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UNAUDITED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Other comprehensive income, net of tax    
Net income (1) [1] $ 765 $ 607
Foreign currency translation adjustments, net of tax charge of $8 and tax benefit of $16, respectively (2) [2] (12) 61
Net unrealized gains on debt securities, net of tax charge of $51 and tax benefit of $2, respectively (1) [1] 159 0
Comprehensive income $ 912 $ 668
[1] The Company realized net gains of $1 million for the three months ended March 31, 2019 from sales of investments in debt securities.
[2] Foreign currency translation adjustments result from currency fluctuations on the translation of the Company's non-U.S. Dollar denominated net assets, net of the impact of net investment hedges. During the three months ended March 31, 2019 and 2018, the Company recorded a tax benefit of $11 million and a tax charge of $10 million, respectively, related to foreign currency translation adjustments to its one-time deemed repatriation tax liability recorded at December 31, 2017 and foreign earnings for periods after December 31, 2017 that are subject to U.S. federal and state income tax, resulting from the introduction of the U.S. Tax Cuts and Jobs Act (the "Tax Act"). Foreign currency translation adjustments also include a tax charge of $19 million and a tax benefit of $26 million for the three months ended March 31, 2019 and 2018, respectively, associated with the Company's Euro-denominated debt, which was designated as a net investment hedge against the impact of currency fluctuations on the Company's Euro-denominated net assets (see Note 9).