M&T BANK CORP
For the period ended Mar 31, 2025. Filed May 5, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2025 · Filed May 5, 2025
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9. Comprehensive income
- Comprehensive income
The following tables display the components of other comprehensive income (loss) and amounts reclassified from accumulated other comprehensive income (loss) to net income:
| (Dollars in millions) | InvestmentSecurities | Cash Flow Hedges | Defined Benefit Plans | Other | TotalAmountBefore Tax | IncomeTax | Net |
|---|---|---|---|---|---|---|---|
| Balance — January 1, 2025 | $(205) | $(135) | $131 | $(10) | $(219) | $55 | $(164) |
| Other comprehensive income (loss) before reclassifications: | |||||||
| Unrealized holding gains, net | 197 | — | — | — | 197 | (50) | 147 |
| Unrealized gains on cash flow hedges | — | 91 | — | — | 91 | (23) | 68 |
| Other | — | — | — | 1 | 1 | — | 1 |
| Total other comprehensive income (loss) before reclassifications | 197 | 91 | — | 1 | 289 | (73) | 216 |
| Amounts reclassified from accumulated other comprehensive income that (increase) decrease net income: | |||||||
| Net yield adjustment from cash flow hedges currently in effect | — | 53 | — | — | 53(a) | (13) | 40 |
| Amortization of actuarial gains | — | — | (2) | — | (2)(b) | — | (2) |
| Total other comprehensive income (loss) | 197 | 144 | (2) | 1 | 340 | (86) | 254 |
| Balance — March 31, 2025 | $(8) | $9 | $129 | $(9) | $121 | $(31) | $90 |
| Balance — January 1, 2024 | $(251) | $(203) | $(155) | $(7) | $(616) | $157 | $(459) |
| Other comprehensive income (loss) before reclassifications: | |||||||
| Unrealized holding losses, net | (13) | — | — | — | (13) | 2 | (11) |
| Unrealized losses on cash flow hedges | — | (243) | — | — | (243) | 60 | (183) |
| Other | — | — | — | (2) | (2) | — | (2) |
| Total other comprehensive income (loss) before reclassifications | (13) | (243) | — | (2) | (258) | 62 | (196) |
| Amounts reclassified from accumulated other comprehensive income that (increase) decrease net income: | |||||||
| Losses realized in net income | 1 | — | — | — | 1 | — | 1 |
| Net yield adjustment from cash flow hedges currently in effect | — | 87 | — | — | 87(a) | (21) | 66 |
| Amortization of actuarial gains | — | — | (1) | — | (1)(b) | — | (1) |
| Total other comprehensive income (loss) | (12) | (156) | (1) | (2) | (171) | 41 | (130) |
| Balance — March 31, 2024 | $(263) | $(359) | $(156) | $(9) | $(787) | $198 | $(589) |
(a)Included in Interest income in the Consolidated Statement of Income.
(b)Included in Other costs of operations in the Consolidated Statement of Income.
Accumulated other comprehensive income (loss), net consisted of the following:
| (Dollars in millions) | Investment Securities | Cash Flow Hedges | Defined Benefit Plans | Other | Total |
|---|---|---|---|---|---|
| Balance — December 31, 2024 | $(153) | $(101) | $98 | $(8) | $(164) |
| Net gain (loss) during period | 147 | 108 | (2) | 1 | 254 |
| Balance — March 31, 2025 | $(6) | $7 | $96 | $(7) | $90 |
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