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Accumulated Other Comprehensive Loss
 6 Months Ended
Jun. 30, 2014
Accumulated Other Comprehensive Loss  
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 for the three months ended June 30, 2014 and 2013:

(Dollars in millions)   Before
Tax
Amount		   Tax
Effect		   Net of
Tax		  

For the Three Months Ended June 30, 2013

                    

Cash flow hedge activities:

                    

Unrealized net gains (losses) on hedges arising during the period

   $ 3   $ (1 ) $ 2  

Less: Reclassification adjustment for net (gains) losses on hedges included in interest income for loans and interest expense on long-term debt           

     (7 )   2     (5 )
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net change

     (4 )   1     (3 )
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Securities:

                    

Unrealized holding gains (losses) arising during the period on securities available for sale

     (503 )   197     (306 )

Reclassification adjustment for net (gains) losses on securities available for sale included in securities gains, net           

     (27 )   11     (16 )

Less: accretion of fair value adjustment on securities available for sale           

     (23 )   10     (13 )

Less: accretion of fair value adjustment on held to maturity securities           

     (3 )   1     (2 )

Less: amortization of net unrealized (gains) losses on held to maturity securities           

     11     (4 )   7  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net change

     (545 )   215     (330 )
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Foreign currency translation adjustment

     (3 )   1     (2 )
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Pension and other benefits:

                    

Recognized net actuarial gain (loss)(1)

     29     (12 )   17  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net change(1)

     29     (12 )   17  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net change in accumulated other comprehensive loss

   $ (523 ) $ 205   $ (318 )
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
               

For the Three Months Ended June 30, 2014

                    

Cash flow hedge activities:

                    

Unrealized net gains (losses) on hedges arising during the period

   $ 70   $ (28 ) $ 42  

Less: Reclassification adjustment for net (gains) losses on hedges included in interest income for loans and interest expense on long-term debt           

     (29 )   12     (17 )
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net change

     41     (16 )   25  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Securities:

                    

Unrealized holding gains (losses) arising during the period on securities available for sale           

     156     (61 )   95  

Reclassification adjustment for net (gains) losses on securities available for sale included in securities gains, net           

     (1 )   —     (1 )

Less: accretion of fair value adjustment on securities available for sale           

     (18 )   8     (10 )

Less: amortization of net unrealized (gains) losses on held to maturity securities

     5     (2 )   3  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net change

     142     (55 )   87  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Foreign currency translation adjustment

     4     (2 )   2  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Pension and other benefits:

                    

Pension and other benefits arising during the period

     (4 )   2     (2 )

Amortization of prior service costs(1)

     (4 )   2     (2 )

Recognized net actuarial gain (loss)(1)

     15     (7 )   8  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net change

     7     (3 )   4  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net change in accumulated other comprehensive loss

   $ 194   $ (76 ) $ 118  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
               
(1)
These amounts are included in the computation of net periodic pension cost. For further information, see Note 12 to these consolidated financial statements.

        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 for the six months ended June 30, 2014 and 2013:

(Dollars in millions)   Before
Tax
Amount		   Tax
Effect		   Net of
Tax		  

For the Six Months Ended June 30, 2013

                    

Cash flow hedge activities:

                    

Unrealized net gains (losses) on hedges arising during the period

   $ 9   $ (3 ) $ 6  

Less: Reclassification adjustment for net (gains) losses on hedges included in interest income for loans and interest expense on long-term debt           

     (14 )   5     (9 )
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net change

     (5 )   2     (3 )
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Securities:

                    

Unrealized holding gains (losses) arising during the period on securities available for sale           

     (503 )   197     (306 )

Reclassification adjustment for net (gains) losses 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 (gains) losses on held to maturity securities           

     25     (10 )   15  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net change

     (650 )   256     (394 )
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Foreign currency translation adjustment

     (5 )   2     (3 )
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Pension and other benefits:

                    

Recognized net actuarial gain (loss)(1)

     58     (23 )   35  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net change(1)

     58     (23 )   35  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net change in accumulated other comprehensive loss

   $ (602 ) $ 237   $ (365 )
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
               

For the Six Months Ended June 30, 2014

                    

Cash flow hedge activities:

                    

Unrealized net gains (losses) on hedges arising during the period

   $ 78   $ (31 ) $ 47  

Less: Reclassification adjustment for net (gains) losses on hedges included in interest income for loans and interest expense on long-term debt           

     (52 )   21     (31 )
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net change

     26     (10 )   16  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Securities:

                    

Unrealized holding gains (losses) arising during the period on securities available for sale           

     272     (107 )   165  

Reclassification adjustment for net (gains) losses on securities available for sale included in securities gains, net           

     (3 )   1     (2 )

Less: accretion of fair value adjustment on securities available for sale           

     (24 )   10     (14 )

Less: amortization of net unrealized (gains) losses on held to maturity securities           

     10     (4 )   6  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net change

     255     (100 )   155  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Pension and other benefits:

                    

Pension and other benefits arising during the period

     (4 )   2     (2 )

Amortization of prior service costs(1)

     (4 )   2     (2 )

Recognized net actuarial gain (loss)(1)

     29     (13 )   16  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net change

     21     (9 )   12  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Net change in accumulated other comprehensive loss

   $ 302   $ (119 ) $ 183  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
               
(1)
These amounts are included in the computation of net periodic pension cost. For further information, see Note 12 to these consolidated financial statements.

        The following tables present the change in accumulated other comprehensive loss balances:

For the Three Months Ended June 30, 2013 and 2014:

(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, March 31, 2013

   $ 24   $ 95   $ —   $ (680 ) $ (561 )

Other comprehensive income (loss) before reclassifications

     2     (314 )   (2 )   —     (314 )

Amounts reclassified from accumulated other comprehensive loss

     (5 )   (16 )   —     17     (4 )
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Balance, June 30, 2013

   $ 21   $ (235 ) $ (2 ) $ (663 ) $ (879 )
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                       

Balance, March 31, 2014

   $ 7   $ (260 ) $ (5 ) $ (301 ) $ (559 )

Other comprehensive income (loss) before reclassifications

     42     95     2     (2 )   137  

Amounts reclassified from accumulated other comprehensive loss

     (17 )   (8 )   —     6     (19 )
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Balance, June 30, 2014

   $ 32   $ (173 ) $ (3 ) $ (297 ) $ (441 )
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                       

For the Six Months Ended June 30, 2013 and 2014:

(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, 2012

   $ 24   $ 159   $ 1   $ (698 ) $ (514 )

Other comprehensive income (loss) 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 )
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                       

Balance, December 31, 2013

   $ 16   $ (328 ) $ (3 ) $ (309 ) $ (624 )

Other comprehensive income (loss) before reclassifications

     47     165     —     (2 )   210  

Amounts reclassified from accumulated other comprehensive loss

     (31 )   (10 )   —     14     (27 )
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Balance, June 30, 2014

   $ 32   $ (173 ) $ (3 ) $ (297 ) $ (441 )
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​