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Shareholders' Equity
 6 Months Ended
Jun. 30, 2013
Stockholders' Equity Note [Abstract]  
Shareholders' Equity
Shareholders’ Equity
In March 2013, our Board of Directors approved a program authorizing the purchase by us of up to $2.10 billion of our common stock through March 31, 2014. In the three months ended June 30, 2013, under this program, we purchased approximately 8.5 million shares of our common stock at an average cost of $65.73 per share and an aggregate cost of approximately $560 million. No shares were purchased by us under this program in the three months ended March 31, 2013. As of June 30, 2013, approximately $1.54 billion of our common shares remained available for purchase under the March 2013 program.
In the three months ended March 31, 2013, we purchased approximately 6.5 million shares of our common stock at an average cost of $54.95 per share and an aggregate cost of approximately $360 million, under a previous Board-approved program which ended on March 31, 2013.
In the six months ended June 30, 2013, under both programs, we purchased in the aggregate approximately 15 million shares of our common stock at an average per-share cost of $61.04 and an aggregate cost of approximately $920 million. Shares acquired in connection with our common stock purchase programs which remained unissued as of June 30, 2013 were recorded as treasury stock in our consolidated statement of condition as of June 30, 2013.
The following table presents the after-tax components of accumulated other comprehensive income (loss), or AOCI, as of the dates indicated:
(In millions)
June 30, 2013
 
December 31, 2012
Net unrealized gains on cash flow hedges
$
163

 
$
69

Net unrealized gains on available-for-sale securities portfolio
36

 
815

Net unrealized losses related to reclassified available-for-sale securities
(89
)
 
(110
)
Net unrealized gains (losses) on available-for-sale securities
(53
)
 
705

Net unrealized losses on available-for-sale securities designated in fair value hedges
(123
)
 
(183
)
Other-than-temporary impairment on available-for-sale securities related to factors other than credit
2

 
(3
)
Net unrealized losses on hedges of net investments in non-U.S. subsidiaries
(14
)
 
(14
)
Other-than-temporary impairment on held-to-maturity securities related to factors other than credit
(54
)
 
(65
)
Unrealized losses on retirement plans
(275
)
 
(283
)
Foreign currency translation
(169
)
 
134

Total
$
(523
)
 
$
360


The following table presents changes in AOCI by component, net of related taxes, in the six months ended June 30:
 
Six Months Ended June 30, 2013
(In millions)
Net Unrealized Gains (Losses) on Cash Flow Hedges
 
Net Unrealized Gains (Losses) on Available-for-Sale Securities
 
Net Unrealized Losses on Hedges of Net Investments in Non-U.S. Subsidiaries
 
Other-Than-Temporary Impairment on Held-to-Maturity Securities
 
Unrealized Losses on Retirement Plans
 
Foreign Currency Translation
 
Total
Beginning balance
$
69

 
$
519

 
$
(14
)
 
$
(65
)
 
$
(283
)
 
$
134

 
$
360

Other comprehensive income (loss) before reclassifications
92

 
(694
)
 
—

 
9

 
(2
)
 
(304
)
 
(899
)
Amounts reclassified out of AOCI
2

 
1

 
—

 
2

 
10

 
1

 
16

Other comprehensive income (loss)
94

 
(693
)
 
—

 
11

 
8

 
(303
)
 
(883
)
Ending balance
$
163

 
$
(174
)
 
$
(14
)
 
$
(54
)
 
$
(275
)
 
$
(169
)
 
$
(523
)

The following table presents reclassifications out of AOCI in the three and six months ended June 30, 2013:
 
Amount Reclassified out of AOCI
 
Affected Line Item in Consolidated Statement of Income
(In millions)
Three Months Ended June 30, 2013
 
Six Months Ended June 30, 2013
 
 
Cash flow hedges:
 
 
 
 
 
Interest-rate contracts, net of related taxes of $1 and $1, respectively
$
1

 
$
2

 
Net interest revenue
Available-for-sale securities:
 
 
 
 
 
Net realized gains from sales of available-for-sale securities, net of related taxes of ($2)
—

 
(3
)
 
Net gains (losses) from sales of available-for-sale securities
Other-than-temporary impairment on available-for-sale securities related to factors other than credit, net of related taxes of $2 and $2, respectively
4

 
4

 
Losses reclassified (from) to other comprehensive income
Held-to-maturity securities:
 
 
 
 
 
Other-than-temporary impairment on held-to-maturity securities related to factors other than credit, net of related taxes of $2
—

 
2

 
Losses reclassified (from) to other comprehensive income
Retirement plans:
 
 
 
 
 
Amortization of actuarial losses, net of related taxes of $3 and $6, respectively
5

 
10

 
Compensation and employee benefits expense
Foreign currency translation:
 
 
 
 
 
Sale of foreign entities, net of related taxes of $1 and $1, respectively
1

 
1

 
Processing fees and other revenue
Total reclassifications out of AOCI
$
11

 
$
16

 
 

In the six months ended June 30, 2013, we realized net gains of $5 million, or $3 million net of related taxes as presented in the table above, from sales of available-for-sale securities. Unrealized pre-tax gains of $15 million were included in AOCI as of December 31, 2012, net of deferred taxes of $6 million, related to these sales. In the six months ended June 30, 2012, we realized net gains of $5 million from sales of available-for-sale securities. Unrealized pre-tax gains of $17 million were included in AOCI as of December 31, 2011, net of deferred taxes of $7 million, related to these sales.