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Stockholders' Equity (Tables)
 12 Months Ended
Dec. 31, 2014
Equity [Abstract]  
Schedule of Preferred Stock
The following table summarizes the Company’s preferred stock issued and outstanding as of December 31, 2014 and 2013.
Table 11.1: Preferred Stock Issued and Outstanding
 
 
 
 
 
 
 
 
 
 
 
 
Carrying Value (in millions)
Series
 
Issuance Date
 
Redeemable by Issuer Beginning
 
Non-cumulative Fixed Dividend Rate per Annum
 
Redemption Price per Depositary Share
 
Number of Depositary Shares(1)
 
December 31, 2014
 
December 31, 2013
Series B
 
August 20, 2012
 
September 1, 2017
 
6.00
%
 
$
25

 
35,000,000

 
$
853

 
$
853

Series C
 
June 12, 2014
 
September 1, 2019
 
6.25

 
25

 
20,000,000

 
484

 
N/A

Series D
 
October 31, 2014
 
December 1, 2019
 
6.70

 
25

 
20,000,000

 
485

 
N/A

Total
 
 
 
 
 
 
 
 
 
 
 
$
1,822

 
$
853

__________
(1) 
Each depositary share represents a 1/40th interest in a share of fixed-rate non-cumulative perpetual preferred stock.
Change in AOCI Gain (Loss) by Component (Net of Tax)
The following table presents the changes in AOCI by component for the years ended December 31, 2014, 2013 and 2012. AOCI is presented net of deferred tax of $171 million and $544 million as of December 31, 2014 and 2013, respectively.
Table 11.2: Accumulated Other Comprehensive Income
 
 
 
 
 
 
 
 
 
 
 
 
 
(Dollars in millions)
 
Securities
Available
for Sale
 
Securities Held to Maturity(1)
 
Cash Flow
Hedges
 
Foreign
Currency
Translation
Adjustments(2)
 
Other
 
Total
AOCI as of December 31, 2011
 
$
304

 
$
0

 
$
(26
)
 
$
(49
)
 
$
(60
)
 
$
169

Net other comprehensive income
 
399

 
0

 
71

 
81

 
19

 
570

AOCI as of December 31, 2012
 
703

 
0

 
45

 
32

 
(41
)
 
739

Other comprehensive income (loss) before reclassifications
 
(619
)
 
(915
)
 
(124
)
 
8

 
18

 
(1,632
)
Amounts reclassified from AOCI into earnings
 
22

 
18

 
(31
)
 
0

 
12

 
21

Net other comprehensive income (loss)
 
(597
)
 
(897
)
 
(155
)
 
8

 
30

 
(1,611
)
AOCI as of December 31, 2013
 
106

 
(897
)
 
(110
)
 
40

 
(11
)
 
(872
)
Other comprehensive income (loss) before reclassifications
 
302

 
0

 
228

 
(48
)
 
(5
)
 
477

Amounts reclassified from AOCI into earnings
 
2

 
76

 
(108
)
 
0

 
(5
)
 
(35
)
Net other comprehensive income (loss)
 
304

 
76

 
120

 
(48
)
 
(10
)
 
442

AOCI as of December 31, 2014
 
$
410

 
$
(821
)
 
$
10

 
$
(8
)
 
$
(21
)
 
$
(430
)
__________
(1) 
During 2013, we transferred securities with a fair value of $18.3 billion on the date of transfer, from securities available for sale to securities held to maturity. The securities included net pre-tax unrealized losses of $1.5 billion at the date of transfer. The amortization of unrealized holding gains or losses reported in AOCI for securities held to maturity will be offset by the amortization of the premium or discount created from the transfer into securities held to maturity, which occurred at fair value. These unrealized gains or losses will be recorded over the remaining life of the security with no impact on future net income.
(2) 
Includes the impact from hedging instruments designated as net investment hedges that were entered into during 2014.
Reclassifications from AOCI
The following table presents the impacts on net income of amounts reclassified from each component of AOCI for the years ended December 31, 2014 and 2013.
Table 11.3: Reclassifications from AOCI
 
 
 
 
Amount Reclassified from AOCI
(Dollars in millions)
 
 
 
Year Ended December 31,
AOCI Components
 
Affected Income Statement Line Item
 
2014
 
2013
Securities available for sale:
 
 
 
 
 
 
 
 
Non-interest income - Other
 
$
21

 
$
7

 
 
Non-interest income - OTTI
 
(24
)
 
(41
)
 
 
Loss from continuing operations before income taxes
 
(3
)
 
(34
)
 
 
Income tax benefit
 
(1
)
 
(12
)
 
 
Net loss
 
(2
)
 
(22
)
Securities held to maturity:(1)
 
 
 
 
 
 
 
 
Non-interest income - Other
 
(131
)
 
(29
)
 
 
Income tax benefit
 
(55
)
 
(11
)
 
 
Net loss
 
(76
)
 
(18
)
Cash flow hedges:
 
 
 
 
 
 
Interest rate contracts:
 
Interest income - Other
 
209

 
86

Foreign exchange contracts:
 
Non-interest income - Other
 
(36
)
 
(35
)
 
 
Income from continuing operations before income taxes
 
173

 
51

 
 
Income tax provision
 
65

 
20

 
 
Net income
 
108

 
31

Other:
 
 
 
 
 
 
 
 
Various (pension and other)
 
11

 
(13
)
 
 
Income tax provision (benefit)
 
6

 
(1
)
 
 
Net income (loss)
 
5

 
(12
)
Total reclassifications
 
 
 
$
35

 
$
(21
)
__________
(1) 
The amortization of unrealized holding gains or losses reported in AOCI for securities held to maturity will be offset by the amortization of the premium or discount created from the transfer into securities held to maturity, which occurred at fair value. 
Components of Other Comprehensive Income (Loss) and Related Tax Impact
The table below summarizes other comprehensive income activity and the related tax impact for the years ended December 31, 2014, 2013 and 2012:
Table 11.4: Other Comprehensive Income (Loss)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year Ended December 31,
 
 
2014
 
2013
 
2012
(Dollars in millions)
 
Before
Tax
 
Provision
(Benefit)
 
After
Tax
 
Before
Tax
 
Provision
(Benefit)
 
After
Tax
 
Before
Tax
 
Provision
 
After
Tax
Other comprehensive income (loss):
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net unrealized gains (losses) on securities available for sale
 
$
482

 
$
178

 
$
304

 
$
(961
)
 
$
(364
)
 
$
(597
)
 
$
673

 
$
256

 
$
417

Net changes in securities held to maturity
 
131

 
55

 
76

 
(1,435
)
 
(538
)
 
(897
)
 
0

 
0

 
0

Net unrealized gains (losses) on cash flow hedges
 
192

 
72

 
120

 
(250
)
 
(95
)
 
(155
)
 
120

 
47

 
73

Foreign currency translation adjustments(1)
 
29

 
77

 
(48
)
 
8

 
0

 
8

 
81

 
0

 
81

Other
 
(18
)
 
(8
)
 
(10
)
 
49

 
19

 
30

 
(1
)
 
0

 
(1
)
Other comprehensive income (loss)
 
$
816

 
$
374

 
$
442

 
$
(2,589
)
 
$
(978
)
 
$
(1,611
)
 
$
873

 
$
303

 
$
570

__________
(1) 
Includes the impact from hedging instruments designated as net investment hedges that were entered into during 2014.