Accumulated Other Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 2011

Accumulated Other Comprehensive Income (Loss) [Abstract]

Accumulated Other Comprehensive Income (Loss)

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

Other comprehensive income (loss) includes the change in net unrealized gains and losses on investment securities available-for-sale, the change in accumulated net gains and losses on cash flow hedges and the change in the accumulated defined benefit and other postretirement plans adjustment. Total comprehensive income (loss) was $426 million, $224 million and $(10) million for the years ended December 31, 2011, 2010 and 2009, respectively. The $202 million increase in total comprehensive income for the year ended December 31, 2011, when compared to 2010, resulted primarily from a $116 million increase in net income and a $112 million after-tax increase in net unrealized gains on investment securities available-for-sale. The following table presents reconciliations of the components of accumulated other comprehensive income (loss) for the years ended December 31, 2011, 2010 and 2009.

For further discussion of the effects of investment securities available-for-sale, derivative instruments and defined benefit and other postretirement benefit plans on other comprehensive income (loss) refer to Notes 1, 9 and 18, respectively.

(in millions)
Years Ended December 31	2011			2010			2009
Accumulated net unrealized gains on investment securities available-for-sale:
Balance at beginning of period, net of tax	$	14		$	11		$	131
Net unrealized holding gains arising during the period	202			12			56
Less: Reclassification adjustment for net gains included in net income	21			8			245
Change in net unrealized gains before income taxes	181			4			(189		)
Less: Provision for income taxes	66			1			(69		)
Change in net unrealized gains on investment securities available-for-sale, net of tax	115			3			(120		)
Balance at end of period, net of tax	$	129		$	14		$	11
Accumulated net gains on cash flow hedges:
Balance at beginning of period, net of tax	$	2		$	18		$	30
Net cash flow hedge gains (losses) arising during the period	(2		)	2			15
Less: Reclassification adjustment for net gains included in net income	1			28			34
Change in net cash flow hedge gains before income taxes	(3		)	(26		)	(19		)
Less: Provision for income taxes	(1		)	(10		)	(7		)
Change in net cash flow hedge gains, net of tax	(2		)	(16		)	(12		)
Balance at end of period, net of tax	$	—		$	2		$	18
Accumulated defined benefit pension and other postretirement plans adjustment:
Balance at beginning of period, net of tax	$	(405	)	$	(365	)	$	(470	)
Net defined benefit pension and other postretirement adjustment arising during the period	(176		)	(100		)	112
Less: Adjustment for amounts recognized as components of net periodic benefit cost during the period	(49		)	(39		)	(53		)
Change in defined benefit pension and other postretirement plans adjustment before income taxes	(127		)	(61		)	165
Less: Provision for income taxes	(47		)	(21		)	60
Change in defined benefit pension and other postretirement plans adjustment, net of tax	(80		)	(40		)	105
Balance at end of period, net of tax	$	(485	)	$	(405	)	$	(365	)
Total accumulated other comprehensive loss at end of period, net of tax	$	(356	)	$	(389	)	$	(336	)