Wells Fargo 2014 Annual Report Download - page 253

2012
Note 23: Other Comprehensive Income
The following table provides the components of other
comprehensive income (OCI), reclassifications to net income by
income statement line item, and the related tax effects.
Year ended December 31,
2014 2013
Before Tax Net of Before Tax Net of Before Tax Net of
(in millions) tax effect tax tax effect tax tax effect tax
Investment securities:
Net unrealized gains (losses) arising
during the period $ 5,426 (2,111) 3,315 (7,661) 2,981 (4,680) 5,143 (1,921) 3,222
Reclassification of net (gains) losses to
net income:
Interest income on investment
securities (1) (37) 14 (23) — — — — — —
Net (gains) losses on debt securities (593) 224 (369) 29 (11) 18 128 (48) 80
Net gains from equity investments (901) 340 (561) (314) 118 (196) (399) 150 (249)
Other noninterest income (1) — (1) — — — — — —
Subtotal reclassifications to net
income (1,532) 578 (954) (285) 107 (178) (271) 102 (169)
Net change 3,894 (1,533) 2,361 (7,946) 3,088 (4,858) 4,872 (1,819) 3,053
Derivatives and hedging activities:
Net unrealized gains (losses) arising
during the period 952 (359) 593 (32) 12 (20) 52 (12) 40
Reclassification of net (gains) losses to
net income:
Interest income on loans (588) 222 (366) (426) 156 (270) (490) 185 (305)
Interest expense on long-term debt 44 (17) 27 91 (34) 57 96 (36) 60
Noninterest income — — — 35 (13) 22 — — —
Salaries expense — — — 4 (2) 2 6 (2) 4
Interest income on investment
securities (1) — (1) — — — — — —
Subtotal reclassifications
to net income (545) 205 (340) (296) 107 (189) (388) 147 (241)
Net change 407 (154) 253 (328) 119 (209) (336) 135 (201)
Defined benefit plans adjustments:
Net actuarial gains (losses) arising
during the period (1,116) 420 (696) 1,533 (578) 955 (775) 290 (485)
Reclassification of amounts to net
periodic benefit costs (2):
Amortization of net actuarial loss 74 (28) 46 151 (57) 94 141 (53) 88
Settlements and other — — — 125 (46) 79 3 (1) 2
Subtotal reclassifications to net
periodic benefit costs 74 (28) 46 276 (103) 173 144 (54) 90
Net change (1,042) 392 (650) 1,809 (681) 1,128 (631) 236 (395)
Foreign currency translation adjustments:
Net unrealized losses arising during the
period (60) (5) (65) (44) (7) (51) (6) 2 (4)
Reclassification of net gains to net
income:
Noninterest income 6 — 6 (12) 5 (7) (10) 4 (6)
Net change (54) (5) (59) (56) (2) (58) (16) 6 (10)
Other comprehensive income (loss) $ 3,205 (1,300) 1,905 (6,521) 2,524 (3,997) 3,889 (1,442) 2,447
Less: Other comprehensive income (loss)
from noncontrolling interests, net of tax (227) 267 4
Wells Fargo other comprehensive
income (loss), net of tax $ 2,132 (4,264) 2,443
(1) Represents unrealized gains amortized over the remaining lives of securities that were transferred from the available-for-sale portfolio to the held-to-maturity portfolio.
(2) These items are included in the computation of net periodic benefit cost, which is recorded in employee benefits expense (see Note 20 (Employee Benefits and Other
Expenses) for additional details).
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