Accumulated Other Comprehensive Loss (Tables)

3 Months Ended

Mar. 31, 2023

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Schedule Of Accumulated Other Comprehensive Loss

The following table presents a reconciliation of the changes in the components of accumulated other comprehensive income (loss) and details the components of other comprehensive income (loss) for the three months ended March 31, 2023 and 2022, including the amount of income tax expense (benefit) allocated to each component of other comprehensive income (loss).


	Three Months Ended March 31,
(in millions)	2023		2022
Accumulated net unrealized losses on investment securities:
Balance at beginning of period, net of tax	$	(2,319)	$	(99)


Net unrealized holding gains (losses) arising during the period	309		(965)
Less: Provision (benefit) for income taxes	73		(227)










Change in net unrealized losses on investment securities, net of tax	236		(738)
Balance at end of period, net of tax	$	(2,083)	$	(837)
Accumulated net losses on cash flow hedges:
Balance at beginning of period, net of tax	$	(942)	$	55
Net cash flow hedge gains (losses) arising during the period	316		(271)
Less: Provision (benefit) for income taxes	74		(64)
Change in net cash flow hedge losses arising during the period, net of tax	242		(207)
Less:
Net cash flow (losses) gains included in interest and fees on loans	(119)		22
Less: (Benefit) provision for income taxes	(28)		5
Reclassification adjustment for net cash flow hedge (losses) gains included in net income, net of tax	(91)		17
Change in net cash flow hedge losses, net of tax	333		(224)
Balance at end of period, net of tax (a)	$	(609)	$	(169)
Accumulated defined benefit pension and other postretirement plans adjustment:
Balance at beginning of period, net of tax	$	(481)	$	(168)





Amounts recognized in other noninterest expenses:
Amortization of actuarial net loss	9		7
Amortization of prior service credit	(6)		(6)

Total amounts recognized in other noninterest expenses	3		1
Less: Provision for income taxes	1		—
Adjustment for amounts recognized as components of net periodic benefit credit during the period, net of tax	2		1
Change in defined benefit pension and other postretirement plans adjustment, net of tax	2		1
Balance at end of period, net of tax	$	(479)	$	(167)












Total accumulated other comprehensive loss at end of period, net of tax	$	(3,171)	$	(1,173)

(a)The Corporation expects to reclassify $381 million of losses, net of tax, from accumulated other comprehensive loss to earnings over the next twelve months if interest yield curves and notional amounts remain at March 31, 2023 levels.