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Accumulated Other Comprehensive (Loss) Income | 9 Months Ended
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Sep. 30, 2024
Equity [Abstract] |
Accumulated Other Comprehensive (Loss) Income | Accumulated Other Comprehensive (Loss) Income The following tables present the changes in the components of AOCI balances for the three and nine months ended September 30, 2024 and 2023:
($ in thousands) |  | Debt Securities (1) |  | Cash Flow Hedges |  | Foreign Currency Translation Adjustments (2) |  | Total
Balance, July 1, 2023 |  | $ | (681,536) |  |  | $ | (74,805) |  |  | $ | (25,591) |  |  | $ | (781,932) |
Net unrealized (losses) gains arising during the period |  | (72,691) |  |  | (44,347) |  |  | 3,710 |  |  | (113,328) |
Amounts reclassified from AOCI |  | 2,870 |  |  | 17,013 |  |  | — |  |  | 19,883 |
Changes, net of tax |  | (69,821) |  |  | (27,334) |  |  | 3,710 |  |  | (93,445) |
Balance, September 30, 2023 |  | $ | (751,357) |  |  | $ | (102,139) |  |  | $ | (21,881) |  |  | $ | (875,377) |
Balance, July 1, 2024 |  | $ | (591,286) |  |  | $ | (44,059) |  |  | $ | (18,828) |  |  | $ | (654,173) |
Net unrealized gains (losses) arising during the period |  | 132,130 |  |  | 66,105 |  |  | (1,126) |  |  | 197,109 |
Amounts reclassified from AOCI |  | 2,663 |  |  | 17,097 |  |  | — |  |  | 19,760 |
Changes, net of tax |  | 134,793 |  |  | 83,202 |  |  | (1,126) |  |  | 216,869 |
Balance, September 30, 2024 |  | $ | (456,493) |  |  | $ | 39,143 |  |  | $ | (19,954) |  |  | $ | (437,304) |
($ in thousands) |  | Debt Securities (1) |  | Cash Flow Hedges |  | Foreign Currency Translation Adjustments (2) |  | Total
Balance, January 1, 2023 |  | $ | (694,815) |  |  | $ | (49,531) |  |  | $ | (21,283) |  |  | $ | (765,629) |
Net unrealized losses arising during the period |  | (72,034) |  |  | (91,468) |  |  | (598) |  |  | (164,100) |
Amounts reclassified from AOCI |  | 15,492 |  |  | 38,860 |  |  | — |  |  | 54,352 |
Changes, net of tax |  | (56,542) |  |  | (52,608) |  |  | (598) |  |  | (109,748) |
Balance, September 30, 2023 |  | $ | (751,357) |  |  | $ | (102,139) |  |  | $ | (21,881) |  |  | $ | (875,377) |
Balance, January 1, 2024 |  | $ | (601,881) |  |  | $ | 2,624 |  |  | $ | (21,339) |  |  | $ | (620,596) |
Net unrealized gains (losses) arising during the period |  | 138,621 |  |  | (15,235) |  |  | 1,385 |  |  | 124,771 |
Amounts reclassified from AOCI |  | 6,767 |  |  | 51,754 |  |  | — |  |  | 58,521 |
Changes, net of tax |  | 145,388 |  |  | 36,519 |  |  | 1,385 |  |  | 183,292 |
Balance, September 30, 2024 |  | $ | (456,493) |  |  | $ | 39,143 |  |  | $ | (19,954) |  |  | $ | (437,304) |
(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 was 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 nine months ended September 30, 2024 and 2023:
|  | Three Months Ended September 30,
|  | 2024 |  | 2023
($ 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 |  | $ | 187,578 |  |  | $ | (55,448) |  |  | $ | 132,130 |  |  | $ | (103,183) |  |  | $ | 30,492 |  |  | $ | (72,691) |
Reclassification adjustments: |  |  |  |  |  |  |  |  |  |  |  |
Net realized gains on AFS debt securities reclassified into net income (1) |  | (145) |  |  | 43 |  |  | (102) |  |  | — |  |  | — |  |  | — |
Amortization of unrealized losses on transferred debt securities (2) |  | 3,926 |  |  | (1,161) |  |  | 2,765 |  |  | 4,075 |  |  | (1,205) |  |  | 2,870 |
Net change |  | 191,359 |  |  | (56,566) |  |  | 134,793 |  |  | (99,108) |  |  | 29,287 |  |  | (69,821) |
