XML 43 R26.htm IDEA: XBRL DOCUMENT v3.24.0.1
Comprehensive income
 12 Months Ended
Dec. 31, 2023
Equity [Abstract]  
Comprehensive income

16. Comprehensive income

The following tables display the components of other comprehensive income (loss) and amounts reclassified from accumulated other comprehensive income (loss) to net income:

 

 

Investment

 

 

Defined Benefit

 

 

Cash Flow Hedges and

 

 

Total
Amount

 

 

Income

 

 

 

 

(Dollars in millions)

 

Securities

 

 

Plans

 

 

Other

 

 

Before Tax

 

 

Tax

 

 

Net

 

Balance — January 1, 2023

 

$

(444

)

 

$

(273

)

 

$

(349

)

 

$

(1,066

)

 

$

276

 

 

$

(790

)

Other comprehensive income before reclassifications:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

      Unrealized holding gains, net

 

 

193

 

 

 

—

 

 

 

—

 

 

 

193

 

 

 

(51

)

 

 

142

 

      Foreign currency translation adjustment

 

 

—

 

 

 

—

 

 

 

5

 

 

 

5

 

 

 

(1

)

 

 

4

 

      Unrealized losses on cash flow hedges

 

 

—

 

 

 

—

 

 

 

(116

)

 

 

(116

)

 

 

30

 

 

 

(86

)

      Current year benefit plans gains

 

 

—

 

 

 

125

 

 

 

—

 

 

 

125

 

 

 

(33

)

 

 

92

 

Total other comprehensive income (loss) before
   reclassifications

 

 

193

 

 

 

125

 

 

 

(111

)

 

 

207

 

 

 

(55

)

 

 

152

 

Amounts reclassified from accumulated other
    comprehensive income that (increase) decrease net income:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net yield adjustment from cash flow hedges
   currently in effect

 

 

—

 

 

 

—

 

 

 

250

 

 

 

250

 

(a)

 

(66

)

 

 

184

 

Amortization of prior service credit

 

 

—

 

 

 

(2

)

 

 

—

 

 

 

(2

)

(b)

 

1

 

 

 

(1

)

Amortization of actuarial gains

 

 

—

 

 

 

(5

)

 

 

—

 

 

 

(5

)

(b)

 

1

 

 

 

(4

)

Total other comprehensive income (loss)

 

 

193

 

 

 

118

 

 

 

139

 

 

 

450

 

 

 

(119

)

 

 

331

 

Balance — December 31, 2023

 

$

(251

)

 

$

(155

)

 

$

(210

)

 

$

(616

)

 

$

157

 

 

$

(459

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance — January 1, 2022

 

$

105

 

 

$

(360

)

 

$

84

 

 

$

(171

)

 

$

44

 

 

$

(127

)

Other comprehensive income before reclassifications:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unrealized holding losses, net

 

 

(551

)

 

 

—

 

 

 

—

 

 

 

(551

)

 

 

143

 

 

 

(408

)

Foreign currency translation adjustment

 

 

—

 

 

 

—

 

 

 

(8

)

 

 

(8

)

 

 

2

 

 

 

(6

)

Unrealized losses on cash flow hedges

 

 

—

 

 

 

—

 

 

 

(461

)

 

 

(461

)

 

 

119

 

 

 

(342

)

Current year benefit plans gains

 

 

—

 

 

 

71

 

 

 

—

 

 

 

71

 

 

 

(18

)

 

 

53

 

Total other comprehensive income (loss) before
   reclassifications

 

 

(551

)

 

 

71

 

 

 

(469

)

 

 

(949

)

 

 

246

 

 

 

(703

)

Amounts reclassified from accumulated other
    comprehensive income that (increase) decrease net income:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amortization of unrealized holding
   losses on held-to-maturity securities

 

 

2

 

 

 

—

 

 

 

—

 

 

 

2

 

(a)

 

(1

)

 

 

1

 

Net yield adjustment from cash flow hedges
   currently in effect

 

 

—

 

 

 

—

 

 

 

36

 

 

 

36

 

(a)

 

(9

)

 

 

27

 

Amortization of prior service credit

 

 

—

 

 

 

(2

)

 

 

