Accumulated Other Comprehensive Income (Loss) (Tables)

6 Months Ended

Jun. 30, 2022

Equity [Abstract]

Schedule of Accumulated OCI

The table below presents the changes in accumulated OCI after-tax for the six months ended June 30, 2022 and 2021.

(Dollars in millions)	Debt Securities		Debit Valuation Adjustments		Derivatives		Employee Benefit Plans		Foreign Currency		Total
Balance, December 31, 2020	$	5,122	$	(1,992)	$	426	$	(4,266)	$	(946)	$	(1,656)
Net change	(1,090)		265		(699)		120		(3)		(1,407)
Balance, June 30, 2021	$	4,032	$	(1,727)	$	(273)	$	(4,146)	$	(949)	$	(3,063)
Balance, December 31, 2021	$	3,045	$	(1,636)	$	(1,880)	$	(3,642)	$	(991)	$	(5,104)
Net change	(5,269)		836		(7,187)		60		(10)		(11,570)
Balance, June 30, 2022	$	(2,224)	$	(800)	$	(9,067)	$	(3,582)	$	(1,001)	$	(16,674)

Schedule of Amounts Recognized in Other Comprehensive Income (Loss)

The following table presents the net change in fair value recorded in accumulated OCI, net realized gains and losses reclassified into earnings and other changes for each component of OCI pre- and after-tax for the six months ended June 30, 2022 and 2021.

	Pretax		Tax effect		After- tax		Pretax		Tax effect		After- tax
	Six Months Ended June 30
(Dollars in millions)	2022						2021
Debt securities:
Net increase (decrease) in fair value	$	(6,972)	$	1,719	$	(5,253)	$	(1,445)	$	355	$	(1,090)
Net realized gains reclassified into earnings (1)	(22)		6		(16)		—		—		—
Net change	(6,994)		1,725		(5,269)		(1,445)		355		(1,090)
Debit valuation adjustments:
Net increase (decrease) in fair value	1,100		(267)		833		336		(76)		260
Net realized losses reclassified into earnings (1)	3		—		3		7		(2)		5
Net change	1,103		(267)		836		343		(78)		265
Derivatives:
Net increase (decrease) in fair value	(9,621)		2,397		(7,224)		(820)		205		(615)
Reclassifications into earnings:
Net interest income	70		(18)		52		(84)		20		(64)
Compensation and benefits expense	(19)		4		(15)		(26)		6		(20)
Net realized gains reclassified into earnings	51		(14)		37		(110)		26		(84)
Net change	(9,570)		2,383		(7,187)		(930)		231		(699)
Employee benefit plans:
Net actuarial losses and other reclassified into earnings (2)	89		(29)		60		142		(22)		120
Net change	89		(29)		60		142		(22)		120
Foreign currency:
Net increase (decrease) in fair value	407		(417)		(10)		116		(119)		(3)
Net change	407		(417)		(10)		116		(119)		(3)
Total other comprehensive income (loss)	$	(14,965)	$	3,395	$	(11,570)	$	(1,774)	$	367	$	(1,407)

(1)    Reclassifications of pretax debt securities, DVA and foreign currency (gains) losses are recorded in other income in the Consolidated Statement of Income.

(2)    Reclassifications of pretax employee benefit plan costs are recorded in other general operating expense in the Consolidated Statement of Income.