Accumulated Other Comprehensive Income (Loss) (Tables)

12 Months Ended

Dec. 31, 2022

Schedule of the Changes in the Components of Accumulated Other Comprehensive Income (Loss) Balances

The following table presents the changes in the components of AOCI balances for the years ended December 31, 2022, 2021 and 2020:



($ in thousands)	Debt Securities			Cash Flow Hedges		Foreign Currency Translation Adjustments (1)		Total
Balance, December 31, 2019	$	(2,419)		$	—	$	(15,989)	$	(18,408)



Net unrealized gains (losses) arising during the period	63,329			(1,149)		9,297		71,477
Amounts reclassified from AOCI	(8,663)			(81)		—		(8,744)
Changes, net of tax	54,666			(1,230)		9,297		62,733
Balance, December 31, 2020	$	52,247		$	(1,230)	$	(6,692)	$	44,325
Net unrealized (losses) gains arising during the period	(136,846)			866		1,757		(134,223)
Amounts reclassified from AOCI	(1,104)			621		—		(483)
Changes, net of tax	(137,950)			1,487		1,757		(134,706)
Balance, December 31, 2021	$	(85,703)		$	257	$	(4,935)	$	(90,381)
Net unrealized losses arising during the period	(620,870)			(52,623)		(16,348)		(689,841)
Amounts reclassified from AOCI	11,758			2,835		—		14,593
Changes, net of tax	(609,112)			(49,788)		(16,348)		(675,248)
Balance, December 31, 2022	$	(694,815)	(2)	$	(49,531)	$	(21,283)	$	(765,629)

(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 was 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 4 — Securities to the Consolidated Financial Statements in this Form 10-K.

Schedule of Components of Other Comprehensive Income (loss), Reclassifications to Net income and the Related Tax Effects

The following table presents the components of other comprehensive income (loss), reclassifications to net income and the related tax effects for the years ended December 31, 2022, 2021 and 2020:



($ in thousands)	Year Ended December 31,
	2022						2021						2020
	Before - Tax		Tax Effect		Net-of- Tax		Before - Tax		Tax Effect		Net-of- Tax		Before - Tax		Tax Effect		Net-of- Tax
Debt securities:
Net unrealized (losses) gains arising during the period	$	(881,516)	$	260,646	$	(620,870)	$	(194,393)	$	57,547	$	(136,846)	$	89,868	$	(26,539)	$	63,329
Reclassification adjustments:
Net realized gains reclassified into net income (1)	(1,306)		386		(920)		(1,568)		464		(1,104)		(12,299)		3,636		(8,663)
Amortization of unrealized losses on transferred securities (2)	18,000		(5,322)		12,678		—		—		—		—		—		—
Net change	(864,822)		255,710		(609,112)		(195,961)		58,011		(137,950)		77,569		(22,903)		54,666
Cash flow hedges:
Net unrealized (losses) gains arising during the period	(74,069)		21,446		(52,623)		1,210		(344)		866		(1,604)		455		(1,149)
Net realized losses (gains) reclassified into net income (3)	4,004		(1,169)		2,835		868		(247)		621		(113)		32		(81)
Net change	(70,065)		20,277		(49,788)		2,078		(591)		1,487		(1,717)		487		(1,230)
Foreign currency translation adjustments, net of hedges:
Net unrealized (losses) gains arising during the period	(15,059)		(1,289)		(16,348)		463		1,294		1,757		7,398		1,899		9,297
Net change	(15,059)		(1,289)		(16,348)		463		1,294		1,757		7,398		1,899		9,297
Other comprehensive (loss) income	$	(949,946)	$	274,698	$	(675,248)	$	(193,420)	$	58,714	$	(134,706)	$	83,250	$	(20,517)	$	62,733

(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.