Accumulated Other Comprehensive (Loss) Income (Tables)

9 Months Ended

Sep. 30, 2022

Schedule of Accumulated Other Comprehensive (Loss) Income

The following table details the components of Accumulated Other Comprehensive (Loss) Income (“AOCI”):

Components of Accumulated Other Comprehensive Income (Loss)


dollars in millions	September 30, 2022						December 31, 2021
	Gross Unrealized		Income Taxes		Net Unrealized		Gross Unrealized		Income Taxes		Net Unrealized
Unrealized loss on securities available for sale	$	(995)	$	239	$	(756)	$	(12)	$	3	$	(9)
Unrealized loss on securities available for sale transferred to securities held to maturity	(8)		2		(6)		(9)		2		(7)
Defined benefit pension items	43		(10)		33		34		(8)		26


Total accumulated other comprehensive (loss) income	$	(960)	$	231	$	(729)	$	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 (loss) gain on securities available for sale		Unrealized loss on securities available for sale transferred to securities held to maturity		Net change in Defined Benefit Pension Items		Total AOCI
Balance as of December 31, 2021	$	(9)	$	(7)	$	26	$	10
AOCI activity before reclassifications	(747)		—		—		(747)
Amounts reclassified from AOCI	—		1		7		8
Net current period AOCI	(747)		1		7		(739)
Balance as of September 30, 2022	$	(756)	$	(6)	$	33	$	(729)

Balance as of December 31, 2020	$	79	$	4	$	(71)	$	12
AOCI activity before reclassifications	(33)		—		—		(33)
Amounts reclassified from AOCI	(26)		(1)		16		(11)
Net current period AOCI	(59)		(1)		16		(44)
Balance as of September 30, 2021	$	20	$	3	$	(55)	$	(32)

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

Other Comprehensive Income (Loss) by Component


dollars in millions	Three Months Ended September 30,
	2022						2021
	Gross Amount		Tax		Net Amount		Gross Amount		Tax		Net Amount		Income Statement Line Item





Net change in pension obligations
AOCI activity before reclassification	$	—	$	—	$	—	$	—	$	—	$	—
Reclassifications out of AOCI	2		—		2		7		(1)		6		Other noninterest expense
Net Change	$	2	$	—	$	2	$	7	$	(1)	$	6

Unrealized loss on securities available for sale transferred to securities held to maturity
AOCI activity before reclassification	$	—	$	—	$	—	$	—	$	—	$	—
Reclassifications out of AOCI	—		—		—		(1)		—		(1)		Interest on investment securities
Net Change	$	—	$	—	$	—	$	(1)	$	—	$	(1)

Unrealized loss on securities available for sale
AOCI activity before reclassification	$	(348)	$	82	$	(266)	$	(11)	$	3	$	(8)
Reclassifications out of AOCI	—		—		—		(8)		1		(7)		Realized gain on sales of investment securities available for sale, net
Net Change	$	(348)	$	82	$	(266)	$	(19)	$	4	$	(15)
Net current period AOCI	$	(346)	$	82	$	(264)	$	(13)	$	3	$	(10)

	Nine Months Ended September 30,
	2022						2021

	Gross Amount		Tax		Net Amount		Gross Amount		Tax		Net Amount		Income Statement Line Item





Net change in pension obligations
AOCI activity before reclassification	$	—	$	—	$	—	$	—	$	—	$	—
Reclassifications out of AOCI	9		(2)		7		20		(4)		16		Other noninterest expense
Net Change	$	9	$	(2)	$	7	$	20	$	(4)	$	16

Unrealized loss on securities available for sale transferred to securities held to maturity
AOCI activity before reclassification	$	—	$	—	$	—	$	—	$	—	$	—
Reclassifications out of AOCI	1		—		1		(1)		—		(1)		Interest on investment securities
Net Change	$	1	$	—	$	1	$	(1)	$	—	$	(1)

Unrealized loss on securities available for sale
AOCI activity before reclassification	$	(983)	$	236	$	(747)	$	(43)	$	10	$	(33)
Reclassifications out of AOCI	—		—		—		(33)		7		(26)		Realized gain on sales of investment securities available for sale, net
Net Change	$	(983)	$	236	$	(747)	$	(76)	$	17	$	(59)
Net current period AOCI	$	(973)	$	234	$	(739)	$	(57)	$	13	$	(44)