Accumulated Other Comprehensive Income (Loss)

9 Months Ended

Sep. 30, 2022

Accumulated Other Comprehensive Income (Loss)

The table below presents the changes in accumulated OCI after-tax for the nine months ended September 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	(1,243)		292		(1,130)		170		(29)		(1,940)
Balance, September 30, 2021	$	3,879	$	(1,700)	$	(704)	$	(4,096)	$	(975)	$	(3,596)

Balance, December 31, 2021	$	3,045	$	(1,636)	$	(1,880)	$	(3,642)	$	(991)	$	(5,104)
Net change	(6,381)		1,298		(10,890)		97		(47)		(15,923)
Balance, September 30, 2022	$	(3,336)	$	(338)	$	(12,770)	$	(3,545)	$	(1,038)	$	(21,027)

The table below 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 nine months ended September 30, 2022 and 2021.



	Pretax		Tax effect		After- tax		Pretax		Tax effect		After- tax
	Nine Months Ended September 30
(Dollars in millions)	2022						2021
Debt securities:



Net increase (decrease) in fair value	$	(8,417)	$	2,064	$	(6,353)	$	(1,650)	$	410	$	(1,240)



Net realized (gains) losses reclassified into earnings (1)	(37)		9		(28)		(4)		1		(3)
Net change	(8,454)		2,073		(6,381)		(1,654)		411		(1,243)




Debit valuation adjustments:
Net increase (decrease) in fair value	1,698		(411)		1,287		365		(82)		283
Net realized (gains) losses reclassified into earnings (1)	14		(3)		11		12		(3)		9

Net change	1,712		(414)		1,298		377		(85)		292
Derivatives:
Net increase (decrease) in fair value	(14,681)		3,673		(11,008)		(1,339)		334		(1,005)
Reclassifications into earnings:
Net interest income	182		(46)		136		(125)		30		(95)


Compensation and benefits expense	(24)		6		(18)		(40)		10		(30)
Net realized (gains) losses reclassified into earnings	158		(40)		118		(165)		40		(125)

Net change	(14,523)		3,633		(10,890)		(1,504)		374		(1,130)
Employee benefit plans:




Net actuarial losses and other reclassified into earnings (2)	135		(38)		97		209		(39)		170

Net change	135		(38)		97		209		(39)		170
Foreign currency:
Net increase (decrease) in fair value	726		(774)		(48)		240		(269)		(29)
Net realized (gains) losses reclassified into earnings (1)	—		1		1		—		—		—

Net change	726		(773)		(47)		240		(269)		(29)
Total other comprehensive income (loss)	$	(20,404)	$	4,481	$	(15,923)	$	(2,332)	$	392	$	(1,940)

(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.