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Changes in Accumulated Other Comprehensive Income (Loss) (Tables) | 6 Months Ended
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Jun. 30, 2021
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract] |
Components of comprehensive income (loss), net of tax | Changes in each component for the three and six months ended June 30, 2021 and 2020 were as follows:
Three Months Ended June 30, 2021 (Millions), net of tax |  | Net Unrealized Gains (Losses) on Debt Securities |  | Foreign Currency Translation Adjustment Gains (Losses) |  | Net Unrealized Pension and Other Postretirement Benefit Gains (Losses) |  | Accumulated Other Comprehensive Income (Loss)
Balances as of March 31, 2021 |  | $ | 53 |  |  | $ | (2,246) |  |  | $ | (705) |  |  | $ | (2,898) |
Net unrealized losses |  | (11) |  |  | — |  |  | — |  |  | (11) |
Net translation on investments in foreign operations |  | — |  |  | 127 |  |  | — |  |  | 127 |
Net hedges of investments in foreign operations |  | — |  |  | (108) |  |  | — |  |  | (108) |
Pension and other postretirement benefits |  | — |  |  | — |  |  | 9 |  |  | 9 |
Net change in accumulated other comprehensive income (loss) |  | (11) |  |  | 19 |  |  | 9 |  |  | 17 |
Balances as of June 30, 2021 |  | $ | 42 |  |  | $ | (2,227) |  |  | $ | (696) |  |  | $ | (2,881) |
Six Months Ended June 30, 2021 (Millions), net of tax |  | Net Unrealized Gains (Losses) on Debt Securities |  | Foreign Currency Translation Adjustment Gains (Losses) |  | Net Unrealized Pension and Other Postretirement Benefit Gains (Losses) |  | Accumulated Other Comprehensive Income (Loss)
Balances as of December 31, 2020 |  | $ | 65 |  |  | $ | (2,229) |  |  | $ | (731) |  |  | $ | (2,895) |
Net unrealized losses |  | (23) |  |  | — |  |  | — |  |  | (23) |
Net translation on investments in foreign operations |  | — |  |  | 104 |  |  | — |  |  | 104 |
Net hedges of investments in foreign operations |  | — |  |  | (102) |  |  | — |  |  | (102) |
Pension and other postretirement benefits |  | — |  |  | — |  |  | 35 |  |  | 35 |
Net change in accumulated other comprehensive income (loss) |  | (23) |  |  | 2 |  |  | 35 |  |  | 14 |
Balances as of June 30, 2021 |  | $ | 42 |  |  | $ | (2,227) |  |  | $ | (696) |  |  | $ | (2,881) |
Three Months Ended June 30, 2020 (Millions), net of tax |  | Net Unrealized Gains (Losses) on Debt Securities |  | Foreign Currency Translation Adjustment Gains (Losses) |  | Net Unrealized Pension and Other Postretirement Benefit Gains (Losses) |  | Accumulated Other Comprehensive Income (Loss)
Balances as of March 31, 2020 |  | $ | 90 |  |  | $ | (2,511) |  |  | $ | (575) |  |  | $ | (2,996) |
Net unrealized losses |  | (5) |  |  | — |  |  | — |  |  | (5) |
Decrease due to amounts reclassified into earnings |  | — |  |  | (3) |  |  | — |  |  | (3) |
Net translation on investments in foreign operations |  | — |  |  | 465 |  |  | — |  |  | 465 |
Net hedges of investments in foreign operations |  | — |  |  | (339) |  |  | — |  |  | (339) |
Pension and other postretirement benefits |  | — |  |  | — |  |  | (33) |  |  | (33) |
Net change in accumulated other comprehensive income (loss) |  | (5) |  |  | 123 |  |  | (33) |  |  | 85 |
Balances as of June 30, 2020 |  | $ | 85 |  |  | $ | (2,388) |  |  | $ | (608) |  |  | $ | (2,911) |
Six Months Ended June 30, 2020 (Millions), net of tax |  | Net Unrealized Gains (Losses) on Debt Securities |  | Foreign Currency Translation Adjustment Gains (Losses) |  | Net Unrealized Pension and Other Postretirement Benefit Gains (Losses) |  | Accumulated Other Comprehensive Income (Loss)
Balances as of December 31, 2019 |  | $ | 33 |  |  | $ | (2,189) |  |  | $ | (581) |  |  | $ | (2,737) |
Net unrealized gains |  | 52 |  |  | — |  |  | — |  |  | 52 |
Decrease due to amounts reclassified into earnings |  | — |  |  | (3) |  |  | — |  |  | (3) |
Net translation on investments in foreign operations |  | — |  |  | (589) |  |  | — |  |  | (589) |
Net hedges of investments in foreign operations |  | — |  |  | 393 |  |  | — |  |  | 393 |
Pension and other postretirement benefits |  | — |  |  | — |  |  | (27) |  |  | (27) |
Net change in accumulated other comprehensive income (loss) |  | 52 |  |  | (199) |  |  | (27) |  |  | (174) |
Balances as of June 30, 2020 |  | $ | 85 |  |  | $ | (2,388) |  |  | $ | (608) |  |  | $ | (2,911) |
AOCI income tax effect | The following table shows the tax impact for the three and six months ended June 30 for the changes in each component of AOCI presented above:
|  | Tax expense (benefit)
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
(Millions) |  | 2021 |  | 2020 |  | 2021 |  | 2020
Net unrealized (losses) gains on debt securities |  | $ | (3) |  |  | $ | (2) |  |  | $ | (6) |  |  | $ | 16 |
Net translation on investments in foreign operations |  | (3) |  |  | (6) |  |  | 5 |  |  | 24 |
Net hedges of investments in foreign operations |  | (35) |  |  | (106) |  |  | (35) |  |  | 124 |
Pension and other postretirement benefits |  | 2 |  |  | (1) |  |  | 13 |  |  | 11 |
Total tax impact |  | $ | (39) |  |  | $ | (115) |  |  | $ | (23) |  |  | $ | 175 |

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- Definition Tabular disclosure of components of comprehensive income (loss). Includes, but is not limited to, foreign currency translation adjustments, foreign currency transactions designated as economic hedges of a net investment in foreign entity, gain (loss) and prior service cost (credit) for pension plans and other postretirement benefit plans. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=124509347&loc=d3e526-108580 + Details
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