Changes in Accumulated Other Comprehensive (Loss) Income

12 Months Ended

Dec. 31, 2014

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Changes in Accumulated Other Comprehensive (Loss) Income

NOTE 18

Changes in Accumulated Other Comprehensive (Loss) Income

AOCI is a balance sheet item in the Shareholders’ Equity section of the Company’s Consolidated Balance Sheets. It is comprisedof items that have not been recognized in earnings but may be recognized in earnings in the future when certain events occur. Changes in each component of AOCI for the three years ended December 31 were as follows:

(Millions), net of tax(a)	Net Unrealized Gains (Losses) on Investment Securities		Net Unrealized Gains (Losses) on Cash Flow Hedges		Foreign Currency Translation Adjustments		Net Unrealized Pension and Other Postretirement Benefit Losses		Accumulated Other Comprehensive (Loss) Income
Balances as of December 31, 2011	$	288	$	(1)	$	(682)	$	(481)	$	(876)
Net unrealized gains		106								106
(Decrease) increase due to amounts reclassified into earnings		(79)		1		1				(77)
Net translation gain of investments in foreign operations						215				215
Net (losses) related to hedges of investment in foreign operations						(288)				(288)
Pension and other postretirement (losses) benefit								(7)		(7)
Net change in accumulated other comprehensive income (loss)		27		1		(72)		(7)		(51)
Balances as of December 31, 2012		315		―		(754)		(488)		(927)
Net unrealized (losses)		(159)								(159)
(Decrease) due to amounts reclassified into earnings		(93)								(93)
Net translation (loss) of investments in foreign operations						(589)				(589)
Net gains related to hedges of investment in foreign operations						253				253
Pension and other postretirement benefit gains								89		89
Net change in accumulated other comprehensive (loss) income		(252)		―		(336)		89		(499)
Balances as of December 31, 2013		63		―		(1,090)		(399)		(1,426)
Net unrealized gains		104								104
(Decrease) increase due to amounts reclassified into earnings		(71)				5				(66)
Net translation (loss) of investments in foreign operations						(869)				(869)
Net gains related to hedges of investment in foreign operations						455				455
Pension and other postretirement (losses) benefit								(117)		(117)
Net change in accumulated other comprehensive income (loss)		33		―		(409)		(117)		(493)
Balances as of December 31, 2014	$	96	$	―	$	(1,499)	$	(516)	$	(1,919)

The following table shows the tax impact for the three years ended December 31 for the changes in each component of accumulated other comprehensive (loss) income:

(Millions)	2014		2013		2012
Investment securities	$	19	$	(142)	$	7
Cash flow hedges		―		―		1
Foreign currency translation adjustments		(64)		(49)		24
Net investment hedges		273		135		(176)
Pension and other postretirement benefit losses		(46)		56		―
Total tax impact	$	182	$	―	$	(144)

The following table presents the effects of reclassifications out of AOCI and into the Consolidated Statements of Income for the years ended December 31

				(Gains) losses recognized in income
				Amount
Description (Millions)			Income Statement Line Item		2014		2013
Available-for-sale securities
	Net gain in AOCI reclassifications for previously unrealized net gains on
		investment securities	Other non-interest revenues	$	111	$	145
	Related income tax expense		Income tax provision		(40)		(52)
	Reclassification to net income related to available-for-sale securities				71		93
Foreign currency translation adjustments
	Reclassification of realized losses on translation adjustments and related hedges		Other expenses		(9)		―
	Related income tax expense		Income tax provision		4		―
	Reclassification of foreign currency translation adjustments				(5)		―
Total				$	66	$	93