Cash flow hedges: |  |  |  |  |  |  |  |  |  |  |  |
Net unrealized gains (losses) arising during the period |  | 93,842 |  |  | (27,737) |  |  | 66,105 |  |  | (62,715) |  |  | 18,368 |  |  | (44,347) |
Net realized losses reclassified into net income (3) |  | 24,272 |  |  | (7,175) |  |  | 17,097 |  |  | 24,059 |  |  | (7,046) |  |  | 17,013 |
Net change |  | 118,114 |  |  | (34,912) |  |  | 83,202 |  |  | (38,656) |  |  | 11,322 |  |  | (27,334) |
Foreign currency translation adjustments, net of hedges: |  |  |  |  |  |  |  |  |  |  |  |
Net unrealized (losses) gains arising during the period |  | (1,126) |  |  | — |  |  | (1,126) |  |  | 3,728 |  |  | (18) |  |  | 3,710 |
Net change |  | (1,126) |  |  | — |  |  | (1,126) |  |  | 3,728 |  |  | (18) |  |  | 3,710 |
Other comprehensive income (loss) |  | $ | 308,347 |  |  | $ | (91,478) |  |  | $ | 216,869 |  |  | $ | (134,036) |  |  | $ | 40,591 |  |  | $ | (93,445) |
|  | Nine Months Ended September 30, |
|  | 2024 |  | 2023 |
($ in thousands) |  | Before-Tax |  | Tax Effect |  | Net-of-Tax |  | Before-Tax |  | Tax Effect |  | Net-of-Tax |
Debt securities: |  |  |  |  |  |  |  |  |  |  |  |  |
Net unrealized gains (losses) arising during the period |  | $ | 196,717 |  |  | $ | (58,096) |  |  | $ | 138,621 |  |  | $ | (102,262) |  |  | $ | 30,228 |  |  | $ | (72,034) |  |
Reclassification adjustments: |  |  |  |  |  |  |  |  |  |  |  |  |
Net realized (gains) losses on AFS debt securities reclassified into net income (1) |  | (1,979) |  |  | 585 |  |  | (1,394) |  |  | 10,000 |  | (4) | (2,956) |  |  | 7,044 |  |
Amortization of unrealized losses on transferred securities (2) |  | 11,587 |  |  | (3,426) |  |  | 8,161 |  |  | 11,994 |  |  | (3,546) |  |  | 8,448 |  |
Net change |  | 206,325 |  |  | (60,937) |  |  | 145,388 |  |  | (80,268) |  |  | 23,726 |  |  | (56,542) |  |
Cash flow hedges: |  |  |  |  |  |  |  |  |  |  |  |  |
Net unrealized losses arising during the period |  | (21,629) |  |  | 6,394 |  |  | (15,235) |  |  | (129,329) |  |  | 37,861 |  |  | (91,468) |  |
Net realized losses reclassified into net income (3) |  | 73,471 |  |  | (21,717) |  |  | 51,754 |  |  | 54,955 |  |  | (16,095) |  |  | 38,860 |  |
Net change |  | 51,842 |  |  | (15,323) |  |  | 36,519 |  |  | (74,374) |  |  | 21,766 |  |  | (52,608) |  |
Foreign currency translation adjustments, net of hedges: |  |  |  |  |  |  |  |  |  |  |  |  |
Net unrealized gains arising during the period |  | 1,558 |  |  | (173) |  |  | 1,385 |  |  | 247 |  |  | (845) |  |  | (598) |  |
Net change |  | 1,558 |  |  | (173) |  |  | 1,385 |  |  | 247 |  |  | (845) |  |  | (598) |  |
Other comprehensive income (loss) |  | $ | 259,725 |  |  | $ | (76,433) |  |  | $ | 183,292 |  |  | $ | (154,395) |  |  | $ | 44,647 |  |  | $ | (109,748) |  |
(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. In the first quarter of 2023, the pre-tax amount also included the terminated cash flow hedge where the forecasted cash flows were no longer probable to occur and was reported in Noninterest income on the Consolidated Statement of Income. (4)Represents the loss related to an AFS debt security that was written off in the first quarter of 2023.

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- 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/1943274/2147477250/944-220-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/1943274/2147478524/942-220-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
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