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RECLASSIFICATIONS OUT OF ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
 9 Months Ended
Sep. 30, 2017
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:
 
 
As of and for the three months ended September 30,
(in millions)
Net Unrealized (Losses) Gains on Derivatives
 
Net Unrealized (Losses) Gains on Securities
 
Employee Benefit Plans
 
Total AOCI

Balance at July 1, 2016

$39

 

$166

 

($364
)
 

($159
)
Other comprehensive income before reclassifications
(1
)
 
(28
)
 
—

 
(29
)
Other-than-temporary impairment not recognized in earnings on securities
—

 
3

 
—

 
3

Amounts reclassified from other comprehensive (loss) income
(6
)
 
2

 
2

 
(2
)
Net other comprehensive income
(7
)
 
(23
)
 
2

 
(28
)
Balance at September 30, 2016

$32

 

$143

 

($362
)
 

($187
)
Balance at July 1, 2017

($76
)
 

($128
)
 

($389
)
 

($593
)
Other comprehensive income before reclassifications
(1
)
 
13

 
—

 
12

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

 
—

 
—

 
—

Amounts reclassified from other comprehensive (loss) income
(2
)
 
(1
)
 
3

 
—

Net other comprehensive income
(3
)
 
12

 
3

 
12

Balance at September 30, 2017

($79
)
 

($116
)
 

($386
)
 

($581
)

 
 
As of and for the nine months ended September 30,
(in millions)
Net Unrealized (Losses) Gains on Derivatives
 
Net Unrealized (Losses) Gains on Securities
 
Employee Benefit Plans
 
Total AOCI

Balance at January 1, 2016

$10

 

($28
)
 

($369
)
 

($387
)
Other comprehensive income before reclassifications
45

 
190

 
—

 
235

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

 
(18
)
 
—

 
(18
)
Amounts reclassified from other comprehensive (loss) income
(23
)
 
(1
)
 
7

 
(17
)
Net other comprehensive income
22

 
171

 
7

 
200

Balance at September 30, 2016

$32

 

$143

 

($362
)
 

($187
)
Balance at January 1, 2017

($88
)
 

($186
)
 

($394
)
 

($668
)
Other comprehensive income before reclassifications
22

 
74

 
—

 
96

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

 
(2
)
 
—

 
(2
)
Amounts reclassified from other comprehensive (loss) income
(13
)
 
(2
)
 
8

 
(7
)
Net other comprehensive income
9

 
70

 
8

 
87

Balance at September 30, 2017

($79
)
 

($116
)
 

($386
)
 

($581
)



The following table presents the amounts reclassified out of each component of AOCI and into the Consolidated Statements of Operations:
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
(in millions)
2017

 
2016

 
2017

 
2016

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

$3

 

$23

 

$23

 

$66

Interest income
 
1

 
(8
)
 
(2
)
 
(24
)
Interest expense
 
—

 
(5
)
 
—

 
(5
)
Other income
 
4

 
10

 
21

 
37

Income before income tax expense
 
2

 
4

 
8

 
14

Income tax expense
 

$2

 

$6

 

$13

 

$23

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

$2

 

$—

 

$9

 

$13

Securities gains, net
 
(1
)
 
(3
)
 
(6
)
 
(11
)
Net securities impairment losses recognized in earnings
 
1

 
(3
)
 
3

 
2

Income before income tax expense
 
—

 
(1
)
 
1

 
1

Income tax expense
 

$1

 

($2
)
 

$2

 

$1

Net income
Reclassification of changes related to the employee benefit plan:

($5
)
 

($4
)
 

($14
)
 

($12
)
Salaries and employee benefits
 
(5
)
 
(4
)
 
(14
)
 
(12
)
Income before income tax expense
 
(2
)
 
(2
)
 
(6
)
 
(5
)
Income tax expense
 

($3
)
 

($2
)
 

($8
)
 

($7
)
Net income
Total reclassification gains

$—

 

$2

 

$7

 

$17

Net income

The following table presents the effects on net income of the amounts reclassified out of AOCI:
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
(in millions)
2017

 
2016

 
2017

 
2016

Net interest income (includes $4, $15, $21 and $42 of AOCI reclassifications, respectively)

$1,062

 

$945

 

$3,093

 

$2,772

Provision for credit losses
72

 
86

 
238

 
267

Noninterest income (includes $1, ($8), $3 and ($3) of AOCI reclassifications, respectively)
381

 
435

 
1,130

 
1,120

Noninterest expense (includes $5, $4, $14 and $12 of AOCI reclassifications, respectively)
858

 
867

 
2,576

 
2,505

Income before income tax expense
513

 
427

 
1,409

 
1,120

Income tax expense (includes $0, $1, $3 and $10 income tax net expense from reclassification items, respectively)
165

 
130

 
423

 
357

Net income

$348

 

$297

 

$986

 

$763