XML 37 R22.htm IDEA: XBRL DOCUMENT
v3.23.2

Accumulated Other Comprehensive Income (Loss) | 6 Months Ended
--- | ---
Jun. 30, 2023
Equity [Abstract] |
Accumulated Other Comprehensive Income (Loss) | Accumulated Other Comprehensive Income (Loss) The following tables present the changes in the components of AOCI balances for the three and six months ended June 30, 2023 and 2022:
($ in thousands) |  | Debt Securities (1) |  | Cash Flow Hedges |  | Foreign Currency Translation Adjustments (2) |  | Total
Balance, April 1, 2022 |  | $ | (365,653) |  |  | $ | (24,466) |  |  | $ | (4,806) |  |  | $ | (394,925) |
Net unrealized losses arising during the period |  | (192,858) |  |  | (5,582) |  |  | (10,215) |  |  | (208,655) |
Amounts reclassified from AOCI |  | 3,730 |  |  | (798) |  |  | — |  |  | 2,932 |
Changes, net of tax |  | (189,128) |  |  | (6,380) |  |  | (10,215) |  |  | (205,723) |
Balance, June 30, 2022 |  | $ | (554,781) |  |  | $ | (30,846) |  |  | $ | (15,021) |  |  | $ | (600,648) |
Balance, April 1, 2023 |  | $ | (640,734) |  |  | $ | (20,918) |  |  | $ | (18,342) |  |  | $ | (679,994) |
Net unrealized losses arising during the period |  | (43,618) |  |  | (68,207) |  |  | (7,249) |  |  | (119,074) |
Amounts reclassified from AOCI |  | 2,816 |  |  | 14,320 |  |  | — |  |  | 17,136 |
Changes, net of tax |  | (40,802) |  |  | (53,887) |  |  | (7,249) |  |  | (101,938) |
Balance, June 30, 2023 |  | $ | (681,536) |  |  | $ | (74,805) |  |  | $ | (25,591) |  |  | $ | (781,932) |
($ in thousands) |  | Debt Securities (1) |  | Cash Flow Hedges |  | Foreign Currency Translation Adjustments (2) |  | Total
Balance, January 1, 2022 |  | $ | (85,703) |  |  | $ | 257 |  |  | $ | (4,935) |  |  | $ | (90,381) |
Net unrealized losses arising during the period |  | (474,219) |  |  | (28,809) |  |  | (10,086) |  |  | (513,114) |
Amounts reclassified from AOCI |  | 5,141 |  |  | (2,294) |  |  | — |  |  | 2,847 |
Changes, net of tax |  | (469,078) |  |  | (31,103) |  |  | (10,086) |  |  | (510,267) |
Balance, June 30, 2022 |  | $ | (554,781) |  |  | $ | (30,846) |  |  | $ | (15,021) |  |  | $ | (600,648) |
Balance, January 1, 2023 |  | $ | (694,815) |  |  | $ | (49,531) |  |  | $ | (21,283) |  |  | $ | (765,629) |
Net unrealized gains (losses) arising during the period |  | 657 |  |  | (47,121) |  |  | (4,308) |  |  | (50,772) |
Amounts reclassified from AOCI |  | 12,622 |  |  | 21,847 |  |  | — |  |  | 34,469 |
Changes, net of tax |  | 13,279 |  |  | (25,274) |  |  | (4,308) |  |  | (16,303) |
Balance, June 30, 2023 |  | $ | (681,536) |  |  | $ | (74,805) |  |  | $ | (25,591) |  |  | $ | (781,932) |
(1)Includes after-tax unamortized losses related to AFS debt securities that were transferred to HTM in 2022. (2)Represents foreign currency translation adjustments related to the Company’s net investment in non-U.S. operations, including related hedges. The functional currency and reporting currency of the Company’s foreign subsidiary is RMB and USD, respectively. The following tables present the components of other comprehensive income (loss), reclassifications to net income and the related tax effects for the three and six months ended June 30, 2023 and 2022:
|  | Three Months Ended June 30,
|  | 2023 |  | 2022
($ in thousands) |  | Before-Tax |  | Tax Effect |  | Net-of-Tax |  | Before-Tax |  | Tax Effect |  | Net-of-Tax
Debt securities: |  |  |  |  |  |  |  |  |  |  |  |
Net unrealized losses on AFS debt securities arising during the period |  | $ | (61,939) |  |  | $ | 18,321 |  |  | $ | (43,618) |  |  | $ | (273,840) |  |  | $ | 80,982 |  |  | $ | (192,858) |
Reclassification adjustments: |  |  |  |  |  |  |  |  |  |  |  |
Net realized gains on AFS debt securities reclassified into net income (1) |  | — |  |  | — |  |  | — |  |  | (28) |  |  | 8 |  |  | (20) |
Amortization of unrealized losses on transferred debt securities (2) |  | 3,998 |  |  | (1,182) |  |  | 2,816 |  |  | 5,324 |  |  | (1,574) |  |  | 3,750 |
