| Accumulated OCI |
The table below presents the changes in accumulated OCI after-tax for the three months ended March 31, 2012, and 2011.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(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, 2010 |
$ |
714 |
|
|
$ |
6,659 |
|
|
$ |
(3,236 |
) |
|
$ |
(3,947 |
) |
|
$ |
(256 |
) |
|
$ |
(66 |
) |
Net change |
(649 |
) |
|
810 |
|
|
266 |
|
|
75 |
|
|
27 |
|
|
529 |
|
Balance, March 31, 2011 |
$ |
65 |
|
|
$ |
7,469 |
|
|
$ |
(2,970 |
) |
|
$ |
(3,872 |
) |
|
$ |
(229 |
) |
|
$ |
463 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance, December 31, 2011 |
$ |
3,100 |
|
|
$ |
3 |
|
|
$ |
(3,785 |
) |
|
$ |
(4,391 |
) |
|
$ |
(364 |
) |
|
$ |
(5,437 |
) |
Net change |
(938 |
) |
|
14 |
|
|
382 |
|
|
952 |
|
|
31 |
|
|
441 |
|
Balance, March 31, 2012 |
$ |
2,162 |
|
|
$ |
17 |
|
|
$ |
(3,403 |
) |
|
$ |
(3,439 |
) |
|
$ |
(333 |
) |
|
$ |
(4,996 |
) |
|
|
(1) |
Net change in fair value represents only 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 the three months ended March 31, 2012, and 2011.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended March 31 |
|
2012 |
|
2011 |
(Dollars in millions) |
Before-tax |
|
Tax effect |
|
After-tax |
|
Before-tax |
|
Tax effect |
|
After-tax |
Available-for-sale debt securities: |
|
|
|
|
|
|
|
|
|
|
|
Net change in fair value recorded in accumulated OCI |
$ |
(780 |
) |
|
$ |
291 |
|
|
$ |
(489 |
) |
|
$ |
(576 |
) |
|
$ |
216 |
|
|
$ |
(360 |
) |
Net realized (gains) losses reclassified into earnings |
(712 |
) |
|
263 |
|
|
(449 |
) |
|
(458 |
) |
|
169 |
|
|
(289 |
) |
Net change |
(1,492 |
) |
|
554 |
|
|
(938 |
) |
|
(1,034 |
) |
|
385 |
|
|
(649 |
) |
Available-for-sale marketable equity securities: |
|
|
|
|
|
|
|
|
|
|
|
Net change in fair value recorded in accumulated OCI |
25 |
|
|
(10 |
) |
|
15 |
|
|
1,290 |
|
|
(469 |
) |
|
821 |
|
Net realized (gains) losses reclassified into earnings |
(2 |
) |
|
1 |
|
|
(1 |
) |
|
(18 |
) |
|
7 |
|
|
(11 |
) |
Net change |
23 |
|
|
(9 |
) |
|
14 |
|
|
1,272 |
|
|
(462 |
) |
|
810 |
|
Derivatives: |
|
|
|
|
|
|
|
|
|
|
|
Net change in fair value recorded in accumulated OCI |
413 |
|
|
(153 |
) |
|
260 |
|
|
94 |
|
|
(35 |
) |
|
59 |
|
Net realized (gains) losses reclassified into earnings |
194 |
|
|
(72 |
) |
|
122 |
|
|
328 |
|
|
(121 |
) |
|
207 |
|
Net change |
607 |
|
|
(225 |
) |
|
382 |
|
|
422 |
|
|
(156 |
) |
|
266 |
|
Employee benefit plans: |
|
|
|
|
|
|
|
|
|
|
|
Net realized (gains) losses reclassified into earnings |
128 |
|
|
(46 |
) |
|
82 |
|
|
119 |
|
|
(44 |
) |
|
75 |
|
Settlements and curtailments |
1,381 |
|
|
(511 |
) |
|
870 |
|
|
— |
|
|
— |
|
|
— |
|
Net change |
1,509 |
|
|
(557 |
) |
|
952 |
|
|
119 |
|
|
(44 |
) |
|
75 |
|
Foreign currency: |
|
|
|
|
|
|
|
|
|
|
|
Net change in fair value recorded in accumulated OCI |
(256 |
) |
|
287 |
|
|
31 |
|
|
(272 |
) |
|
299 |
|
|
27 |
|
Net change |
(256 |
) |
|
287 |
|
|
31 |
|
|
(272 |
) |
|
299 |
|
|
27 |
|
Other comprehensive income |
$ |
391 |
|
|
$ |
50 |
|
|
$ |
441 |
|
|
$ |
507 |
|
|
$ |
22 |
|
|
$ |
529 |
|
|