Equity

The following table displays the activity in other comprehensive income (loss), net of tax, by major categories.



	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
	2017			2016			2017			2016
	(Dollars in millions)
Net income	$	3,023		$	3,196		$	8,996		$	7,278
Other comprehensive income (loss), net of tax effect:
Changes in net unrealized gains (losses) on AFS securities (net of tax of $25 and $18, respectively, for the three months ended and net of tax of $36 and $3, respectively, for the nine months ended)	47			33			67			(6		)
Reclassification adjustment for OTTI recognized in net income (net of tax of $1 and $1, respectively, for the three months ended and net of tax of $1 and $12, respectively, for the nine months ended)	1			2			2			22
Reclassification adjustment for gains on AFS securities included in net income (net of tax of $11 and $129, respectively, for the three months ended and net of tax of $62 and $266, respectively, for the nine months ended)	(21		)	(240		)	(115		)	(494		)
Other	(2		)	(2		)	(6		)	(6		)
Total other comprehensive income (loss)	25			(207		)	(52		)	(484		)
Total comprehensive income	$	3,048		$	2,989		$	8,944		$	6,794

The following table displays our accumulated other comprehensive income, net of tax, by major categories.



	As of
	September 30,			December 31,
	2017			2016
	(Dollars in millions)
Net unrealized gains on AFS securities for which we have not recorded OTTI		$	102		$	135
Net unrealized gains on AFS securities for which we have recorded OTTI		568			581
Other		37			43
Accumulated other comprehensive income		$	707		$	759

The table below displays changes in accumulated other comprehensive income, net of tax.



	For the Three Months Ended September 30,																		For the Nine Months Ended September 30,
	2017									2016									2017									2016
	AFS⁽¹⁾			Other			Total			AFS⁽¹⁾			Other			Total			AFS⁽¹⁾			Other			Total			AFS⁽¹⁾			Other			Total
	(Dollars in millions)
Beginning balance	$	643		$	39		$	682		$	1,085		$	45		$	1,130		$	716		$	43		$	759		$	1,358		$	49		$	1,407
Other comprehensive income (loss) before reclassifications	47			—			47			33			—			33			67			—			67			(6		)	—			(6		)
Amounts reclassified from other comprehensive income (loss)	(20		)	(2		)	(22		)	(238		)	(2		)	(240		)	(113		)	(6		)	(119		)	(472		)	(6		)	(478		)
Net other comprehensive income (loss)	27			(2		)	25			(205		)	(2		)	(207		)	(46		)	(6		)	(52		)	(478		)	(6		)	(484		)
Ending balance	$	670		$	37		$	707		$	880		$	43		$	923		$	670		$	37		$	707		$	880		$	43		$	923

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⁽¹⁾	The amounts reclassified from accumulated other comprehensive income 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 “Investment gains, net” in our condensed consolidated statements of operations and comprehensive income.