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RECLASSIFICATIONS OUT OF ACCUMULATED OTHER COMPREHENSIVE INCOME
 6 Months Ended
Jun. 30, 2015
Equity [Abstract]  
RECLASSIFICATIONS OUT OF ACCUMULATED OTHER COMPREHENSIVE INCOME
RECLASSIFICATIONS OUT OF ACCUMULATED OTHER COMPREHENSIVE INCOME
The following table presents the changes in the balances, net of income taxes, of each component of AOCI:
(in millions)
 
Net Unrealized Gains (Losses) on Derivatives
 
Net Unrealized Gains (Losses) on Securities
 
Defined Benefit Pension Plans
 
Total AOCI

Balance at January 1, 2014
 

($298
)
 

($91
)
 

($259
)
 

($648
)
Other comprehensive income before reclassifications
 
120

 
188

 
—

 
308

Other-than-temporary impairment not recognized in earnings on securities
 
—

 
(21
)
 
—

 
(21
)
Amounts reclassified from other comprehensive income
 
13

 
(12
)
 
2

 
3

Net other comprehensive income
 
133

 
155

 
2

 
290

Balance at June 30, 2014
 

($165
)
 

$64

 

($257
)
 

($358
)
Balance at January 1, 2015
 

($69
)
 

$74

 

($377
)
 

($372
)
Other comprehensive income (loss) before reclassifications
 
60

 
(20
)
 
—

 
40

Other-than-temporary impairment not recognized in earnings on securities
 
—

 
(18
)
 
—

 
(18
)
Amounts reclassified from other comprehensive income (loss)
 
(4
)
 
(9
)
 
4

 
(9
)
Net other comprehensive income (loss)
 
56

 
(47
)
 
4

 
13

Balance at June 30, 2015
 

($13
)
 

$27

 

($373
)
 

($359
)

The following table reports the amounts reclassified out of each component of AOCI and into the unaudited interim Consolidated Statements of Operations:
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
 
(in millions)
2015

 
2014

 
2015

 
2014

 
 
Details about AOCI Components
 
 
 
 
 
 
 
 
Affected Line Item in the unaudited interim Consolidated Statements of Operations
Reclassification adjustment for net derivative gains (losses) included in net income:

$17

 

$18

 

$35

 

$36

 
Interest income
 
(14
)
 
(27
)
 
(29
)
 
(56
)
 
Interest expense
 
3

 
(9
)
 
6

 
(20
)
 
Income before income tax expense
 
1

 
(3
)
 
2

 
(7
)
 
Income tax expense
 

$2

 

($6
)
 

$4

 

($13
)
 
Net income
Reclassification of net securities gains (losses) to net income:

$9

 

$—

 

$17

 

$25

 
Securities gains, net
 
(2
)
 
(2
)
 
(3
)
 
(6
)
 
Net impairment losses recognized in earnings
 
7

 
(2
)
 
14

 
19

 
Income before income tax expense
 
2

 
—

 
5

 
7

 
Income tax expense
 

$5

 

($2
)
 

$9

 

$12

 
Net income
Reclassification of changes related to defined benefit pension plans:

($4
)
 

($1
)
 

($7
)
 

($3
)
 
Salaries and employee benefits
 
(4
)
 
(1
)
 
(7
)
 
(3
)
 
Income before income tax expense
 
(2
)
 
—

 
(3
)
 
(1
)
 
Income tax expense
 

($2
)
 

($1
)
 

($4
)
 

($2
)
 
Net income
Total reclassification gains (losses)

$5

 

($9
)
 

$9

 

($3
)
 
Net income

The following table presents the effects to net income of the amounts reclassified out of AOCI:
 
Three Months Ended June 30,
 
Six Months Ended June 30,
(in millions)
2015

 
2014

 
2015

 
2014

Net interest income (includes $3, ($9), $6 and ($20) of AOCI reclassifications, respectively)

$840

 

$833

 

$1,676

 

$1,641

Provision for credit losses
77

 
49

 
135

 
170

Noninterest income (includes $7, ($2), $14 and $19 of AOCI reclassifications, respectively)
360

 
640

 
707

 
998

Noninterest expense (includes $4, $1, $7 and $3 of AOCI reclassifications, respectively)
841

 
948

 
1,651

 
1,758

Income before income tax expense
282

 
476

 
597

 
711

Income tax expense (includes $1, ($3), $4 and ($1) income tax net expense from reclassification items, respectively)
92

 
163

 
198

 
232

Net income

$190

 

$313

 

$399

 

$479