Annual report pursuant to Section 13 and 15(d)

Comprehensive Income

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Comprehensive Income
 12 Months Ended
Dec. 31, 2011
Comprehensive Income (Loss) [Abstract]  
Comprehensive Income [Text Block]

Note 27: Comprehensive Income

 

The components of total comprehensive income were as follows:

(In Millions) 2011   2010   2009
Net income $ 12,942   $ 11,464   $ 4,369
Other comprehensive income (loss)   (1,114)     (60)     786
Total comprehensive income $ 11,828   $ 11,404   $ 5,155

The components of other comprehensive income (loss) and related tax effects were as follows:

    2011   2010   2009
    Before       Net of   Before       Net of   Before       Net of
(In Millions) Tax   Tax   Tax   Tax   Tax   Tax   Tax   Tax   Tax
Change in unrealized holding                                                    
  gain (loss) on investments $ 35   $ (13)   $ 22   $ 311   $ (111)   $ 200   $ 578   $ (210)   $ 368
Less: adjustment for (gain) loss on                                                    
  investments included in net income   (299)     107     (192)     (94)     34     (60)     50     (18)     32
Change in deferred tax asset                                                    
  valuation allowance   —     —     —     —     72     72     —     152     152
Less: adjustment for (gain) loss on                                                    
  deferred tax asset valuation                                                    
  allowance included in net income   —     (99)     (99)     —     (15)     (15)     —     (6)     (6)
Change in unrealized holding                                                    
  gain (loss) on derivatives   20     (16)     4     73     (23)     50     75     (4)     71
Less: adjustment for amortization                                                    
  of (gain) loss on derivatives   (161)     38     (123)     (80)     17     (63)     22     (1)     21
Change in prior service costs   —     —     —     (67)     24     (43)     21     (7)     14
Less: adjustment for amortization                                                    
  of prior service costs   7     (3)     4     7     (3)     4     (1)     —     (1)
Change in actuarial loss   (900)     284     (616)     (300)     81     (219)     132     (15)     117
Less: adjustment for amortization                                                    
  of actuarial loss   43     (15)     28     22     (8)     14     26     (8)     18
Change in net foreign currency                                                    
  translation adjustment   (155)     13     (142)     —     —     —     —     —     —
Total other comprehensive income                                                    
  (loss) $ (1,410)   $ 296   $ (1,114)   $ (128)   $ 68   $ (60)   $ 903   $ (117)   $ 786

The change in deferred tax asset valuation allowance in the preceding table is related to the reversal of a portion of our deferred tax asset valuation allowance attributed to changes in unrealized holding gains on our available-for-sale investments. The amount is reduced and included in our provision for taxes as these investments are sold or mature.

 

The components of accumulated other comprehensive income (loss), net of tax, were as follows:

(In Millions) 2011   2010
Accumulated net unrealized holding gain (loss) on available-for-sale investments $ 231   $ 401
Accumulated net deferred tax asset valuation allowance   104     203
Accumulated net unrealized holding gain on derivatives   8     127
Accumulated net prior service costs   (32)     (36)
Accumulated net actuarial losses   (950)     (362)
Accumulated net foreign currency translation adjustment   (142)     —
Total accumulated other comprehensive income (loss) $ (781)   $ 333

The estimated net prior service cost and actuarial loss for the defined benefit plan that will be amortized from accumulated other comprehensive income (loss) into net periodic benefit cost during 2012 are $5 million and $91 million, respectively.