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Other comprehensive income (loss) (Tables)
 6 Months Ended
Jun. 30, 2020
Equity [Abstract]  
Components of Other Comprehensive Income (Loss)

Components of other comprehensive income (loss)
Quarter ended
June 30, 2020
 
March 31, 2020
 
June 30, 2019
(in millions)
Pre-tax
amount

Tax
(expense)
benefit

After-tax
amount

 
Pre-tax
amount

Tax
(expense)
benefit

After-tax
amount

 
Pre-tax
amount

Tax
(expense)
benefit

After-tax
amount

Foreign currency translation:
 
 
 
 
 
 
 
 
 
 
 
Foreign currency translation adjustments arising during the period (a)
$
104

$
11

$
115

 
$
(265
)
$
(104
)
$
(369
)
 
$
29

$
(19
)
$
10

Total foreign currency translation
104

11

115

 
(265
)
(104
)
(369
)
 
29

(19
)
10

Unrealized gain (loss) on assets available-for-sale:
 
 
 
 
 
 
 
 
 
 
 
Unrealized gain (loss) arising during period
989

(236
)
753

 
243

(60
)
183

 
384

(97
)
287

Reclassification adjustment (b)
(9
)
2

(7
)
 
(9
)
2

(7
)
 
(7
)
2

(5
)
Net unrealized gain (loss) on assets available-for-sale
980

(234
)
746

 
234

(58
)
176

 
377

(95
)
282

Defined benefit plans:
 
 
 
 
 
 
 
 
 
 
 
Amortization of prior service credit, net loss and initial obligation included in net periodic benefit cost (b)
24

(5
)
19

 
24

(6
)
18

 
12

(2
)
10

Total defined benefit plans
24

(5
)
19

 
24

(6
)
18

 
12

(2
)
10

Unrealized gain (loss) on cash flow hedges:
 
 
 
 
 
 
 
 
 
 
 
Unrealized hedge gain (loss) arising during period
3

(1
)
2

 
(13
)
3

(10
)
 
2

(2
)
—

Reclassification of net (gain) loss to net income:
 
 
 
 
 
 
 
 
 
 
 
Foreign exchange (“FX”) contracts - staff expense
3

(1
)
2

 
(1
)
—

(1
)
 
—

—

—

Total reclassifications to net income
3

(1
)
2

 
(1
)
—

(1
)
 
—

—

—

Net unrealized gain (loss) on cash flow hedges
6

(2
)
4

 
(14
)
3

(11
)
 
2

(2
)
—

Total other comprehensive income (loss)
$
1,114

$
(230
)
$
884

 
$
(21
)
$
(165
)
$
(186
)
 
$
420

$
(118
)
$
302


(a)
Includes the impact of hedges of net investments in foreign subsidiaries. See Note 17 for additional information.
(b)
The reclassification adjustment related to the unrealized gain (loss) on assets available-for-sale is recorded as net securities gains on the consolidated income statement. The amortization of prior service credit, net loss and initial obligation included in net periodic benefit cost is recorded as staff expense on the consolidated income statement.


Components of other comprehensive income (loss)
Year-to-date
 
June 30, 2020
 
June 30, 2019
(in millions)
Pre-tax
amount

Tax
(expense)
benefit

After-tax
amount

 
Pre-tax
amount

Tax
(expense)
benefit

After-tax
amount

Foreign currency translation:
 
 
 
 
 
 
 
Foreign currency translation adjustments arising during the period (a)
$
(161
)
$
(93
)
$
(254
)
 
$
56

$
(17
)
$
39

Total foreign currency translation
(161
)
(93
)
(254
)
 
56

(17
)
39

Unrealized gain (loss) on assets available-for-sale:
 
 
 
 
 
 
 
Unrealized gain (loss) arising during period
1,232

(296
)
936

 
706

(180
)
526

Reclassification adjustment (b)
(18
)
4

(14
)
 
(8
)
2

(6
)
Net unrealized gain (loss) on assets available-for-sale
1,214

(292
)
922

 
698

(178
)
520

Defined benefit plans:
 
 
 
 
 
 
 
Net gain (loss) arising during the period
—

—

—

 
(11
)
2

(9
)
Amortization of prior service credit, net loss and initial obligation included in net periodic benefit cost (b)
48

(11
)
37

 
25

(5
)
20

Total defined benefit plans
48

(11
)
37

 
14

(3
)
11

Unrealized (loss) gain on cash flow hedges:
 
 
 
 
 
 
 
Unrealized hedge (loss) gain arising during period
(10
)
2

(8
)
 
8

(6
)
2

Reclassification of net loss (gain) to net income:
 
 
 
 
 
 
 
FX contracts - staff expense
2

(1
)
1

 
1

2

3

Total reclassifications to net income
2

(1
)
1

 
1

2

3

Net unrealized (loss) gain on cash flow hedges
(8
)
1

(7
)
 
9

(4
)
5

Total other comprehensive income (loss)
$
1,093

$
(395
)
$
698

 
$
777

$
(202
)
$
575

(a)
Includes the impact of hedges of net investments in foreign subsidiaries. See Note 17 for additional information.
(b)
The reclassification adjustment related to the unrealized gain (loss) on assets available-for-sale is recorded as net securities gains on the consolidated income statement. The amortization of prior service credit, net loss and initial obligation included in net periodic benefit cost is recorded as staff expense on the consolidated income statement.