Accumulated Other Comprehensive Income (Loss) (Tables)

6 Months Ended

Jun. 30, 2022

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 June 30 (Dollars in Millions)	Unrealized Gains (Losses) on Investment Securities Available-For- Sale			Unrealized Gains (Losses) on Investment 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
2022
Balance at beginning of period	$	(4,518	)	$	(904	)	$	(77	)	$	(1,402	)	$	(37	)	$	(6,938	)
Changes in unrealized gains (losses)		(4,761	)		—			98			—			—			(4,663	)
Transfer of securities from available-for-sale to held-to-maturity		1,381			(1,381	)		—			—			—			—
Foreign currency translation adjustment (a)		—			—			—			—			(3	)		(3	)
Reclassification to earnings of realized (gains) losses		(19	)		61			10			32			—			84
Applicable income taxes		859			334			(27	)		(8	)		1			1,159
Balance at end of period	$	(7,058	)	$	(1,890	)	$	4		$	(1,378	)	$	(39	)	$	(10,361	)
2021
Balance at beginning of period	$	(125	)	$	—		$	(112	)	$	(1,813	)	$	(45	)	$	(2,095	)
Changes in unrealized gains (losses)		1,195			—			14			—			—			1,209
Foreign currency translation adjustment (a)		—			—			—			—			(1	)		(1	)
Reclassification to earnings of realized (gains) losses		(43	)		—			(8	)		40			—			(11	)
Applicable income taxes		(292	)		—			(1	)		(10	)		(1	)		(304	)
Balance at end of period	$	735		$	—		$	(107	)	$	(1,783	)	$	(47	)	$	(1,202	)

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

Six Months Ended June 30 (Dollars in Millions)	Unrealized Gains (Losses) on Investment Securities Available-For- Sale			Unrealized Gains (Losses) on Investment 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
2022
Balance at beginning of period	$	540		$	(935	)	$	(85	)	$	(1,426	)	$	(37	)	$	(1,943	)
Changes in unrealized gains (losses)		(11,515	)		—			98			—			—			(11,417	)
Transfer of securities from available-for-sale to held-to-maturity		1,381			(1,381	)		—			—			—			—
Foreign currency translation adjustment (a)		—			—			—			—			(3	)		(3	)
Reclassification to earnings of realized (gains) losses		(37	)		103			21			64			—			151
Applicable income taxes		2,573			323			(30	)		(16	)		1			2,851
Balance at end of period	$	(7,058	)	$	(1,890	)	$	4		$	(1,378	)	$	(39	)	$	(10,361	)
2021
Balance at beginning of period	$	2,417		$	—		$	(189	)	$	(1,842	)	$	(64	)	$	322
Changes in unrealized gains (losses)		(2,183	)		—			113			—			—			(2,070	)
Foreign currency translation adjustment (a)		—			—			—			—			24			24
Reclassification to earnings of realized (gains) losses		(68	)		—			(4	)		79			—			7
Applicable income taxes		569			—			(27	)		(20	)		(7	)		515
Balance at end of period	$	735		$	—		$	(107	)	$	(1,783	)	$	(47	)	$	(1,202	)

(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 June 30						Six Months Ended June 30
(Dollars in Millions)	2022			2021			2022			2021
Unrealized gains (losses) on investment securities available-for-sale
Realized gains (losses) on sale of investment securities	$	19		$	43		$	37		$	68		Securities gains (losses), net
		(5	)		(11)			(9)			(17)		Applicable income taxes
		14			32			28			51		Net-of-tax
Unrealized gains (losses) on investment securities transferred from available-for-sale to held-to-maturity
Amortization of unrealized gains		(61	)		—			(103	)		—		Interest income
		16			—			26			—		Applicable income taxes
		(45	)		—			(77)			—		Net-of-tax
Unrealized gains (losses) on derivative hedges
Realized gains (losses) on derivative hedges		(10	)		8			(21	)		4		Interest expense
		2			(2)			5			(1)		Applicable income taxes
		(8)			6			(16)			3		Net-of-tax
Unrealized gains (losses) on retirement plans
Actuarial gains (losses) and prior service cost (credit) amortization		(32	)		(40	)		(64	)		(79	)	Other noninterest expense
		8			10			16			20		Applicable income taxes
		(24)			(30)			(48)			(59)		Net-of-tax
Total impact to net income	$	(63	)	$	8		$	(113	)	$	(5)