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Equity
6 Months Ended
Jun. 30, 2013
Equity [Abstract]  
Equity
Equity
The following table displays the activity in other comprehensive income, net of tax, by major categories for the three and six months ended June 30, 2013 and 2012.
 
For the Three Months Ended June 30,
 
For the Six Months Ended June 30,
 
2013
 
2012
 
2013
 
2012
 
(Dollars in millions)
Net income
$
10,095

 
$
5,119

 
$
68,780

 
$
7,837

Other comprehensive income, net of tax effect:
 
 
 
 
 
 
 
Changes in net unrealized gains (losses) on available-for-sale securities (net of tax of $47 and $46, respectively, for the three months ended and net of tax of $396 and $150, respectively, for the six months ended)
88

 
(64
)
 
735

 
255

Reclassification adjustment for other-than-temporary impairments recognized in net income (net of tax of $2 and $210, respectively, for the three months ended and net of tax of $5 and $232, respectively, for the six months ended)
4

 
389

 
10

 
431

Reclassification adjustment for gains on available-for-sale securities included in net income (net of tax of $40 and $3 for the three months ended and net of tax of $43 and $6, respectively, for the six months ended)
(75
)
 
(5
)
 
(80
)
 
(11
)
Other (1)
149

 
8

 
155

 
15

Total other comprehensive income
166

 
328

 
820

 
690

Total comprehensive income
$
10,261

 
$
5,447

 
$
69,600

 
$
8,527

___________
(1) Primarily represents activity from our defined benefit pension plans.
The table below displays changes in accumulated other comprehensive income, net of tax, for the three and six months ended June 30, 2013.
 
For the Three Months Ended June 30, 2013
 
For the Six Months Ended June 30, 2013
 
 Available-for-Sale Securities(1)
 
Other(2)
 
Total
 
 Available-for-Sale Securities(1)
 
Other(2)
 
Total
 
(Dollars in millions)
Beginning balance
 
$
1,582
 
 
 
$
(544
)
 
 
 
$
1,038

 
 
 
$
934
 
 
 
$
(550
)
 
 
 
$
384

 
Other comprehensive income before reclassifications
 
88
 
 
 
145

 
 
 
233

 
 
 
735
 
 
 
145

 
 
 
880

 
Amounts reclassified from other comprehensive income
 
(71
)
 
 
4

 
 
 
(67
)
 
 
 
(70
)
 
 
10

 
 
 
(60
)
 
Net other comprehensive income
 
17
 
 
 
149

 
 
 
166

 
 
 
665
 
 
 
155

 
 
 
820

 
Ending balance
 
$
1,599
 
 
 
$
(395
)
 
 
 
$
1,204

 
 
 
$
1,599
 
 
 
$
(395
)
 
 
 
$
1,204

 
__________
(1) 
The amounts reclassified from AOCI represent the gain or loss recognized in earnings due to a sale of an available-for-sale security or the recognition of a net impairment recognized in earnings.
(2) 
Primarily represents activity from our defined benefit pension plans.
The following table displays reclassifications from accumulated other comprehensive income, including the affected line item in our condensed consolidated statement of operations and comprehensive income for the three and six months ended June 30, 2013.
 
For the Three Months Ended June 30, 2013
 
For the Six Months Ended June 30, 2013
 
 Available-for-Sale Securities
 
Other
 
 Available-for-Sale Securities
 
Other
 
Gross
 
Tax
 
Net
 
Gross
 
Tax
 
Net
 
Gross
 
Tax
 
Net
 
Gross
 
Tax
 
Net
 
(Dollars in millions)
Net other-than-temporary impairments
$
6

 
$
(2
)
 
$
4

 
$

 
$

 
$

 
$
15

 
$
(5
)
 
$
10

 
$

 
$

 
$

Investment gains, net
(115
)
 
40

 
(75
)
 

 

 

 
(123
)
 
43

 
(80
)
 

 

 

Salaries and employee benefits

 

 

 
5

 
(1
)
 
4

 

 

 

 
15

 
(5
)
 
10

Total
$
(109
)
 
$
38

 
$
(71
)
 
$
5

 
$
(1
)
 
$
4

 
$
(108
)
 
$
38

 
$
(70
)
 
$
15

 
$
(5
)
 
$
10