Accumulated Other Comprehensive Income (Loss) (Tables)

12 Months Ended

Dec. 31, 2023

Equity [Abstract]

Schedule of Accumulated OCI

The table below presents the changes in accumulated OCI after-tax for 2023, 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	(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)
Net change	573		(686)		3,919		(439)		1		3,368
Balance, December 31, 2023	$	(2,410)	$	(1,567)	$	(8,016)	$	(4,748)	$	(1,047)	$	(17,788)

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 2023, 2022 and 2021.

	Pretax		Tax effect		After- tax		Pretax		Tax effect		After- tax		Pretax		Tax effect		After- tax
(Dollars in millions)	2023						2022						2021
Debt securities:
Net increase (decrease) in fair value	$	348	$	(79)	$	269	$	(7,995)	$	1,991	$	(6,004)	$	(2,749)	$	689	$	(2,060)
Net realized (gains) losses reclassified into earnings (1)	405		(101)		304		(32)		8		(24)		(22)		5		(17)
Net change	753		(180)		573		(8,027)		1,999		(6,028)		(2,771)		694		(2,077)
Debit valuation adjustments:
Net increase (decrease) in fair value	(917)		223		(694)		980		(237)		743		449		(103)		346
Net realized (gains) losses reclassified into earnings (1)	11		(3)		8		16		(4)		12		13		(3)		10
Net change	(906)		220		(686)		996		(241)		755		462		(106)		356
Derivatives:
Net increase (decrease) in fair value	2,064		(514)		1,550		(13,711)		3,430		(10,281)		(2,849)		703		(2,146)
Reclassifications into earnings:
Net interest income	1,153		(288)		865		332		(84)		248		(166)		48		(118)
Market making and similar activities	2,031		(508)		1,523		—		—		—		—		—		—
Compensation and benefits expense	(25)		6		(19)		(29)		7		(22)		(55)		13		(42)
Net realized (gains) losses reclassified into earnings	3,159		(790)		2,369		303		(77)		226		(221)		61		(160)
Net change	5,223		(1,304)		3,919		(13,408)		3,353		(10,055)		(3,070)		764		(2,306)
Employee benefit plans:
Net increase (decrease) in fair value	(642)		162		(480)		(1,103)		276		(827)		463		(72)		391
Net actuarial losses and other reclassified into earnings (2)	56		(16)		40		198		(49)		149		295		(67)		228
Settlements, curtailments and other	1		—		1		11		—		11		5		—		5
Net change	(585)		146		(439)		(894)		227		(667)		763		(139)		624
Foreign currency:
Net increase (decrease) in fair value	(177)		192		15		332		(390)		(58)		296		(341)		(45)
Net realized (gains) losses reclassified into earnings (1)	(48)		34		(14)		—		1		1		(5)		5		—
Net change	(225)		226		1		332		(389)		(57)		291		(336)		(45)
Total other comprehensive income (loss)	$	4,260	$	(892)	$	3,368	$	(21,001)	$	4,949	$	(16,052)	$	(4,325)	$	877	$	(3,448)

(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.