Accumulated Other Comprehensive Income (Loss) (Tables)

3 Months Ended

Mar. 31, 2023

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

The following table presents the changes in the components of AOCI balances for the three months ended March 31, 2023 and 2022:



($ in thousands)	Debt Securities (1)		Cash Flow Hedges		Foreign Currency Translation Adjustments (2)		Total
Balance, January 1, 2022	$	(85,703)	$	257	$	(4,935)	$	(90,381)
Net unrealized (losses) gains arising during the period	(281,361)		(23,227)		129		(304,459)
Amounts reclassified from AOCI	1,411		(1,496)		—		(85)
Changes, net of tax	(279,950)		(24,723)		129		(304,544)
Balance, March 31, 2022	$	(365,653)	$	(24,466)	$	(4,806)	$	(394,925)

Balance, January 1, 2023	$	(694,815)	$	(49,531)	$	(21,283)	$	(765,629)
Net unrealized gains arising during the period	44,275		21,086		2,941		68,302
Amounts reclassified from AOCI	9,806		7,527		—		17,333
Changes, net of tax	54,081		28,613		2,941		85,635
Balance, March 31, 2023	$	(640,734)	$	(20,918)	$	(18,342)	$	(679,994)

(1)Includes after-tax unamortized losses related to AFS debt securities that were transferred to HTM in 2022.

(2)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.

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 three months ended March 31, 2023 and 2022:



	Three Months Ended March 31,
	2023							2022
($ in thousands)	Before-Tax			Tax Effect		Net-of-Tax		Before-Tax		Tax Effect		Net-of-Tax
Debt securities:
Net unrealized gains (losses) arising during the period	$	62,860		$	(18,585)	$	44,275	$	(399,462)	$	118,101	$	(281,361)
Reclassification adjustments:
Net realized losses (gains) reclassified into net income (1)	10,000		(2)	(2,956)		7,044		(1,278)		378		(900)
Amortization of unrealized losses on transferred securities (3)	3,921			(1,159)		2,762		3,281		(970)		2,311
Net change	76,781			(22,700)		54,081		(397,459)		117,509		(279,950)
Cash flow hedges:
Net unrealized gains (losses) arising during the period	29,843			(8,757)		21,086		(32,609)		9,382		(23,227)
Net realized losses (gains) reclassified into net income (4)	10,644			(3,117)		7,527		(2,100)		604		(1,496)
Net change	40,487			(11,874)		28,613		(34,709)		9,986		(24,723)
Foreign currency translation adjustments, net of hedges:
Net unrealized gains (losses) arising during the period	2,626			315		2,941		(322)		451		129
Net change	2,626			315		2,941		(322)		451		129
Other comprehensive income (loss)	$	119,894		$	(34,259)	$	85,635	$	(432,490)	$	127,946	$	(304,544)

(1)Pre-tax amounts were reported in Net realized (losses) gains on AFS debt securities on the Consolidated Statement of Income.

(2)Represents the full write-off of an impaired subordinated debt security during the first quarter of 2023.

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

(4)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.