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Accumulated Other Comprehensive Income
 3 Months Ended
Mar. 31, 2020
Accumulated Other Comprehensive Income  
Accumulated Other Comprehensive Income
21. 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
 
March 31, 2020 ($ in millions)
 
Pretax
    Activity    
    
Tax
    Effect    
    
Net
    Activity    
    
    Beginning    
Balance
   
Net
    Activity    
    
Ending
    Balance    
  
Unrealized holding gains on
available-for-sale
debt securities arising during period
  
 
$    1,155
 
  
 
(273
)
 
 
882
 
  
 
 
  
 
 
  
 
 
Net unrealized gains on
available-for-sale
debt securities
  
 
1,155
 
  
 
(273
)
 
 
882
 
  
 
812
 
  
 
882
 
  
 
1,694
 
                                                 
Unrealized holding gains on cash flow hedge derivatives arising during period
 
 
541
 
  
 
(114
)
 
 
427
 
  
 
 
  
 
 
  
 
 
Reclassification adjustment for net gains on cash flow hedge derivatives included in net income
 
 
(32)
 
  
 
7
 
  
 
(25)
 
  
 
 
  
 
 
  
 
 
Net unrealized gains on cash flow hedge derivatives
 
 
509
 
  
 
(107
)
 
 
402
 
  
 
422
 
  
 
402
 
  
 
824
 
                                                 
Reclassification of amounts to net periodic benefit costs
 
 
1
 
  
 
-
 
  
 
1
 
  
 
 
  
 
 
  
 
 
Defined benefit pension plans, net
 
 
1
 
  
 
-
 
  
 
1
 
  
 
(42
)
 
 
1
 
  
 
(41
)
Total
 
 
$    1,665
 
  
 
(380
)
 
 
1,285
 
  
 
1,192
 
  
 
1,285
 
  
 
2,477
 
 
 
                                                 
 
Total OCI
   
Total AOCI
 
March 31, 2019 ($ in millions)
 
Pretax
    Activity    
    
Tax
    Effect    
    
Net
    Activity    
    
Beginning
    Balance    
    
Net
    Activity    
    
Ending
    Balance    
  
Unrealized holding gains on
available-for-sale
debt securities arising during period
    
$      561    
      
(131
 )    
430
     
     
     
 
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
    
562    
      
(131
 )    
431
     
(227
 )    
431
     
204
 
                                                 
Unrealized holding gains on cash flow hedge derivatives arising during period
   
110    
      
(23
 )    
87
     
     
     
 
Reclassification adjustment for net losses on cash flow hedge derivatives included in net income
   
2    
      
-
     
2
     
     
     
 
Net unrealized gains on cash flow hedge derivatives
   
112    
      
(23
 )    
89
     
160
     
89
     
249
 
                                                 
Reclassification of amounts to net periodic benefit costs
   
1    
      
-
     
1
     
     
     
 
Defined benefit pension plans, net
   
1    
      
-
     
1
     
(45
 )    
1
     
(44
 )
Total
   
$        675    
      
(154
 )    
521
     
(112
 )    
521
     
409
 
 
 
The table below presents reclassifications out of AOCI:
                     
 
 
For the three months ended
March 31,
 
($ in millions)
 
Consolidated Statements of
                        Income Caption                        
  
        2020        
 
  
        2019        
  
Net unrealized gains on
available-for-sale
debt securities:
(b)
  
 
 
 
    
 
    Net losses included in net income
 
Securities (losses) gains, net
 
$
                 -
 
    
(1)    
  
           
 
Income before income taxes
 
 
-
 
    
(1)    
  
 
Applicable income tax expense
 
 
-
 
    
-     
  
           
 
Net income
 
 
-
 
    
(1)    
  
           
Net unrealized gains on cash flow hedge derivatives:
(b)
  
 
 
 
    
 
    Interest rate contracts related to C&I loans
 
Interest and fees on loans and leases
 
 
32
 
    
(2)    
  
           
 
Income before income taxes
 
 
32
 
    
(2)    
  
 
Applicable income tax expense
 
 
(7
)
   
-     
  
           
 
Net income
 
 
25
 
    
(2)    
  
           
Net periodic benefit costs:
(b)
  
 
 
 
    
 
    Amortization of net actuarial loss
 
Compensation and benefits
(a)
  
 
(1
)
   
(1)    
  
           
 
Income before income taxes
 
 
(1
)
   
(1)    
  
 
Applicable income tax expense
 
 
-
 
    
-     
  
           
 
Net income
 
 
(1
)
   
(1)    
  
           
 
 
 
 
    
 
           
Total reclassifications for the period
 
Net income
 
$
24
 
    
(4)    
  
 
 
 
(a)
This AOCI component is included in the computation of net periodic benefit cost. Refer to Note 24 of the Notes to Consolidated Financial Statements included in the Bancorp’s Annual Report on Form
10-K
for the year ended December 31, 2019 for further information.
 
 
 
(b)
Amounts in parentheses indicate redu
ctions to net income.