Accumulated Other Comprehensive Loss (Tables)

12 Months Ended

Dec. 31, 2023

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Income

The following table presents changes, net of tax, in each component of accumulated other comprehensive loss.

	Investment securities (a)
($ in millions)	Available- for-sale securities (b)		Held-to-maturity securities		Translation adjustments and net investment hedges (c)		Cash flow hedges (c)		Defined benefit pension plans		Accumulated other comprehensive income (loss)
Balance at January 1, 2021	$	640	$	—	$	19	$	82	$	(110)	$	631
Net change	(735)		—		—		(47)		(7)		(789)
Balance at December 31, 2021	(95)		—		19		35		(117)		(158)
Net change	(4,000)		—		(1)		(17)		117		(3,901)
Balance at December 31, 2022	(4,095)		—		18		18		—		(4,059)
Net change	949		(682)		3		(27)		—		243
Balance at December 31, 2023	$	(3,146)	$	(682)	$	21	$	(9)	$	—	$	(3,816)

(a)Refer to Note 8 for additional information on securities transferred from available-for-sale to held-to-maturity.

(b)Represents the after-tax difference between the fair value and amortized cost of our available-for-sale securities portfolio. Refer to Note 8 for additional information.

(c)For additional information on derivative instruments and hedging activities, refer to Note 21.

Schedule of Reclassification Out of Accumulated Other Comprehensive Income

The following tables present the before- and after-tax changes in each component of accumulated other comprehensive loss.

Year ended December 31, 2023 ($ in millions)	Before tax			Tax effect			After tax
Investment securities
Available-for-sale securities
Net unrealized gains arising during the period	$	338		$	(78)		$	260
Net unrealized loss on securities transferred to held-to-maturity (a)	911			(218)			693
Less: Net realized gains reclassified to income from continuing operations	5		(b)	(1)		(c)	4
Net change	1,244			(295)			949
Held-to-maturity securities
Net unrealized loss on securities transferred from available-for-sale (a)	(911)			218			(693)
Less: Amortization of amounts previously recorded upon transfer from available-for-sale	(14)		(d)	3			(11)
Net change	(897)			215			(682)
Translation adjustments
Net unrealized gains arising during the period	6			(1)			5
Net investment hedges (e)
Net unrealized losses arising during the period	(3)			1			(2)
Cash flow hedges (e)
Net unrealized losses arising during the period	(22)			6			(16)
Less: Net realized gains reclassified to income from continuing operations	14		(f)	(3)		(c)	11
Net change	(36)			9			(27)
Other comprehensive income	$	314		$	(71)		$	243

(a)Includes unrealized losses on securities transferred from available-for-sale to held-to-maturity. Refer to Note 8 for additional information.

(b)Includes gains reclassified to other gain on investments, net in our Consolidated Statement of Income.

(c)Includes amounts reclassified to income tax expense from continuing operations in our Consolidated Statement of Income.

(d)Includes amounts reclassified to interest and dividends on investment securities and other earning assets in our Consolidated Statement of Income.

(e)For additional information on derivative instruments and hedging activities, refer to Note 21.

(f)Includes gains reclassified to interest and fees on finance receivables and loans in our Consolidated Statement of Income.

Year ended December 31, 2022 ($ in millions)	Before tax			Tax effect			After tax
Investment securities
Available-for-sale securities
Net unrealized losses arising during the period	$	(5,222)		$	1,240		$	(3,982)
Less: Net realized gains reclassified to income from continuing operations	23		(a)	(5)		(b)	18
Net change	(5,245)			1,245			(4,000)
Translation adjustments
Net unrealized losses arising during the period	(10)			2			(8)
Net investment hedges (c)
Net unrealized gains arising during the period	8			(1)			7
Cash flow hedges (c)
Net unrealized losses arising during the period	(2)			—			(2)
Less: Net realized gains reclassified to income from continuing operations	21		(d)	(6)		(b)	15
Net change	(23)			6			(17)
Defined benefit pension plans
Net unrealized gains arising during the period	2			—			2
Less: Net realized losses reclassified to income from continuing operations	(71)		(e)	(44)		(b)	(115)
Net change	73			44			117
Other comprehensive loss	$	(5,197)		$	1,296		$	(3,901)

(a)Includes gains reclassified to other gain on investments, net in our Consolidated Statement of Income.

(b)Includes amounts reclassified to income tax expense from continuing operations in our Consolidated Statement of Income.

(c)For additional information on derivative instruments and hedging activities, refer to Note 21.

(d)Includes gains reclassified to interest and fees on finance receivables and loans in our Consolidated Statement of Income.

(e)Includes losses reclassified to compensation and benefits expense in our Consolidated Statement of Income as a result of the settlement of our qualified defined benefit pension plan.

Year ended December 31, 2021 ($ in millions)	Before tax			Tax effect			After tax
Investment securities
Available-for-sale securities
Net unrealized losses arising during the period	$	(859)		$	203		$	(656)
Less: Net realized gains reclassified to income from continuing operations	102		(a)	(23)		(b)	79
Net change	(961)			226			(735)
Cash flow hedges (c)
Less: Net realized gains reclassified to income from continuing operations	61		(d)	(14)		(b)	47
Defined benefit pension plans
Net unrealized losses arising during the period	(11)			3			(8)
Less: Net realized losses reclassified to income from continuing operations	(1)			—			(1)
Net change	(10)			3			(7)
Other comprehensive loss	$	(1,032)		$	243		$	(789)

(a)Includes gains reclassified to other gain on investments, net in our Consolidated Statement of Income.

(b)Includes amounts reclassified to income tax expense from continuing operations in our Consolidated Statement of Income.

(c)For additional information on derivative instruments and hedging activities, refer to Note 21.

(d)Includes gains reclassified to interest and fees on finance receivables and loans in our Consolidated Statement of Income.