Accumulated other comprehensive income/(loss) (Tables)

9 Months Ended

Sep. 30, 2015

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

Accumulated other comprehensive income/(loss)

AOCI includes the after-tax change in unrealized gains and losses on investment securities, foreign currency translation adjustments (including the impact of related derivatives), cash flow hedging activities, and net loss and prior service costs/(credit) related to the Firm’s defined benefit pension and OPEB plans.

As of or for the three months ended September 30, 2015	Unrealized gains/(losses) on investment 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 July 1, 2015		$	3,443			$	(154	)		$	62			$	(2,249	)		$	1,102
Net change		(291		)		(5		)		(106		)		51				(351		)
Balance at September 30, 2015		$	3,152			$	(159	)		$	(44	)		$	(2,198	)		$	751
As of or for the three months ended September 30, 2014	Unrealized gains/(losses) on investment 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 July 1, 2014		$	4,867			$	(126	)		$	(12	)		$	(1,291	)		$	3,438
Net change		(141		)		3				(58		)		24				(172		)
Balance at September 30, 2014		$	4,726			$	(123	)		$	(70	)		$	(1,267	)		$	3,266

As of or for the nine months ended September 30, 2015	Unrealized gains/(losses) on investment 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, 2015		$	4,773			$	(147	)		$	(95	)		$	(2,342	)		$	2,189
Net change		(1,621		)		(12		)		51				144				(1,438		)
Balance at September 30, 2015		$	3,152			$	(159	)		$	(44	)		$	(2,198	)		$	751
As of or for the nine months ended September 30, 2014	Unrealized gains/(losses) on investment 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, 2014		$	2,798			$	(136	)		$	(139	)		$	(1,324	)		$	1,199
Net change		1,928				13				69				57				2,067
Balance at September 30, 2014		$	4,726			$	(123	)		$	(70	)		$	(1,267	)		$	3,266

(a) Represents the after-tax difference between the fair value and amortized cost of securities accounted for as AFS; including, as of the date of transfer during the first quarter of 2014, $9 million of net unrealized losses related to AFS securities that were transferred to HTM. Subsequent to transfer, includes any net unamortized unrealized gains and losses related to the transferred securities.

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).

	2015									2014
Three months ended September 30, (in millions)	Pretax			Tax effect			After-tax			Pretax			Tax effect			After-tax
Unrealized gains/(losses) on investment securities:
Net unrealized gains/(losses) arising during the period	$	(430	)	$	160		$	(270	)	$	(283	)	$	146		$	(137	)
Reclassification adjustment for realized (gains)/losses included in net income(a)	(33		)	12			(21		)	(6		)	2			(4		)
Net change	(463		)	172			(291		)	(289		)	148			(141		)
Translation adjustments:
Translation(b)	(912		)	340			(572		)	(1,133		)	416			(717		)
Hedges(b)	908			(341		)	567			1,185			(465		)	720
Net change	(4		)	(1		)	(5		)	52			(49		)	3
Cash flow hedges:
Net unrealized gains/(losses) arising during the period	(175		)	66			(109		)	(66		)	27			(39		)
Reclassification adjustment for realized (gains)/losses included in net income(c)	5			(2		)	3			(31		)	12			(19		)
Net change	(170		)	64			(106		)	(97		)	39			(58		)
Defined benefit pension and OPEB plans:
Net gains/(losses) arising during the period	—			—			—			(1		)	—			(1		)
Reclassification adjustments included in net income(d):
Amortization of net loss	71			(27		)	44			18			(8		)	10
Prior service costs/(credits)	(9		)	3			(6		)	(10		)	4			(6		)
Foreign exchange and other	20			(7		)	13			34			(13		)	21
Net change	82			(31		)	51			41			(17		)	24
Total other comprehensive income/(loss)	$	(555	)	$	204		$	(351	)	$	(293	)	$	121		$	(172	)
	2015									2014
Nine months ended September 30, (in millions)	Pretax			Tax effect			After-tax			Pretax			Tax effect			After-tax
Unrealized gains/(losses) on investment securities:
Net unrealized gains/(losses) arising during the period	$	(2,548	)	$	1,008		$	(1,540	)	$	3,116		$	(1,158	)	$	1,958
Reclassification adjustment for realized (gains)/losses included in net income(a)	(129		)	48			(81		)	(48		)	18			(30		)
Net change	(2,677		)	1,056			(1,621		)	3,068			(1,140		)	1,928
Translation adjustments:
Translation(b)	(1,645		)	601			(1,044		)	(761		)	274			(487		)
Hedges(b)	1,651			(619		)	1,032			823			(323		)	500
Net change	6			(18		)	(12		)	62			(49		)	13
Cash flow hedges:
Net unrealized gains/(losses) arising during the period	(104		)	38			(66		)	149			(60		)	89
Reclassification adjustment for realized (gains)/losses included in net income(c)(e)	187			(70		)	117			(33		)	13			(20		)
Net change	83			(32		)	51			116			(47		)	69
Defined benefit pension and OPEB plans:
Net gains/(losses) arising during the period	101			(39		)	62			87			(34		)	53
Reclassification adjustments included in net income(d):
Amortization of net loss	212			(80		)	132			55			(23		)	32
Prior service costs/(credits)	(27		)	10			(17		)	(32		)	13			(19		)
Foreign exchange and other	20			(53		)	(33		)	15			(24		)	(9		)
Net change	306			(162		)	144			125			(68		)	57
Total other comprehensive income/(loss)	$	(2,282	)	$	844		$	(1,438	)	$	3,371		$	(1,304	)	$	2,067

(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/expense in the Consolidated statements of income. The amounts were not material for the periods presented.

(c) The pretax amounts 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.

(e) In the first quarter of 2015, the Firm reclassified approximately $150 million of net losses from AOCI to other income because the Firm determined that it is probable that the forecasted interest payment cash flows will not occur. For additional information, see Note 5.