Accumulated Other Comprehensive Income (Loss) (Tables)

6 Months Ended

Jun. 30, 2023

Equity [Abstract]

Schedule of Accumulated OCI

The table below presents the changes in accumulated OCI after-tax for the six months ended June 30, 2023 and 2022.

(Dollars in millions)	Debt Securities		Debit Valuation Adjustments		Derivatives		Employee Benefit Plans		Foreign Currency		Total
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)
Balance, December 31, 2022	$	(2,983)	$	(881)	$	(11,935)	$	(4,309)	$	(1,048)	$	(21,156)
Net change	723		(394)		49		19		17		414
Balance, June 30, 2023	$	(2,260)	$	(1,275)	$	(11,886)	$	(4,290)	$	(1,031)	$	(20,742)

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 the six months ended June 30, 2023 and 2022.

	Pretax		Tax effect		After- tax		Pretax		Tax effect		After- tax
	Six Months Ended June 30
(Dollars in millions)	2023						2022
Debt securities:
Net increase (decrease) in fair value	$	557	$	(137)	$	420	$	(6,972)	$	1,719	$	(5,253)
Net realized (gains) losses reclassified into earnings (1)	404		(101)		303		(22)		6		(16)
Net change	961		(238)		723		(6,994)		1,725		(5,269)
Debit valuation adjustments:
Net increase (decrease) in fair value	(526)		129		(397)		1,100		(267)		833
Net realized (gains) losses reclassified into earnings (1)	4		(1)		3		3		—		3
Net change	(522)		128		(394)		1,103		(267)		836
Derivatives:
Net increase (decrease) in fair value	(280)		73		(207)		(9,621)		2,397		(7,224)
Reclassifications into earnings:
Net interest income	352		(88)		264		70		(18)		52
Compensation and benefits expense	(11)		3		(8)		(19)		4		(15)
Net realized (gains) losses reclassified into earnings	341		(85)		256		51		(14)		37
Net change	61		(12)		49		(9,570)		2,383		(7,187)
Employee benefit plans:
Net actuarial losses and other reclassified into earnings (2)	27		(8)		19		89		(29)		60
Net change	27		(8)		19		89		(29)		60
Foreign currency:
Net increase (decrease) in fair value	(97)		114		17		407		(417)		(10)
Net realized (gains) losses reclassified into earnings (1)	(1)		1		—		—		—		—
Net change	(98)		115		17		407		(417)		(10)
Total other comprehensive income (loss)	$	429	$	(15)	$	414	$	(14,965)	$	3,395	$	(11,570)

(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.