Accumulated Other Comprehensive Income (Loss) (Tables)

9 Months Ended

Sep. 30, 2023

The table below presents the changes in accumulated OCI after-tax for the nine months ended September 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	(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)

Balance, December 31, 2022	$	(2,983)	$	(881)	$	(11,935)	$	(4,309)	$	(1,048)	$	(21,156)
Net change	81		(419)		(317)		25		(6)		(636)
Balance, September 30, 2023	$	(2,902)	$	(1,300)	$	(12,252)	$	(4,284)	$	(1,054)	$	(21,792)

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 nine months ended September 30, 2023 and 2022.



	Pretax		Tax effect		After- tax		Pretax		Tax effect		After- tax
	Nine Months Ended September 30
(Dollars in millions)	2023						2022
Debt securities:



Net increase (decrease) in fair value	$	(306)	$	84	$	(222)	$	(8,417)	$	2,064	$	(6,353)



Net realized (gains) losses reclassified into earnings (1)	404		(101)		303		(37)		9		(28)
Net change	98		(17)		81		(8,454)		2,073		(6,381)




Debit valuation adjustments:
Net increase (decrease) in fair value	(560)		136		(424)		1,698		(411)		1,287
Net realized (gains) losses reclassified into earnings (1)	7		(2)		5		14		(3)		11

Net change	(553)		134		(419)		1,712		(414)		1,298
Derivatives:
Net increase (decrease) in fair value	(1,027)		261		(766)		(14,681)		3,673		(11,008)
Reclassifications into earnings:
Net interest income	616		(153)		463		182		(46)		136


Compensation and benefits expense	(18)		4		(14)		(24)		6		(18)
Net realized (gains) losses reclassified into earnings	598		(149)		449		158		(40)		118

Net change	(429)		112		(317)		(14,523)		3,633		(10,890)
Employee benefit plans:




Net actuarial losses and other reclassified into earnings (2)	36		(11)		25		135		(38)		97

Net change	36		(11)		25		135		(38)		97
Foreign currency:
Net increase (decrease) in fair value	80		(75)		5		726		(774)		(48)
Net realized (gains) losses reclassified into earnings (1)	(44)		33		(11)		—		1		1

Net change	36		(42)		(6)		726		(773)		(47)
Total other comprehensive income (loss)	$	(812)	$	176	$	(636)	$	(20,404)	$	4,481	$	(15,923)

(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.