Quarterly report pursuant to Section 13 or 15(d)

Accumulated Other Comprehensive Income (Loss)

v3.22.1
Accumulated Other Comprehensive Income (Loss)
 3 Months Ended
Mar. 31, 2022
Equity [Abstract]  
Accumulated Other Comprehensive Income (Loss) Accumulated Other Comprehensive Income (Loss)
The table below presents the changes in accumulated OCI after-tax for the three months ended March 31, 2022 and 2021.
(Dollars in millions) Debt Securities Debit Valuation Adjustments Derivatives Employee
Benefit Plans		 Foreign
Currency		 Total
Balance, December 31, 2020 $ 5,122  $ (1,992) $ 426  $ (4,266) $ (946) $ (1,656)
Net change (840) 116  (1,114) 51  (29) (1,816)
Balance, March 31, 2021 $ 4,282  $ (1,876) $ (688) $ (4,215) $ (975) $ (3,472)
Balance, December 31, 2021 $ 3,045  $ (1,636) $ (1,880) $ (3,642) $ (991) $ (5,104)
Net change (3,447) 261  (5,179) 24  28  (8,313)
Balance, March 31, 2022 $ (402) $ (1,375) $ (7,059) $ (3,618) $ (963) $ (13,417)
The following table 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 the three months ended March 31, 2022 and 2021.
Pretax Tax
effect		 After-
tax		 Pretax Tax
effect		 After-
tax
Three Months Ended March 31
(Dollars in millions) 2022 2021
Debt securities:
Net increase (decrease) in fair value $ (4,565) $ 1,123  $ (3,442) $ (1,110) $ 270  $ (840)
Net realized gains reclassified into earnings (1)
(7) 2  (5) —  —  — 
Net change (4,572) 1,125  (3,447) (1,110) 270  (840)
Debit valuation adjustments:
Net increase (decrease) in fair value 343  (83) 260  140  (29) 111 
Net realized losses reclassified into earnings (1)
1  —  1  6  (1) 5 
Net change 344  (83) 261  146  (30) 116 
Derivatives:
Net increase (decrease) in fair value (6,893) 1,719  (5,174) (1,429) 356  (1,073)
Reclassifications into earnings:
Net interest income 6  (2) 4  (42) 10  (32)
Compensation and benefits expense (12) 3  (9) (12) 3  (9)
Net realized gains reclassified into earnings (6) 1  (5) (54) 13  (41)
Net change (6,899) 1,720  (5,179) (1,483) 369  (1,114)
Employee benefit plans:
Net actuarial losses and other reclassified into earnings (2)
42  (18) 24  67  (16) 51 
Net change 42  (18) 24  67  (16) 51 
Foreign currency:
Net increase (decrease) in fair value 80  (52) 28  144  (173) (29)
Net change 80  (52) 28  144  (173) (29)
Total other comprehensive income (loss) $ (11,005) $ 2,692  $ (8,313) $ (2,236) $ 420  $ (1,816)
(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.