Accumulated Other Comprehensive Income (Loss) (Tables)

6 Months Ended

Jun. 30, 2023

Equity [Abstract]

Reconciliation of Transactions Affecting Accumulated Other Comprehensive Income (Loss) Included in Shareholders' Equity

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
2023
Balance at beginning of period	$	(5,369	)	$	(3,843	)	$	43		$	(940	)	$	(44	)	$	(10,153	)
Changes in unrealized gains (losses)		(460	)		—			(465	)		—			—			(925	)
Foreign currency translation adjustment (a)		—			—			—			—			19			19
Reclassification to earnings of realized (gains) losses		(3	)		141			11			(2	)		—			147
Applicable income taxes		116			(35	)		117			1			(5	)		194
Balance at end of period	$	(5,716	)	$	(3,737	)	$	(294	)	$	(941	)	$	(30	)	$	(10,718	)
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	)

(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
2023
Balance at beginning of period	$	(6,378	)	$	(3,933	)	$	(114	)	$	(939	)	$	(43	)	$	(11,407	)
Changes in unrealized gains (losses)		845			—			(261	)		1			—			585
Foreign currency translation adjustment (a)		—			—			—			—			18			18
Reclassification to earnings of realized (gains) losses		29			262			18			(4	)		—			305
Applicable income taxes		(212	)		(66	)		63			1			(5	)		(219	)
Balance at end of period	$	(5,716	)	$	(3,737	)	$	(294	)	$	(941	)	$	(30	)	$	(10,718	)
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	)

(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
	Three Months Ended June 30						Six Months Ended June 30						Affected Line Item in the Consolidated Statement of Income
(Dollars in Millions)	2023			2022			2023			2022
Unrealized gains (losses) on investment securities available-for-sale
Realized gains (losses) on sale of investment securities	$	3		$	19		$	(29	)	$	37		Securities gains (losses), net
		(1)			(5)			7			(9)		Applicable income taxes
		2			14			(22)			28		Net-of-tax
Unrealized gains (losses) on investment securities transferred from available-for-sale to held-to-maturity
Amortization of unrealized gains (losses)		(141	)		(61	)		(262	)		(103	)	Interest income
		35			16			66			26		Applicable income taxes
		(106)			(45)			(196)			(77)		Net-of-tax
Unrealized gains (losses) on derivative hedges
Realized gains (losses) on derivative hedges		(11	)		(10	)		(18	)		(21	)	Interest expense
		3			2			4			5		Applicable income taxes
		(8)			(8)			(14)			(16)		Net-of-tax
Unrealized gains (losses) on retirement plans
Actuarial gains (losses) and prior service cost (credit) amortization		2			(32	)		4			(64	)	Other noninterest expense
		(1)			8			(1)			16		Applicable income taxes
		1			(24)			3			(48)		Net-of-tax
Total impact to net income	$	(111	)	$	(63	)	$	(229	)	$	(113	)