Accumulated Other Comprehensive Loss (Tables)

9 Months Ended

Sep. 30, 2022

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Schedule Of Accumulated Other Comprehensive Loss

The following table presents a reconciliation of the changes in the components of accumulated other comprehensive loss and details the components of other comprehensive loss for the nine months ended September 30, 2022 and 2021, including the amount of income tax benefit allocated to each component of other comprehensive loss.

	Nine Months Ended September 30,
(in millions)	2022		2021
Accumulated net unrealized losses on investment securities:
Balance at beginning of period, net of tax	$	(99)	$	211
Net unrealized losses arising during the period	(2,977)		(280)
Less: Benefit for income taxes	(701)		(66)
Change in net unrealized losses on investment securities, net of tax	(2,276)		(214)
Balance at end of period, net of tax	$	(2,375)	$	(3)
Accumulated net (losses) gains on cash flow hedges:
Balance at beginning of period, net of tax	$	55	$	155
Net cash flow hedge losses arising during the period	(1,397)		(13)
Less: Benefit for income taxes	(329)		(3)
Change in net cash flow hedge (losses) gains arising during the period, net of tax	(1,068)		(10)
Less:
Net cash flow hedge gains included in interest and fees on loans	45		72
Less: Provision for income taxes	11		16
Reclassification adjustment for net cash flow hedge gains included in net income, net of tax	34		56
Change in net cash flow hedge (losses) gains, net of tax	(1,102)		(66)
Balance at end of period, net of tax (a)	$	(1,047)	$	89
Accumulated defined benefit pension and other postretirement plans adjustment:
Balance at beginning of period, net of tax	$	(168)	$	(302)
Amounts recognized in other noninterest expenses:
Amortization of actuarial net loss	21		30
Amortization of prior service credit	(18)		(19)
Total amounts recognized in other noninterest expenses	3		11
Less: Provision for income taxes	—		2
Adjustment for amounts recognized as components of net periodic benefit credit during the period, net of tax	3		9
Change in defined benefit pension and other postretirement plans adjustment, net of tax	3		9
Balance at end of period, net of tax	$	(165)	$	(293)
Total accumulated other comprehensive loss at end of period, net of tax	$	(3,587)	$	(207)

(a)The Corporation expects to reclassify $342 million of losses, net of tax, from accumulated other comprehensive loss to earnings over the next twelve months if interest yield curves and notional amounts remain at September 30, 2022 levels.