Changes in each component of AOCI were as follows (dollars in millions):


	Unrealized (Losses) Gains on Available-for-Sale Investment Securities, Net of Tax		Losses on Cash Flow Hedges, Net of Tax		Losses on Pension Plan, Net of Tax		AOCI
For the Year Ended December 31, 2023
Balance at December 31, 2022	$	(136)	$	(14)	$	(189)	$	(339)
Net change	99		6		9		114
Balance at December 31, 2023	$	(37)	$	(8)	$	(180)	$	(225)

For the Year Ended December 31, 2022
Balance at December 31, 2021	$	114	$	(9)	$	(199)	$	(94)
Net change	(250)		(5)		10		(245)
Balance at December 31, 2022	$	(136)	$	(14)	$	(189)	$	(339)

For the Year Ended December 31, 2021
Balance at December 31, 2020	$	284	$	(12)	$	(227)	$	45
Net change	(170)		3		28		(139)
Balance at December 31, 2021	$	114	$	(9)	$	(199)	$	(94)

The following table presents each component of OCI before reclassifications and amounts reclassified from AOCI for each component of OCI before- and after-tax (dollars in millions):


	Before Tax		Tax (Expense) Benefit		Net of Tax
For the Year Ended December 31, 2023
Available-for-Sale Investment Securities
Net unrealized holding gains arising during the period	$	131	$	(32)	$	99

Net change	$	131	$	(32)	$	99
Cash Flow Hedges
Net unrealized losses arising during the period	$	(74)	$	18	$	(56)
Amounts reclassified from AOCI	82		(20)		62
Net change	$	8	$	(2)	$	6
Pension Plan
Unrealized gains arising during the period	$	12	$	(3)	$	9
Net change	$	12	$	(3)	$	9

For the Year Ended December 31, 2022
Available-for-Sale Investment Securities
Net unrealized holding losses arising during the period	$	(331)	$	81	$	(250)

Net change	$	(331)	$	81	$	(250)
Cash Flow Hedges
Net unrealized losses arising during the period	$	(13)	$	3	$	(10)
Amounts reclassified from AOCI	4		1		5
Net change	$	(9)	$	4	$	(5)
Pension Plan
Unrealized gains arising during the period	$	13	$	(3)	$	10
Net change	$	13	$	(3)	$	10

For the Year Ended December 31, 2021
Available-for-Sale Investment Securities
Net unrealized holding losses arising during the period	$	(226)	$	56	$	(170)

Net change	$	(226)	$	56	$	(170)
Cash Flow Hedges
Net unrealized losses arising during the period	$	(1)	$	1	$	—
Amounts reclassified from AOCI	3		—		3
Net change	$	2	$	1	$	3
Pension Plan
Unrealized gains arising during the period	$	37	$	(9)	$	28
Net change	$	37	$	(9)	$	28