Accumulated Other Comprehensive Income (Loss) (Tables)

9 Months Ended

Sep. 30, 2024

Equity [Abstract]

Schedule of Accumulated OCI

The table below presents the changes in accumulated OCI after-tax for the nine months ended September 30, 2024 and 2023.

(Dollars in millions)	Debt Securities		Debit Valuation Adjustments		Derivatives		Employee Benefit Plans		Foreign Currency		Total
Balance, December 31, 2022	$	(2,983)	$	(881)	$	(11,935)	$	(4,309)	$	(1,048)	$	(21,156)
Net change	81		(419)		(317)		25		(6)		(636)
Balance, September 30, 2023	$	(2,902)	$	(1,300)	$	(12,252)	$	(4,284)	$	(1,054)	$	(21,792)
Balance, December 31, 2023	$	(2,410)	$	(1,567)	$	(8,016)	$	(4,748)	$	(1,047)	$	(17,788)
Net change	444		(135)		3,100		75		(30)		3,454
Balance, September 30, 2024	$	(1,966)	$	(1,702)	$	(4,916)	$	(4,673)	$	(1,077)	$	(14,334)

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, 2024 and 2023.

	Pretax		Tax effect		After- tax		Pretax		Tax effect		After- tax
	Nine Months Ended September 30
(Dollars in millions)	2024						2023
Debt securities:
Net increase (decrease) in fair value	$	581	$	(142)	$	439	$	(306)	$	84	$	(222)
Net realized (gains) losses reclassified into earnings (1)	6		(1)		5		404		(101)		303
Net change	587		(143)		444		98		(17)		81
Debit valuation adjustments:
Net increase (decrease) in fair value	(191)		48		(143)		(560)		136		(424)
Net realized (gains) losses reclassified into earnings (1)	12		(4)		8		7		(2)		5
Net change	(179)		44		(135)		(553)		134		(419)
Derivatives:
Net increase (decrease) in fair value	1,851		(464)		1,387		(1,027)		261		(766)
Reclassifications into earnings:
Net interest income	2,163		(542)		1,621		616		(153)		463
Market making and similar activities	146		(35)		111		—		—		—
Compensation and benefits expense	(25)		6		(19)		(18)		4		(14)
Net realized (gains) losses reclassified into earnings	2,284		(571)		1,713		598		(149)		449
Net change	4,135		(1,035)		3,100		(429)		112		(317)
Employee benefit plans:
Net actuarial losses and other reclassified into earnings (2)	98		(23)		75		36		(11)		25
Net change	98		(23)		75		36		(11)		25
Foreign currency:
Net increase (decrease) in fair value	33		(70)		(37)		80		(75)		5
Net realized (gains) losses reclassified into earnings (1)	41		(34)		7		(44)		33		(11)
Net change	74		(104)		(30)		36		(42)		(6)
Total other comprehensive income (loss)	$	4,715	$	(1,261)	$	3,454	$	(812)	$	176	$	(636)

(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.