v2.4.0.6
Other Comprehensive Income
 3 Months Ended
Mar. 31, 2013
Other Comprehensive Income [Abstract]  
Other Comprehensive Income

The components of other comprehensive income (OCI), reclassifications to net income by income statement line item, and the related tax effects were:

 

               
               
      Quarter ended March 31,
        2013  2012
       BeforeTax Net of BeforeTaxNet of
(in millions) taxeffect tax taxeffecttax
Foreign currency translation adjustments:         
 Net unrealized gains (losses) arising during the period$ (18) 2  (16)  10 (4) 6
Securities available for sale:         
 Net unrealized gains (losses) arising during the period  (634) 230  (404)  1,874 (704) 1,170
 Reclassification of net (gains) losses to net income:         
  Net (gains) losses on debt securities available for sale  (45) 17  (28)  7 (2) 5
  Net gains from equity investments  (68) 26  (42)  (233) 82 (151)
   Subtotal reclassifications to net income  (113) 43  (70)  (226) 80 (146)
Net unrealized gains (losses) arising during the period  (747) 273  (474)  1,648 (624) 1,024
Derivatives and hedging activities:         
 Net unrealized gains arising during the period  7 (2)  5  42 (12) 30
 Reclassification of net (gains) losses on cash flow hedges to         
  net income:         
   Interest income on loans  (116) 47  (69)  (129) 48 (81)
   Interest expense on long-term debt  27 (10)  17  22 (8) 14
   Salaries expense  2 (1)  1  - - -
    Subtotal reclassifications to net income (87) 36  (51)  (107) 40 (67)
Net unrealized losses arising during the period  (80) 34  (46)  (65) 28 (37)
Defined benefit plans adjustments:         
 Net actuarial gains (losses) arising during the period  6 (2)  4  (5) 2 (3)
 Reclassification of amounts to net periodic benefit costs (1):         
  Amortization of net actuarial loss  46 (18)  28  36 (13) 23
  Other  3 (1)  2  - - -
   Subtotal reclassifications to net periodic benefit costs  49 (19)  30  36 (13) 23
Net gains arising during the period  55 (21)  34  31 (11) 20
Other comprehensive income (loss)$ (790) 288  (502)  1,624 (611) 1,013
Less: Other comprehensive income from noncontrolling         
  interests, net of tax     3    4
   Wells Fargo other comprehensive income (loss), net of tax   $ (505)    1,009
               

  • These items are included in the computation of net periodic benefit cost which is recorded in employee benefit expense (see Note 15 for additional details).

 

Cumulative OCI balances were:

 

             
             
            Cumulative
    Foreign   Derivatives Defined other
    currency Securities and benefit compre-
    translation available hedging plans  hensive
(in millions) adjustments for sale activities adjustments income
Quarter ended March 31, 2013          
Balance, beginning of period$ 80  7,462  289  (2,181)  5,650
 Net unrealized gains (losses)           
  arising during the period  (16)  (404)  5  4  (411)
 Amounts reclassified from accumulated          
  other comprehensive income  -  (70)  (51)  30  (91)
 Net change  (16)  (474)  (46)  34  (502)
 Less: Other comprehensive income          
  from noncontrolling interests  -  3  -  -  3
Balance, end of period$ 64  6,985  243  (2,147)  5,145
Quarter ended March 31, 2012          
Balance, beginning of period$ 90  4,413  490  (1,786)  3,207
 Net unrealized gains (losses)           
  arising during the period  6  1,170  30  (3)  1,203
 Amounts reclassified from accumulated          
  other comprehensive income  -  (146)  (67)  23  (190)
 Net change  6  1,024  (37)  20  1,013
 Less: Other comprehensive income          
  from noncontrolling interests  -  4  -  -  4
Balance, end of period$ 96  5,433  453  (1,766)  4,216