Accumulated Other Comprehensive Loss

12 Months Ended

Dec. 31, 2011

Accumulated Other Comprehensive Loss [Abstract]

Accumulated Other Comprehensive Loss

Note 19—Accumulated Other Comprehensive Loss

The following table presents the change in each of the components of accumulated other comprehensive income (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 Year Ended December 31, 2009:
Cash flow hedge activities:
Unrealized net gains on hedges arising during the year	$	36		$	(14	)	$	22
Less: accretion of fair value adjustment		13			(5	)		8
Less: reclassification adjustment for net gains on hedges included in net income		(138	)		54			(84	)
Net change in unrealized gains on hedges		(89	)		35			(54	)
Securities:
Unrealized holding gains arising during the year on securities available for sale		20			(8	)		12
Reclassification adjustment for net gains on securities available for sale included in net income		28			(11	)		17
Less: accretion of fair value adjustment on securities available for sale		(12	)		5			(7	)
Less: accretion of fair value adjustment on held to maturity securities		(20	)		8			(12	)
Less: accretion of net unrealized losses on held to maturity securities		77			(30	)		47
Net change in unrealized losses on securities		93			(36	)		57
Foreign currency translation adjustment		2			(1	)		1
Reclassification adjustment for pension and other benefits included in net income:
Amortization of transition amount		1			(1	)		—
Recognized net actuarial loss		21			(8	)		13
Pension and other benefits arising during the year		237			(93	)		144
Net change in pension and other benefits(1)		259			(102	)		157
Net change in accumulated other comprehensive loss	$	265		$	(104	)	$	161
For the Year Ended December 31, 2010:
Cash flow hedge activities:
Unrealized net losses on hedges arising during the year	$	(3	)	$	1		$	(2	)
Less: accretion of fair value adjustment		3			(1	)		2
Less: reclassification adjustment for net gains on hedges included in net income		(65	)		25			(40	)
Net change in unrealized gains on hedges		(65	)		25			(40	)
Securities:
Cumulative effect from change in accounting for embedded credit derivatives		11			(4	)		7
Unrealized holding gains arising during the year on securities available for sale		127			(50	)		77
Reclassification adjustment for net gains on securities available for sale included in net income		(105	)		41			(64	)
Less: accretion of fair value adjustment on securities available for sale		(4	)		2			(2	)
Less: accretion of fair value adjustment on held to maturity securities		(26	)		10			(16	)
Less: accretion of net unrealized losses on held to maturity securities		92			(36	)		56
Net change in unrealized losses on securities		95			(37	)		58
Foreign currency translation adjustment		2			(1	)		1
Reclassification adjustment for pension and other benefits included in net income:
Amortization of transition amount		2			(1	)		1
Recognized net actuarial loss		21			(7	)		14
Pension and other benefits arising during the year		(98	)		38			(60	)
Net change in pension and other benefits(1)		(75	)		30			(45	)
Net change in accumulated other comprehensive loss	$	(43	)	$	17		$	(26	)
For the Year Ended December 31, 2011:
Cash flow hedge activities:
Unrealized net losses on hedges arising during the year	$	(5	)	$	2		$	(3	)
Less: Reclassification adjustment for net losses on hedges included in net income		11			(4	)		7
Net change in unrealized losses on hedges		6			(2	)		4
Securities:
Unrealized holding gains arising during the period on securities available for sale		204			(80	)		124
Reclassification adjustment for net gains on securities available for sale included in net income		(58	)		23			(35	)
Less: accretion of fair value adjustment on securities available for sale		(5	)		2			(3	)
Less: accretion of fair value adjustment on held to maturity securities		(29	)		11			(18	)
Less: accretion of net unrealized losses on held to maturity securities		104			(41	)		63
Net change in unrealized losses on securities		216			(85	)		131
Foreign currency translation adjustment		(1	)		—			(1	)
Reclassification adjustment for pension and other benefits included in net income:
Amortization of transition amount		1			—			1
Recognized net actuarial loss		51			(20	)		31
Pension and other benefits arising during the year		(491	)		193			(298	)
Net change in pension and other benefits(1)		(439	)		173			(266	)
Net change in accumulated other comprehensive loss	$	(218	)	$	86		$	(132	)

⁽¹⁾ For further information, see Note 8 to these consolidated financial statements.

The following table presents the change in accumulated other comprehensive income (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, 2008	$	73		$	(353	)	$	(1	)	$	(531	)	$	(812	)
Change during the year		(54	)		57			1			157			161
Balance, December 31, 2009	$	19		$	(296	)	$	—		$	(374	)	$	(651	)
Balance, December 31, 2009	$	19		$	(296	)	$	—		$	(374	)	$	(651	)
Change during the year		(40	)		58			1			(45	)		(26	)
Balance, December 31, 2010	$	(21	)	$	(238	)	$	1		$	(419	)	$	(677	)
Balance, December 31, 2010	$	(21	)	$	(238	)	$	1		$	(419	)	$	(677	)
Change during the year		4			131			(1	)		(266	)		(132	)
Balance, December 31, 2011	$	(17	)	$	(107	)	$	—		$	(685	)	$	(809	)