Equity

The following table displays the activity in other comprehensive income (“OCI”), net of tax, by major categories for the three and six months ended June 30, 2014 and 2013.



	For the Three Months Ended June 30,						For the Six Months Ended June 30,
	2014			2013			2014			2013
	(Dollars in millions)
Net income	$	3,667		$	10,095		$	8,992		$	68,780
Other comprehensive income, net of tax effect:
Changes in net unrealized gains on AFS securities (net of tax of $119 and $47, respectively, for the three months ended and net of tax of $303 and $396, respectively, for the six months ended)	221			88			561			735
Reclassification adjustment for OTTI recognized in net income (net of tax of $8 and $2, respectively, for the three months ended and net of tax of $26 and $5, respectively, for the six months ended)	15			4			48			10
Reclassification adjustment for gains on AFS securities included in net income (net of tax of $104 and $40, respectively, for the three months ended and net of tax of $104 and $43, respectively, for the six months ended)	(191		)	(75		)	(192		)	(80		)
Other	—			149			—			155
Total other comprehensive income	45			166			417			820
Total comprehensive income	$	3,712		$	10,261		$	9,409		$	69,600

The following table displays our accumulated other comprehensive income (“AOCI”) by major categories as of June 30, 2014 and December 31, 2013.



		As of
	June 30,				December 31,
	2014				2013
	(Dollars in millions)
Net unrealized gains on AFS securities for which we have not recorded OTTI, net of tax		$	561			$	365
Net unrealized gains on AFS securities for which we have recorded OTTI, net of tax		1,483				1,262
Prior service cost and actuarial losses, net of amortization, net of tax		(395		)		(395		)
Other losses		(29		)		(29		)
Accumulated other comprehensive income		$	1,620			$	1,203

The table below displays changes in accumulated other comprehensive income, net of tax, for the three and six months ended June 30, 2014 and 2013.



	For the Three Months Ended June 30,																				For the Six Months Ended June 30,
	2014										2013										2014										2013
	AFS⁽¹⁾				Other			Total			AFS⁽¹⁾				Other⁽²⁾			Total			AFS⁽¹⁾				Other			Total			AFS⁽¹⁾				Other⁽²⁾			Total
		(Dollars in millions)
Beginning balance		$	1,999		$	(424	)	$	1,575			$	1,582		$	(544	)	$	1,038			$	1,627		$	(424	)	$	1,203			$	934		$	(550	)	$	384
OCI before reclassifications		221			—			221				88			145			233				561			—			561				735			145			880
Amounts reclassified from OCI		(176		)	—			(176		)		(71		)	4			(67		)		(144		)	—			(144		)		(70		)	10			(60		)
Net OCI		45			—			45				17			149			166				417			—			417				665			155			820
Ending balance		$	2,044		$	(424	)	$	1,620			$	1,599		$	(395	)	$	1,204			$	2,044		$	(424	)	$	1,620			$	1,599		$	(395	)	$	1,204

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⁽¹⁾	The amounts reclassified from AOCI represent the gain or loss recognized in earnings due to a sale of an AFS security or the recognition of a net impairment recognized in earnings, which are recorded in “Investments gains, net” and “Net other-than-temporary impairments,” respectively, in our condensed consolidated statements of operations.


⁽²⁾	The amounts reclassified from AOCI represent activity from our defined benefit pension plans, which is recorded in “Salaries and employee benefits” in our condensed consolidated statements of operations.