Changes In Accumulated Other Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 2014

Changes In Accumulated Other Comprehensive Income (Loss)

(23) Changes In Accumulated Other Comprehensive Income (Loss)

The following tables show the changes in accumulated other comprehensive income (loss), net of taxes, by component as of and for the periods indicated:

(Amounts in millions)	Net unrealized investment gains (losses) (1)			Derivatives qualifying as hedges (2)			Foreign currency translation and other adjustments			Total
Balances as of January 1, 2014	$	926		$	1,319		$	297		$	2,542
OCI before reclassifications		1,595			788			(537	)		1,846
Amounts reclassified from (to) OCI		(12	)		(37	)		—			(49	)
Current period OCI		1,583			751			(537	)		1,797
Balances as of December 31, 2014 before noncontrolling interests		2,509			2,070			(240	)		4,339
Less: change in OCI attributable to noncontrolling interests		56			—			(163	)		(107	)
Balances as of December 31, 2014	$	2,453		$	2,070		$	(77	)	$	4,446

⁽¹⁾  Net of adjustments to DAC, PVFP, sales inducements and benefit reserves. See note 4 for additional information.

⁽²⁾  See note 5 for additional information.

(Amounts in millions)	Net unrealized investment gains (losses) (1)			Derivatives qualifying as hedges  (2)			Foreign currency translation and other adjustments			Total
Balances as of January 1, 2013	$	2,638		$	1,909		$	655		$	5,202
OCI before reclassifications		(1,772	)		(561	)		(442	)		(2,775	)
Amounts reclassified from (to) OCI		21			(29	)		—			(8	)
Current period OCI		(1,751	)		(590	)		(442	)		(2,783	)
Balances as of December 31, 2013 before noncontrolling interests		887			1,319			213			2,419
Less: change in OCI attributable to noncontrolling interests		(39	)		—			(84	)		(123	)
Balances as of December 31, 2013	$	926		$	1,319		$	297		$	2,542

⁽¹⁾  Net of adjustments to DAC, PVFP, sales inducements and benefit reserves. See note 4 for additional information.

⁽²⁾  See note 5 for additional information.

(Amounts in millions)	Net unrealized investment gains (losses) (1)		Derivatives qualifying as hedges (2)			Foreign currency translation and other adjustments		Total
Balances as of January 1, 2012	$	1,485	$	2,009		$	553	$	4,047
OCI before reclassifications		1,106		(77	)		126		1,155
Amounts reclassified from (to) OCI		50		(23	)		—		27
Current period OCI		1,156		(100	)		126		1,182
Balances as of December 31, 2012 before noncontrolling interests		2,641		1,909			679		5,229
Less: change in OCI attributable to noncontrolling interests		3		—			24		27
Balances as of December 31, 2012	$	2,638	$	1,909		$	655	$	5,202

⁽¹⁾  Net of adjustments to DAC, PVFP, sales inducements and benefit reserves. See note 4 for additional information.

⁽²⁾  See note 5 for additional information.

The foreign currency translation and other adjustments balance included $37 million, $6 million and $26 million, respectively, net of taxes of $14 million, $1 million and $15 million, respectively, related to a net unrecognized postretirement benefit obligation as of December 31, 2014, 2013 and 2012. Amount also included taxes of $(10) million, $39 million and $58 million, respectively, related to foreign currency translation adjustments as of December 31, 2014, 2013 and 2012.

The following table shows reclassifications out of accumulated other comprehensive income (loss), net of taxes, for the periods presented:

	Amount reclassified from accumulated other comprehensive income (loss)									Affected line item in the consolidated statements of income
	Years ended December 31,
(Amounts in millions)	2014			2013			2012
Net unrealized investment (gains) losses:
Unrealized (gains) losses on investments (1)	$	(19	)	$	33		$	77		Net investment (gains) losses
Provision for income taxes		7			(12	)		(27	)	Provision for income taxes
Total	$	(12	)	$	21		$	50
Derivatives qualifying as hedges:
Interest rate swaps hedging assets	$	(63	)	$	(47	)	$	(40	)	Net investment income
Interest rate swaps hedging assets		(2	)		(1	)		(2	)	Net investment (gains) losses
Interest rate swaps hedging liabilities		(1	)		(2	)		(2	)	Interest expense
Inflation indexed swaps		9			5			9		Net investment income
Provision for income taxes		20			16			12		Provision for income taxes
Total	$	(37	)	$	(29	)	$	(23	)

⁽¹⁾  Amounts exclude adjustments to DAC, PVFP, sales inducements and benefit reserves.