Annual report pursuant to Section 13 and 15(d)

Accumulated Other Comprehensive Income (Loss) (Tables)

v2.4.0.6
Accumulated Other Comprehensive Income (Loss) (Tables)
 12 Months Ended
Dec. 31, 2012
Accumulated Other Comprehensive Income [Abstract]  
Accumulated OCI
The table below presents the changes in accumulated OCI after-tax for 2010, 2011 and 2012.
 
 
 
 
 
 
 
 
 
 
 
 
(Dollars in millions)
Available-for-
Sale Debt
Securities
 
Available-for-
Sale Marketable
Equity Securities
 
Derivatives
 
Employee
Benefit Plans (1)
 
Foreign
Currency (2)
 
Total
Balance, December 31, 2009
$
(628
)
 
$
2,129

 
$
(2,535
)
 
$
(4,092
)
 
$
(493
)
 
$
(5,619
)
Net change
1,342

 
4,530

 
(701
)
 
145

 
237

 
5,553

Balance, December 31, 2010
$
714

 
$
6,659

 
$
(3,236
)
 
$
(3,947
)
 
$
(256
)
 
$
(66
)
Net change
2,386

 
(6,656
)
 
(549
)
 
(444
)
 
(108
)
 
(5,371
)
Balance, December 31, 2011
$
3,100

 
$
3

 
$
(3,785
)
 
$
(4,391
)
 
$
(364
)
 
$
(5,437
)
Net change
1,343

 
459

 
916

 
(65
)
 
(13
)
 
2,640

Balance, December 31, 2012
$
4,443

 
$
462

 
$
(2,869
)
 
$
(4,456
)
 
$
(377
)
 
$
(2,797
)
(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 18 – Employee Benefit Plans.
(2) 
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.
The table below presents the before- and after-tax changes in accumulated OCI for 2012, 2011 and 2010.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2012
 
2011
 
2010
(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:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cumulative adjustments for accounting changes:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Consolidation of certain variable interest entities
$
—

 
$
—

 
$
—

 
$
—

 
$
—

 
$
—

 
$
(184
)
 
$
68

 
$
(116
)
Credit-related notes
—

 
—

 
—

 
—

 
—

 
—

 
364

 
(135
)
 
229

Net change in fair value recorded in accumulated OCI
3,676

 
(1,319
)
 
2,357

 
6,925

 
(2,594
)
 
4,331

 
3,541

 
(1,331
)
 
2,210

Net realized (gains) losses reclassified into earnings
(1,609
)
 
595

 
(1,014
)
 
(3,087
)
 
1,142

 
(1,945
)
 
(1,557
)
 
576

 
(981
)
Net change
2,067

 
(724
)
 
1,343

 
3,838

 
(1,452
)
 
2,386

 
2,164

 
(822
)
 
1,342

Available-for-sale marketable equity securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net change in fair value recorded in accumulated OCI
748

 
(277
)
 
471

 
(4,114
)
 
1,575

 
(2,539
)
 
9,029

 
(3,372
)
 
5,657

Net realized (gains) losses reclassified into earnings
(19
)
 
7

 
(12
)
 
(6,501
)
 
2,384

 
(4,117
)
 
(1,789
)
 
662

 
(1,127
)
Net change
729

 
(270
)
 
459

 
(10,615
)
 
3,959

 
(6,656
)
 
7,240

 
(2,710
)
 
4,530

Derivatives:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net change in fair value recorded in accumulated OCI
430

 
(166
)
 
264

 
(2,490
)
 
923

 
(1,567
)
 
(1,755
)
 
647

 
(1,108
)
Net realized (gains) losses reclassified into earnings
1,035

 
(383
)
 
652

 
1,617

 
(599
)
 
1,018

 
644

 
(237
)
 
407

Net change
1,465

 
(549
)
 
916

 
(873
)
 
324

 
(549
)
 
(1,111
)
 
410

 
(701
)
Employee benefit plans:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net change in fair value recorded in accumulated OCI
(1,891
)
 
660

 
(1,231
)
 
(1,171
)
 
457

 
(714
)
 
(162
)
 
58

 
(104
)
Net realized (gains) losses reclassified into earnings
490

 
(192
)
 
298

 
437

 
(167
)
 
270

 
396

 
(147
)
 
249

Settlements and curtailments
1,378

 
(510
)
 
868

 
—

 
—

 
—

 
—

 
—

 
—

Net change
(23
)
 
(42
)
 
(65
)
 
(734
)
 
290

 
(444
)
 
234

 
(89
)
 
145

Foreign currency:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net change in fair value recorded in accumulated OCI
(226
)
 
233

 
7

 
145

 
(179
)
 
(34
)
 
(204
)
 
160

 
(44
)
Net realized (gains) losses reclassified into earnings
(30
)
 
10

 
(20
)
 
(65
)
 
(9
)
 
(74
)
 
446

 
(165
)
 
281

Net change
(256
)
 
243

 
(13
)
 
80

 
(188
)
 
(108
)
 
242

 
(5
)
 
237

Total other comprehensive income (loss)
$
3,982

 
$
(1,342
)
 
$
2,640

 
$
(8,304
)
 
$
2,933

 
$
(5,371
)
 
$
8,769

 
$
(3,216
)
 
$
5,553



Pre-tax amounts included in accumulated OCI for employee benefit plans at December 31, 2012 and 2011 are presented in the table below.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Pre-tax Amounts included in Accumulated OCI
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Qualified
Pension Plans
 
Non-U.S.
Pension Plans
 
Nonqualified
and Other
Pension Plans
 
Postretirement
Health and
Life Plans
 
Total
(Dollars in millions)
2012
 
2011
 
2012
 
2011
 
2012
 
2011
 
2012
 
2011
 
2012
 
2011
Net actuarial loss (gain)
$
6,164

 
$
6,743

 
$
144

 
$
(212
)
 
$
718

 
$
409

 
$
(28
)
 
$
(59
)
 
$
6,998

 
$
6,881

Transition obligation
—

 
—

 
—

 
—

 
—

 
—

 
—

 
32

 
—

 
32

Prior service cost (credits)
—

 
67

 
5

 
3

 
—

 
(7
)
 
29

 
33

 
34

 
96

Amounts recognized in accumulated OCI
$
6,164

 
$
6,810

 
$
149

 
$
(209
)
 
$
718

 
$
402

 
$
1

 
$
6

 
$
7,032

 
$
7,009