Accumulated Other Comprehensive Income

12 Months Ended

Dec. 31, 2024

The tables below present the activity of the components of OCI and AOCI for the years ended December 31:


	Total OCI				Total AOCI
2024 ($ in millions)	Pre-tax Activity		Tax Effect	Net Activity	Beginning Balance	Net Activity	Ending Balance
Unrealized holding gains on available-for-sale debt securities arising during the year	$	27	(12)	15
Unrealized losses on available-for-sale debt securities transferred to held-to-maturity securities	994		(209)	785
Reclassification adjustment for net losses on available-for-sale debt securities included in net income	18		(4)	14
Net unrealized losses on available-for-sale debt securities	1,039		(225)	814	(4,094)	814	(3,280)

Unrealized losses on available-for-sale debt securities transferred to held-to-maturity securities	(994)		209	(785)
Amortization of unrealized losses on available-for-sale debt securities transferred to held-to-maturity securities included in net income	129		(28)	101
Net unrealized losses on available-for-sale debt securities transferred to held-to-maturity securities	(865)		181	(684)	—	(684)	(684)

Unrealized holding losses on cash flow hedge derivatives arising during the year	(724)		172	(552)
Reclassification adjustment for net losses on cash flow hedge derivatives included in net income	351		(81)	270
Net unrealized losses on cash flow hedge derivatives	(373)		91	(282)	(372)	(282)	(654)

Net actuarial loss arising during the year	(2)		—	(2)
Reclassification of amounts to net periodic benefit costs	3		—	3
Defined benefit pension plans, net	1		—	1	(17)	1	(16)

Other	2		—	2	(4)	2	(2)
Total	$	(196)	47	(149)	(4,487)	(149)	(4,636)


	Total OCI				Total AOCI
2023 ($ in millions)	Pre-tax Activity		Tax Effect	Net Activity	Beginning Balance	Net Activity	Ending Balance
Unrealized holding gains on available-for-sale debt securities arising during the year	$	656	(162)	494
Reclassification adjustment for net losses on available-for-sale debt securities included in net income	1		—	1
Net unrealized losses on available-for-sale debt securities	657		(162)	495	(4,589)	495	(4,094)

Unrealized holding losses on cash flow hedge derivatives arising during the year	(171)		40	(131)
Reclassification adjustment for net losses on cash flow hedge derivatives included in net income	334		(77)	257
Net unrealized losses on cash flow hedge derivatives	163		(37)	126	(498)	126	(372)

Net actuarial loss arising during the year	(1)		—	(1)
Reclassification of amounts to net periodic benefit costs	4		(1)	3
Defined benefit pension plans, net	3		(1)	2	(19)	2	(17)

Other	—		—	—	(4)	—	(4)
Total	$	823	(200)	623	(5,110)	623	(4,487)


	Total OCI				Total AOCI
2022 ($ in millions)	Pre-tax Activity		Tax Effect	Net Activity	Beginning Balance	Net Activity	Ending Balance
Unrealized holding losses on available-for-sale debt securities arising during the year	$	(7,194)	1,716	(5,478)
Reclassification adjustment for net gains on available-for-sale debt securities included in net income	(2)		—	(2)
Net unrealized losses on available-for-sale debt securities	(7,196)		1,716	(5,480)	891	(5,480)	(4,589)

Unrealized holding losses on cash flow hedge derivatives arising during the year	(1,006)		232	(774)
Reclassification adjustment for net gains on cash flow hedge derivatives included in net income	(99)		22	(77)
Net unrealized losses on cash flow hedge derivatives	(1,105)		254	(851)	353	(851)	(498)

Net actuarial gain arising during the year	11		(2)	9
Reclassification of amounts to net periodic benefit costs	6		(1)	5
Defined benefit pension plans, net	17		(3)	14	(33)	14	(19)

Other	—		—	—	(4)	—	(4)
Total	$	(8,284)	1,967	(6,317)	1,207	(6,317)	(5,110)

The table below presents reclassifications out of AOCI for the years ended December 31:


($ in millions)	Consolidated Statements of Income Caption	2024		2023	2022
Net unrealized losses on available-for-sale debt securities:(a)
Net (losses) gains included in net income	Securities gains (losses), net	$	(18)	(1)	2
	Income before income taxes	(18)		(1)	2
	Applicable income tax expense	4		—	—
	Net income	(14)		(1)	2
Net unrealized losses on available-for-sale debt securities transferred to held-to-maturity securities:(a)
Net losses included in net income	Interest on securities	(129)		—	—
	Income before income taxes	(129)		—	—
	Applicable income tax expense	28		—	—
	Net income	(101)		—	—
Net unrealized losses on cash flow hedge derivatives:(a)
Interest rate contracts related to C&I, commercial mortgage and commercial construction loans	Interest and fees on loans and leases	(351)		(334)	99
	Income before income taxes	(351)		(334)	99
	Applicable income tax expense	81		77	(22)
	Net income	(270)		(257)	77
Net periodic benefit costs:(a)
Amortization of net actuarial loss	Compensation and benefits(b)	(2)		(2)	(3)
Settlements	Compensation and benefits(b)	(1)		(2)	(3)
	Income before income taxes	(3)		(4)	(6)
	Applicable income tax expense	—		1	1
	Net income	(3)		(3)	(5)
Other:(a)
Net losses included in net income	Other noninterest expense	(2)		—	—
	Income before income taxes	(2)		—	—
	Applicable income tax expense	—		—	—
	Net income	(2)		—	—

Total reclassifications for the period	Net income	$	(390)	(261)	74

(a)Amounts in parentheses indicate reductions to net income.

(b)This AOCI component is included in the computation of net periodic benefit cost. Refer to Note 22 for information on the computation of net periodic benefit cost.