Annual report pursuant to Section 13 and 15(d)

Accumulated Other Comprehensive Income (Loss) (Tables)

v3.22.0.1
Accumulated Other Comprehensive Income (Loss) (Tables)
12 Months Ended
Dec. 31, 2021
Equity [Abstract]  
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  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) (1) 104  (26) 78 
Compensation and benefits expense (55) 13  (42) (12) (9) — 
Net realized (gains) losses reclassified into earnings (221) 61  (160) (6) (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  —  (1)
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) —  (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.