Components of Other Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 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 years ended December 31, 2023, 2022, and 2021:

Table 8.13.1

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

(Dollars in millions)	Securities AFS		Cash Flow Hedges		Pension and Post-retirement Plans		Total
Balance as of December 31, 2020	$	108	$	12	$	(260)	$	(140)
Net unrealized gains (losses)	(144)		(3)		(2)		(149)
Amounts reclassified from AOCI	—		(7)		8		1
Other comprehensive income (loss)	(144)		(10)		6		(148)
Balance as of December 31, 2021	$	(36)	$	2	$	(254)	$	(288)
Net unrealized gains (losses)	(937)		(144)		(22)		(1,103)
Amounts reclassified from AOCI	—		15		8		23
Other comprehensive income (loss)	(937)		(129)		(14)		(1,080)
Balance as of December 31, 2022	$	(973)	$	(127)	$	(268)	$	(1,368)
Net unrealized gains (losses)	137		(5)		(11)		121
Amounts reclassified from AOCI	—		52		7		59
Other comprehensive income (loss)	137		47		(4)		180
Balance as of December 31, 2023	$	(836)	$	(80)	$	(272)	$	(1,188)

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

Table 8.13.2

RECLASSIFICATIONS FROM AOCI

(Dollars in millions)
Details about AOCI	2023		2022		2021		Affected line item in the statement where net income is presented
Cash flow hedges:
Realized (gains) losses on cash flow hedges	$	69	$	20	$	(9)	Interest and fees on loans and leases
Tax expense (benefit)	(17)		(5)		2		Income tax expense
	$	52	$	15	$	(7)
Pension and Postretirement Plans:
Amortization of prior service cost and net actuarial (gain) loss	$	9	$	10	$	10	Other expense
Tax expense (benefit)	(2)		(2)		(2)		Income tax expense
	7		8		8
Total reclassification from AOCI	$	59	$	23	$	1