Accumulated Other Comprehensive Income (Loss) (Tables)

12 Months Ended

Dec. 31, 2022

The table below presents the changes in accumulated OCI after-tax for 2022, 2021 and 2020.



(Dollars in millions)	Debt Securities		Debit Valuation Adjustments		Derivatives		Employee Benefit Plans		Foreign Currency		Total
Balance, December 31, 2019	$	323	$	(1,494)	$	(400)	$	(4,168)	$	(894)	$	(6,633)
Net change	4,799		(498)		826		(98)		(52)		4,977










Balance, December 31, 2020	$	5,122	$	(1,992)	$	426	$	(4,266)	$	(946)	$	(1,656)
Net change	(2,077)		356		(2,306)		624		(45)		(3,448)


Balance, December 31, 2021	$	3,045	$	(1,636)	$	(1,880)	$	(3,642)	$	(991)	$	(5,104)
Net change	(6,028)		755		(10,055)		(667)		(57)		(16,052)
Balance, December 31, 2022	$	(2,983)	$	(881)	$	(11,935)	$	(4,309)	$	(1,048)	$	(21,156)

Schedule of Amounts Recognized in Other Comprehensive Income (Loss)

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 2022, 2021 and 2020.



	Pretax		Tax effect		After- tax		Pretax		Tax effect		After- tax		Pretax		Tax effect		After- tax

(Dollars in millions)	2022						2021						2020
Debt securities:



Net increase (decrease) in fair value	$	(7,995)	$	1,991	$	(6,004)	$	(2,749)	$	689	$	(2,060)	$	6,819	$	(1,712)	$	5,107



Net realized (gains) losses reclassified into earnings (1)	(32)		8		(24)		(22)		5		(17)		(411)		103		(308)
Net change	(8,027)		1,999		(6,028)		(2,771)		694		(2,077)		6,408		(1,609)		4,799




Debit valuation adjustments:
Net increase (decrease) in fair value	980		(237)		743		449		(103)		346		(669)		156		(513)
Net realized (gains) losses reclassified into earnings (1)	16		(4)		12		13		(3)		10		19		(4)		15

Net change	996		(241)		755		462		(106)		356		(650)		152		(498)
Derivatives:
Net increase (decrease) in fair value	(13,711)		3,430		(10,281)		(2,849)		703		(2,146)		1,098		(268)		830
Reclassifications into earnings:
Net interest income	332		(84)		248		(166)		48		(118)		6		(1)		5


Compensation and benefits expense	(29)		7		(22)		(55)		13		(42)		(12)		3		(9)
Net realized (gains) losses reclassified into earnings	303		(77)		226		(221)		61		(160)		(6)		2		(4)

Net change	(13,408)		3,353		(10,055)		(3,070)		764		(2,306)		1,092		(266)		826
Employee benefit plans:
Net increase (decrease) in fair value	(1,103)		276		(827)		463		(72)		391		(381)		80		(301)



Net actuarial losses and other reclassified into earnings (2)	198		(49)		149		295		(67)		228		261		(63)		198
Settlements, curtailments and other	11		—		11		5		—		5		5		—		5
Net change	(894)		227		(667)		763		(139)		624		(115)		17		(98)
Foreign currency:
Net increase (decrease) in fair value	332		(390)		(58)		296		(341)		(45)		(251)		199		(52)
Net realized (gains) losses reclassified into earnings (1)	—		1		1		(5)		5		—		(1)		1		—

Net change	332		(389)		(57)		291		(336)		(45)		(252)		200		(52)
Total other comprehensive income (loss)	$	(21,001)	$	4,949	$	(16,052)	$	(4,325)	$	877	$	(3,448)	$	6,483	$	(1,506)	$	4,977

(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.