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Accumulated Other Comprehensive Income
 3 Months Ended
Mar. 31, 2020
Equity [Abstract]  
Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income
The following tables present the change in each of the components of accumulated other comprehensive income and the related tax effect of the change allocated to each component for the three months ended March 31, 2020 and 2019.
 
 
 
 
 
 
 

 
 
 
 
 
 
 

(Dollars in millions)
 
Before
Tax
Amount
 
Tax
Effect
 
Net of
Tax
For the Three Months Ended March 31, 2020
 
 
 
 
 
 
Cash flow hedge activities:
 
 
 
 
 
 
Unrealized net gains (losses) on hedges arising during the period
 
$
423

 
$
(111
)
 
$
312

Reclassification adjustment for net (gains) losses on hedges included in interest income for loans and interest expense on long-term debt           
 
19

 
(5
)
 
14

Net change
 
442

 
(116
)
 
326

Securities:
 
 
 
 
 
 
Unrealized holding gains (losses) arising during the period on securities available for sale
 
396

 
(104
)
 
292

Reclassification adjustment for net (gains) losses on securities available for sale included in securities gains, net
 
(53
)
 
14

 
(39
)
Amortization of net unrealized (gains) losses on held to maturity securities
 
7

 
(2
)
 
5

Net change
 
350

 
(92
)
 
258

Pension and other benefits:
 
 
 
 
 
 
Amortization of prior service credit(1)
 
(7
)
 
2

 
(5
)
Recognized net actuarial (gain) loss(1)
 
28

 
(7
)
 
21

Pension and other benefits arising during the year
 
 
 
 
 
 
Net change
 
21

 
(5
)
 
16

Net change in AOCI
 
$
813

 
$
(213
)
 
$
600


 
 
(1)
These amounts are included in the computation of net periodic pension cost. For further information, see Note 11 to these Consolidated Financial Statements.
(Dollars in millions)
 
Before
Tax
Amount
 
Tax
Effect
 
Net of
Tax
For the Three Months Ended March 31, 2019
 
 
 
 
 
 
Cash flow hedge activities:
 
 
 
 
 
 
Unrealized net gains (losses) on hedges arising during the period
 
$
14

 
$
(4
)
 
$
10

Reclassification adjustment for net (gains) losses on hedges included in interest income for loans and interest expense on long-term debt           
 
19

 
(5
)
 
14

Net change
 
33

 
(9
)
 
24

Securities:
 
 
 
 
 
 
Unrealized holding gains (losses) arising during the period on securities available for sale
 
200

 
(52
)
 
148

Reclassification adjustment for net (gains) losses on securities available for sale included in securities gains, net
 
(1
)
 
—

 
(1
)
Amortization of net unrealized (gains) losses on held to maturity securities
 
7

 
(2
)
 
5

Net change
 
206

 
(54
)
 
152

Pension and other benefits:
 
 
 
 
 
 
Amortization of prior service credit (1)
 
(10
)
 
3

 
(7
)
Recognized net actuarial (gain) loss(1)
 
18

 
(5
)
 
13

Net change
 
8

 
(2
)
 
6

Other
 
2

 
(1
)
 
1

Net change in AOCI
 
$
249

 
$
(66
)
 
$
183


 
 

(1)
These amounts are included in the computation of net periodic pension cost. For additional information, see Note 11 to these Consolidated Financial Statements.
The following table presents the change in accumulated other comprehensive loss balances.
For the Three Months Ended March 31, 2019 and 2020:
 
 
Net Unrealized
Gains (Losses) on Cash Flow Hedges
 
Net
Unrealized
Gains (Losses)
on Securities
 
Foreign
Currency
Translation
Adjustment
 
Pension and
Other Postretirement
Benefits
Adjustment
 
Other
 
Accumulated
Other
Comprehensive
Income (Loss)
(Dollars in millions)
 
 
 
 
 
 
Balance, December 31, 2018
 
$
(220
)
 
$
(373
)
 
$
—

 
$
(730
)
 
$
(1
)
 
$
(1,324
)
Other comprehensive income (loss) before reclassifications
 
10

 
148

 
—

 
—

 
1

 
159

Amounts reclassified from AOCI
 
14

 
4

 
—

 
6

 
—

 
24

Balance, March 31, 2019
 
$
(196
)
 
$
(221
)
 
$
—

 
$
(724
)
 
$
—

 
$
(1,141
)
Balance, December 31, 2019
 
$
(115
)
 
$
(93
)
 
$
—

 
$
(654
)
 
$
—

 
$
(862
)
Other comprehensive income (loss) before reclassifications
 
312

 
292

 
—

 
—

 
—

 
604

Amounts reclassified from AOCI
 
14

 
(34
)
 
—

 
16

 
—

 
(4
)
Balance, March 31, 2020
 
$
211

 
$
165

 
$
—

 
$
(638
)
 
$
—

 
$
(262
)