BB&T 2012 Annual Report Download - page 136
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114
NOTE 12. Accumulated Other Comprehensive Income (Loss)
The balances in AOCI are shown in the following table:
December 31, 2012 December 31, 2011
Deferred After- Deferred After-
Pre-Tax Tax Expense Tax Pre-Tax Tax Expense Tax
Amount (Benefit) Amount Amount (Benefit) Amount
(Dollars in millions)
Unrecognized net pension and postretirement costs $ (1,146) $ (432) $ (714) $ (965) $ (362) $ (603)
Unrealized net gains (losses) on cash flow hedges (277) (104) (173) (254) (95) (159)
Unrealized net gains (losses) on securities
available for sale 960 362 598 421 158 263
FDIC’ s share of unrealized (gains) losses on
securities available for sale under loss
share agreements (410) (154) (256) (311) (116) (195)
Other, net (30) (16) (14) (37) (18) (19)
Total $ (903) $ (344) $ (559) $ (1,146) $ (433) $ (713)
As of December 31, 2012 and 2011, unrealized net losses on securities available for sale, excluding covered securities,
included $11 million and $55 million, respectively, of pre-tax losses related to other-than-temporarily impaired non-agency
RMBS where a portion of the loss was recognized in net income.
NOTE 13. Income Taxes
The provision for income taxes comprised the following:
Years Ended December 31,
2012 2011 2010
(Dollars in millions)
Current expense:
Federal $ 252 $ 83 $ 161
State 67 26 18
Foreign 2 2 2
Total current expense 321 111 181
Deferred expense (benefit):
Federal 417 163 (65)
State 26 22 (1)
Total deferred expense (benefit) 443 185 (66)
Provision for income taxes $ 764 $ 296 $ 115
The foreign income tax expense is related to income generated on assets controlled by a foreign subsidiary of Branch Bank.
The reasons for the difference between the provision for income taxes and the amount computed by applying the statutory
Federal income tax rate to income before income taxes were as follows: