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Accumulated Other Comprehensive Income (Loss) (Tables)
 9 Months Ended
Sep. 30, 2021
Equity [Abstract]  
Reconciliation of Transactions Affecting Accumulated Other Comprehensive Income (Loss) Included in Shareholders' Equity
Shareholders' equity is affected by transactions and valuations of asset and liability positions that require adjustments to accumulated other comprehensive income (loss). 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
Investment
Securities
Available-For-
Sale
 
 
Unrealized Gains
(Losses) on
Derivative Hedges
 
 
Unrealized Gains
(Losses) on
Retirement Plans
 
 
Foreign
Currency
Translation
 
 
Total
 
2021
 
      
 
      
 
      
 
      
 
      
Balance at beginning of period
 
$
735
 
 
$
(107
) 
 
$
(1,783
) 
 
$
(47
) 
 
$
(1,202
) 
Changes in unrealized gains and losses
 
 
(825
) 
 
 
8
 
 
 
—
 
 
 
—
 
 
 
(817
) 
Foreign currency translation adjustment (a)
 
 
—
 
 
 
—
 
 
 
—
 
 
 
(1
) 
 
 
(1
) 
Reclassification to earnings of realized gains and losses
 
 
(20
) 
 
 
8
 
 
 
39
 
 
 
—
 
 
 
27
 
Applicable income taxes
 
 
215
 
 
 
(4
) 
 
 
(10
) 
 
 
—
 
 
 
201
 
Balance at end of period
 
$
105
 
 
$
(95
) 
 
$
(1,754
) 
 
$
(48
) 
 
$
(1,792
) 
2020
 
      
 
      
 
      
 
      
 
      
Balance at beginning of period
 
$
2,701
 
 
$
(240
) 
 
$
(1,589
) 
 
$
(74
) 
 
$
798
 
Changes in unrealized gains and losses
 
 
(305
) 
 
 
27
 
 
 
—
 
 
 
—
 
 
 
(278
) 
Foreign currency translation adjustment (a)
 
 
—
 
 
 
—
 
 
 
—
 
 
 
6
 
 
 
6
 
Reclassification to earnings of realized gains and losses
 
 
(12
) 
 
 
3
 
 
 
32
 
 
 
—
 
 
 
23
 
Applicable income taxes
 
 
81
 
 
 
(7
) 
 
 
(9
) 
 
 
(2
) 
 
 
63
 
Balance at end of period
 
$
2,465
 
 
$
(217
) 
 
$
(1,566
) 
 
$
(70
) 
 
$
612
 
 
(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
Investment
Securities
Available-For-
Sale
 
 
Unrealized Gains
(Losses) on
Derivative Hedges
 
 
Unrealized Gains
(Losses) on
Retirement Plans
 
 
Foreign
Currency
Translation
 
 
Total
 
2021
 
      
 
      
 
      
 
      
 
      
Balance at beginning of period
 
$
2,417
 
 
$
(189
) 
 
$
(1,842
) 
 
$
(64
) 
 
$
322
 
Changes in unrealized gains and losses
 
 
(3,008
) 
 
 
121
 
 
 
—
 
 
 
—
 
 
 
(2,887
) 
Foreign currency translation adjustment (a)
 
 
—
 
 
 
—
 
 
 
—
 
 
 
23
 
 
 
23
 
Reclassification to earnings of realized gains and losses
 
 
(88
) 
 
 
4
 
 
 
118
 
 
 
—
 
 
 
34
 
Applicable income taxes
 
 
784
 
 
 
(31
) 
 
 
(30
) 
 
 
(7
) 
 
 
716
 
Balance at end of period
 
$
105
 
 
$
(95
) 
 
$
(1,754
) 
 
$
(48
) 
 
$
(1,792
) 
2020
 
      
 
      
 
      
 
      
 
      
Balance at beginning of period
 
$
379
 
 
$
(51
) 
 
$
(1,636
) 
 
$
(65
) 
 
$
(1,373
) 
Changes in unrealized gains and losses
 
 
2,935
 
 
 
(230
) 
 
 
—
 
 
 
—
 
 
 
2,705
 
Foreign currency translation adjustment (a)
 
 
—
 
 
 
—
 
 
 
—
 
 
 
(6
) 
 
 
(6
) 
Reclassification to earnings of realized gains and losses
 
 
(143
) 
 
 
7
 
 
 
94
 
 
 
—
 
 
 
(42
) 
Applicable income taxes
 
 
(706
) 
 
 
57
 
 
 
(24
) 
 
 
1
 
 
 
(672
) 
Balance at end of period
 
$
2,465
 
 
$
(217
) 
 
$
(1,566
) 
 
$
(70
) 
 
$
612
 
 
(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)   2021     2020             2021     2020  
Unrealized gains (losses) on investment securities available-for-sale
 
              
 
                     
Realized gains (losses) on sale of investment securities
   $ 20     $ 12        
 
    $ 88     $ 143     Securities gains (losses), net
      (5 )      (3 )   
 
 
 
      (22 )      (36 )    Applicable income taxes
      15       9        
 
      66       107     Net-of-tax
Unrealized gains (losses) on derivative hedges
                      
 
                     
Realized gains (losses) on derivative hedges
     (8 )      (3 )       
 
      (4 )      (7 )    Interest expense
      2       1    
 
 
 
      1       2     Applicable income taxes
      (6 )      (2 )       
 
      (3 )      (5 )    Net-of-tax
Unrealized gains (losses) on retirement plans
                      
 
                     
Actuarial gains (losses) and prior service cost (credit) amortization
     (39 )      (32 )       
 
      (118 )      (94 )    Other noninterest expense
      10       9    
 
 
 
      30       24     Applicable income taxes
      (29 )      (23 )       
 
      (88 )      (70 )    Net-of-tax
             
Total impact to net income
   $ (20 )    $ (16 )   
 
 
 
    $ (25 )    $ 32