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RECLASSIFICATIONS OUT OF ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)
 12 Months Ended
Dec. 31, 2018
Equity [Abstract]  
Schedule of 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 (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 loss before reclassifications
 
(62
)
 
(139
)
 
—

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

 
(17
)
 
—

 
(17
)
Amounts reclassified to the Consolidated Statements of Operations
 
(36
)
 
(2
)
 
(25
)
 
(63
)
Net other comprehensive loss
 
(98
)
 
(158
)
 
(25
)
 
(281
)
Balance at December 31, 2016
 

($88
)
 

($186
)
 

($394
)
 

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

 
(20
)
Amounts reclassified to the Consolidated Statements of Operations
 
(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
)
Other comprehensive loss before reclassifications
 
(33
)
 
(239
)
 
—

 
(272
)
Other-than-temporary impairment not recognized in earnings on debt securities
 
—

 
(3
)
 
—

 
(3
)
Amounts reclassified to the Consolidated Statements of Operations
 
33

 
(12
)
 
(22
)
 
(1
)
Net other comprehensive loss
 
—

 
(254
)
 
(22
)
 
(276
)
Balance at December 31, 2018
 

($143
)
 

($490
)
 

($463
)
 

($1,096
)

(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.”
Schedule of reclassification out of accumulated other comprehensive income
The following table presents the amounts reclassified out of each component of AOCI and into the Consolidated Statements of Operations:
 
Year Ended December 31,
 
(in millions)
2018

 
2017

 
2016

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

($55
)
 

$25

 

$90

 
Interest income
 
12

 
—

 
(27
)
 
Interest expense
 
—

 
—

 
(5
)
 
Other income
 
(43
)
 
25

 
58

 
Income before income tax expense
 
(10
)
 
9

 
22

 
Income tax expense
 

($33
)
 

$16

 

$36

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

$19

 

$11

 

$16

 
Securities gains, net
 
(3
)
 
(7
)
 
(12
)
 
Net debt securities impairment losses recognized in earnings
 
16

 
4

 
4

 
Income before income tax expense
 
4

 
2

 
2

 
Income tax expense
 

$12

 

$2

 

$2

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

$33

 

($48
)
 

$39

 
Salaries and employee benefits
 
33

 
(48
)
 
39

 
Income before income tax expense
 
11

 
(17
)
 
14

 
Income tax expense
 

$22

 

($31
)
 

$25

 
Net income
Total reclassification gains (losses)

$1

 

($13
)
 

$63

 
Net income
The following table presents the effects on net income of the amounts reclassified out of AOCI:
 
Year Ended December 31,
(in millions)
2018

 
2017

 
2016

Net interest income (includes ($43), $25 and $63 of AOCI reclassifications, respectively)

$4,532

 

$4,173

 

$3,758

Provision for credit losses
326

 
321

 
369

Noninterest income (includes $16, $4 and ($1) of AOCI reclassifications, respectively)
1,596

 
1,534

 
1,497

Noninterest expense (includes ($33), $48 and ($39) of AOCI reclassifications, respectively)
3,619

 
3,474

 
3,352

Income before income tax expense
2,183

 
1,912

 
1,534

Income tax expense (includes $5, ($6) and $38 income tax net expense from reclassification items, respectively)
462

 
260

 
489

Net income

$1,721

 

$1,652

 

$1,045