Net change |  | (57,941) |  |  | 17,139 |  |  | (40,802) |  |  | (268,544) |  |  | 79,416 |  |  | (189,128) |
Cash flow hedges: |  |  |  |  |  |  |  |  |  |  |  |
Net unrealized losses arising during the period |  | (96,457) |  |  | 28,250 |  |  | (68,207) |  |  | (7,837) |  |  | 2,255 |  |  | (5,582) |
Net realized losses (gains) reclassified into net income (3) |  | 20,252 |  |  | (5,932) |  |  | 14,320 |  |  | (1,120) |  |  | 322 |  |  | (798) |
Net change |  | (76,205) |  |  | 22,318 |  |  | (53,887) |  |  | (8,957) |  |  | 2,577 |  |  | (6,380) |
Foreign currency translation adjustments, net of hedges: |  |  |  |  |  |  |  |  |  |  |  |
Net unrealized losses arising during the period |  | (6,107) |  |  | (1,142) |  |  | (7,249) |  |  | (9,278) |  |  | (937) |  |  | (10,215) |
Net change |  | (6,107) |  |  | (1,142) |  |  | (7,249) |  |  | (9,278) |  |  | (937) |  |  | (10,215) |
Other comprehensive loss |  | $ | (140,253) |  |  | $ | 38,315 |  |  | $ | (101,938) |  |  | $ | (286,779) |  |  | $ | 81,056 |  |  | $ | (205,723) |
|  | Six Months Ended June 30,
|  | 2023 |  | 2022
($ in thousands) |  | Before-Tax |  | Tax Effect |  | Net-of-Tax |  | Before-Tax |  | Tax Effect |  | Net-of-Tax
Debt securities: |  |  |  |  |  |  |  |  |  |  |  |
Net unrealized gains (losses) on AFS debt securities arising during the period |  | $ | 921 |  |  | $ | (264) |  |  | $ | 657 |  |  | $ | (512,886) |  |  | $ | 151,658 |  |  | $ | (361,228) |
Unrealized losses on debt securities transferred from AFS to HTM |  | — |  |  | — |  |  | — |  |  | (160,416) |  |  | 47,425 |  |  | (112,991) |
Reclassification adjustments: |  |  |  |  |  |  |  |  |  |  |  |
Net realized losses (gains) on AFS debt securities reclassified into net income (1) |  | 10,000 |  | (4) | (2,956) |  |  | 7,044 |  |  | (1,306) |  |  | 386 |  |  | (920) |
Amortization of unrealized losses on transferred debt securities (2) |  | 7,919 |  |  | (2,341) |  |  | 5,578 |  |  | 8,605 |  |  | (2,544) |  |  | 6,061 |
Net change |  | 18,840 |  |  | (5,561) |  |  | 13,279 |  |  | (666,003) |  |  | 196,925 |  |  | (469,078) |
Cash flow hedges: |  |  |  |  |  |  |  |  |  |  |  |
Net unrealized losses arising during the period |  | (66,614) |  |  | 19,493 |  |  | (47,121) |  |  | (40,446) |  |  | 11,637 |  |  | (28,809) |
Net realized losses (gains) reclassified into net income (3) |  | 30,896 |  |  | (9,049) |  |  | 21,847 |  |  | (3,220) |  |  | 926 |  |  | (2,294) |
Net change |  | (35,718) |  |  | 10,444 |  |  | (25,274) |  |  | (43,666) |  |  | 12,563 |  |  | (31,103) |
Foreign currency translation adjustments, net of hedges: |  |  |  |  |  |  |  |  |  |  |  |
Net unrealized losses arising during the period |  | (3,481) |  |  | (827) |  |  | (4,308) |  |  | (9,600) |  |  | (486) |  |  | (10,086) |
Net change |  | (3,481) |  |  | (827) |  |  | (4,308) |  |  | (9,600) |  |  | (486) |  |  | (10,086) |
Other comprehensive loss |  | $ | (20,359) |  |  | $ | 4,056 |  |  | $ | (16,303) |  |  | $ | (719,269) |  |  | $ | 209,002 |  |  | $ | (510,267) |
(1)Pre-tax amounts were reported in Net gains (losses) on AFS debt securities on the Consolidated Statement of Income. (2)Represents unrealized losses amortized over the remaining lives of securities that were transferred from the AFS to HTM portfolio in 2022. (3)Pre-tax amounts related to cash flow hedges on variable rate loans and long-term borrowings, where applicable, were reported in Interest and dividend income and in Interest expense, respectively, on the Consolidated Statement of Income. (4)Represents the full write-off of an impaired subordinated debt security during the first quarter of 2023.

X
- Definition The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(19)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(21)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(23)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//220/tableOfContent + Details
Name: | us-gaap_ComprehensiveIncomeNoteTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_EquityAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration