Accumulated Other Comprehensive (Loss) Income (Tables)

12 Months Ended

Dec. 31, 2023

The following table details the components of Accumulated Other Comprehensive (Loss) Income (“AOCI”):

Components of Accumulated Other Comprehensive (Loss) Income


dollars in millions	December 31, 2023						December 31, 2022
	Pretax		Income Taxes		Net of Income Taxes		Pretax		Income Taxes		Net of Income Taxes
Unrealized loss on securities available for sale	$	(752)	$	175	$	(577)	$	(972)	$	233	$	(739)
Unrealized loss on securities available for sale transferred to held to maturity	(7)		2		(5)		(8)		2		(6)
Defined benefit pension items	122		(31)		91		13		(3)		10


Total accumulated other comprehensive loss	$	(637)	$	146	$	(491)	$	(967)	$	232	$	(735)

The following table details the changes in the components of AOCI, net of income taxes:

Changes in Accumulated Other Comprehensive (Loss) Income by Component


dollars in millions	Unrealized (loss) gain on securities available for sale		Unrealized (loss) gain on securities available for sale transferred to held to maturity		Net change in defined benefit pension items		Total accumulated other comprehensive (loss) income
Balance as of December 31, 2022	$	(739)	$	(6)	$	10	$	(735)
AOCI activity before reclassifications	143		—		81		224
Amounts reclassified from AOCI to earnings	19		1		—		20
Other comprehensive (loss) income for the period	162		1		81		244
Balance as of December 31, 2023	$	(577)	$	(5)	$	91	$	(491)

Balance as of December 31, 2021	$	(9)	$	(7)	$	26	$	10
AOCI activity before reclassifications	(730)		—		(25)		(755)
Amounts reclassified from AOCI to earnings	—		1		9		10
Other comprehensive (loss) income for the period	(730)		1		(16)		(745)
Balance as of December 31, 2022	$	(739)	$	(6)	$	10	$	(735)

The following table presents the pretax and after tax components of other comprehensive income:

Other Comprehensive Income (Loss) by Component


dollars in millions	Year Ended December 31,
	2023						2022
	Pretax		Income Taxes		Net of Income Taxes		Pretax		Income Taxes		Net of Income Taxes		Income Statement Line Items
Unrealized gain (loss) on securities available for sale:
AOCI activity before reclassifications	$	194	$	(51)	$	143	$	(960)	$	230	$	(730)
Amounts reclassified from AOCI to earnings	26		(7)		19		—		—		—		$26 million realized loss on sales of investment securities available for sale
Other comprehensive income (loss) on securities available for sale	$	220	$	(58)	$	162	$	(960)	$	230	$	(730)

Unrealized loss on securities available for sale transferred to held to maturity:
AOCI activity before reclassifications	$	—	$	—	$	—	$	—	$	—	$	—
Amounts reclassified from AOCI to earnings	1		—		1		1		—		1		Interest on investment securities
Other comprehensive income on securities available for sale transferred to held to maturity	$	1	$	—	$	1	$	1	$	—	$	1

Defined benefit pension items:
Actuarial gain (loss)	$	109	$	(28)	$	81	$	(33)	$	8	$	(25)
Amounts reclassified from AOCI to earnings	—		—		—		12		(3)		9		Other noninterest expense
Other comprehensive income (loss) for defined benefit pension items	$	109	$	(28)	$	81	$	(21)	$	5	$	(16)










Total other comprehensive income (loss)	$	330	$	(86)	$	244	$	(980)	$	235	$	(745)