XML 29 R11.htm IDEA: XBRL DOCUMENT v3.6.0.2
Other Comprehensive Income (Loss)
 12 Months Ended
Dec. 31, 2016
Equity [Abstract]  
Other Comprehensive Income (Loss)
Other Comprehensive Income (Loss)
The changes in the balances of each component of Accumulated Other Comprehensive Income ("AOCI") for the years ended December 31, 2016 and 2015, 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, 2016
$
6

 
$
(3,124
)
 
$
(1,102
)
 
$
(4,220
)
Other comprehensive income (loss) before reclassifications
13

 
(294
)
 
(778
)
 
(1,059
)
Amounts reclassified from accumulated other comprehensive loss
—

 
186

 
—

 
186

Net current period other comprehensive income (loss)
13

 
(108
)
 
(778
)
 
(873
)
Balance as of December 31, 2016
$
19

 
$
(3,232
)
 
$
(1,880
)
 
$
(5,093
)

(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
)

The components of other comprehensive income (loss) are as follows:
For the Year Ended December 31,
2016
(In millions of dollars)
Pre-Tax
Tax (Credit)
Net of Tax
Foreign currency translation adjustments
$
(742
)
$
36

$
(778
)
Unrealized investment gains
21

8

13

Pension/post-retirement plans:
 
 
 
    Amortization of losses included in net periodic pension cost:
 
 
 
 Prior service losses (a)
3

1

2

Net actuarial losses (a)
166

46

120

Subtotal
169

47

122

     Effect of curtailment
102

38

64

Net losses arising during period
(855
)
(175
)
(680
)
Foreign currency translation adjustments
416

70

346

Other adjustments
49

9

40

Pension/post-retirement plans losses
(119
)
(11
)
(108
)
Other comprehensive (loss) income
$
(840
)
$
33

$
(873
)
(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,
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 adjustments
(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
(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.
The components of accumulated other comprehensive income (loss) are as follows:
(In millions of dollars)
December 31, 2016

 
December 31, 2015

Foreign currency translation adjustments (net of deferred tax adjustments of $(9) in 2016 and deferred tax adjustments of $8 in 2015, respectively)
$
(1,880
)
 
$
(1,102
)
Net unrealized investment gains (net of deferred tax liability of $10 in 2016 and $2 in 2015)
19

 
6

Net charges related to pension / post-retirement plans (net of deferred tax asset of $1,530 and $1,519 in 2016 and 2015, respectively)
(3,232
)
 
(3,124
)
 
$
(5,093
)
 
$
(4,220
)