Accumulated Other Comprehensive Income

9 Months Ended

Sep. 30, 2022

18. Accumulated Other Comprehensive Income

Our changes in AOCI for the three and nine months ended September 30, 2022, and September 30, 2021, are as follows:


Dollars in millions	Unrealized gains (losses) on securities available for sale		Unrealized gains (losses) on derivative financial instruments		Net pension and postretirement benefit costs		Total
Balance at December 31, 2021	$	(403)	$	88	$	(271)	$	(586)
Other comprehensive income before reclassification, net of income taxes	(4,380)		(1,281)		(1)		(5,662)
Amounts reclassified from AOCI, net of income taxes (a)	—		(17)		8		(9)

Net current-period other comprehensive income, net of income taxes	(4,380)		(1,298)		7		(5,671)
Balance at September 30, 2022	$	(4,783)	$	(1,210)	$	(264)	$	(6,257)

Balance at June 30, 2022	$	(3,167)	$	(733)	$	(266)	$	(4,166)
Other comprehensive income before reclassification, net of income taxes	(1,616)		(527)		(1)		(2,144)
Amounts reclassified from AOCI, net of income taxes (a)	—		50		3		53

Net current-period other comprehensive income, net of income taxes	(1,616)		(477)		2		(2,091)
Balance at September 30, 2022	$	(4,783)	$	(1,210)	$	(264)	$	(6,257)

Balance at December 31, 2020	$	567	$	476	$	(305)	$	738
Other comprehensive income before reclassification, net of income taxes	(617)		11		(2)		(608)
Amounts reclassified from AOCI, net of income taxes (a)	—		(191)		16		(175)

Net current-period other comprehensive income, net of income taxes	(617)		(180)		14		(783)
Balance at September 30, 2021	$	(50)	$	296	$	(291)	$	(45)

Balance at June 30, 2021	$	124	$	325	$	(299)	$	150
Other comprehensive income before reclassification, net of income taxes	(174)		30		(1)		(145)
Amounts reclassified from AOCI, net of income taxes (a)	—		(59)		9		(50)

Net current-period other comprehensive income, net of income taxes	(174)		(29)		8		(195)
Balance at September 30, 2021	$	(50)	$	296	$	(291)	$	(45)

(a)See table below for details about these reclassifications.

Our reclassifications out of AOCI for the three and nine months ended September 30, 2022, and September 30, 2021, are as follows:



	Three months ended September 30,				Affected Line Item in the Consolidated Statement of Income
Dollars in millions	2022		2021






Unrealized gains (losses) on derivative financial instruments
Interest rate	$	(66)	$	79	Interest income — Loans
Interest rate	(1)		(1)		Interest expense — Long-term debt
Interest rate	2		(1)		Investment banking and debt placement fees

	(65)		77		Income (loss) from continuing operations before income taxes
	(15)		18		Income taxes
	$	(50)	$	59	Income (loss) from continuing operations
Net pension and postretirement benefit costs
Amortization of losses	$	(4)	$	(5)	Other expense
Settlement loss	—		(7)		Other expense

	(4)		(12)		Income (loss) from continuing operations before income taxes
	(1)		(3)		Income taxes
	$	(3)	$	(9)	Income (loss) from continuing operations


	Nine months ended September 30,				Affected Line Item in the Statement Where Net Income is Presented
Dollars in millions	2022		2021






Unrealized gains (losses) on derivative financial instruments
Interest rate	$	16	$	253	Interest income — Loans
Interest rate	(3)		(3)		Interest expense — Long-term debt
Interest rate	9		—		Investment banking and debt placement fees
	22		250		Income (loss) from continuing operations before income taxes
	5		59		Income taxes
	$	17	$	191	Income (loss) from continuing operations
Net pension and postretirement benefit costs
Amortization of losses	$	(11)	$	(14)	Other expense
Settlement loss	—		(7)		Other expense
Amortization of unrecognized prior service credit	1		—		Other expense
	(10)		(21)		Income (loss) from continuing operations before income taxes
	(2)		(5)		Income taxes
	$	(8)	$	(16)	Income (loss) from continuing operations