|
Accumulated Other Comprehensive Income (Loss) (Tables)
|
9 Months Ended |
|
Sep. 30, 2014
|
| Equity [Abstract] |
|
| Schedule of Accumulated OCI |
The table below presents the changes in accumulated OCI after-tax for the nine months ended September 30, 2014 and 2013.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Dollars in millions) |
Available-for-sale Debt Securities |
|
Available-for-sale
Marketable
Equity Securities
|
|
Derivatives |
|
Employee
Benefit Plans
|
|
Foreign
Currency (1)
|
|
Total |
Balance, December 31, 2012 |
$ |
4,443 |
|
|
$ |
462 |
|
|
$ |
(2,869 |
) |
|
$ |
(4,456 |
) |
|
$ |
(377 |
) |
|
$ |
(2,797 |
) |
Net change |
(5,303 |
) |
|
(467 |
) |
|
365 |
|
|
1,513 |
|
|
(134 |
) |
|
(4,026 |
) |
Balance, September 30, 2013 |
$ |
(860 |
) |
|
$ |
(5 |
) |
|
$ |
(2,504 |
) |
|
$ |
(2,943 |
) |
|
$ |
(511 |
) |
|
$ |
(6,823 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
Balance, December 31, 2013 |
$ |
(3,257 |
) |
|
$ |
(4 |
) |
|
$ |
(2,277 |
) |
|
$ |
(2,407 |
) |
|
$ |
(512 |
) |
|
$ |
(8,457 |
) |
Net change |
2,601 |
|
|
(1 |
) |
|
411 |
|
|
64 |
|
|
(133 |
) |
|
2,942 |
|
Balance, September 30, 2014 |
$ |
(656 |
) |
|
$ |
(5 |
) |
|
$ |
(1,866 |
) |
|
$ |
(2,343 |
) |
|
$ |
(645 |
) |
|
$ |
(5,515 |
) |
|
|
(1) |
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. |
|
| Schedule of Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block] |
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 the nine months ended September 30, 2014 and 2013.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Changes in OCI Components Before- and After-tax |
|
Nine Months Ended September 30 |
|
2014 |
|
2013 |
(Dollars in millions) |
Before-tax |
|
Tax effect |
|
After-tax |
|
Before-tax |
|
Tax effect |
|
After-tax |
Available-for-sale debt securities: |
|
|
|
|
|
|
|
|
|
|
|
Net increase (decrease) in fair value |
$ |
5,322 |
|
|
$ |
(1,990 |
) |
|
$ |
3,332 |
|
|
$ |
(7,573 |
) |
|
$ |
2,813 |
|
|
$ |
(4,760 |
) |
Net realized gains reclassified into earnings |
(1,179 |
) |
|
448 |
|
|
(731 |
) |
|
(861 |
) |
|
318 |
|
|
(543 |
) |
Net change |
4,143 |
|
|
(1,542 |
) |
|
2,601 |
|
|
(8,434 |
) |
|
3,131 |
|
|
(5,303 |
) |
Available-for-sale marketable equity securities: |
|
|
|
|
|
|
|
|
|
|
|
Net increase (decrease) in fair value |
(1 |
) |
|
— |
|
|
(1 |
) |
|
28 |
|
|
(10 |
) |
|
18 |
|
Net realized gains reclassified into earnings |
— |
|
|
— |
|
|
— |
|
|
(765 |
) |
|
280 |
|
|
(485 |
) |
Net change |
(1 |
) |
|
— |
|
|
(1 |
) |
|
(737 |
) |
|
270 |
|
|
(467 |
) |
Derivatives: |
|
|
|
|
|
|
|
|
|
|
|
Net increase (decrease) in fair value |
106 |
|
|
(20 |
) |
|
86 |
|
|
(3 |
) |
|
— |
|
|
(3 |
) |
Net realized losses reclassified into earnings |
521 |
|
|
(196 |
) |
|
325 |
|
|
584 |
|
|
(216 |
) |
|
368 |
|
Net change |
627 |
|
|
(216 |
