AMERICAN EXPRESS CO 10-K form for the fiscal year ended 2023-12-31, page 95: 
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
|    |                                                                      |      |       |      |       |      |       |       |    |       |
|---:|:---------------------------------------------------------------------|:-----|:------|:-----|:------|:-----|:------|:------|:---|:------|
|  1 | Year Ended December 31 (Millions)                                    | 2023 |       | 2022 |       | 2021 |       |       |    |       |
|  2 | Net income                                                           | $    | 8,374 |      |       | $    | 7,514 |       | $  | 8,060 |
|  3 | Other comprehensive income (loss):                                   |      |       |      |       |      |       |       |    |       |
|  4 | Net unrealized debt securities gains (losses), net of tax            |      |       |      | (87)  |      |       | (42)  |    |       |
|  5 | Foreign currency translation adjustments, net of hedges and tax      |      |       |      | (230) |      |       | (163) |    |       |
|  6 | Net unrealized pension and other postretirement benefits, net of tax | 37   |       |      | 52    |      |       | 155   |    |       |
|  7 | Other comprehensive income (loss)                                    | 138  |       |      | (265) |      |       | (50)  |    |       |
|  8 | Comprehensive income                                                 | $    | 8,512 |      |       | $    | 7,249 |       | $  | 8,010 |

See Notes to Consolidated Financial Statements.

95




, Discover Financial Services 10-K form for the fiscal year ended 2023-12-31, page 87: 
DISCOVER FINANCIAL SERVICES


Consolidated Statements of Comprehensive Income


(dollars in millions)
|    |                                                                                   |                                  |       |      |       |      |       |       |    |       |
|---:|:----------------------------------------------------------------------------------|:---------------------------------|:------|:-----|:------|:-----|:------|:------|:---|:------|
|  1 |                                                                                   | For the Years Ended December 31, |       |      |       |      |       |       |    |       |
|  2 |                                                                                   | 2023                             |       | 2022 |       | 2021 |       |       |    |       |
|  3 | Net income                                                                        | $                                | 2,940 |      |       | $    | 4,374 |       | $  | 5,422 |
|  4 | Other comprehensive income (loss), net of tax                                     |                                  |       |      |       |      |       |       |    |       |
|  5 | Unrealized gains (losses) on available-for-sale investment securities, net of tax | 99                               |       |      | (250) |      |       | (170) |    |       |
|  6 | Unrealized gains (losses) on cash flow hedges, net of tax                         | 6                                |       |      | (5)   |      |       | 3     |    |       |
|  7 | Unrealized pension and post-retirement plan gains, net of tax                     | 9                                |       |      | 10    |      |       | 28    |    |       |
|  8 | Other comprehensive income (loss)                                                 | 114                              |       |      | (245) |      |       | (139) |    |       |
|  9 | Comprehensive income                                                              | $                                | 3,054 |      |       | $    | 4,129 |       | $  | 5,283 |

See Notes to the Consolidated Financial Statements.

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Question: Analyze the net unrealized gains or losses on investment securities for American Express and Discover Financial Services in 2023. How do these gains or losses affect their comprehensive income?
Answer: In 2023, American Express reported net unrealized gains on debt securities of $50 million, contributing positively to their other comprehensive income. This indicates that the value of their investment securities increased, enhancing their overall financial position. Discover Financial Services, on the other hand, reported net unrealized gains on available-for-sale investment securities of $99 million in 2023. This also positively impacted their other comprehensive income, reflecting an increase in the value of their investment portfolio. Both companies experienced positive net unrealized gains on investment securities, which contributed to higher comprehensive income and improved their financial health.