Total Equity (Tables)

3 Months Ended

Mar. 31, 2018

Share Repurchases

		Three Months Ended
		March 31,
$ in millions		2018		2017
Repurchases of common stock
under the Firm's share
repurchase program	$	1,250	$	750

Preferred Stock

Preferred Stock
	Three Months Ended
	March 31,
$ in millions	2018		2017
Dividends declared	$	93	$	90

Preferred Stock Outstanding

$ in millions, except per share data	Shares Outstanding			Carrying Value
	At	Liquidation		At		At
	March 31,	Preference		March 31,		December 31,
	2018	per Share		2018		2017
Series
A	44,000	$	25,000	$	1,100	$	1,100
C¹	519,882		1,000		408		408
E	34,500		25,000		862		862
F	34,000		25,000		850		850
G	20,000		25,000		500		500
H	52,000		25,000		1,300		1,300
I	40,000		25,000		1,000		1,000
J	60,000		25,000		1,500		1,500
K	40,000		25,000		1,000		1,000
Total				$	8,520	$	8,520

1. Series C is composed of the issuance of 1,160,791 shares of Series C Preferred Stock to MUFG for an aggregate purchase price of $911 million, less the redemption of 640,909 shares of Series C Preferred Stock of $503 million, which were converted to common shares of approximately $705 million.

Accumulated Other Comprehensive Income (Loss)

Accumulated Other Comprehensive Income (Loss)¹

$ in millions	Foreign Currency Translation Adjustments		AFS Securities		Pension, Postretirement and Other		DVA		Total
December 31, 2017	$	(767)	$	(547)	$	(591)	$	(1,155)	$	(3,060)
Cumulative adjustment for
for accounting
changes²		(8)		(111)		(124)		(194)		(437)
OCI during the period		60		(410)		5		436		91
March 31, 2018	$	(715)	$	(1,068)	$	(710)	$	(913)	$	(3,406)


December 31, 2016	$	(986)	$	(588)	$	(474)	$	(595)	$	(2,643)
OCI during the period		107		84		—		2		193
March 31, 2017	$	(879)	$	(504)	$	(474)	$	(593)	$	(2,450)

Amounts net of tax and noncontrolling interests.
The cumulative adjustment for accounting changes is primarily the effect of the adoption of the accounting update Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. This adjustment was recorded as of January 1, 2018 to reclassify certain income tax effects related to enactment of the Tax Act from AOCI to Retained earnings, primarily related to the remeasurement of deferred tax assets and liabilities resulting from the reduction in corporate income tax rate to 21%. See Note 2 for further information.

Period Changes in OCI Components

Components of Period Changes in OCI

	Three Months Ended
	March 31, 2018¹
$ in millions		Pre-tax Gain (Loss)		Income Tax Benefit (Provision)		After-tax Gain (Loss)		Non-controlling Interests		Net
Foreign currency translation adjustments
OCI activity	$	78	$	39	$	117	$	57	$	60
Reclassified to earnings		—		—		—		—		—
Net OCI	$	78	$	39	$	117	$	57	$	60

Change in net unrealized gains (losses) on AFS securities
OCI activity	$	(535)	$	125	$	(410)	$	—	$	(410)
Reclassified to earnings		—		—		—		—		—
Net OCI	$	(535)	$	125	$	(410)	$	—	$	(410)

Pension, postretirement and other
OCI activity	$	—	$	—	$	—	$	—	$	—
Reclassified to earnings		6		(1)		5		—		5
Net OCI	$	6	$	(1)	$	5	$	—	$	5

Change in net DVA
OCI activity	$	580	$	(140)	$	440	$	15	$	425
Reclassified to earnings		15		(4)		11		—		11
Net OCI	$	595	$	(144)	$	451	$	15	$	436


	Three Months Ended
	March 31, 2017
$ in millions		Pre-tax Gain (Loss)		Income Tax Benefit (Provision)		After-tax Gain (Loss)		Non-controlling Interests		Net
Foreign currency translation adjustments
OCI activity	$	43	$	107	$	150	$	43	$	107
Reclassified to earnings		—		—		—		—		—
Net OCI	$	43	$	107	$	150	$	43	$	107

Change in net unrealized gains (losses) on AFS securities
OCI activity	$	137	$	(52)	$	85	$	—	$	85
Reclassified to earnings		(2)		1		(1)		—		(1)
Net OCI	$	135	$	(51)	$	84	$	—	$	84

Change in net DVA
OCI activity	$	7	$	(1)	$	6	$	7	$	(1)
Reclassified to earnings		4		(1)		3		—		3
Net OCI	$	11	$	(2)	$	9	$	7	$	2

Exclusive of 2018 cumulative adjustments related to the adoption of certain accounting updates in the current quarter. Refer to the table below and Note 2 for further information.

Cumulative Adjustments to Retained Earnings

Cumulative Adjustments to Retained Earnings

	Three Months Ended
$ in millions	March 31, 2018
Revenue from contracts with customers	$	(32)
Derivatives and hedging‒targeted improvements
to accounting for hedging activities		(99)
Reclassification of certain tax effects from AOCI		443
Other¹		(6)
Total	$	306

	Three Months Ended
$ in millions	March 31, 2017
Improvements to employee share-based payment
accounting²		(30)
Intra-entity transfers of assets other than inventory		(5)
Total	$	(35)

Other includes the adoption of accounting updates related to Recognition and Measurement of Financial Assets and Financial Liabilities (other than the provision around presenting unrealized DVA in OCI which we early adopted in 2016) and Derecognition of Nonfinancial Assets. The impact of these adoptions on Retained earnings was not significant.
See Note 2 to the 2017 Form 10-K for further information.