—

 

 

 

(2

)

(b)

 

—

 

 

 

(2

)

Amortization of actuarial losses

 

 

—

 

 

 

18

 

 

 

—

 

 

 

18

 

(b)

 

(4

)

 

 

14

 

Total other comprehensive income (loss)

 

 

(549

)

 

 

87

 

 

 

(433

)

 

 

(895

)

 

 

232

 

 

 

(663

)

Balance — December 31, 2022

 

$

(444

)

 

$

(273

)

 

$

(349

)

 

$

(1,066

)

 

$

276

 

 

$

(790

)

 

 

 

Investment

 

 

Defined Benefit

 

 

Cash Flow Hedges and

 

 

Total
Amount

 

 

Income

 

 

 

 

(Dollars in millions)

 

Securities

 

 

Plans

 

 

Other

 

 

Before Tax

 

 

Tax

 

 

Net

 

Balance — January 1, 2021

 

$

196

 

 

$

(650

)

 

$

370

 

 

$

(84

)

 

$

22

 

 

$

(62

)

Other comprehensive income before reclassifications:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unrealized holding losses, net

 

 

(95

)

 

 

—

 

 

 

—

 

 

 

(95

)

 

 

25

 

 

 

(70

)

Foreign currency translation adjustment

 

 

—

 

 

 

—

 

 

 

(1

)

 

 

(1

)

 

 

—

 

 

 

(1

)

Unrealized losses on cash flow hedges

 

 

—

 

 

 

—

 

 

 

(32

)

 

 

(32

)

 

 

8

 

 

 

(24

)

Current year benefit plans gains

 

 

—

 

 

 

206

 

 

 

—

 

 

 

206

 

 

 

(54

)

 

 

152

 

Total other comprehensive income (loss) before
   reclassifications

 

 

(95

)

 

 

206

 

 

 

(33

)

 

 

78

 

 

 

(21

)

 

 

57

 

Amounts reclassified from accumulated other
    comprehensive income that (increase) decrease net income:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amortization of unrealized holding
   losses on held-to-maturity securities

 

 

4

 

 

 

—

 

 

 

—

 

 

 

4

 

(a)

 

(1

)

 

 

3

 

Net yield adjustment from cash flow hedges
   currently in effect

 

 

—

 

 

 

—

 

 

 

(253

)

 

 

(253

)

(a)

 

66

 

 

 

(187

)

Amortization of prior service credit

 

 

—

 

 

 

(4

)

 

 

—

 

 

 

(4

)

(b)

 

1

 

 

 

(3

)

Amortization of actuarial losses

 

 

—

 

 

 

88

 

 

 

—

 

 

 

88

 

(b)

 

(23

)

 

 

65

 

Total other comprehensive income (loss)

 

 

(91

)

 

 

290

 

 

 

(286

)

 

 

(87

)

 

 

22

 

 

 

(65

)

Balance — December 31, 2021

 

$

105

 

 

$

(360

)

 

$

84

 

 

$

(171

)

 

$

44

 

 

$

(127

)

 

(a)
Included in interest income.
(b)
Included in other costs of operations.

Accumulated other comprehensive income (loss), net consisted of the following:

(Dollars in millions)

 

Investment
Securities

 

 

Defined
Benefit Plans

 

 

Cash Flow
Hedges and
Other

 

 

Total

 

 

Balance at January 1, 2021

 

$

145

 

 

$

(481

)

 

$

274

 

 

$

(62

)

 

Net gain (loss) during 2021

 

 

(67

)

 

 

214

 

 

 

(212

)

 

 

(65

)

 

Balance at December 31, 2021

 

 

78

 

 

 

(267

)

 

 

62

 

 

 

(127

)

 

Net gain (loss) during 2022

 

 

(407

)

 

 

65

 

 

 

(321

)

 

 

(663

)

 

Balance at December 31, 2022

 

 

(329

)

 

 

(202

)

 

 

(259

)

 

 

(790

)

 

Net gain during 2023

 

 

142

 

 

 

87

 

 

 

102

 

 

 

331

 

 

Balance at December 31, 2023

 

$

(187

)

 

$

(115

)

 

$

(157

)

 

$

(459

)