Accumulated Other Comprehensive Income

3 Months Ended

Mar. 31, 2015

Stockholders' Equity Note [Abstract]

Accumulated Other Comprehensive Income

Preferred Stock:

Preferred Stock, Series E

In the three months ended March 31, 2015, we declared dividends on our Series E preferred stock of $1,833 per share, or approximately $0.46 per depositary share, totaling approximately $14 million. We did not declare a dividend on the Series E preferred stock in the three months ended March 31, 2014.

Preferred Stock, Series D

In the three months ended March 31, 2015, we declared aggregate dividends on our Series D preferred stock of $1,475 per share, or approximately $0.37 per depositary share, totaling approximately $11 million. We did not declare a dividend on the Series D preferred stock in the three months ended March 31, 2014.

Preferred Stock, Series C

In the three months ended March 31, 2015, we declared aggregate dividends on our Series C preferred stock of $1,313 per share, or approximately $0.33 per depositary share, totaling approximately $6 million. In the three months ended March 31, 2014, we declared aggregate dividends on our Series C preferred stock of $1,313 per share, or approximately $0.33 per depositary share, totaling approximately $6 million.

Common Stock:

In March 2015 our Board of Directors, or Board, approved a common stock purchase program authorizing the purchase of up to $1.8 billion of our common stock through June 30, 2016. No shares were purchased by us under this program in the three months ended March 31, 2015.

In the three months ended March 31, 2015, we purchased approximately 6.3 million shares of our common stock at an average per-share cost of $74.88 and an aggregate cost of approximately $470 million under a previous program approved by the Board in March 2014. As of March 31, 2015, no shares remained available for purchases of our common stock under the program. Shares acquired under the program which remained unissued as of March 31, 2015 were recorded as treasury stock in our consolidated statement of condition as of March 31, 2015.

In the three months ended March 31, 2015, we declared aggregate common stock dividends of $0.30 per share, totaling approximately $124 million, compared to aggregate common stock dividends of $0.26 per share, totaling approximately $112 million, declared in the three months ended March 31, 2014.

Accumulated Other Comprehensive Income (Loss):

The following table presents the after-tax components of AOCI as of the dates indicated:

(In millions)	March 31, 2015			December 31, 2014
Net unrealized gains on cash flow hedges	$	288		$	276
Net unrealized gains (losses) on available-for-sale securities portfolio	472			273
Net unrealized gains (losses) related to reclassified available-for-sale securities	35			39
Net unrealized gains (losses) on available-for-sale securities	507			312
Net unrealized losses on available-for-sale securities designated in fair value hedges	(136		)	(121		)
Other-than-temporary impairment on available-for-sale securities related to factors other than credit	—			1
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	(25		)	(29		)
Net unrealized losses on retirement plans	(267		)	(272		)
Foreign currency translation	(1,359		)	(660		)
Total	$	(1,006	)	$	(507	)

The following tables present changes in AOCI by component, net of related taxes, for the periods indicated:

	Three Months Ended March 31, 2015
(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			Net Unrealized Losses on Retirement Plans			Foreign Currency Translation			Total
Balance as of December 31, 2014	$	276	$	192	$	(14	)	$	(29	)	$	(272	)	$	(660	)	$	(507	)
Other comprehensive income (loss) before reclassifications	11		179		—			5			—			(699		)	(504		)
Amounts reclassified into earnings	1		—		—			(1		)	5			—			5
Other comprehensive income (loss)	12		179		—			4			5			(699		)	(499		)
Balance as of March 31, 2015	$	288	$	371	$	(14	)	$	(25	)	$	(267	)	$	(1,359	)	$	(1,006	)

	Three Months Ended March 31, 2014
(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			Net Unrealized Losses on Retirement Plans			Foreign Currency Translation		Total
Balance as of December 31, 2013	$	161		$	(221	)	$	(14	)	$	(47	)	$	(203	)	$	229	$	(95	)
Other comprehensive income (loss) before reclassifications	(8		)	258			—			8			1			27		286
Amounts reclassified into earnings	1			(9		)	—			—			5			—		(3		)
Other comprehensive income (loss)	(7		)	249			—			8			6			27		283
Balance as of March 31, 2014	$	154		$	28		$	(14	)	$	(39	)	$	(197	)	$	256	$	188

The following table presents after-tax reclassifications into earnings for the periods indicated:

	Three Months Ended March 31,
	2015			2014
(In millions)	Amounts Reclassified into Earnings						Affected Line Item in Consolidated Statement of Income
Cash flow hedges:
Interest-rate contracts	$	1		$	1		Net interest revenue
Available-for-sale securities:
Net realized gains from sales of available-for-sale securities, net of related taxes of ($6)	—			(9		)	Net gains (losses) from sales of available-for-sale securities
Held-to-maturity securities:
Other-than-temporary impairment on held-to-maturity securities related to factors other than credit	(1		)	—			Losses reclassified (from) to other comprehensive income
Retirement plans:
Amortization of actuarial losses, net of related taxes of ($4) and tax benefits of $3, respectively	5			5			Compensation and employee benefits expenses
Total reclassifications out of AOCI	$	5		$	(3	)