) |
|
411 |
|
|
581 |
|
|
(216 |
) |
|
365 |
|
Employee benefit plans: |
|
|
|
|
|
|
|
|
|
|
|
Net increase in fair value |
— |
|
|
— |
|
|
— |
|
|
2,138 |
|
|
(795 |
) |
|
1,343 |
|
Net realized losses reclassified into earnings |
37 |
|
|
(14 |
) |
|
23 |
|
|
204 |
|
|
(68 |
) |
|
136 |
|
Settlements, curtailments and other |
— |
|
|
41 |
|
|
41 |
|
|
46 |
|
|
(12 |
) |
|
34 |
|
Net change |
37 |
|
|
27 |
|
|
64 |
|
|
2,388 |
|
|
(875 |
) |
|
1,513 |
|
Foreign currency: |
|
|
|
|
|
|
|
|
|
|
|
Net decrease in fair value |
258 |
|
|
(390 |
) |
|
(132 |
) |
|
214 |
|
|
(347 |
) |
|
(133 |
) |
Net realized gains reclassified into earnings |
(2 |
) |
|
1 |
|
|
(1 |
) |
|
31 |
|
|
(32 |
) |
|
(1 |
) |
Net change |
256 |
|
|
(389 |
) |
|
(133 |
) |
|
245 |
|
|
(379 |
) |
|
(134 |
) |
Total other comprehensive income (loss) |
$ |
5,062 |
|
|
$ |
(2,120 |
) |
|
$ |
2,942 |
|
|
$ |
(5,957 |
) |
|
$ |
1,931 |
|
|
$ |
(4,026 |
) |
|
| 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 the nine months ended September 30, 2014 and 2013.
|
|
|
|
|
|
|
|
|
|
Reclassifications Out of Accumulated OCI |
(Dollars in millions) |
|
Nine Months Ended September 30 |
Accumulated OCI Components |
Income Statement Line Item Impacted |
2014 |
|
2013 |
Available-for-sale debt securities: |
|
|
|
|
|
Gains on sales of debt securities |
$ |
1,191 |
|
|
$ |
881 |
|
|
Other income (loss) |
(12 |
) |
|
(20 |
) |
|
Income before income taxes |
1,179 |
|
|
861 |
|
|
Income tax expense |
448 |
|
|
318 |
|
|
Reclassification to net income |
731 |
|
|
543 |
|
Available-for-sale marketable equity securities: |
|
|
|
|
|
Equity investment income |
— |
|
|
765 |
|
|
Income before income taxes |
— |
|
|
765 |
|
|
Income tax expense |
— |
|
|
280 |
|
|
Reclassification to net income |
— |
|
|
485 |
|
Derivatives: |
|
|
|
|
Interest rate contracts |
Net interest income |
(831 |
) |
|
(818 |
) |
Commodity contracts |
Trading account profits |
— |
|
|
(1 |
) |
Interest rate contracts |
Other income |
— |
|
|
18 |
|
Equity compensation contracts |
Personnel |
310 |
|
|
217 |
|
|
Loss before income taxes |
(521 |
) |
|
(584 |
) |
|
Income tax benefit |
(196 |
) |
|
(216 |
) |
|
Reclassification to net income |
(325 |
) |
|
(368 |
) |
Employee benefit plans: |
|
|
|
|
Prior service costs, net actuarial losses and other |
Personnel |
(37 |
) |
|
(204 |
) |
|
Loss before income taxes |
(37 |
) |
|
(204 |
) |
|
Income tax benefit |
(14 |
) |
|
(68 |
) |
|
Reclassification to net income |
(23 |
) |
|
(136 |
) |
Foreign currency: |
|
|
|
|
Insignificant items |
Other income (loss) |
2 |
|
|
(31 |
) |
|
Income (loss) before income taxes |
2 |
|
|
(31 |
) |
|
Income tax expense (benefit) |
1 |
|
|
(32 |
) |
|
Reclassification to net income |
1 |
|
|
1 |
|
Total reclassification adjustments |
|
$ |
384 |
|
|
$ |
525 |
|
|