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RECLASSIFICATIONS OUT OF ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)
 3 Months Ended
Mar. 31, 2019
Equity [Abstract]  
Schedule of other comprehensive income
The following tables present the changes in the balances, net of income taxes, of each component of AOCI:
 
 
As of and for the Three Months Ended March 31,
(in millions)
Net Unrealized (Losses) Gains on Derivatives
 
Net Unrealized (Losses) Gains on Debt Securities
 
Employee Benefit Plans
 
Total AOCI

Balance at January 1, 2018

($143
)
 

($236
)
 

($441
)
 

($820
)
Other comprehensive loss before reclassifications
(52
)
 
(272
)
 
—

 
(324
)
Other-than-temporary impairment not recognized in earnings on debt securities
—

 
(1
)
 
—

 
(1
)
Amounts reclassified to the Consolidated Statements of Operations
2

 
(5
)
 
3

 
—

Net other comprehensive (loss) income
(50
)
 
(278
)
 
3

 
(325
)
Balance at March 31, 2018

($193
)
 

($514
)
 

($438
)
 

($1,145
)
Balance at January 1, 2019

($143
)
 

($490
)
 

($463
)
 

($1,096
)
Other comprehensive income before reclassifications
39

 
246

 
—

 
285

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

 
—

 
—

 
—

Amounts reclassified to the Consolidated Statements of Operations
15

 
(5
)
 
3

 
13

Cumulative effect of change in accounting standards
—

 
5

 
—

 
5

Net other comprehensive income
54

 
246

 
3

 
303

Balance at March 31, 2019

($89
)
 

($244
)
 

($460
)
 

($793
)
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:
 
Three Months Ended March 31,
 
(in millions)
2019

 
2018

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

($20
)
 

($6
)
Interest income
 
—

 
4

Interest expense
 
(20
)
 
(2
)
Income before income tax expense
 
(5
)
 
—

Income tax expense
 

($15
)
 

($2
)
Net income
Reclassification of net debt securities gains to net income:

$8

 

$8

Securities gains, net
 
(1
)
 
(1
)
Net debt securities impairment losses recognized in earnings
 
7

 
7

Income before income tax expense
 
2

 
2

Income tax expense
 

$5

 

$5

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

($5
)
 

($4
)
Other operating expense
 
(5
)
 
(4
)
Income before income tax expense
 
(2
)
 
(1
)
Income tax expense
 

($3
)
 

($3
)
Net income
Total reclassification (losses) gains

($13
)
 

$—

Net income

The following table presents the effects on net income of the amounts reclassified out of AOCI:
 
Three Months Ended March 31,
(in millions)
2019

 
2018

Net interest income (includes ($20) and ($2) of AOCI reclassifications, respectively)

$1,160

 

$1,091

Provision for credit losses
85

 
78

Noninterest income (includes $7 and $7 of AOCI reclassifications, respectively)
428

 
371

Noninterest expense (includes $5 and $4 of AOCI reclassifications, respectively)
937

 
883

Income before income tax expense
566

 
501

Income tax expense (includes ($5) and $1 income tax net expense from reclassification items, respectively)
127

 
113

Net income

$439

 

$388