Accumulated Other Comprehensive Income (Loss) (Tables)

9 Months Ended

Sep. 30, 2020

Equity [Abstract]

Schedule of Accumulated OCI

The table below presents the changes in accumulated OCI after-tax for the nine months ended September 30, 2020 and 2019.

(Dollars in millions)	Debt Securities		Debit Valuation Adjustments		Derivatives		Employee Benefit Plans		Foreign Currency		Total
Balance, December 31, 2019	$	323	$	(1,494)	$	(400)	$	(4,168)	$	(894)	$	(6,633)
Net change	4,794		(5)		808		144		(86)		5,655
Balance, September 30, 2020	$	5,117	$	(1,499)	$	408	$	(4,024)	$	(980)	$	(978)
Balance, December 31, 2018	$	(5,552)	$	(531)	$	(1,016)	$	(4,304)	$	(808)	$	(12,211)
Net change	6,231		(272)		651		83		(99)		6,594
Balance, September 30, 2019	$	679	$	(803)	$	(365)	$	(4,221)	$	(907)	$	(5,617)

Schedule of Amounts Recognized in Other Comprehensive Income (Loss)

The table below presents the net change in fair value recorded in accumulated OCI, net realized gains and losses reclassified into earnings and other changes for each component of OCI pre- and after-tax for the nine months ended September 30, 2020 and 2019.

	Pretax		Tax effect		After- tax		Pretax		Tax effect		After- tax
	Nine Months Ended September 30
(Dollars in millions)	2020						2019
Debt securities:
Net increase in fair value	$	6,763	$	(1,685)	$	5,078	$	8,388	$	(2,087)	$	6,301
Net realized (gains) reclassified into earnings (1)	(379)		95		(284)		(93)		23		(70)
Net change	6,384		(1,590)		4,794		8,295		(2,064)		6,231
Debit valuation adjustments:
Net (decrease) in fair value	(13)		5		(8)		(368)		83		(285)
Net realized losses reclassified into earnings (1)	4		(1)		3		16		(3)		13
Net change	(9)		4		(5)		(352)		80		(272)
Derivatives:
Net increase in fair value	977		(238)		739		765		(173)		592
Reclassifications into earnings:
Net interest income	96		(23)		73		78		(19)		59
Compensation and benefits expense	(5)		1		(4)		—		—		—
Net realized losses reclassified into earnings	91		(22)		69		78		(19)		59
Net change	1,068		(260)		808		843		(192)		651
Employee benefit plans:
Net actuarial losses and other reclassified into earnings (2)	191		(47)		144		109		(26)		83
Net change	191		(47)		144		109		(26)		83
Foreign currency:
Net (decrease) in fair value	(29)		(57)		(86)		114		(185)		(71)
Net realized (gains) reclassified into earnings (1)	—		—		—		(117)		89		(28)
Net change	(29)		(57)		(86)		(3)		(96)		(99)
Total other comprehensive income (loss)	$	7,605	$	(1,950)	$	5,655	$	8,892	$	(2,298)	$	6,594

(1)    Reclassifications of pretax debt securities, DVA and foreign currency (gains) losses are recorded in other income in the Consolidated Statement of Income.

(2)    Reclassifications of pretax employee benefit plan costs are recorded in other general operating expense in the Consolidated Statement of Income.