Accumulated Other Comprehensive Loss

6 Months Ended

Jun. 30, 2013

Equity [Abstract]

Accumulated Other Comprehensive Loss

Note 11—Accumulated Other Comprehensive Loss

        The following table presents the change in each of the components of accumulated other comprehensive loss and the related tax effect of the change allocated to each component:

(Dollars in millions)	Before Tax Amount			Tax Effect			Net of Tax
For the Six Months Ended June 30, 2012:
Cash flow hedge activities:
Unrealized net gains on hedges arising during the period	$	38		$	(15	)	$	23
Less: Reclassification adjustment for net losses on hedges included in net income		(5	)		2			(3	)
Net change in unrealized losses on hedges		33			(13	)		20
Securities:
Unrealized holding gains arising during the period on securities available for sale		147			(58	)		89
Reclassification adjustment for net gains on securities available for sale included in net income		(47	)		18			(29	)
Less: accretion of fair value adjustment on securities available for sale		(1	)		1			—
Less: accretion of fair value adjustment on held to maturity securities		(14	)		6			(8	)
Less: amortization of net unrealized losses on held to maturity securities		56			(22	)		34
Net change in unrealized losses on securities		141			(55	)		86
Foreign currency translation adjustment		(1	)		1			—
Reclassification adjustment for pension and other benefits included in net income:
Recognized net actuarial loss(1)		49			(19	)		30
Net change in pension and other benefits(1)		49			(19	)		30
Net change in accumulated other comprehensive loss	$	222		$	(86	)	$	136
For the Six Months Ended June 30, 2013:
Cash flow hedge activities:
Unrealized net gains on hedges arising during the period	$	9		$	(3	)	$	6
Less: Reclassification adjustment for net losses on hedges included in interest income for loans and interest expense on long-term debt		(14	)		5			(9	)
Net change in unrealized gains on hedges		(5	)		2			(3	)
Securities:
Unrealized holding gains arising during the period on securities available for sale		(503	)		197			(306	)
Reclassification adjustment for net gains on securities available for sale included in securities gains, net		(123	)		49			(74	)
Less: accretion of fair value adjustment on securities available for sale		(38	)		16			(22	)
Less: accretion of fair value adjustment on held to maturity securities		(11	)		4			(7	)
Less: amortization of net unrealized losses on held to maturity securities		25			(10	)		15
Net change in unrealized gains on securities		(650	)		256			(394	)
Foreign currency translation adjustment		(5	)		2			(3	)
Reclassification adjustment for pension and other benefits included in net income:
Recognized net actuarial loss(1)		58			(23	)		35
Net change in pension and other benefits(1)		58			(23	)		35
Net change in accumulated other comprehensive loss	$	(602	)	$	237		$	(365	)

(1)

These amounts are included in the computation of net periodic pension cost. For further information, see Note 6 to these consolidated financial statements.

        The following table presents the change in accumulated other comprehensive loss balances:

(Dollars in millions)	Net Unrealized Gains (Losses) on Cash Flow Hedges			Net Unrealized Gains (Losses) on Securities			Foreign Currency Translation Adjustment			Pension and Other Benefits Adjustment			Accumulated Other Comprehensive Loss
Balance, December 31, 2011	$	(17	)	$	(107	)	$	—		$	(685	)	$	(809	)
Other comprehensive income before reclassifications		23			115			—			—			138
Amounts reclassified from accumulated other comprehensive loss		(3	)		(29	)		—			30			(2	)
Balance, June 30, 2012	$	3		$	(21	)	$	—		$	(655	)	$	(673	)
Balance, December 31, 2012	$	24		$	159		$	1		$	(698	)	$	(514	)
Other comprehensive income before reclassifications		6			(320	)		(3	)		—			(317	)
Amounts reclassified from accumulated other comprehensive loss		(9	)		(74	)		—			35			(48	)
Balance, June 30, 2013	$	21		$	(235	)	$	(2	)	$	(663	)	$	(879	)