Accumulated Other Comprehensive Income

6 Months Ended

Jun. 30, 2020

A reconciliation of the components of accumulated other comprehensive loss at June 30, 2020 and 2019 is as follows:



	June 30
	2020			2019
Investments:
Gross unrealized gains	$	974		$	626
Gross unrealized losses	(229		)	(60		)
Net pre-tax unrealized gains	745			566
Deferred tax liability	(183		)	(130		)
Net unrealized gains on investments	562			436
Non-credit components of impairments on investments:
Unrealized losses	(32		)	(4		)
Deferred tax asset	8			1
Net unrealized non-credit component of impairments on investments	(24		)	(3		)
Cash flow hedges:
Gross unrealized losses	(323		)	(308		)
Deferred tax asset	67			65
Net unrealized losses on cash flow hedges	(256		)	(243		)
Defined benefit pension plans:
Deferred net actuarial loss	(707		)	(738		)
Deferred prior service credits	(1		)	(1		)
Deferred tax asset	181			190
Net unrecognized periodic benefit costs for defined benefit pension plans	(527		)	(549		)
Postretirement benefit plans:
Deferred net actuarial loss	(25		)	(57		)
Deferred prior service costs	16			28
Deferred tax asset	2			7
Net unrecognized periodic benefit costs for postretirement benefit plans	(7		)	(22		)
Foreign currency translation adjustments:
Gross unrealized losses	(3		)	(3		)
Deferred tax asset	1			1
Net unrealized losses on foreign currency translation adjustments	(2		)	(2		)
Accumulated other comprehensive loss	$	(254	)	$	(383	)

Other comprehensive income (loss) reclassification adjustments for the three months ended June 30, 2020 and 2019 are as follows:



	Three Months Ended June 30
	2020			2019
Investments:
Net holding gain on investment securities arising during the period, net of tax expense of ($238) and ($71), respectively	$	741		$	237
Reclassification adjustment for net realized (gain) loss on investment securities, net of tax expense (benefit) of $4 and ($1), respectively	(11		)	1
Total reclassification adjustment on investments	730			238
Non-credit component of impairments on investments:
Non-credit component of impairments on investments, net of tax expense of ($2) and ($0), respectively	10			(1		)
Cash flow hedges:
Holding gain, net of tax expense of ($1) and ($0), respectively	3			—
Other:
Net change in unrecognized periodic benefit costs for defined benefit pension and postretirement benefit plans, net of tax expense of ($4) and ($1), respectively	10			3
Foreign currency translation adjustment, net of tax expense of ($0) and ($0), respectively	1			—
Net gain recognized in other comprehensive income, net of tax expense of ($241) and ($73), respectively	$	754		$	240

Other comprehensive income (loss) reclassification adjustments for the six months ended June 30, 2020 and 2019 are as follows:



	Six Months Ended June 30
	2020			2019
Investments:
Net holding gain on investment securities arising during the period, net of tax expense of ($23) and ($170), respectively	$	33		$	586
Reclassification adjustment for net realized loss on investment securities, net of tax benefit of ($5) and ($2), respectively	8			9
Total reclassification adjustment on investments	41			595
Non-credit component of impairments on investments:
Non-credit component of impairments on investments, net of tax benefit of $7 and $0, respectively	(22		)	(1		)
Cash flow hedges:
Holding gain, net of tax expense of ($2) and ($0), respectively	6			3
Other:
Net change in unrecognized periodic benefit costs for defined benefit pension and postretirement benefit plans, net of tax expense of ($7) and ($2), respectively	17			6
Net gain recognized in other comprehensive income, net of tax expense of ($30) and ($174), respectively	$	42		$	603