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Accumulated Other Comprehensive (Loss) Income
 3 Months Ended
Mar. 31, 2020
Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Comprehensive Income (Loss) Note Accumulated Other Comprehensive Income (Loss)
The following table presents changes, net of tax, in each component of accumulated other comprehensive income (loss).
($ in millions)
Unrealized (losses) gains on investment securities (a)
 
Translation adjustments and net investment hedges (b)
 
Cash flow hedges (b)
 
Defined benefit pension plans
 
Accumulated other comprehensive income (loss)
Balance at December 31, 2018
$
(481
)
 
$
18

 
$
19

 
$
(95
)
 
$
(539
)
Cumulative effect of changes in accounting principles, net of tax
 
 
 
 
 
 
 
 
 
Adoption of Accounting Standards Update 2017-08 (c)
8

 
—

 
—

 
—

 
8

Balance at January 1, 2019
(473
)
 
18

 
19

 
(95
)
 
(531
)
Net change
315

 
—

 
(8
)
 
(1
)
 
306

Balance at March 31, 2019
$
(158
)
 
$
18

 
$
11

 
$
(96
)
 
$
(225
)
Balance at December 31, 2019
$
208

 
$
19

 
$
2

 
$
(106
)
 
$
123

Net change
453

 
(1
)
 
128

 
3

 
583

Balance at March 31, 2020
$
661

 
$
18

 
$
130

 
$
(103
)
 
$
706


(a)
Represents the after-tax difference between the fair value and amortized cost of our available-for-sale securities portfolio.
(b)
For additional information on derivative instruments and hedging activities, refer to Note 18.
(c)
Refer to the section titled Recently Adopted Accounting Standards in Note 1 to the Consolidated Financial Statements in our 2019 Annual Report on Form 10-K for additional information.
The following tables present the before- and after-tax changes in each component of accumulated other comprehensive income (loss).
Three months ended March 31, 2020 ($ in millions)
Before tax
 
Tax effect
 
After tax
Investment securities
 
 
 
 
 
Net unrealized gains arising during the period
$
702

 
$
(168
)
 
$
534

Less: Net realized gains reclassified to income from continuing operations
105

(a)
(24
)
(b)
81

Net change
597

 
(144
)
 
453

Translation adjustments
 
 
 
 
 
Net unrealized losses arising during the period
(13
)
 
3

 
(10
)
Net investment hedges (c)
 
 
 
 
 
Net unrealized gains arising during the period
12

 
(3
)
 
9

Cash flow hedges (c)
 
 
 
 
 
Net unrealized gains arising during the period
169

 
(41
)
 
128

Defined benefit pension plans
 
 
 
 
 
Net unrealized gains arising during the period
4

 
(1
)
 
3

Other comprehensive income
$
769

 
$
(186
)
 
$
583

(a)
Includes gains reclassified to other gain on investments, net in our Condensed Consolidated Statement of Comprehensive Income.
(b)
Includes amounts reclassified to income tax expense from continuing operations in our Condensed Consolidated Statement of Comprehensive Income.
(c)
For additional information on derivative instruments and hedging activities, refer to Note 18.
Three months ended March 31, 2019 ($ in millions)
Before tax
 
Tax effect
 
After tax
Investment securities
 
 
 
 
 
Net unrealized gains arising during the period
$
421

 
$
(99
)
 
$
322

Less: Net realized gains reclassified to income from continuing operations
9

(a)
(2
)
(b)
7

Net change
412

 
(97
)
 
315

Translation adjustments
 
 
 
 
 
Net unrealized gains arising during the period
2

 
(1
)
 
1

Net investment hedges (c)
 
 
 
 
 
Net unrealized losses arising during the period
(2
)
 
1

 
(1
)
Cash flow hedges (c)
 
 
 
 
 
Net unrealized losses arising during the period
(5
)
 
1

 
(4
)
Less: Net realized gains reclassified to income from continuing operations
5

 
(1
)
 
4

Net change
(10
)
 
2

 
(8
)
Defined benefit pension plans
 
 
 
 
 
Net unrealized losses arising during the period
(1
)
 
—

 
(1
)
Other comprehensive income
$
401

 
$
(95
)
 
$
306

(a)
Includes gains reclassified to other gain (loss) on investments, net in our Condensed Consolidated Statement of Comprehensive Income.
(b)
Includes amounts reclassified to income tax expense from continuing operations in our Condensed Consolidated Statement of Comprehensive Income.
(c)
For additional information on derivative instruments and hedging activities, refer to Note 18.