Components of Other Comprehensive Income (Loss)

9 Months Ended

Sep. 30, 2023

Other Comprehensive Income (Loss), Net of Tax [Abstract]

Components of Other Comprehensive Income (Loss)

Components of Other Comprehensive Income (Loss)

The following table provides the changes in accumulated other comprehensive income (loss) by component, net of tax, for the three and nine months ended September 30, 2023 and 2022:

ACCUMULATED OTHER COMPREHENSIVE INCOME

(Dollars in millions)	Securities AFS		Cash Flow Hedges		Pension and Post-retirement Plans		Total
Balance as of July 1, 2023	$	(964)	$	(129)	$	(266)	$	(1,359)
Net unrealized gains (losses)	(206)		(34)		1		(239)
Amounts reclassified from AOCI	—		14		2		16
Other comprehensive income (loss)	(206)		(20)		3		(223)
Balance as of September 30, 2023	$	(1,170)	$	(149)	$	(263)	$	(1,582)
(Dollars in millions)	Securities AFS		Cash Flow Hedges		Pension and Post-retirement Plans		Total
Balance as of January 1, 2023	$	(973)	$	(127)	$	(268)	$	(1,368)
Net unrealized gains (losses)	(197)		(60)		(1)		(258)
Amounts reclassified from AOCI	—		38		6		44
Other comprehensive income (loss)	(197)		(22)		5		(214)
Balance as of September 30, 2023	$	(1,170)	$	(149)	$	(263)	$	(1,582)

(Dollars in millions)	Securities AFS		Cash Flow Hedges		Pension and Post-retirement Plans		Total
Balance as of July 1, 2022	$	(671)	$	(40)	$	(252)	$	(963)
Net unrealized gains (losses)	(368)		(103)		—		(471)
Amounts reclassified from AOCI	—		4		3		7
Other comprehensive income (loss)	(368)		(99)		3		(464)
Balance as of September 30, 2022	$	(1,039)	$	(139)	$	(249)	$	(1,427)
(Dollars in millions)	Securities AFS		Cash Flow Hedges		Pension and Post-retirement Plans		Total
Balance as of January 1, 2022	$	(36)	$	3	$	(255)	$	(288)
Net unrealized gains (losses)	(1,003)		(149)		—		(1,152)
Amounts reclassified from AOCI	—		7		6		13
Other comprehensive income (loss)	(1,003)		(142)		6		(1,139)
Balance as of September 30, 2022	$	(1,039)	$	(139)	$	(249)	$	(1,427)

Reclassifications from AOCI, and related tax effects, were as follows:

RECLASSIFICATIONS FROM AOCI
(Dollars in millions)	Three Months Ended September 30,				Nine Months Ended September 30,
Details about AOCI	2023		2022		2023		2022		Affected line item in the statement where net income is presented
Cash Flow Hedges:
Realized (gains) losses on cash flow hedges	$	18	$	5	$	50	$	9	Interest and fees on loans and leases
Tax expense (benefit)	(4)		(1)		(12)		(2)		Income tax expense
	14		4		38		7
Pension and Postretirement Plans:
Amortization of prior service cost and net actuarial (gain) loss	3		4		8		8		Other expense
Tax expense (benefit)	(1)		(1)		(2)		(2)		Income tax expense
	2		3		6		6
Total reclassification from AOCI	$	16	$	7	$	44	$	13