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Accumulated Other Comprehensive Loss (Tables) | 3 Months Ended
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Mar. 31, 2024
Equity [Abstract] |
Schedule of Accumulated Other Comprehensive Loss | The following table presents changes, net of tax, in each component of accumulated other comprehensive loss.
| Investment securities (a) |  |  |  |  |  |  |  |
($ in millions) | Available- for-sale securities (b) |  | Held-to-maturity securities |  | Translation adjustments and net investment hedges (c) |  | Cash flow hedges (c) |  |  |  | Accumulated other comprehensive loss
Balance at January 1, 2023 | $ | (4,095) |  |  | $ | — |  |  | $ | 18 |  |  | $ | 18 |  |  |  |  | $ | (4,059) |
Net change | 284 |  |  | — |  |  | — |  |  | (1) |  |  |  |  | 283 |
Balance at March 31, 2023 | $ | (3,811) |  |  | $ | — |  |  | $ | 18 |  |  | $ | 17 |  |  |  |  | $ | (3,776) |
Balance at January 1, 2024 | $ | (3,146) |  |  | $ | (682) |  |  | $ | 21 |  |  | $ | (9) |  |  |  |  | $ | (3,816) |
Net change | (171) |  |  | 15 |  |  | (1) |  |  | (16) |  |  |  |  | (173) |
Balance at March 31, 2024 | $ | (3,317) |  |  | $ | (667) |  |  | $ | 20 |  |  | $ | (25) |  |  |  |  | $ | (3,989) |
(a)For additional information on the securities transferred from available-for-sale to held-to-maturity during 2023, refer to Note 7. (b)Represents the after-tax difference between the fair value and amortized cost of our available-for-sale securities portfolio. Refer to Note 7 for additional information. (c)For additional information on derivative instruments and hedging activities, refer to Note 19.
Schedule of Reclassification Out of Accumulated Other Comprehensive Loss | The following tables present the before- and after-tax changes in each component of accumulated other comprehensive loss.
Three months ended March 31, 2024 ($ in millions) | Before tax |  | Tax effect |  | After tax
Investment securities |  |  |  |  |
Available-for-sale securities |  |  |  |  |
Net unrealized losses arising during the period | $ | (223) |  |  | $ | 53 |  |  | $ | (170) |
Less: Net realized gains reclassified to income from continuing operations | 1 |  | (a) | — |  | (b) | 1 |
Net change | (224) |  |  | 53 |  |  | (171) |
Held-to-maturity securities |  |  |  |  |
Less: Amortization of amounts previously recorded upon transfer from available-for-sale (c) | (20) |  | (d) | 5 |  | (b) | (15) |
Translation adjustments |  |  |  |  |
Net unrealized losses arising during the period | (5) |  |  | 1 |  |  | (4) |
Net investment hedges (e) |  |  |  |  |
Net unrealized gains arising during the period | 4 |  |  | (1) |  |  | 3 |
Cash flow hedges (e) |  |  |  |  |
Net unrealized losses arising during the period | (22) |  |  | 5 |  |  | (17) |
Less: Net realized losses reclassified to income from continuing operations | (1) |  | (f) | — |  | (b) | (1) |
Net change | (21) |  |  | 5 |  |  | (16) |
Other comprehensive loss | $ | (226) |  |  | $ | 53 |  |  | $ | (173) |
(a)Includes gains reclassified to other gain on investments, net in our Condensed Consolidated Statement of Comprehensive (Loss) Income. (b)Includes amounts reclassified to income tax expense from continuing operations in our Condensed Consolidated Statement of Comprehensive (Loss) Income. (c)For additional information on the securities transferred from available-for-sale to held-to-maturity, refer to Note 7. (d)Includes amounts reclassified to interest and dividends on investment securities and other earning assets in our Condensed Consolidated Statement of Comprehensive (Loss) Income. (e)For additional information on derivative instruments and hedging activities, refer to Note 19. (f)Includes losses reclassified to interest and fees on finance receivables and loans in our Condensed Consolidated Statement of Comprehensive (Loss) Income.
Three months ended March 31, 2023 ($ in millions) | Before tax |  | Tax effect |  | After tax
Investment securities |  |  |  |  |
Available-for-sale securities |  |  |  |  |
Net unrealized gains arising during the period | $ | 377 |  |  | $ | (89) |  |  | $ | 288 |
Less: Net realized gains reclassified to income from continuing operations | 5 | (a) | (1) |  | (b) | 4
Net change | 372 |  |  | (88) |  |  | 284 |
Cash flow hedges (c) |  |  |  |  |
Net unrealized gains arising during the period | 4 |  |  | (1) |  |  | 3 |
Less: Net realized gains reclassified to income from continuing operations | 5 |  | (d) | (1) |  | (b) | 4 |
Net change | (1) |  |  | — |  |  | (1) |
Other comprehensive income | $ | 371 |  |  | $ | (88) |  |  | $ | 283 |
(a)Includes gains reclassified to other gain on investments, net in our Condensed Consolidated Statement of Comprehensive (Loss) Income. (b)Includes amounts reclassified to income tax expense from continuing operations in our Condensed Consolidated Statement of Comprehensive (Loss) Income. (c)For additional information on derivative instruments and hedging activities, refer to Note 19. (d)Includes gains reclassified to interest and fees on finance receivables and loans in our Condensed Consolidated Statement of Comprehensive (Loss) Income.

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