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Other Comprehensive Income (Loss) (Tables)
 12 Months Ended
Dec. 31, 2015
Equity [Abstract]  
Schedule of accumulated other comprehensive income (loss)
The changes in the balances of each component of Accumulated Other Comprehensive Income ("AOCI") for the years ended December 31, 2015 and 2014, including amounts reclassified out of AOCI, are as follows:
(In millions of dollars)
Unrealized Investment Gains
 
Pension/Post-Retirement Plans Gains (Losses)
 
Foreign Currency Translation Adjustments
 
Total
Balance as of January 1, 2015
$
5

 
$
(3,393
)
 
$
(459
)
 
$
(3,847
)
Other comprehensive income (loss) before reclassifications
1

 
101

 
(643
)
 
(541
)
Amounts reclassified from accumulated other comprehensive loss
—

 
168

 
—

 
168

Net current period other comprehensive income (loss)
1

 
269

 
(643
)
 
(373
)
Balance as of December 31, 2015
$
6

 
$
(3,124
)
 
$
(1,102
)
 
$
(4,220
)

(In millions of dollars)
Unrealized Investment Gains
 
Pension/Post-Retirement Plans Gains (Losses)
 
Foreign Currency Translation Adjustments
 
Total
Balance as of January 1, 2014
$
5

 
$
(2,682
)
 
$
56

 
$
(2,621
)
Other comprehensive loss before reclassifications
—

 
(816
)
 
(515
)
 
(1,331
)
Amounts reclassified from accumulated other comprehensive loss
—

 
105

 
—

 
105

Net current period other comprehensive loss
—

 
(711
)
 
(515
)
 
(1,226
)
Balance as of December 31, 2014
$
5

 
$
(3,393
)
 
$
(459
)
 
$
(3,847
)
The components of accumulated other comprehensive income (loss) are as follows:
(In millions of dollars)
December 31, 2015

 
December 31, 2014

Foreign currency translation adjustments (net of deferred tax asset of $8 and $5 in 2015 and 2014, respectively)
$
(1,102
)
 
$
(459
)
Net unrealized investment gains (net of deferred tax liability of $2 in both 2015 and 2014)
6

 
5

Net charges related to pension / post-retirement plans (net of deferred tax asset of $1,519 and $1,587 in 2015 and 2014, respectively)
(3,124
)
 
(3,393
)
 
$
(4,220
)
 
$
(3,847
)
Schedule of other comprehensive income (loss)
The components of other comprehensive income (loss) are as follows:
For the Year Ended December 31,
2015
(In millions of dollars)
Pre-Tax
Tax (Credit)
Net of Tax
Foreign currency translation adjustments
$
(639
)
$
4

$
(643
)
Unrealized investment gains
1

—

1

Pension/post-retirement plans:
 
 
 
    Amortization of losses (gains) included in net periodic pension cost:
 
 
 
 Prior service credits (a)
(1
)
—

(1
)
Net actuarial losses (a)
271

96

175

Subtotal
270

96

174

     Effect of curtailment
(3
)
—

(3
)
     Plan Termination
(6
)
(3
)
(3
)
Net losses arising during period
(125
)
(62
)
(63
)
Foreign currency translation adjustments
214

43

171

Other
(13
)
(6
)
(7
)
Pension/post-retirement plans gains
337

68

269

Other comprehensive (loss) income
$
(301
)
$
72

$
(373
)
(a) Components of net periodic pension cost are included in compensation and benefits in the Consolidated Statements of Income. Tax on prior service gains and net actuarial losses is included in income tax expense.
For the Year Ended December 31,
2014
(In millions of dollars)
Pre-Tax
Tax (Credit)
Net of Tax
Foreign currency translation adjustments
$
(527
)
$
(12
)
$
(515
)
Pension/post-retirement plans:
 
 
 
Amortization of losses (gains) included in net periodic pension cost:
 
 
 
Prior service credits (a)
(16
)
(5
)
(11
)
Net actuarial losses (a)
242

74

168

Subtotal
226

69

157

     Effect of curtailment
(65
)
(13
)
(52
)
Net losses arising during period
(1,418
)
(466
)
(952
)
Foreign currency translation adjustments
180

39

141

Other adjustments
(8
)
(3
)
(5
)
Pension/post-retirement plans losses
(1,085
)
(374
)
(711
)
Other comprehensive loss
$
(1,612
)
$
(386
)
$
(1,226
)
(a) Components of net periodic pension cost are included in compensation and benefits in the Consolidated Statements of Income. Tax on prior service gains and net actuarial losses is included in income tax expense.
For the Year Ended December 31,
2013
(In millions of dollars)
Pre-Tax
Tax (Credit)
Net of Tax
Foreign currency translation adjustments
$
(86
)
$
(2
)
$
(84
)
Unrealized investment gains
1

—

1

Pension/post-retirement plans:
 
 
 
Amortization of losses (gains) included in net periodic pension cost:
 
 
 
 Prior service credits (a)
(22
)
(8
)
(14
)
Net actuarial losses (a)
317

108

209

Subtotal
295

100

195

Net gains arising during period
898

339

559

Foreign currency translation adjustments
27

8

19

Other
(7
)
(3
)
(4
)
Pension/post-retirement plans gains
1,213

444

769

Other comprehensive income
$
1,128

$
442

$
686


(a) Components of net periodic pension cost are included in compensation and benefits in the Consolidated Statements of Income. Tax on prior service gains and net actuarial losses is included in income tax expense.