Other comprehensive income (loss)

9 Months Ended

Sep. 30, 2021

Equity [Abstract]

Other comprehensive income (loss)

Other comprehensive income (loss)

Components of other comprehensive income (loss)	Quarter ended
	Sept. 30, 2021						June 30, 2021						Sept. 30, 2020
(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)	$	(158)	$	(44)	$	(202)	$	38	$	13	$	51	$	262	$	69	$	331
Total foreign currency translation	(158)		(44)		(202)		38		13		51		262		69		331
Unrealized gain (loss) on assets available-for-sale:
Unrealized (loss) gain arising during period	(201)		51		(150)		106		(29)		77		297		(64)		233
Reclassification adjustment (b)	(2)		—		(2)		(2)		1		(1)		(9)		3		(6)
Net unrealized (loss) gain on assets available-for-sale	(203)		51		(152)		104		(28)		76		288		(61)		227
Defined benefit plans:
Amortization of prior service credit, net loss and initial obligation included in net periodic benefit cost (b)	28		(6)		22		27		(2)		25		24		(4)		20
Total defined benefit plans	28		(6)		22		27		(2)		25		24		(4)		20
Unrealized (loss) gain on cash flow hedges:
Unrealized hedge gain arising during period	1		—		1		—		—		—		9		(1)		8
Reclassification of net loss (gain) to net income:
FX contracts – staff expense	(2)		—		(2)		(4)		1		(3)		—		—		—
Total reclassifications to net income	(2)		—		(2)		(4)		1		(3)		—		—		—
Net unrealized (loss) gain on cash flow hedges	(1)		—		(1)		(4)		1		(3)		9		(1)		8
Total other comprehensive (loss) income	$	(334)	$	1	$	(333)	$	165	$	(16)	$	149	$	583	$	3	$	586

(a)    Includes the impact of hedges of net investments in foreign subsidiaries. See Note 16 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 other expense on the consolidated income statement.

Components of other comprehensive income (loss)	Year-to-date
	Sept. 30, 2021						Sept. 30, 2020
(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)	$	(247)	$	(54)	$	(301)	$	101	$	(24)	$	77
Total foreign currency translation	(247)		(54)		(301)		101		(24)		77
Unrealized (loss) gain on assets available-for-sale:
Unrealized (loss) gain arising during period	(1,021)		245		(776)		1,529		(360)		1,169
Reclassification adjustment (b)	(4)		1		(3)		(27)		7		(20)
Net unrealized (loss) gain on assets available-for-sale	(1,025)		246		(779)		1,502		(353)		1,149
Defined benefit plans:
Amortization of prior service credit, net loss and initial obligation included in net periodic benefit cost (b)	83		(14)		69		72		(15)		57
Total defined benefit plans	83		(14)		69		72		(15)		57
Unrealized gain (loss) on cash flow hedges:
Unrealized hedge gain (loss) arising during period	2		—		2		(1)		1		—
Reclassification of net (gains) losses to net income:
FX contracts – staff expense	(11)		2		(9)		2		(1)		1
Total reclassifications to net income	(11)		2		(9)		2		(1)		1
Net unrealized (loss) on cash flow hedges	(9)		2		(7)		1		—		1
Total other comprehensive (loss) income	$	(1,198)	$	180	$	(1,018)	$	1,676	$	(392)	$	1,284

(a)    Includes the impact of hedges of net investments in foreign subsidiaries. See Note 16 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 other expense on the consolidated income statement.