| Schedule of Accumulated OCI |
The table below presents the changes in accumulated OCI after-tax for 2021, 2020 and 2019.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (Dollars in millions) |
Debt Securities |
|
Debit Valuation Adjustments |
|
Derivatives |
|
Employee
Benefit Plans |
|
Foreign
Currency |
|
Total |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 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) |
|
| Net change |
4,799 |
|
|
(498) |
|
|
826 |
|
|
(98) |
|
|
(52) |
|
|
4,977 |
|
| Balance, December 31, 2020 |
$ |
5,122 |
|
|
$ |
(1,992) |
|
|
$ |
426 |
|
|
$ |
(4,266) |
|
|
$ |
(946) |
|
|
$ |
(1,656) |
|
| Net change |
(2,077) |
|
|
356
|
|
|
(2,306) |
|
|
624
|
|
|
(45) |
|
|
(3,448) |
|
| Balance, December 31, 2021 |
$ |
3,045
|
|
|
$ |
(1,636) |
|
|
$ |
(1,880) |
|
|
$ |
(3,642) |
|
|
$ |
(991) |
|
|
$ |
(5,104) |
|
|
| 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 pre- and after-tax for 2021, 2020 and 2019.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pretax |
|
Tax
effect |
|
After-
tax |
|
Pretax |
|
Tax
effect |
|
After-
tax |
|
Pretax |
|
Tax effect |
|
After-
tax |
|
|
|
|
|
|
|
|
| (Dollars in millions) |
2021 |
|
2020 |
|
2019 |
| Debt securities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net increase (decrease) in fair value |
$ |
(2,749) |
|
|
$ |
689
|
|
|
$ |
(2,060) |
|
|
$ |
6,819 |
|
|
$ |
(1,712) |
|
|
$ |
5,107 |
|
|
$ |
8,020 |
|
|
$ |
(2,000) |
|
|
$ |
6,020 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net realized gains reclassified into earnings (1)
|
(22) |
|
|
5
|
|
|
(17) |
|
|
(411) |
|
|
103 |
|
|
(308) |
|
|
(193) |
|
|
48 |
|
|
(145) |
|
| Net change |
(2,771) |
|
|
694
|
|
|
(2,077) |
|
|
6,408 |
|
|
(1,609) |
|
|
4,799 |
|
|
7,827 |
|
|
(1,952) |
|
|
5,875 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Debit valuation adjustments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net increase (decrease) in fair value |
449
|
|
|
(103) |
|
|
346
|
|
|
(669) |
|
|
156 |
|
|
(513) |
|
|
(1,276) |
|
|
289 |
|
|
(987) |
|
Net realized losses reclassified into earnings (1)
|
13
|
|
|
(3) |
|
|
10
|
|
|
19 |
|
|
(4) |
|
|
15 |
|
|
18 |
|
|
6 |
|
|
24 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net change |
462
|
|
|
(106) |
|
|
356
|
|
|
(650) |
|
|
152 |
|
|
(498) |
|
|
(1,258) |
|
|
295 |
|
|
(963) |
|
| Derivatives: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net increase (decrease) in fair value |
(2,849) |
|
|
703
|
|
|
(2,146) |
|
|
1,098 |
|
|
(268) |
|
|
830 |
|
|
692 |
|
|
(156) |
|
|
536 |
|
Reclassifications into earnings: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net interest income |
(166) |
|
|
48
|
|
|
(118) |
|
|
6 |
|
|
(1) |
|
|
5 |
|
|
104 |
|
|
(26) |
|
|
78 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Compensation and benefits expense |
(55) |
|
|
13
|
|
|
(42) |
|
|
(12) |
|
|
3 |
|
|
(9) |
|
|
2 |
|
|
— |
|
|
2 |
|
| Net realized (gains) losses reclassified into earnings |
(221) |
|
|
61
|
|
|
(160) |
|
|
(6) |
|
|
2 |
|
|
(4) |
|
|
106 |
|
|
(26) |
|
|
80 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net change |
(3,070) |
|
|
764
|
|
|
(2,306) |
|
|
1,092 |
|
|
(266) |
|
|
826 |
|
|
798 |
|
|
(182) |
|
|
616 |
|
| Employee benefit plans: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net increase (decrease) in fair value |
463
|
|
|
(72) |
|
|
391
|
|
|
(381) |
|
|
80 |
|
|
(301) |
|
|
41 |
|
|
(21) |
|
|
20 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net actuarial losses and other reclassified into earnings (2)
|
295
|
|
|
(67) |
|
|
228
|
|
|
261 |
|
|
(63) |
|
|
198 |
|
|
150 |
|
|
(36) |
|
|
114 |
|
| Settlements, curtailments and other |
5
|
|
|
—
|
|
|
5
|
|
|
5 |
|
|
— |
|
|
5 |
|
|
3 |
|
|
(1) |
|
|
2 |
|
| Net change |
763
|
|
|
(139) |
|
|
624
|
|
|
(115) |
|
|
17 |
|
|
(98) |
|
|
194 |
|
|
(58) |
|
|
136 |
|
| Foreign currency: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net increase (decrease) in fair value |
296
|
|
|
(341) |
|
|
(45) |
|
|
(251) |
|
|
199 |
|
|
(52) |
|
|
(13) |
|
|
(52) |
|
|
(65) |
|
Net realized (gains) reclassified into earnings (1)
|
(5) |
|
|
5
|
|
|
—
|
|
|
(1) |
|
|
1 |
|
|
— |
|
|
(110) |
|
|
89 |
|
|
(21) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net change |
291
|
|
|
(336) |
|
|
(45) |
|
|
(252) |
|
|
200 |
|
|
(52) |
|
|
(123) |
|
|
37 |
|
|
(86) |
|
| Total other comprehensive income (loss) |
$ |
(4,325) |
|
|
$ |
877
|
|
|
$ |
(3,448) |
|
|
$ |
6,483 |
|
|
$ |
(1,506) |
|
|
$ |
4,977 |
|
|
$ |
7,438 |
|
|
$ |
(1,860) |
|
|
$ |
5,578 |
|
(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.
|