Accumulated Other Comprehensive Income (Loss)

3 Months Ended

Mar. 31, 2015

Equity [Abstract]

Accumulated Other Comprehensive Income

Accumulated Other Comprehensive Loss

Accumulated other comprehensive loss includes certain items that are reported directly within a separate component of shareholders’ equity. The following table presents changes in accumulated other comprehensive loss balances:

Three Months Ended March 31,	2015			2014
	(in millions)
Unrealized gains (losses) on investment securities:
Balance at beginning of period	$	158		$	(18	)
Other comprehensive income (loss) for period:
Net unrealized gains (losses) arising during period, net of tax of $(11) million and $93 million, respectively	(19		)	144
Reclassification adjustment for gains realized in net income, net of tax of $(9) million and $(9) million, respectively(1)	(14		)	(14		)
Amortization of net unrealized losses on securities transferred from available-for-sale to held-to-maturity realized in net income, net of tax of $3 million(2)	5			—
Total other comprehensive income (loss) for period	(28		)	130
Balance at end of period	130			112
Unrealized losses on other-than-temporarily impaired debt securities held-to-maturity:
Balance at beginning of period	—			(60		)
Other comprehensive income for period:
Reclassification adjustment related to the accretion of unrealized other-than-temporary impairment, net of tax of $1 million(3)	—			1
Total other comprehensive income for period	—			1
Balance at end of period	—			(59		)
Unrealized losses on derivatives designated as cash flow hedges:
Balance at beginning of period	(156		)	(83		)
Other comprehensive loss for period:
Net unrealized losses arising during period, net of tax of $(12) million and $(13) million, respectively	(21		)	(21		)
Reclassification adjustment for losses realized in net income, net of tax of $1 million and less than $1 million, respectively(4)	2			1
Total other comprehensive loss for period	(19		)	(20		)
Balance at end of period	(175		)	(103		)
Pension and postretirement benefit liability:
Balance at beginning of period	(3		)	2
Other comprehensive income for period:
Change in unfunded pension and postretirement liability, net of tax of less than $1 million	1			—
Total other comprehensive income for period	1			—
Balance at and end of period	(2		)	2
Total accumulated other comprehensive loss at end of period	$	(47	)	$	(48	)

⁽¹⁾  Amount reclassified to net income is included in other securities gains, net in our consolidated statement of income.

⁽²⁾  Amount amortized to net income is included in interest income in our consolidated statement of income. During the third quarter of 2014, we transferred securities from available-for-sale to held-to-maturity. At the date of transfer, AOCI included net pretax unrealized losses of $234 million related to the transferred securities which will be amortized over the remaining contractual life of each security as an adjustment of yield in a manner consistent with the amortization of any premium or discount.

⁽³⁾  Amount reclassified to the carrying value of the debt securities is included in securities held-to-maturity in our consolidated balance sheet.

⁽⁴⁾  Amount reclassified to net income is included in interest income (expense) in our consolidated statement of income.