Accumulated Other Comprehensive Income

6 Months Ended

Jun. 30, 2019

Accumulated Other Comprehensive Income

Accumulated Other Comprehensive Income

23. Accumulated Other Comprehensive Income

The tables below present the activity of the components of OCI and AOCI for the three months ended:
			Total OCI			Total AOCI
			Pretax	Tax	Net	Beginning	Net	Ending
June 30, 2019 ($ in millions)			Activity	Effect	Activity	Balance	Activity	Balance
Unrealized holding gains on available-for-sale debt securities
	arising during period	$	758	(181)	577
Reclassification adjustment for net gains on available-for-sale
	debt securities included in net income		-	-	-
Net unrealized gains on available-for-sale debt securities			758	(181)	577	204	577	781
Unrealized holding gains on cash flow hedge derivatives arising
	during period		240	(50)	190
Reclassification adjustment for net losses on cash flow hedge
	derivatives included in net income		1	-	1
Net unrealized gains on cash flow hedge derivatives			241	(50)	191	249	191	440
Reclassification of amounts to net periodic benefit costs			1	-	1
Defined benefit pension plans, net			1	-	1	(44)	1	(43)
Total		$	1,000	(231)	769	409	769	1,178

			Total OCI			Total AOCI
			Pretax	Tax	Net	Beginning	Net	Ending
June 30, 2018 ($ in millions)			Activity	Effect	Activity	Balance	Activity	Balance
Unrealized holding losses on available-for-sale securities arising
	during period	$	(217)	50	(167)
Reclassification adjustment for net gains on available-for-sale
	securities included in net income		-	-	-
Net unrealized losses on available-for-sale securities			(217)	50	(167)	(318)	(167)	(485)
Unrealized holding gains on cash flow hedge derivatives arising
	during period		4	(1)	3
Reclassification adjustment for net gains on cash flow hedge
	derivatives included in net income		-	-	-
Net unrealized losses on cash flow hedge derivatives			4	(1)	3	(19)	3	(16)
Reclassification of amounts to net periodic benefit costs			1	-	1
Defined benefit pension plans, net			1	-	1	(52)	1	(51)
Total		$	(212)	49	(163)	(389)	(163)	(552)

The tables below present the activity of the components of OCI and AOCI for the six months ended:
			Total OCI			Total AOCI
			Pretax	Tax	Net	Beginning	Net	Ending
June 30, 2019 ($ in millions)			Activity	Effect	Activity	Balance	Activity	Balance
Unrealized holding gains on available-for-sale debt securities arising
	during period	$	1,319	(312)	1,007
Reclassification adjustment for net losses on available-for-sale
	debt securities included in net income		1	-	1
Net unrealized gains on available-for-sale debt securities			1,320	(312)	1,008	(227)	1,008	781
Unrealized holding gains on cash flow hedge derivatives arising
	during period		351	(74)	277
Reclassification adjustment for net losses on cash flow hedge
	derivatives included in net income		3	-	3
Net unrealized gains on cash flow hedge derivatives			354	(74)	280	160	280	440
Reclassification of amounts to net periodic benefit costs			2	-	2
Defined benefit pension plans, net			2	-	2	(45)	2	(43)
Total		$	1,676	(386)	1,290	(112)	1,290	1,178

			Total OCI			Total AOCI
			Pretax	Tax	Net	Beginning	Net	Ending
June 30, 2018 ($ in millions)			Activity	Effect	Activity	Balance	Activity	Balance
Unrealized holding losses on available-for-sale debt securities
	arising during period	$	(811)	184	(627)
Reclassification adjustment for net losses on available-for-sale
	debt securities included in net income		9	(2)	7
Net unrealized losses on available-for-sale debt securities			(802)	182	(620)	135	(620)	(485)
Unrealized holding losses on cash flow hedge derivatives arising
	during period		(5)	1	(4)
Reclassification adjustment for net gains on cash flow hedge
	derivatives included in net income		(1)	-	(1)
Net unrealized losses on cash flow hedge derivatives			(6)	1	(5)	(11)	(5)	(16)
Reclassification of amounts to net periodic benefit costs			2	-	2
Defined benefit pension plans, net			2	-	2	(53)	2	(51)
Total		$	(806)	183	(623)	71	(623)	(552)

The table below presents reclassifications out of AOCI:
			For the three months		For the six months
	Condensed Consolidated		ended June 30,		ended June 30,
($ in millions)	Statements of Income Caption		2019	2018	2019	2018
Net unrealized gains (losses) on available-for-sale debt securities:(b)
Net losses included in net income	Securities gains (losses), net	$	-	-	(1)	(9)
	Income before income taxes		-	-	(1)	(9)
	Applicable income tax expense		-	-	-	2
	Net income		-	-	(1)	(7)
Net unrealized gains (losses) on cash flow hedge derivatives:(b)
Interest rate contracts related to C&I loans	Interest and fees on loans and leases		(1)	-	(3)	1
	Income before income taxes		(1)	-	(3)	1
	Applicable income tax expense		-	-	-	-
	Net income		(1)	-	(3)	1
Net periodic benefit costs:(b)
Amortization of net actuarial loss	Employee benefits expense(a)		(1)	(1)	(2)	(2)
	Income before income taxes		(1)	(1)	(2)	(2)
	Applicable income tax expense		-	-	-	-
	Net income		(1)	(1)	(2)	(2)
Total reclassifications for the period	Net income	$	(2)	(1)	(6)	(8)

This AOCI component is included in the computation of net periodic benefit cost. Refer to Note 20 of the Notes to Consolidated Financial Statements included in the Bancorp’s Annual Report on Form 10-K for the year ended December 31, 2018 for further information.Amounts in parentheses indicate reductions to net income.