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RECLASSIFICATIONS OUT OF ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
 9 Months Ended
Sep. 30, 2015
Equity [Abstract]  
RECLASSIFICATIONS OUT OF ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
RECLASSIFICATIONS OUT OF ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
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
 
137

 
127

 
—

 
264

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

 
(22
)
 
—

 
(22
)
Amounts reclassified from other comprehensive income (loss)
 
16

 
(13
)
 
(32
)
 
(29
)
Net other comprehensive income
 
153

 
92

 
(32
)
 
213

Balance at September 30, 2014
 

($145
)
 

$1

 

($291
)
 

($435
)
Balance at January 1, 2015
 

($69
)
 

$74

 

($377
)
 

($372
)
Other comprehensive income before reclassifications
 
108

 
41

 
—

 
149

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

 
(26
)
 
—

 
(26
)
Amounts reclassified from other comprehensive (loss) income
 
(8
)
 
(9
)
 
7

 
(10
)
Net other comprehensive income
 
100

 
6

 
7

 
113

Balance at September 30, 2015
 

$31

 

$80

 

($370
)
 

($259
)

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 September 30,
 
Nine Months Ended September 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:

$22

 

$18

 

$57

 

$54

 
Interest income
 
(15
)
 
(23
)
 
(44
)
 
(79
)
 
Interest expense
 
7

 
(5
)
 
13

 
(25
)
 
Income before income tax expense
 
3

 
(2
)
 
5

 
(9
)
 
Income tax expense
 

$4

 

($3
)
 

$8

 

($16
)
 
Net income
Reclassification of net securities gains (losses) to net income:

$2

 

$2

 

$19

 

$27

 
Securities gains, net
 
(2
)
 
(1
)
 
(5
)
 
(7
)
 
Net impairment losses recognized in earnings
 
—

 
1

 
14

 
20

 
Income before income tax expense
 
—

 
—

 
5

 
7

 
Income tax expense
 

$—

 

$1

 

$9

 

$13

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

($3
)
 

$52

 

($10
)
 

$49

 
Salaries and employee benefits
 
(3
)
 
52

 
(10
)
 
49

 
Income before income tax expense
 
—

 
18

 
(3
)
 
17

 
Income tax expense
 

($3
)
 

$34

 

($7
)
 

$32

 
Net income
Total reclassification gains (losses)

$1

 

$32

 

$10

 

$29

 
Net income

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

 
2014

 
2015

 
2014

Net interest income (includes $7, ($5), $13 and ($25) of AOCI reclassifications, respectively)

$856

 

$820

 

$2,532

 

$2,461

Provision for credit losses
76

 
77

 
211

 
247

Noninterest income (includes $0, $1, $14 and $20 of AOCI reclassifications, respectively)
353

 
341

 
1,060

 
1,339

Noninterest expense (includes $3, ($52), $10 and ($49) of AOCI reclassifications, respectively)
798

 
810

 
2,449

 
2,568

Income before income tax expense
335

 
274

 
932

 
985

Income tax expense (includes $3, $16, $7 and $15 income tax net expense from reclassification items, respectively)
115

 
85

 
313

 
317

Net income

$220

 

$189

 

$619

 

$668