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Accumulated Other Comprehensive Income (Loss) (Tables)
3 Months Ended
Mar. 31, 2015
Equity [Abstract]  
Accumulated Other Comprehensive Income (Loss)
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.