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Accumulated Other Comprehensive Income (Loss) (Tables)
9 Months Ended
Sep. 30, 2016
Equity [Abstract]  
Reconciliation of Transactions Affecting Accumulated Other Comprehensive Income (Loss) Included in Shareholders' Equity

The reconciliation of the transactions affecting accumulated other comprehensive income (loss) included in shareholders’ equity is as follows:

 

Three Months Ended September 30,

(Dollars in Millions)

  Unrealized Gains
(Losses) on
Securities
Available-For-
Sale
    Unrealized Gains
(Losses) on
Securities
Transferred From
Available-For-Sale
to Held-To-
Maturity
    Unrealized Gains
(Losses) on
Derivative Hedges
    Unrealized Gains
(Losses) on
Retirement Plans
    Foreign
Currency
Translation
    Total  

2016

           

Balance at beginning of period

  $ 612      $ 31      $ (133   $ (1,006   $ (66   $ (562

Changes in unrealized gains and losses

    (105            31                      (74

Foreign currency translation adjustment (a)

                                6        6   

Reclassification to earnings of realized gains and losses

    (10     (5     28        41               54   

Applicable income taxes

    44        1        (22     (16     (10     (3

Balance at end of period

  $ 541      $ 27      $ (96   $ (981   $ (70   $ (579

2015

           

Balance at beginning of period

  $ 301      $ 43      $ (125   $ (1,037   $ (47   $ (865

Changes in unrealized gains and losses

    202               (38                   164   

Foreign currency translation adjustment (a)

                                (28     (28

Reclassification to earnings of realized gains and losses

    1        (6     48        55               98   

Applicable income taxes

    (78     2        (4     (21     11        (90

Balance at end of period

  $ 426      $ 39      $ (119   $ (1,003   $ (64   $ (721

 

(a) Represents the impact of changes in foreign currency exchange rates on the Company’s investment in foreign operations and related hedges.

 

Nine Months Ended September 30,

(Dollars in Millions)

  Unrealized Gains
(Losses) on
Securities
Available-For-
Sale
    Unrealized Gains
(Losses) on
Securities
Transferred From
Available-For-Sale
to Held-To-
Maturity
    Unrealized Gains
(Losses) on
Derivative Hedges
    Unrealized Gains
(Losses) on
Retirement Plans
    Foreign
Currency
Translation
    Total  

2016

           

Balance at beginning of period

  $ 111      $ 36      $ (67   $ (1,056   $ (43   $ (1,019

Changes in unrealized gains and losses

    716               (152                   564   

Other-than-temporary impairment not recognized in earnings on securities available-for-sale

    (1                                 (1

Foreign currency translation adjustment (a)

                                (30     (30

Reclassification to earnings of realized gains and losses

    (16     (14     104        122               196   

Applicable income taxes

    (269     5        19        (47     3        (289

Balance at end of period

  $ 541      $ 27      $ (96   $ (981   $ (70   $ (579

2015

           

Balance at beginning of period

  $ 392      $ 52      $ (172   $ (1,106   $ (62   $ (896

Changes in unrealized gains and losses

    54               (61                   (7

Foreign currency translation adjustment (a)

                                (3     (3

Reclassification to earnings of realized gains and losses

    1        (20     147        167               295   

Applicable income taxes

    (21     7        (33     (64     1        (110

Balance at end of period

  $ 426      $ 39      $ (119   $ (1,003   $ (64   $ (721

 

(a) Represents the impact of changes in foreign currency exchange rates on the Company’s investment in foreign operations and related hedges.
Impact to Net Income for Items Reclassified out of Accumulated Other Comprehensive Income and into Earnings

Additional detail about the impact to net income for items reclassified out of accumulated other comprehensive income (loss) and into earnings, is as follows:

 

    Impact to Net Income     Affected Line Item in the
Consolidated Statement of Income
    Three Months Ended September 30,             Nine Months Ended September 30,    
(Dollars in Millions)   2016     2015                 2016         2015    

Unrealized gains (losses) on securities available-for-sale

              

Realized gains (losses) on sale of securities

  $ 12      $           $ 19      $      Total securities gains (losses), net

Other-than-temporary impairment recognized in earnings

    (2     (1              (3     (1  
    10        (1          16        (1   Total before tax
    (4                     (6          Applicable income taxes
    6        (1          10        (1   Net-of-tax

Unrealized gains (losses) on securities transferred from available-for-sale to held-to-maturity

              

Amortization of unrealized gains

    5        6             14        20      Interest income
    (1     (2              (5     (7   Applicable income taxes
    4        4             9        13      Net-of-tax

Unrealized gains (losses) on derivative hedges

              

Realized gains (losses) on derivative hedges

    (28     (48          (104     (147   Interest expense
    11        19                 40        57      Applicable income taxes
    (17     (29          (64     (90   Net-of-tax

Unrealized gains (losses) on retirement plans

              

Actuarial gains (losses) and prior service cost (credit) amortization

    (41     (55          (122     (167   Employee benefits expense
    16        21                 47        64      Applicable income taxes
    (25     (34          (75     (103   Net-of-tax

Total impact to net income

  $ (32   $ (60            $ (120   $ (181