Accumulated Other Comprehensive Loss (Tables)

12 Months Ended

Dec. 31, 2019

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

Schedule Of Accumulated Other Comprehensive Income (Loss)

The following table presents a reconciliation of the changes in the components of accumulated other comprehensive loss and details the components of other comprehensive income (loss) for the years ended December 31, 2019, 2018 and 2017, including the amount of income tax expense (benefit) allocated to each component of other comprehensive income (loss).

(in millions)
Years Ended December 31	2019			2018			2017
Accumulated net unrealized gains (losses) on investment securities:
Balance at beginning of period, net of tax	$	(138	)	$	(101	)	$	(33	)
Cumulative effect of change in accounting principle	—			1			—
Net unrealized holding gains (losses) arising during the period	257			(69		)	(81		)
Less: Provision (benefit) for income taxes	60			(16		)	(27		)
Net unrealized holding gains (losses) arising during the period, net of tax	197			(53		)	(54		)
Less:
Net realized losses included in net securities losses	(8		)	(20		)	—
Less: Benefit for income taxes	(2		)	(5		)	—
Reclassification adjustment for net securities losses included in net income, net of tax	(6		)	(15		)	—
Less:
Net losses realized as a yield adjustment in interest on investment securities	—			—			(3		)
Less: Benefit for income taxes	—			—			(1		)
Reclassification adjustment for net losses realized as a yield adjustment included in net income, net of tax	—			—			(2		)
Change in net unrealized gains (losses) on investment securities, net of tax	203			(38		)	(52		)
Reclassification of certain deferred tax effects (a)	—			—			(16		)
Balance at end of period, net of tax	$	65		$	(138	)	$	(101	)
Accumulated net gains on cash flow hedges:
Balance at beginning of period, net of tax	$	—		$	—		$	—
Net cash flow hedge gains arising during the period	44			—			—
Less: Provision for income taxes	10			—			—
Change in net cash flow hedge gains, net of tax	34			—			—
Balance at end of period, net of tax (b)	$	34		$	—		$	—
Accumulated defined benefit pension and other postretirement plans adjustment:
Balance at beginning of period, net of tax	$	(471	)	$	(350	)	$	(350	)
Actuarial gain (loss) arising during the period	163			(191		)	72
Less: Provision (benefit) for income taxes	38			(44		)	17
Net defined benefit pension and other postretirement adjustment arising during the period, net of tax	125			(147		)	55
Amounts recognized in other noninterest expense:
Amortization of actuarial net loss	42			61			51
Amortization of prior service credit	(27		)	(27		)	(27		)
Total amounts recognized in other noninterest expense	15			34			24
Less: Provision for income taxes	3			8			8
Adjustment for amounts recognized as other components of net benefit cost during the period, net of tax	12			26			16
Change in defined benefit pension and other postretirement plans adjustment, net of tax	137			(121		)	71
Reclassification of certain deferred tax effects (a)	—			—			(71		)
Balance at end of period, net of tax	$	(334	)	$	(471	)	$	(350	)
Total accumulated other comprehensive loss at end of period, net of tax	$	(235	)	$	(609	)	$	(451	)

(a) Amounts reclassified to retained earnings due to early adoption of ASU 2018-02. For further information, refer to Note 1.

(b)

The corporation expects to reclassify $12 million of net gains, net of tax, from accumulated other comprehensive loss to earnings over the next twelve months if interest yield curves and notional amounts remain at December 31, 2019 levels.