Accumulated Other Comprehensive Income

3 Months Ended

Mar. 31, 2024

18. Accumulated Other Comprehensive Income

Our changes in AOCI for the three months ended March 31, 2024, and March 31, 2023, 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, 2023	$	(4,190)	$	(763)	$	(276)	$	(5,229)
Other comprehensive income before reclassification, net of income taxes	(153)		(99)		(1)		(253)
Amounts reclassified from AOCI, net of income taxes (a)	2		164		2		168

Net current-period other comprehensive income, net of income taxes	(151)		65		1		(85)
Balance at March 31, 2024	$	(4,341)	$	(698)	$	(275)	$	(5,314)


Balance at December 31, 2022	$	(4,895)	$	(1,124)	$	(276)	$	(6,295)
Other comprehensive income before reclassification, net of income taxes	575		80		(1)		654
Amounts reclassified from AOCI, net of income taxes (a)	—		165		2		167

Net current-period other comprehensive income, net of income taxes	575		245		1		821
Balance at March 31, 2023	$	(4,320)	$	(879)	$	(275)	$	(5,474)

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

Our reclassifications out of AOCI for the three months ended March 31, 2024, and March 31, 2023, are as follows:



	Three months ended March 31,				Affected Line Item in the Consolidated Statement of Income
Dollars in millions	2024		2023
Unrealized gains (losses) on available for sale securities
Realized gains	$	—	$	—	Other income
Realized losses	(3)		—		Other income
	(3)		—		Income (loss) from continuing operations before income taxes
	(1)		—		Income taxes
	$	(2)	$	—	Income (loss) from continuing operations
Unrealized gains (losses) on derivative financial instruments
Interest rate	$	(216)	$	(215)	Interest income — Loans
Interest rate	—		(1)		Interest expense — Long-term debt
Interest rate	1		—		Investment banking and debt placement fees

	(215)		(216)		Income (loss) from continuing operations before income taxes
	(51)		(51)		Income taxes
	$	(164)	$	(165)	Income (loss) from continuing operations
Net pension and postretirement benefit costs
Amortization of losses	$	(3)	$	(3)	Other expense
Settlement loss	—		—		Other expense
Amortization of unrecognized prior service credit	—		1		Other expense
	(3)		(2)		Income (loss) from continuing operations before income taxes
	(1)		—		Income taxes
	$	(2)	$	(2)	Income (loss) from continuing operations