Accumulated Other Comprehensive Income (Loss) (Tables)

3 Months Ended

Mar. 31, 2022

The following table details the components of AOCI:

Components of Accumulated Other Comprehensive Income (Loss)


	March 31, 2022						December 31, 2021
dollars in millions	Gross Unrealized		Income Taxes		Net Unrealized		Gross Unrealized		Income Taxes		Net Unrealized
Unrealized (losses) gains on securities available for sale	$	(431)	$	104	$	(327)	$	(12)	$	3	$	(9)
Unrealized (losses) gains on securities available for sale transferred to held to maturity	(8)		2		(6)		(9)		2		(7)
Defined benefit pension items	37		(9)		28		34		(8)		26
Foreign currency translation adjustments	—		—		—		—		—		—
Gains (losses) on hedge derivatives	—		—		—		—		—		—
Total accumulated other comprehensive income (loss)	$	(402)	$	97	$	(305)	$	13	$	(3)	$	10

The following table details the changes in the components of AOCI, net of income taxes:

Changes in Accumulated Other Comprehensive Income (Loss) by Component


dollars in millions	Unrealized (losses) gains on securities available for sale		Unrealized net gains (losses) on Available for Sale Securities transferred to Held to Maturity Securities		Net change in Defined Benefit Pension Items		Total AOCI
Balance as of December 31, 2021	$	(9)	$	(7)	$	26	$	10
AOCI activity before reclassifications	(318)		—		—		(318)
Amounts reclassified from AOCI	—		1		2		3
Net current period AOCI	(318)		1		2		(315)
Balance as of March 31, 2022	$	(327)	$	(6)	$	28	$	(305)

Balance as of December 31, 2020	$	79	$	4	$	(71)	$	12
AOCI activity before reclassifications	(44)		—		—		(44)
Amounts reclassified from AOCI	(7)		—		5		(2)
Net current period AOCI	(51)		—		5		(46)
Balance as of March 31, 2021	$	28	$	4	$	(66)	$	(34)

The following table presents the pretax and after-tax components of other comprehensive income.

Other Comprehensive Income (Loss) by Component


	Three Months Ended March 31,
	2022						2021
dollars in millions	Gross Amount		Tax		Net Amount		Gross Amount		Tax		Net Amount		Income Statement Line Item





Net change in pension obligations

Reclassifications out of AOCI	$	3	$	(1)	$	2	$	7	$	(2)	$	5	Other noninterest expense
Net Change	$	3	$	(1)	$	2	$	7	$	(2)	$	5






Unrealized net gains on securities Available for Sale
AOCI activity before reclassification	$	(419)	$	101	$	(318)	$	(57)	$	13	$	(44)
Reclassifications out of AOCI	1		—		1		(9)		2		(7)		Realized gains on investment securities available for sale, net
Net Change	$	(418)	$	101	$	(317)	$	(66)	$	15	$	(51)
Net current period AOCI	$	(415)	$	100	$	(315)	$	(59)	$	13	$	(46)