Other Comprehensive Income (Loss)

The changes, net of tax, in the balances of each component of Accumulated Other Comprehensive Income ("AOCI") for the three and six-month periods ended June 30, 2017 and 2016, including amounts reclassified out of AOCI, are as follows:



(In millions)	Unrealized Investment Gains		Pension/Post-Retirement Plans Gains (Losses)			Foreign Currency Translation Gains (Losses)			Total Gains (Losses)
Balance as of April 1, 2017	$	16	$	(3,208	)	$	(1,645	)	$	(4,837	)
Other comprehensive income (loss) before reclassifications	14		(40		)	289			263
Amounts reclassified from accumulated other comprehensive income	—		33			—			33
Net current period other comprehensive income (loss)	14		(7		)	289			296
Balance as of June 30, 2017	$	30	$	(3,215	)	$	(1,356	)	$	(4,541	)



(In millions)	Unrealized Investment Gains		Pension/Post-Retirement Plans Gains (Losses)			Foreign Currency Translation Gains (Losses)			Total Gains (Losses)
Balance as of April 1, 2016	$	6	$	(3,014	)	$	(1,089	)	$	(4,097	)
Other comprehensive income (loss) before reclassifications	—		98			(333		)	(235		)
Amounts reclassified from accumulated other comprehensive income	—		31			—			31
Net current period other comprehensive income (loss)	—		129			(333		)	(204		)
Balance as of June 30, 2016	$	6	$	(2,885	)	$	(1,422	)	$	(4,301	)



(In millions)	Unrealized Investment Gains		Pension/Post-Retirement Plans Gains (Losses)			Foreign Currency Translation Gains (Losses)			Total Gains (Losses)
Balance as of January 1, 2017	$	19	$	(3,232	)	$	(1,880	)	$	(5,093	)
Other comprehensive income (loss) before reclassifications	11		(46		)	524			489
Amounts reclassified from accumulated other comprehensive income	—		63			—			63
Net current period other comprehensive income (loss)	11		17			524			552
Balance as of June 30, 2017	$	30	$	(3,215	)	$	(1,356	)	$	(4,541	)



(In millions)	Unrealized Investment Gains		Pension/Post-Retirement Plans Gains (Losses)			Foreign Currency Translation Gains (Losses)			Total Gains (Losses)
Balance as of January 1, 2016	$	6	$	(3,124	)	$	(1,102	)	$	(4,220	)
Other comprehensive income (loss) before reclassifications	—		178			(320		)	(142		)
Amounts reclassified from accumulated other comprehensive income	—		61			—			61
Net current period other comprehensive income (loss)	—		239			(320		)	(81		)
Balance as of June 30, 2016	$	6	$	(2,885	)	$	(1,422	)	$	(4,301	)

The components of other comprehensive income (loss) for the three and six-month periods ended June 30, 2017 and 2016 are as follows:



Three Months Ended June 30,	2017									2016
(In millions)	Pre-Tax			Tax (Credit)			Net of Tax			Pre-Tax			Tax (Credit)			Net of Tax
Foreign currency translation adjustments	$	290		$	1		$	289		$	(334	)	$	(1	)	$	(333	)
Unrealized investment gains	24			10			14			—			—			—
Pension/post-retirement plans:
Amortization of losses included in net periodic pension cost:
Net actuarial losses (a)	42			9			33			43			12			31
Subtotal	42			9			33			43			12			31
Effect of remeasurement	—			1			(1		)	—			—			—
Effect of curtailment	—			—			—			3			1			2
Foreign currency translation (losses) gains	(47		)	(8		)	(39		)	116			21			95
Other	—			—			—			1			—			1
Pension/post-retirement plans gains (losses)	(5		)	2			(7		)	163			34			129
Other comprehensive income (loss)	$	309		$	13		$	296		$	(171	)	$	33		$	(204	)
(a) Components of net periodic pension cost are included in compensation and benefits in the consolidated statements of income. Income tax credits on prior service losses and net actuarial losses are included in income tax expense.



Six Months Ended June 30,	2017									2016
(In millions)	Pre-Tax			Tax (Credit)			Net of Tax			Pre-Tax			Tax (Credit)			Net of Tax
Foreign currency translation adjustments	$	525		$	1		$	524		$	(321	)	$	(1	)	$	(320	)
Unrealized investment gains	19			8			11			—			—			—
Pension/post-retirement plans:
Amortization of losses included in net periodic pension cost:
Prior service cost (a)	—			—			—			1			—			1
Net actuarial losses (a)	82			19			63			84			24			60
Subtotal	82			19			63			85			24			61
Effect of remeasurement	9			3			6			(1		)	—			(1		)
Effect of curtailment	(1		)	—			(1		)	3			1			2
Effect of settlement	1			—			1			1			—			1
Foreign currency translation (losses) gains	(62		)	(11		)	(51		)	213			37			176
Other	(1		)	—			(1		)	—			—			—
Pension/post-retirement plans gains	28			11			17			301			62			239
Other comprehensive income (loss)	$	572		$	20		$	552		$	(20	)	$	61		$	(81	)
(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.