INCOME TAXES - Components of Income Tax Provision (Details) - USD ($) $ in Millions |
3 Months Ended | 12 Months Ended | |||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2020 |
Sep. 30, 2020 |
Jun. 30, 2020 |
Mar. 31, 2020 |
Dec. 31, 2019 |
Sep. 30, 2019 |
Jun. 30, 2019 |
Mar. 31, 2019 |
Dec. 31, 2020 |
Dec. 31, 2019 |
Dec. 31, 2018 |
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Current | |||||||||||||
Federal | $ 305 | $ 365 | $ 834 | ||||||||||
Non-U.S. | 4,113 | 4,352 | 4,290 | ||||||||||
State | 440 | 323 | 284 | ||||||||||
Total current income taxes | 4,858 | 5,040 | 5,408 | ||||||||||
Deferred | |||||||||||||
Federal | (1,430) | (907) | (620) | ||||||||||
Non-U.S. | (690) | 10 | 371 | ||||||||||
State | (213) | 287 | 198 | ||||||||||
Total deferred income taxes | [1] | (2,333) | (610) | (51) | |||||||||
Provision for income tax on continuing operations before non-controlling interests | $ 1,116 | $ 777 | $ 52 | $ 580 | $ 703 | $ 1,079 | $ 1,373 | $ 1,275 | 2,525 | 4,430 | 5,357 | ||
Provision (benefit) for income taxes on discontinued operations | 0 | (27) | (18) | ||||||||||
Income tax expense (benefit) reported in stockholders’ equity related to: | |||||||||||||
FX translation | 23 | (11) | (263) | ||||||||||
Investment securities | 1,214 | 648 | (346) | ||||||||||
Employee stock plans | (4) | (16) | (2) | ||||||||||
Cash flow hedges | 455 | 269 | (8) | ||||||||||
Benefit plans | (23) | (119) | (20) | ||||||||||
FVO DVA | (141) | (337) | 302 | ||||||||||
Excluded fair value hedges | (8) | 8 | (17) | ||||||||||
Retained earnings | (911) | 46 | (305) | ||||||||||
Income taxes before noncontrolling interests | 3,130 | 4,891 | 4,680 | ||||||||||
Provision (benefit) for effect of securities transactions | 454 | 373 | 104 | ||||||||||
Benefit for effect of other-than-temporary-impairment losses | $ (14) | $ (9) | $ (32) | ||||||||||
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X | ||||||||||
- Definition This item represents the tax effect included in earnings for the period as a result of selling or holding marketable securities categorized as trading, available-for-sale, or held-to-maturity, including the unrealized holding gain or loss of held-to-maturity securities transferred to the trading security category and the cumulative unrealized gain or loss which was included in other comprehensive income (a separate component of shareholders' equity) for available-for-sale securities transferred to trading securities during the period. No definition available.
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- Definition Income Tax Effects Allocated Directly to Retained Earnings No definition available.
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X | ||||||||||
- Definition Income Tax Effects Allocated Directly to Equity, Fair Value Option Debt Valuation Adjustment No definition available.
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X | ||||||||||
- Definition Taxes related to the amount of other than temporary impairment (OTTI) losses on equity securities, OTTI related to credit losses on debt securities, and OTTI losses on debt securities when the entity intends to sell the securities or it is more likely than not that the entity will be required to sell the securities before recovery of its amortized cost basis. Additionally, this item includes OTTI losses recognized during the period on investments accounted for under the cost method of accounting. No definition available.
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- Definition Amount of current federal tax expense (benefit) pertaining to income (loss) from continuing operations. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of current foreign income tax expense (benefit) pertaining to income (loss) from continuing operations. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of current income tax expense (benefit) pertaining to taxable income (loss) from continuing operations. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition Amount of current state and local tax expense (benefit) pertaining to income (loss) from continuing operations. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of deferred federal income tax expense (benefit) pertaining to income (loss) from continuing operations. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of deferred foreign income tax expense (benefit) pertaining to income (loss) from continuing operations. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition Amount of deferred state and local tax expense (benefit) pertaining to income (loss) from continuing operations. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of tax expense (benefit) related to a discontinued operation. Includes, but is not limited to, tax expense (benefit) related to income (loss) from operations during the phase-out period, tax expense (benefit) related to gain (loss) on disposal, tax expense (benefit) related to gain (loss) for reversal of write-down (write-down) to fair value, less cost to sell, and tax expense (benefit) related to adjustments of a prior period gain (loss) on disposal. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition The tax effects of employee stock option transactions that are recognized differently for financial reporting and tax purposes, occurring during the period and charged or credited directly to shareholders' equity. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of income tax expense (benefit) for continuing operations, discontinued operations, other comprehensive income, and items charged (credited) directly to shareholders' equity. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount, after reclassification adjustment, of tax (expense) benefit for (increase) decrease in accumulated other comprehensive income for defined benefit plan, attributable to parent. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount, after adjustment, of tax expense (benefit) for unrealized gain (loss) on investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale) and tax expense (benefit) for unrealized gain (loss) on investment in debt security measured at amortized cost (held-to-maturity) from transfer to available-for-sale. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount, after reclassification, of tax expense (benefit) for gain (loss) from derivative instrument designated and qualifying as cash flow hedge included in assessment of hedge effectiveness, attributable to parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount, after adjustments, of tax expense (benefit) for gain (loss) from increase (decrease) in value of excluded component of derivative designated and qualifying as hedge, attributable to attributable to parent. Adjustments include, but are not limited to, reclassifications for sale and settlement, and amounts recognized under systematic and rational method. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of tax expense (benefit), after reclassification adjustments of gain (loss) on foreign currency translation adjustments, foreign currency transactions designated and effective as economic hedges of a net investment in a foreign entity and intra-entity foreign currency transactions that are of a long-term-investment nature. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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