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Accumulated Other Comprehensive Loss
 3 Months Ended
Mar. 31, 2023
Equity [Abstract]  
Accumulated Other Comprehensive Loss Accumulated Other Comprehensive Loss
The following table presents changes, net of tax, in each component of accumulated other comprehensive loss.
($ in millions)
Unrealized losses on investment securities (a)Translation adjustments and net investment hedges (b)Cash flow hedges (b)Defined benefit pension plans (c)Accumulated other comprehensive loss
Balance at January 1, 2022$(95)$19 $35 $(117)$(158)
Net change(1,631)1 (5)2 (1,633)
Balance at March 31, 2022$(1,726)$20 $30 $(115)$(1,791)
Balance at January 1, 2023$(4,095)$18 $18 $— $(4,059)
Net change284 — (1)— 283 
Balance at March 31, 2023$(3,811)$18 $17 $— $(3,776)
(a)Represents the after-tax difference between the fair value and amortized cost of our available-for-sale securities portfolio. Refer to Note 6 for additional information.
(b)For additional information on derivative instruments and hedging activities, refer to Note 18.
(c)During 2022, we settled our qualified defined benefit pension plan. Refer to Note 18 to the Consolidated Financial Statements in our 2022 Annual Report on Form 10-K for additional information.
The following tables present the before- and after-tax changes in each component of accumulated other comprehensive loss.
Three months ended March 31, 2023 ($ in millions)
Before taxTax effectAfter tax
Investment securities
Net unrealized gains arising during the period$377 $(89)$288 
Less: Net realized gains reclassified to income from continuing operations5 (a)(1)(b)4 
Net change372 (88)284 
Cash flow hedges (c)
Net unrealized gains arising during the period4 (1)3 
Less: Net realized gains reclassified to income from continuing operations5 (d)(1)(b)4 
Net change(1)— (1)
Other comprehensive income$371 $(88)$283 
(a)Includes gains reclassified to other gain on investments, net in our Condensed Consolidated Statement of Comprehensive Income.
(b)Includes amounts reclassified to income tax expense from continuing operations in our Condensed Consolidated Statement of Comprehensive Income.
(c)For additional information on derivative instruments and hedging activities, refer to Note 18.
(d)Includes gains reclassified to interest and fees on finance receivables and loans in our Condensed Consolidated Statement of Comprehensive Income.
Three months ended March 31, 2022 ($ in millions)
Before taxTax effectAfter tax
Investment securities
Net unrealized losses arising during the period$(2,120)$503 $(1,617)
Less: Net realized gains reclassified to income from continuing operations18(a)(4)(b)14
Net change(2,138)507 (1,631)
Translation adjustments
Net unrealized gains arising during the period3 — 3 
Net investment hedges (c)
Net unrealized losses arising during the period(3)1 (2)
Cash flow hedges (c)
Less: Net realized gains reclassified to income from continuing operations6 (d)(1)(b)5 
Defined benefit pension plans
Net unrealized gains arising during the period2— 2
Other comprehensive loss$(2,142)$509 $(1,633)
(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.
(d)Includes gains reclassified to interest and fees on finance receivables and loans in our Condensed Consolidated Statement of Comprehensive Income.