Accumulated Other Comprehensive Income/(Loss) (Tables)

6 Months Ended

Jun. 30, 2013

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Accumulated other comprehensive income/(loss)

As of or for the three months ended June 30, 2013	Unrealized gains/(losses) on AFS securities(a)					Translation adjustments, net of hedges				Cash flow hedges				Defined benefit pension and OPEB plans				Accumulated other comprehensive income/(loss)
(in millions)
Balance at April 1, 2013		$	6,228		(b)		$	(108	)		$	58			$	(2,687	)		$	3,491
Net change		(3,091		)	(c)		(38		)		(290		)		64				(3,355		)
Balance at June 30, 2013		$	3,137		(b)		$	(146	)		$	(232	)		$	(2,623	)		$	136
As of or for the three months ended June 30, 2012	Unrealized gains/(losses) on AFS securities(a)					Translation adjustments, net of hedges				Cash flow hedges				Defined benefit pension and OPEB plans				Accumulated other comprehensive income/(loss)
(in millions)
Balance at April 1, 2012		$	5,139		(b)		$	101			$	16			$	(2,611	)		$	2,645
Net change		(325		)	(d)		(189		)		73				68				(373		)
Balance at June 30, 2012		$	4,814		(b)		$	(88	)		$	89			$	(2,543	)		$	2,272

As of or for the six months ended June 30, 2013	Unrealized gains/(losses) on AFS securities(a)					Translation adjustments, net of hedges				Cash flow hedges				Defined benefit pension and OPEB plans				Accumulated other comprehensive income/(loss)
(in millions)
Balance at January 1, 2013		$	6,868		(b)		$	(95	)		$	120			$	(2,791	)		$	4,102
Net change		(3,731		)	(c)		(51		)		(352		)		168				(3,966		)
Balance at June 30, 2013		$	3,137		(b)		$	(146	)		$	(232	)		$	(2,623	)		$	136
As of or for the six months ended June 30, 2012	Unrealized gains/(losses) on AFS securities(a)					Translation adjustments, net of hedges				Cash flow hedges				Defined benefit pension and OPEB plans				Accumulated other comprehensive income/(loss)
(in millions)
Balance at January 1, 2012		$	3,565		(b)		$	(26	)		$	51			$	(2,646	)		$	944
Net change		1,249			(e)		(62		)		38				103				1,328
Balance at June 30, 2012		$	4,814		(b)		$	(88	)		$	89			$	(2,543	)		$	2,272

(a) Represents the after-tax difference between the fair value and amortized cost of securities accounted for as AFS.

(b) Included after-tax unrealized losses not related to credit on debt securities for which credit losses have been recognized in income of $(56) million at January 1, 2012, $(48) million at April 1, 2012, and $(101) million at June 30, 2012. There were no such losses at January 1, 2013, April 1, 2013, and June 30, 2013.

(c) The net change for the three and six months ended June 30, 2013, was primarily related to the decline in fair value of U.S. government agency issued MBS and obligations of U.S. states and municipalities due to market changes, as well as to net realized gains.

(d) The net change for the three months ended June 30, 2012, was primarily due to realization of gains on sales of mortgage-backed securities, non-U.S. government debt and obligations of U.S., state and municipalities, partially offset by market value increases driven by the tightening of spreads.

(e) The net change for the six months ended June 30, 2012, was due primarily to market value increases driven by the tightening of spreads across the portfolio, partially offset by sales of mortgage-backed securities and non-U.S. government debt.

Changes of the components of accumulated other comprehensive income (loss)

The following table presents the pretax and after-tax changes in the components of other comprehensive income/(loss).

	2013									2012
Three months ended June 30, (in millions)	Pretax			Tax effect			After-tax			Pretax			Tax effect			After-tax
Unrealized gains/(losses) on AFS securities:
Net unrealized gains/(losses) arising during the period	$	(4,947	)	$	1,931		$	(3,016	)	$	479		$	(186	)	$	293
Reclassification adjustment for realized (gains)/losses included in net income(a)	(124		)	49			(75		)	(1,014		)	396			(618		)
Net change	(5,071		)	1,980			(3,091		)	(535		)	210			(325		)
Translation adjustments:
Translation(b)	(607		)	223			(384		)	(765		)	282			(483		)
Hedges(b)	571			(225		)	346			480			(186		)	294
Net change	(36		)	(2		)	(38		)	(285		)	96			(189		)
Cash flow hedges:
Net unrealized gains/(losses) arising during the period	(512		)	201			(311		)	128			(51		)	77
Reclassification adjustment for realized (gains)/losses included in net income(c)	34			(13		)	21			(5		)	1			(4		)
Net change	(478		)	188			(290		)	123			(50		)	73
Defined benefit pension and OPEB plans:
Net gains/(losses) arising during the period	37			(15		)	22			32			(13		)	19
Reclassification adjustments included in net income(d):
Amortization of net loss	79			(31		)	48			79			(32		)	47
Prior service costs/(credits)	(11		)	5			(6		)	(10		)	4			(6		)
Foreign exchange and other	(1		)	1			—			12			(4		)	8
Net change	104			(40		)	64			113			(45		)	68
Total other comprehensive income/(loss)	$	(5,481	)	$	2,126		$	(3,355	)	$	(584	)	$	211		$	(373	)

	2013									2012
Six months ended June 30, (in millions)	Pretax			Tax effect			After-tax			Pretax			Tax effect			After-tax
Unrealized gains/(losses) on AFS securities:
Net unrealized gains/(losses) arising during the period	$	(5,462	)	$	2,116		$	(3,346	)	$	3,597		$	(1,403	)	$	2,194
Reclassification adjustment for realized (gains)/losses included in net income(a)	(633		)	248			(385		)	(1,550		)	605			(945		)
Net change	(6,095		)	2,364			(3,731		)	2,047			(798		)	1,249
Translation adjustments:
Translation(b)	(1,034		)	381			(653		)	(305		)	113			(192		)
Hedges(b)	991			(389		)	602			213			(83		)	130
Net change	(43		)	(8		)	(51		)	(92		)	30			(62		)
Cash flow hedges:
Net unrealized gains/(losses) arising during the period	(642		)	252			(390		)	87			(34		)	53
Reclassification adjustment for realized (gains)/losses included in net income(c)	63			(25		)	38			(25		)	10			(15		)
Net change	(579		)	227			(352		)	62			(24		)	38
Defined benefit pension and OPEB plans:
Net gains/(losses) arising during the period	85			(25		)	60			34			(13		)	21
Reclassification adjustments included in net income(d):
Amortization of net loss	160			(62		)	98			162			(64		)	98
Prior service costs/(credits)	(22		)	9			(13		)	(21		)	8			(13		)
Foreign exchange and other	36			(13		)	23			(6		)	3			(3		)
Net change	259			(91		)	168			169			(66		)	103
Total other comprehensive income/(loss)	$	(6,458	)	$	2,492		$	(3,966	)	$	2,186		$	(858	)	$	1,328

(a) The pretax amount is reported in securities gains in the Consolidated Statements of Income.

(b) Reclassifications of pretax realized gains/(losses) on translation adjustments and related hedges are reported in other income in the Consolidated Statements of Income. The amounts were not material for the three and six months ended June 30, 2013.

(c) The pretax amount is reported in the same line as the hedged items, which are predominantly recorded in net interest income in the Consolidated Statements of Income.

(d) The pretax amount is reported in compensation expense in the Consolidated Statements of Income.