Quarterly report pursuant to Section 13 or 15(d)

Accumulated Other Comprehensive Income (Loss) (Tables)

v2.4.0.8
Accumulated Other Comprehensive Income (Loss) (Tables)
 6 Months Ended
Jun. 30, 2013
Equity [Abstract]  
Accumulated OCI
The table below presents the changes in accumulated OCI after-tax for the six months ended June 30, 2013 and 2012.

(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, 2011
$
3,100

 
$
3

 
$
(3,785
)
 
$
(4,391
)
 
$
(364
)
 
$
(5,437
)
Net change
593

 
13

 
301

 
1,031

 
(1
)
 
1,937

Balance, June 30, 2012
$
3,693

 
$
16

 
$
(3,484
)
 
$
(3,360
)
 
$
(365
)
 
$
(3,500
)
 
 
 
 
 
 
 
 
 
 
 
 
Balance, December 31, 2012
$
4,443

 
$
462

 
$
(2,869
)
 
$
(4,456
)
 
$
(377
)
 
$
(2,797
)
Net change
(5,088
)
 
(51
)
 
185

 
133

 
(91
)
 
(4,912
)
Balance, June 30, 2013
$
(645
)
 
$
411

 
$
(2,684
)
 
$
(4,323
)
 
$
(468
)
 
$
(7,709
)
(1) 
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 Comprehensive Income (Loss) [Table Text Block]
The table below presents additional information on each component of OCI before- and after-tax for the six months ended June 30, 2013 and 2012.

Changes in OCI Components Before- and After-tax
 
Six Months Ended June 30
 
2013
 
2012
(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
$
(7,565
)
 
$
2,799

 
$
(4,766
)
 
$
1,995

 
$
(705
)
 
$
1,290

Net realized gains reclassified into earnings
(512
)
 
190

 
(322
)
 
(1,107
)
 
410

 
(697
)
Net change
(8,077
)
 
2,989

 
(5,088
)
 
888

 
(295
)
 
593

Available-for-sale marketable equity securities:
 
 
 
 
 
 
 
 
 
 
 
Net change in fair value recorded in accumulated OCI
(83
)
 
33

 
(50
)
 
22

 
(8
)
 
14

Net realized gains reclassified into earnings
(1
)
 
—

 
(1
)
 
(2
)
 
1

 
(1
)
Net change
(84
)
 
33

 
(51
)
 
20

 
(7
)
 
13

Derivatives:
 
 
 
 
 
 
 
 
 
 
 
Net change in fair value recorded in accumulated OCI
(125
)
 
45

 
(80
)
 
38

 
(15
)
 
23

Net realized losses reclassified into earnings
421

 
(156
)
 
265

 
440

 
(162
)
 
278

Net change
296

 
(111
)
 
185

 
478

 
(177
)
 
301

Employee benefit plans:
 
 
 
 
 
 
 
 
 
 
 
Net realized losses reclassified into earnings
146

 
(45
)
 
101

 
254

 
(93
)
 
161

Settlements and curtailments
42

 
(10
)
 
32

 
1,381

 
(511
)
 
870

Net change
188

 
(55
)
 
133

 
1,635

 
(604
)
 
1,031

Foreign currency:
 
 
 
 
 
 
 
 
 
 
 
Net change in fair value recorded in accumulated OCI
711

 
(801
)
 
(90
)
 
(14
)
 
16

 
2

Net realized (gains) losses reclassified into earnings
32

 
(33
)
 
(1
)
 
(3
)
 
—

 
(3
)
Net change
743

 
(834
)
 
(91
)
 
(17
)
 
16

 
(1
)
Total other comprehensive income (loss)
$
(6,934
)
 
$
2,022

 
$
(4,912
)
 
$
3,004

 
$
(1,067
)
 
$
1,937

Reclassification out of Accumulated Other Comprehensive Income
The table below presents effects on net income of significant amounts reclassified out of each component of accumulated OCI before- and after-tax for the six months ended June 30, 2013 and 2012.

Reclassifications Out of Accumulated OCI
(Dollars in millions)
 
Six Months Ended June 30
Accumulated OCI Components
Income Statement Line Item
2013

2012
Available-for-sale debt securities:
 
 
 
 
 
Gain on sale of debt securities
$
525

 
$
1,152

 
Other-than-temporary impairment
(13
)
 
(45
)
 
Income before income taxes
512

 
1,107

 
Income tax expense
190

 
410

 
Net income
322

 
697

Available-for-sale marketable equity securities:
 
 
 
 
 
Equity investment income
1

 
2

 
Income before income taxes
1

 
2

 
Income tax expense
—

 
1

 
Net income
1

 
1

Derivatives:
 
 
 
 
Interest rate contracts
Net interest income
(547
)
 
(376
)
Commodity contracts
Trading account profits
(1
)
 
(3
)
Interest rate contracts
Other income
18

 
—

Equity compensation contracts
Personnel
109

 
(61
)
 
Loss before income taxes
(421
)
 
(440
)
 
Income tax benefit
(156
)
 
(162
)
 
Net loss
(265
)
 
(278
)
Employee benefit plans:
 
 
 
 
Prior service costs
Personnel
(2
)
 
(7
)
Transition obligation
Personnel
—

 
(16
)
Net actuarial gains (losses)
Personnel
(144
)
 
(229
)
Settlements and curtailments
Personnel
—

 
(62
)
 
Loss before income taxes
(146
)
 
(314
)
 
Income tax benefit
(45
)
 
(115
)
 
Net loss
(101
)
 
(199
)
Foreign currency:
 
 
 
 
Insignificant items
Other income (loss)
(32
)
 
3

 
Income (loss) before income taxes
(32
)
 
3

 
Income tax benefit
(33
)
 
—

 
Net income
1

 
3

Total reclassification adjustments
 
$
(42
)
 
$
224