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RECLASSIFICATIONS OUT OF ACCUMULATED OTHER COMPREHENSIVE LOSS
 12 Months Ended
Dec. 31, 2017
Equity [Abstract]  
RECLASSIFICATIONS OUT OF ACCUMULATED OTHER COMPREHENSIVE LOSS
RECLASSIFICATIONS OUT OF ACCUMULATED OTHER COMPREHENSIVE LOSS
The following table presents the changes in the balances, net of income taxes, of each component of AOCI:
(in millions)
 
Net Unrealized (Losses) Gains on Derivatives
 
Net Unrealized (Losses) Gains on Securities
 
Employee Benefit Plans
 
Total AOCI

Balance at January 1, 2015
 

($69
)
 

$74

 

($377
)
 

($372
)
Other comprehensive income before reclassifications
 
93

 
(66
)
 
—

 
27

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

 
(22
)
 
—

 
(22
)
Amounts reclassified from other comprehensive income
 
(14
)
 
(14
)
 
8

 
(20
)
Net other comprehensive loss
 
79

 
(102
)
 
8

 
(15
)
Balance at December 31, 2015
 

$10

 

($28
)
 

($369
)
 

($387
)
Other comprehensive income before reclassifications
 
(62
)
 
(139
)
 
—

 
(201
)
Other-than-temporary impairment not recognized in earnings on securities
 
—

 
(17
)
 
—

 
(17
)
Amounts reclassified from other comprehensive income
 
(36
)
 
(2
)
 
(25
)
 
(63
)
Net other comprehensive loss
 
(98
)
 
(158
)
 
(25
)
 
(281
)
Balance at December 31, 2016
 

($88
)
 

($186
)
 

($394
)
 

($668
)
Other comprehensive income before reclassifications
 
(14
)
 
(6
)
 
—

 
(20
)
Amounts reclassified from other comprehensive income
 
(16
)
 
(2
)
 
31

 
13

Net other comprehensive loss
 
(30
)
 
(8
)
 
31

 
(7
)
Reclassification of tax effects resulting from the 2017 Tax Legislation (1)
 
(25
)
 
(42
)
 
(78
)
 
(145
)
Balance at December 31, 2017
 

($143
)
 

($236
)
 

($441
)
 

($820
)

(1) As of December 31, 2017, the balance of AOCI reflects the retrospective adoption of FASB ASU 2018-02, Income Statement-Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. For further discussion, see Note 22 “Income Taxes.”
The following table reports the amounts reclassified out of each component of AOCI and into the Consolidated Statements of Operations:
 
Year Ended December 31,
 
(in millions)
2017

 
2016

 
2015

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

$25

 

$90

 

$82

 
Interest income
 
—

 
(27
)
 
(59
)
 
Interest expense
 
—

 
(5
)
 
—

 
Other income
 
25

 
58

 
23

 
Income before income tax expense
 
9

 
22

 
9

 
Income tax expense
 

$16

 

$36

 

$14

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

$11

 

$16

 

$29

 
Securities gains, net
 
(7
)
 
(12
)
 
(7
)
 
Net securities impairment losses recognized in earnings
 
4

 
4

 
22

 
Income before income tax expense
 
2

 
2

 
8

 
Income tax expense
 

$2

 

$2

 

$14

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

($48
)
 

$39

 

($8
)
 
Salaries and employee benefits
 
(48
)
 
39

 
(8
)
 
Income before income tax expense
 
(17
)
 
14

 
—

 
Income tax expense
 

($31
)
 

$25

 

($8
)
 
Net income
Total reclassification (losses) gains

($13
)
 

$63

 

$20

 
Net income
The following table presents the effects to net income of the amounts reclassified out of AOCI:
 
Year Ended December 31,
(in millions)
2017

 
2016

 
2015

Net interest income (includes $25, $63 and $23 of AOCI reclassifications, respectively)

$4,173

 

$3,758

 

$3,402

Provision for credit losses
321

 
369

 
302

Noninterest income (includes $4, ($1) and $22 of AOCI reclassifications, respectively)
1,534

 
1,497

 
1,422

Noninterest expense (includes $48, ($39) and $8 of AOCI reclassifications, respectively)
3,474

 
3,352

 
3,259

Income before income tax expense
1,912

 
1,534

 
1,263

Income tax expense (includes ($6), $38 and $17 income tax net expense from reclassification items, respectively)
260

 
489

 
423

Net income

$1,652

 

$1,045

 

$840