Accumulated Other Comprehensive (Loss) Income

12 Months Ended

Dec. 31, 2022

Accumulated Other Comprehensive (Loss) Income

ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME

The following table details the components of accumulated other comprehensive (loss) income:

Components of Accumulated Other Comprehensive (Loss) Income


dollars in millions	December 31, 2022						December 31, 2021
	Pretax		Income Taxes		Net of Income Taxes		Pretax		Income Taxes		Net of Income Taxes
Unrealized loss on securities available for sale	$	(972)	$	233	$	(739)	$	(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	13		(3)		10		34		(8)		26


Total accumulated other comprehensive (loss) income	$	(967)	$	232	$	(735)	$	13	$	(3)	$	10

The following table details the changes in the components of accumulated other comprehensive (loss) income, net of income tax:

Changes in Components of Accumulated Other Comprehensive (Loss) Income, net of income tax


dollars in millions	Unrealized (loss) gain on securities available for sale		Unrealized (loss) gain on securities available for sale transferred to securities held to maturity		Net change in defined benefit pension items		Total accumulated other comprehensive (loss) income
Balance as of December 31, 2021	$	(9)	$	(7)	$	26	$	10
AOCI activity before reclassifications	(730)		—		(25)		(755)
Amounts reclassified from AOCI	—		1		9		10
Other comprehensive (loss) income for the period	(730)		1		(16)		(745)
Balance as of December 31, 2022	$	(739)	$	(6)	$	10	$	(735)

Balance as of December 31, 2020	$	79	$	4	$	(71)	$	12
AOCI activity before reclassifications	(62)		(10)		76		4
Amounts reclassified from AOCI	(26)		(1)		21		(6)
Other comprehensive (loss) income for the period	(88)		(11)		97		(2)
Balance as of December 31, 2021	$	(9)	$	(7)	$	26	$	10

Other Comprehensive (Loss) Income

The amounts included in the Consolidated Statements of Comprehensive Income are net of income taxes. The following table presents the pretax and after-tax components of other comprehensive income.

Components of Other Comprehensive (Loss) Income


dollars in millions	Year ended December 31
	2022						2021

	Pretax		Income Taxes		Net of Income Taxes		Pretax		Income Taxes		Net of Income Taxes		Income Statement Line Item





Defined benefit pension items
Actuarial (loss) gain	$	(33)	$	8	$	(25)	$	98	$	(22)	$	76
Amounts reclassified from AOCI	12		(3)		9		27		(6)		21		Other noninterest expense
Other comprehensive (loss) income for defined benefit pension items	$	(21)	$	5	$	(16)	$	125	$	(28)	$	97

Unrealized loss on securities available for sale transferred to securities held to maturity
Amounts reclassified from AOCI	$	—	$	—	$	—	$	(13)	$	3	$	(10)
Reclassifications out of AOCI	1		—		1		(1)		—		(1)		Interest on investment securities
Other comprehensive income (loss) on securities available for sale transferred to securities held to maturity	$	1	$	—	$	1	$	(14)	$	3	$	(11)

Unrealized loss on securities available for sale
AOCI activity before reclassification	$	(960)	$	230	$	(730)	$	(81)	$	19	$	(62)
Amounts reclassified from AOCI	—		—		—		(33)		7		(26)		Realized gain on sale of investment securities available for sale, net
Other comprehensive loss on securities available for sale	$	(960)	$	230	$	(730)	$	(114)	$	26	$	(88)
Total other comprehensive loss	$	(980)	$	235	$	(745)	$	(3)	$	1	$	(2)