Accumulated Other Comprehensive Income (Loss) (Tables)

9 Months Ended

Sep. 30, 2022

Schedule Of The Changes In Components Of Accumulated Other Comprehensive Income (Loss) Balances

The following tables present the changes in the components of AOCI balances for the three and nine months ended September 30, 2022 and 2021:



($ in thousands)	Debt Securities			Cash Flow Hedges		Foreign Currency Translation Adjustments (1)		Total
Balance, July 1, 2021	$	(8,152)		$	(730)	$	(5,807)	$	(14,689)
Net unrealized losses arising during the period	(40,928)			(121)		(1,752)		(42,801)
Amounts reclassified from AOCI	(250)			172		—		(78)
Changes, net of tax	(41,178)			51		(1,752)		(42,879)
Balance, September 30, 2021	$	(49,330)		$	(679)	$	(7,559)	$	(57,568)

Balance, July 1, 2022	$	(554,781)		$	(30,846)	$	(15,021)	$	(600,648)
Net unrealized losses arising during the period	(161,445)			(34,423)		(7,926)		(203,794)
Amounts reclassified from AOCI	3,256			1,154		—		4,410
Changes, net of tax	(158,189)			(33,269)		(7,926)		(199,384)
Balance, September 30, 2022	$	(712,970)	(2)	$	(64,115)	$	(22,947)	$	(800,032)



($ in thousands)	Debt Securities			Cash Flow Hedges		Foreign Currency Translation Adjustments (1)		Total
Balance, January 1, 2021	$	52,247		$	(1,230)	$	(6,692)	$	44,325
Net unrealized (losses) gains arising during the period	(100,747)			108		(867)		(101,506)
Amounts reclassified from AOCI	(830)			443		—		(387)
Changes, net of tax	(101,577)			551		(867)		(101,893)
Balance, September 30, 2021	$	(49,330)		$	(679)	$	(7,559)	$	(57,568)

Balance, January 1, 2022	$	(85,703)		$	257	$	(4,935)	$	(90,381)
Net unrealized losses arising during the period	(635,664)			(63,232)		(18,012)		(716,908)
Amounts reclassified from AOCI	8,397			(1,140)		—		7,257
Changes, net of tax	(627,267)			(64,372)		(18,012)		(709,651)
Balance, September 30, 2022	$	(712,970)	(2)	$	(64,115)	$	(22,947)	$	(800,032)

(1)Represents foreign currency translation adjustments related to the Company’s net investment in non-U.S. operations, including related hedges. The functional currency and reporting currency of the Company’s foreign subsidiary is RMB and USD, respectively.

(2)Includes after-tax unamortized losses of $113.0 million related to AFS debt securities that were transferred to HTM. For further information, refer to Note 5 — Securities to the Consolidated Financial Statements in this Form 10-Q.

Schedule Of Components Of Other Comprehensive Income (Loss), Reclassifications To Net Income And The Related Tax Effects

The following tables present the components of other comprehensive income (loss), reclassifications to net income and the related tax effects for the three and nine months ended September 30, 2022 and 2021:



($ in thousands)	Three Months Ended September 30,
	2022						2021
	Before-Tax		Tax Effect		Net-of-Tax		Before-Tax		Tax Effect		Net-of-Tax
Debt securities:
Net unrealized losses arising during the period	$	(229,246)	$	67,801	$	(161,445)	$	(58,138)	$	17,210	$	(40,928)
Reclassification adjustments:
Net realized gains reclassified into net income (1)	—		—		—		(354)		104		(250)
Amortization of unrealized losses on transferred securities (2)	4,623		(1,367)		3,256		—		—		—
Net change	(224,623)		66,434		(158,189)		(58,492)		17,314		(41,178)
Cash flow hedges:
Net unrealized losses arising during the period	(48,325)		13,902		(34,423)		(170)		49		(121)
Net realized losses reclassified into net income (3)	1,619		(465)		1,154		241		(69)		172
Net change	(46,706)		13,437		(33,269)		71		(20)		51
Foreign currency translation adjustments, net of hedges:
Net unrealized losses arising during the period	(6,676)		(1,250)		(7,926)		(1,878)		126		(1,752)
Net change	(6,676)		(1,250)		(7,926)		(1,878)		126		(1,752)
Other comprehensive loss	$	(278,005)	$	78,621	$	(199,384)	$	(60,299)	$	17,420	$	(42,879)



($ in thousands)	Nine Months Ended September 30,
	2022						2021
	Before-Tax		Tax Effect		Net-of-Tax		Before-Tax		Tax Effect		Net-of-Tax
Debt securities:
Net unrealized losses arising during the period	$	(902,548)	$	266,884	$	(635,664)	$	(143,131)	$	42,384	$	(100,747)
Reclassification adjustments:
Net realized gains reclassified into net income (1)	(1,306)		386		(920)		(1,178)		348		(830)
Amortization of unrealized losses on transferred securities (2)	13,228		(3,911)		9,317		—		—		—
Net change	(890,626)		263,359		(627,267)		(144,309)		42,732		(101,577)
Cash flow hedges:
Net unrealized (losses) gains arising during the period	(88,771)		25,539		(63,232)		150		(42)		108
Net realized (gains) losses reclassified into net income (3)	(1,601)		461		(1,140)		619		(176)		443
Net change	(90,372)		26,000		(64,372)		769		(218)		551
Foreign currency translation adjustments, net of hedges:
Net unrealized losses arising during the period	(16,276)		(1,736)		(18,012)		(1,603)		736		(867)
Net change	(16,276)		(1,736)		(18,012)		(1,603)		736		(867)
Other comprehensive loss	$	(997,274)	$	287,623	$	(709,651)	$	(145,143)	$	43,250	$	(101,893)

(1)Pre-tax amounts were reported in Gains on sales of AFS debt securities on the Consolidated Statement of Income.

(2)Represents unrealized losses amortized over the remaining lives of securities that were transferred from the AFS to HTM portfolio.

(3)Pre-tax amounts related to cash flow hedges on CRE loans and long-term borrowings were reported in Interest and dividend income and in Interest expense, respectively, on the Consolidated Statement of Income.