
1,190

 
$
(3,916
)
 
$
(1,023
)
 
$
1,229

 
$
206

(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.