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Accumulated Other Comprehensive Income (Tables)
 6 Months Ended
Jun. 30, 2021
Equity [Abstract]  
Components of Accumulated Other Comprehensive Loss
The following tables present the change in each of the components of accumulated other comprehensive income and the related tax effect of the change allocated to each component for the three and six months ended June 30, 2021 and 2020.
(Dollars in millions)
Before
Tax
Amount
Tax
Effect
Net of
Tax
For the Three Months Ended June 30, 2021  
Cash flow hedge activities:  
Unrealized net gains (losses) on hedges arising during the period$17 $(5)$12 
Reclassification adjustment for net (gains) losses on hedges included in interest income for loans and interest expense on long-term debt           (25)7 (18)
Net change(8)2 (6)
Securities:  
Unrealized holding gains (losses) arising during the period on securities available for sale277 (72)205 
Reclassification adjustment for net (gains) losses on securities available for sale included in securities gains, net (34)9 (25)
Amortization of net unrealized (gains) losses on held to maturity securities9 (3)6 
Net change252 (66)186 
Pension and other benefits:
 
 
   Amortization of prior service credit(1)
(6)1 (5)
   Recognized net actuarial (gain) loss(1)
31 (8)23 
Net change25 (7)18 
Other(3)1 (2)
Net change in AOCI$266 $(70)$196 
(1)These amounts are included in the computation of net periodic pension cost. For additional information, see Note 11 "Employee Pension and Other Postretirement Benefits" to these consolidated financial statements.
(Dollars in millions)
Before
Tax
Amount
Tax
Effect
Net of
Tax
For the Three Months Ended June 30, 2020   
Cash flow hedge activities:   
Unrealized net gains (losses) on hedges arising during the period$54 $(14)$40 
Reclassification adjustment for net (gains) losses on hedges included in interest income for loans and interest expense on long-term debt           (8)2 (6)
Net change46 (12)34 
Securities:  
Unrealized holding gains (losses) arising during the period on securities available for sale290 (76)214 
Reclassification adjustment for net (gains) losses on securities available for sale included in securities gains, net (57)15 (42)
Amortization of net unrealized (gains) losses on held to maturity securities9 (2)7 
Net change242 (63)179 
Pension and other benefits:  
     Amortization of prior service credit(1)
(7)2 (5)
     Recognized net actuarial (gain) loss(1)
28 (8)20 
Net change21 (6)15 
Net change in AOCI$309 $(81)$228 
(1)These amounts are included in the computation of net periodic pension cost. For additional information, see Note 11 "Employee Pension and Other Postretirement Benefits" to these consolidated financial statements.
Change in Accumulated Other Comprehensive Loss Balances The following tables present the change in accumulated other comprehensive loss balances.
For the Three Months Ended June 30, 2020 and 2021:
Net Unrealized
Gains (Losses) on Cash Flow Hedges
Net
Unrealized
Gains (Losses)
on Securities
Pension and
Other Postretirement
Benefits
Adjustment
Other
Accumulated
Other
Comprehensive
Income (Loss)
(Dollars in millions)
Balance, March 31, 2020$211 $165 $(638)$— $(262)
Other comprehensive income (loss) before reclassifications40 214 — — 254 
Amounts reclassified from AOCI(6)(35)15 — (26)
Balance, June 30, 2020$245 $344 $(623)$— $(34)
Balance, March 31, 2021$136 $(81)$(564)$— $(509)
Other comprehensive income (loss) before reclassifications12 205 — (2)215 
Amounts reclassified from AOCI(18)(19)18 — (19)
Balance, June 30, 2021$130 $105 $(546)$(2)$(313)