Comprehensive income (Tables)

3 Months Ended

Mar. 31, 2025

Equity [Abstract]

Components of Other Comprehensive Income (Loss) and Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) to Net Income

The following tables display the components of other comprehensive income (loss) and amounts reclassified from accumulated other comprehensive income (loss) to net income:

(Dollars in millions)	Investment Securities		Cash Flow Hedges		Defined Benefit Plans		Other		Total Amount Before Tax			Income Tax		Net
Balance — January 1, 2025	$	(205)	$	(135)	$	131	$	(10)	$	(219)		$	55	$	(164)
Other comprehensive income (loss) before reclassifications:
Unrealized holding gains, net	197		—		—		—		197			(50)		147
Unrealized gains on cash flow hedges	—		91		—		—		91			(23)		68
Other	—		—		—		1		1			—		1
Total other comprehensive income (loss) before reclassifications	197		91		—		1		289			(73)		216
Amounts reclassified from accumulated other comprehensive income that (increase) decrease net income:
Net yield adjustment from cash flow hedges currently in effect	—		53		—		—		53		(a)	(13)		40
Amortization of actuarial gains	—		—		(2)		—		(2)		(b)	—		(2)
Total other comprehensive income (loss)	197		144		(2)		1		340			(86)		254
Balance — March 31, 2025	$	(8)	$	9	$	129	$	(9)	$	121		$	(31)	$	90
Balance — January 1, 2024	$	(251)	$	(203)	$	(155)	$	(7)	$	(616)		$	157	$	(459)
Other comprehensive income (loss) before reclassifications:
Unrealized holding losses, net	(13)		—		—		—		(13)			2		(11)
Unrealized losses on cash flow hedges	—		(243)		—		—		(243)			60		(183)
Other	—		—		—		(2)		(2)			—		(2)
Total other comprehensive income (loss) before reclassifications	(13)		(243)		—		(2)		(258)			62		(196)
Amounts reclassified from accumulated other comprehensive income that (increase) decrease net income:
Losses realized in net income	1		—		—		—		1			—		1
Net yield adjustment from cash flow hedges currently in effect	—		87		—		—		87		(a)	(21)		66
Amortization of actuarial gains	—		—		(1)		—		(1)		(b)	—		(1)
Total other comprehensive income (loss)	(12)		(156)		(1)		(2)		(171)			41		(130)
Balance — March 31, 2024	$	(263)	$	(359)	$	(156)	$	(9)	$	(787)		$	198	$	(589)

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(a)Included in Interest income in the Consolidated Statement of Income.

(b)Included in Other costs of operations in the Consolidated Statement of Income.

Accumulated Other Comprehensive Income (Loss), Net

Accumulated other comprehensive income (loss), net consisted of the following:

(Dollars in millions)	Investment Securities		Cash Flow Hedges		Defined Benefit Plans		Other		Total
Balance — December 31, 2024	$	(153)	$	(101)	$	98	$	(8)	$	(164)
Net gain (loss) during period	147		108		(2)		1		254
Balance — March 31, 2025	$	(6)	$	7	$	96	$	(7)	$	90