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Other Comprehensive Income (Loss) (Tables)
 12 Months Ended
Dec. 31, 2017
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, 2017 and 2016, including amounts reclassified out of AOCI, are as follows:
(In millions of dollars)
Unrealized Investment Gains (Losses)
 
Pension/Post-Retirement Plans Gains (Losses)
 
Foreign Currency Translation Adjustments
 
Total
Balance as of January 1, 2017
$
19

 
$
(3,232
)
 
$
(1,880
)
 
$
(5,093
)
Other comprehensive (loss) income before reclassifications
(5
)
 
160

 
715

 
870

Amounts reclassified from accumulated other comprehensive loss
—

 
180

 
—

 
180

Net current period other comprehensive (loss)
income
(5
)
 
340

 
715

 
1,050

Balance as of December 31, 2017
$
14

 
$
(2,892
)
 
$
(1,165
)
 
$
(4,043
)

(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
)
The components of accumulated other comprehensive income (loss) are as follows:
(In millions of dollars)
December 31, 2017

 
December 31, 2016

Foreign currency translation adjustments (net of deferred tax adjustments of $(11) in 2017 and deferred tax adjustments of $(9) in 2016, respectively)
$
(1,165
)
 
$
(1,880
)
Net unrealized investment gains (net of deferred tax liability of $7 in 2017 and $10 in 2016)
14

 
19

Net charges related to pension/post-retirement plans (net of deferred tax asset of $1,462 and $1,530 in 2017 and 2016, respectively)
(2,892
)
 
(3,232
)
 
$
(4,043
)
 
$
(5,093
)
Schedule of other comprehensive income (loss)
The components of other comprehensive income (loss) are as follows:
For the Years Ended December 31,
2017
(In millions of dollars)
Pre-Tax
Tax (Credit)
Net of Tax
Foreign currency translation adjustments
$
717

$
2

$
715

Unrealized investment losses
(7
)
(2
)
(5
)
Pension/post-retirement plans:
 
 
 
    Amortization of losses included in net periodic pension cost:
 
 
 
 Prior service credits (a)
(1
)
—

(1
)
Net actuarial losses (a)
167

30

137

 Effect of curtailment (a)
(1
)
—

(1
)
 Effect of settlement (a)
54

9

45

Subtotal
219

39

180

Net gains arising during period
374

62

312

Foreign currency translation adjustments
(201
)
(36
)
(165
)
Other adjustments
16

3

13

Pension/post-retirement plans gains
408

68

340

Other comprehensive income
$
1,118

$
68

$
1,050

(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 Years 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 Years 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 (gains) losses 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.