Accumulated Other Comprehensive Loss

6 Months Ended

Jun. 30, 2012

Accumulated Other Comprehensive Loss [Abstract]

Accumulated Other Comprehensive Loss

Note 10—Accumulated Other Comprehensive Loss

The following table presents the change in each of the components of accumulated other comprehensive loss and the related tax effect of the change allocated to each component:

(Dollars in millions)	Before Tax Amount			Tax Effect			Net of Tax
For the Six Months Ended June 30, 2011:
Cash flow hedge activities:
Unrealized net losses on hedges arising during the period	$	(7	)	$	3		$	(4	)
Less: Reclassification adjustment for net losses on hedges included in net income		6			(2	)		4
Net change in unrealized losses on hedges		(1	)		1			—
Securities:
Unrealized holding gains arising during the period on securities available for sale		92			(36	)		56
Reclassification adjustment for net gains on securities available for sale included in net income		(57	)		22			(35	)
Less: accretion of fair value adjustment on securities available for sale		(4	)		1			(3	)
Less: accretion of fair value adjustment on held to maturity securities		(14	)		6			(8	)
Less: accretion of net unrealized losses on held to maturity securities		52			(20	)		32
Net change in unrealized losses on securities		69			(27	)		42
Foreign currency translation adjustment		2			(1	)		1
Reclassification adjustment for pension and other benefits included in net income:
Amortization of transition amount		1			—			1
Recognized net actuarial loss		25			(10	)		15
Pension and other benefits		9			(4	)		5
Net change in pension and other benefits		35			(14	)		21
Net change in accumulated other comprehensive loss	$	105		$	(41	)	$	64
For the Six Months Ended June 30, 2012:
Cash flow hedge activities:
Unrealized net gains on hedges arising during the period	$	38		$	(15	)	$	23
Less: Reclassification adjustment for net losses on hedges included in net income		(5	)		2			(3	)
Net change in unrealized losses on hedges		33			(13	)		20
Securities:
Unrealized holding gains arising during the period on securities available for sale		147			(58	)		89
Reclassification adjustment for net gains on securities available for sale included in net income		(47	)		18			(29	)
Less: accretion of fair value adjustment on securities available for sale		(1	)		1			—
Less: accretion of fair value adjustment on held to maturity securities		(14	)		6			(8	)
Less: accretion of net unrealized losses on held to maturity securities		56			(22	)		34
Net change in unrealized losses on securities		141			(55	)		86
Foreign currency translation adjustment		(1	)		1			—
Reclassification adjustment for pension and other benefits included in net income:
Recognized net actuarial loss		49			(19	)		30
Net change in pension and other benefits		49			(19	)		30
Net change in accumulated other comprehensive loss	$	222		$	(86	)	$	136

The following table presents the change in accumulated other comprehensive loss balances:

(Dollars in millions)	Net Unrealized Gains (Losses) on Cash Flow Hedges			Net Unrealized Gains (Losses) on Securities			Foreign Currency Translation Adjustment		Pension and Other Benefits Adjustment			Accumulated Other Comprehensive Loss
Balance, December 31, 2010	$	(21	)	$	(238	)	$	1	$	(419	)	$	(677	)
Change during the period		—			42			1		21			64
Balance, June 30, 2011	$	(21	)	$	(196	)	$	2	$	(398	)	$	(613	)
Balance, December 31, 2011	$	(17	)	$	(107	)	$	—	$	(685	)	$	(809	)
Change during the period		20			86			—		30			136
Balance, June 30, 2012	$	3		$	(21	)	$	—	$	(655	)	$	(673	)