Accumulated Other Comprehensive Income/(Loss) (Tables)

12 Months Ended

Dec. 31, 2025

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), fair value changes of excluded components on fair value hedges, cash flow hedging activities, net gain/(loss) related to the Firm’s defined benefit pension and OPEB plans, and fair value option-elected liabilities arising from changes in the Firm’s own credit risk (DVA).

Year ended December 31, (in millions)	Unrealized gains/(losses) on investment securities				Translation adjustments, net of hedges			Fair value hedges		Cash flow hedges			Defined benefit pension and OPEB plans			DVA on fair value option elected liabilities			Accumulated other comprehensive income/(loss)
Balance at December 31, 2022		$	(9,124)			$	(1,545)	$	(33)		$	(5,656)		$	(1,451)		$	468		$	(17,341)
Net change		5,381				329		(101)			1,724			373			(808)			6,898
Balance at December 31, 2023		$	(3,743)	(a)		$	(1,216)	$	(134)		$	(3,932)		$	(1,078)		$	(340)		$	(10,443)
Net change		(87)				(858)		(87)			(882)			(63)			(36)			(2,013)
Balance at December 31, 2024		$	(3,830)	(a)		$	(2,074)	$	(221)		$	(4,814)		$	(1,141)		$	(376)		$	(12,456)
Net change		3,569				1,339		64			3,388			579			(773)			8,166
Balance at December 31, 2025		$	(261)	(a)		$	(735)	$	(157)		$	(1,426)		$	(562)		$	(1,149)		$	(4,290)

(a)Included after-tax net unamortized unrealized losses of $(240) million, $(651) million, and $(895) million for the years ended 2025, 2024 and 2023, respectively, related to AFS securities that have been transferred to HTM. As of December 31, 2023, included after-tax net unamortized unrealized losses of $(29) million related to HTM securities that have been transferred to AFS as permitted by the new hedge accounting guidance adopted on January 1, 2023. Refer to Note 10 for further information.

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

The following table presents the pre-tax and after-tax changes in the components of OCI.

	2025						2024						2023
Year ended December 31, (in millions)	Pre-tax		Tax effect		After-tax		Pre-tax		Tax effect		After-tax		Pre-tax		Tax effect		After-tax
Unrealized gains/(losses) on investment securities:
Net unrealized gains/(losses) arising during the period	$	4,646	$	(1,120)	$	3,526	$	(1,135)	$	274	$	(861)	$	3,891	$	(922)	$	2,969
Reclassification adjustment for realized (gains)/losses included in net income(a)	57		(14)		43		1,021		(247)		774		3,180		(768)		2,412
Net change	4,703		(1,134)		3,569		(114)		27		(87)		7,071		(1,690)		5,381
Translation adjustments:(b)
Translation	6,123		(218)		5,905		(4,385)		250		(4,135)		1,714		(95)		1,619
Hedges	(6,042)		1,476		(4,566)		4,322		(1,045)		3,277		(1,697)		407		(1,290)
Net change	81		1,258		1,339		(63)		(795)		(858)		17		312		329
Fair value hedges, net change(c)	84		(20)		64		(115)		28		(87)		(134)		33		(101)
Cash flow hedges:
Net unrealized gains/(losses) arising during the period	2,057		(500)		1,557		(3,742)		904		(2,838)		483		(114)		369
Reclassification adjustment for realized (gains)/losses included in net income(d)	2,406		(575)		1,831		2,579		(623)		1,956		1,775		(420)		1,355
Net change	4,463		(1,075)		3,388		(1,163)		281		(882)		2,258		(534)		1,724
Defined benefit pension and OPEB plans, net change	691		(112)		579		(131)		68		(63)		421		(48)		373
DVA on fair value option elected liabilities, net change	(1,025)		252		(773)		(45)		9		(36)		(1,066)		258		(808)
Total other comprehensive income/(loss)	$	8,997	$	(831)	$	8,166	$	(1,631)	$	(382)	$	(2,013)	$	8,567	$	(1,669)	$	6,898

(a)The pre-tax amount is reported in Investment securities gains/(losses) in the Consolidated statements of income.

(b)Reclassifications of pre-tax realized gains/(losses) on translation adjustments and related hedges are reported in other income/expense in the Consolidated statements of income. During the year ended December 31, 2025, the Firm reclassified a net pre-tax gain of $7 million to other income/expense, of which $14 million gain related to net investment hedges and $(7) million loss related to cumulative translation adjustments. During the year ended December 31, 2024, the Firm reclassified a net pre-tax gain of $7 million. During the year ended December 31, 2023, the Firm reclassified a net pre-tax loss of $(3) million.

(c)Represents changes in fair value of cross-currency swaps attributable to changes in cross-currency basis spreads, which are excluded from the assessment of hedge effectiveness and recorded in other comprehensive income. The initial cost of cross-currency basis spreads is recognized in earnings as part of the accrual of interest on the cross-currency swaps.

(d)The pre-tax amounts are primarily recorded in noninterest revenue, net interest income and compensation expense in the Consolidated statements of income.