Other Comprehensive Income (Loss) (Tables)

12 Months Ended

Dec. 31, 2018

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, 2018 and 2017, 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, 2018	$	14		$	(2,892	)	$	(1,165	)	$	(4,043	)
Cumulative effect of amended accounting standard	(14		)	—			—			(14		)
Other comprehensive (loss) before reclassifications	—			(205		)	(529		)	(734		)
Amounts reclassified from accumulated other comprehensive loss	—			144			—			144
Net current period other comprehensive (loss)	—			(61		)	(529		)	(590		)
Balance as of December 31, 2018	$	—		$	(2,953	)	$	(1,694	)	$	(4,647	)

(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	)

The components of accumulated other comprehensive income (loss) are as follows:

(In millions of dollars)	December 31, 2018			December 31, 2017
Foreign currency translation adjustments (net of deferred tax asset of $15 in 2018 and deferred tax liability of $11 in 2017)	$	(1,694	)	$	(1,165	)
Net unrealized investment gains (net of deferred tax liability of $7 in 2017)	—			14
Net charges related to pension/post-retirement plans (net of deferred tax asset of $1,493 and $1,462 in 2018 and 2017, respectively)	(2,953		)	(2,892		)
	$	(4,647	)	$	(4,043	)

Schedule of other comprehensive income (loss)

The components of other comprehensive income (loss) are as follows:

For the Years Ended December 31,	2018
(In millions of dollars)	Pre-Tax			Tax (Credit)			Net of Tax
Foreign currency translation adjustments	$	(529	)	$	—		$	(529	)
Pension/post-retirement plans:
Amortization of (gains) losses included in net periodic pension cost:
Prior service credits (a)	(4		)	(1		)	(3		)
Net actuarial losses (a)	145			32			113
Effect of settlement (a)	42			8			34
Subtotal	183			39			144
Net losses arising during period	(374		)	(88		)	(286		)
Foreign currency translation adjustments	141			25			116
Other adjustments	(41		)	(6		)	(35		)
Pension/post-retirement plans losses	(91		)	(30		)	(61		)
Other comprehensive loss	$	(620	)	$	(30	)	$	(590	)
(a) These components of net periodic pension cost are included in other net benefits credits 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,	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 (gains) 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) These components of net periodic pension cost are included in other net benefits credits 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	49			9			40
Pension/post-retirement plans losses	(119		)	(11		)	(108		)
Other comprehensive (loss) income	$	(840	)	$	33		$	(873	)
(a) These components of net periodic pension cost are included in other net benefits credits in the consolidated statements of income. Tax on prior service costs and net actuarial losses is included in income tax expense.