| Schedule of Accumulated OCI |
The table below presents the changes in accumulated OCI after-tax for the three months ended March 31, 2016 and 2015.
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(Dollars in millions) |
Debt Securities |
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Available-for-sale
Marketable
Equity Securities
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Debit Valuation Adjustments (1)
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Derivatives |
|
Employee
Benefit Plans
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|
Foreign
Currency (2)
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Total |
Balance, December 31, 2014 |
$ |
1,343 |
|
|
$ |
17 |
|
|
n/a |
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|
$ |
(1,661 |
) |
|
$ |
(3,350 |
) |
|
$ |
(669 |
) |
|
$ |
(4,320 |
) |
Cumulative adjustment for accounting change |
— |
|
|
— |
|
|
$ |
(1,226 |
) |
|
— |
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|
— |
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|
— |
|
|
(1,226 |
) |
Net change |
1,317 |
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|
19 |
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|
260 |
|
|
43 |
|
|
25 |
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|
(51 |
) |
|
1,613 |
|
Balance, March 31, 2015 |
$ |
2,660 |
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|
$ |
36 |
|
|
$ |
(966 |
) |
|
$ |
(1,618 |
) |
|
$ |
(3,325 |
) |
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$ |
(720 |
) |
|
$ |
(3,933 |
) |
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Balance, December 31, 2015 |
$ |
(300 |
) |
|
$ |
62 |
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$ |
(611 |
) |
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$ |
(1,077 |
) |
|
$ |
(2,956 |
) |
|
$ |
(792 |
) |
|
$ |
(5,674 |
) |
Net change |
2,924 |
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|
(33 |
) |
|
127 |
|
|
24 |
|
|
10 |
|
|
12 |
|
|
3,064 |
|
Balance, March 31, 2016 |
$ |
2,624 |
|
|
$ |
29 |
|
|
$ |
(484 |
) |
|
$ |
(1,053 |
) |
|
$ |
(2,946 |
) |
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$ |
(780 |
) |
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$ |
(2,610 |
) |
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(1) |
For information on the impact of early adoption of new accounting guidance on recognition and measurement of financial instruments, see Note 1 – Summary of Significant Accounting Principles.
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(2) |
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. |
n/a = not applicable
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| 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 three months ended March 31, 2016 and 2015.
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Changes in OCI Components Before- and After-tax |
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Three Months Ended March 31 |
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2016 |
|
2015 |
(Dollars in millions) |
Before-tax |
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Tax effect |
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After-tax |
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Before-tax |
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Tax effect |
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After-tax |
Debt securities: |
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Net change in unrealized gains (losses) |
$ |
4,936 |
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|
$ |
(1,876 |
) |
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$ |
3,060 |
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$ |
2,320 |
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|
$ |
(880 |
) |
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$ |
1,440 |
|
Net realized gains reclassified into earnings |
(219 |
) |
|
83 |
|
|
(136 |
) |
|
(198 |
) |
|
75 |
|
|
(123 |
) |
Net change |
4,717 |
|
|
(1,793 |
) |
|
2,924 |
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|
2,122 |
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|
(805 |
) |
|
1,317 |
|
Available-for-sale marketable equity securities: |
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Net increase (decrease) in fair value |
(54 |
) |
|
21 |
|
|
(33 |
) |
|
32 |
|
|
(13 |
) |
|
19 |
|
Net change |
(54 |
) |
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21 |
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|
(33 |
) |
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32 |
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|
(13 |
) |
|
19 |
|
Debit valuation adjustments: |
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Net increase in fair value |
195 |
|
|
(72 |
) |
|
123 |
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|
84 |
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(32 |
) |
|
52 |
|
Net realized losses reclassified into earnings |
7 |
|
|
(3 |
) |
|
4 |
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|
335 |
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|
(127 |
) |
|
208 |
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Net change |
202 |
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(75 |
) |
|
127 |
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|
419 |
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(159 |
) |
|
260 |
|
Derivatives: |
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Net decrease in fair value |
(159 |
) |
|
59 |
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|
(100 |
) |
|
(186 |
) |
|
69 |
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|
(117 |
) |
Net realized losses reclassified into earnings |
198 |
|
|
(74 |
) |
|
124 |
|
|
256 |
|
|
(96 |
) |
|
160 |
|
Net change |
39 |
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|
(15 |
) |
|
24 |
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|
70 |
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|
(27 |
) |
|
43 |
|
Employee benefit plans: |
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Net decrease in fair value |
— |
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|
— |
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|
— |
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|
(2 |
) |
|
1 |
|
|
(1 |
) |
Net realized losses reclassified into earnings |
25 |
|
|
(10 |
) |
|
15 |
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|
42 |
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|
(16 |
) |
|
26 |
|
Settlements, curtailments and other |
— |
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(5 |
) |
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(5 |
) |
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— |
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— |
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— |
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Net change |
25 |
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|
(15 |
) |
|
10 |
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|
40 |
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(15 |
) |
|
25 |
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Foreign currency: |
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Net increase (decrease) in fair value |
(134 |
) |
|
146 |
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|
12 |
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|
462 |
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|
(513 |
) |
|
(51 |
) |
Net change |
(134 |
) |
|
146 |
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|
12 |
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|
462 |
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|
(513 |
) |
|
(51 |
) |
Total other comprehensive income |
$ |
4,795 |
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$ |
(1,731 |
) |
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$ |
3,064 |
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$ |
3,145 |
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$ |
(1,532 |
) |
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$ |
1,613 |
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