Other comprehensive income (loss) (Tables)

9 Months Ended

Sep. 30, 2022

Equity [Abstract]

Components of Other Comprehensive Income (Loss)

Components of other comprehensive income (loss)	Quarter ended
	Sept. 30, 2022						June 30, 2022						Sept. 30, 2021
(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)	$	(292)	$	(150)	$	(442)	$	(436)	$	(119)	$	(555)	$	(158)	$	(44)	$	(202)
Total foreign currency translation	(292)		(150)		(442)		(436)		(119)		(555)		(158)		(44)		(202)
Unrealized (loss) on assets available-for-sale:
Unrealized (loss) arising during period	(1,205)		297		(908)		(1,167)		285		(882)		(201)		51		(150)
Reclassification adjustment (b)	(1)		—		(1)		—		—		—		(2)		—		(2)
Net unrealized (loss) on assets available-for-sale	(1,206)		297		(909)		(1,167)		285		(882)		(203)		51		(152)
Defined benefit plans:
Amortization of prior service credit, net loss and initial obligation included in net periodic benefit cost (b)	17		(4)		13		17		(4)		13		28		(6)		22
Total defined benefit plans	17		(4)		13		17		(4)		13		28		(6)		22
Unrealized (loss) gain on cash flow hedges:
Unrealized hedge (loss) gain arising during period	(5)		1		(4)		(8)		2		(6)		1		—		1
Reclassification of net loss (gain) to net income:
Foreign exchange (“FX”) contracts – staff expense	3		(1)		2		1		—		1		(2)		—		(2)
FX contracts – investment and other revenue	1		—		1		—		—		—		—		—		—
Total reclassifications to net income	4		(1)		3		1		—		1		(2)		—		(2)
Net unrealized (loss) on cash flow hedges	(1)		—		(1)		(7)		2		(5)		(1)		—		(1)
Total other comprehensive (loss)	$	(1,482)	$	143	$	(1,339)	$	(1,593)	$	164	$	(1,429)	$	(334)	$	1	$	(333)

(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, which is included in investment and other revenue 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, 2022						Sept. 30, 2021
(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)	$	(848)	$	(302)	$	(1,150)	$	(247)	$	(54)	$	(301)
Total foreign currency translation	(848)		(302)		(1,150)		(247)		(54)		(301)
Unrealized (loss) on assets available-for-sale:
Unrealized (loss) arising during period	(4,393)		1,072		(3,321)		(1,021)		245		(776)
Reclassification adjustment (b)	(5)		1		(4)		(4)		1		(3)
Net unrealized (loss) on assets available-for-sale	(4,398)		1,073		(3,325)		(1,025)		246		(779)
Defined benefit plans:
Amortization of prior service credit, net loss and initial obligation included in net periodic benefit cost (b)	51		(7)		44		83		(14)		69
Total defined benefit plans	51		(7)		44		83		(14)		69
Unrealized (loss) gain on cash flow hedges:
Unrealized hedge (loss) gain arising during period	(16)		4		(12)		2		—		2
Reclassification of net losses (gains) to net income:
FX contracts – staff expense	4		(1)		3		(11)		2		(9)
FX contracts – investment and other revenue	1		—		1		—		—		—
Total reclassifications to net income	5		(1)		4		(11)		2		(9)
Net unrealized (loss) on cash flow hedges	(11)		3		(8)		(9)		2		(7)
Total other comprehensive (loss)	$	(5,206)	$	767	$	(4,439)	$	(1,198)	$	180	$	(1,018)

(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, which is included in investment and other revenue 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.