ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) AOCI represents cumulative gains (losses) on items that are not reflected in Net income (loss). The balances as of June 30, 2018 and 2017 follow: | | | | | | | | | | June 30, | | 2018 | | 2017 | | (in millions) | Unrealized gains (losses) on investments | $ | (435 | ) | | $ | 440 |
| Foreign currency translation adjustments | (48 | ) | | (63 | ) | Defined benefit pension plans | (56 | ) | | (45 | ) | Total accumulated other comprehensive income (loss) | (539 | ) | | 332 |
| Less: Accumulated other comprehensive (income) loss attributable to noncontrolling interest | 75 |
| | 99 |
| Accumulated other comprehensive income (loss) attributable to AXA Equitable | $ | (464 | ) | | $ | 431 |
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The components of OCI, net of taxes for the three and six months ended June 30, 2018 and 2017 follow: | | | | | | | | | | | | | | | | | | Three Months Ended June 30, 2018 | | Six Months Ended June 30, 2017 | | 2018 | | 2017 | | 2018 | | 2017 | | (in millions) | Foreign currency translation adjustments: | | | | | | | | Foreign currency translation gains (losses) arising during the period | $ | (8 | ) | | $ | (21 | ) | | $ | (12 | ) | | $ | 14 |
| (Gains) losses reclassified into net income (loss) during the period | — |
| | — |
| | — |
| | — |
| Foreign currency translation adjustment | (8 | ) | | (21 | ) | | (12 | ) | | 14 |
| Net unrealized gains (losses) on investments: | | | | | | | | Net unrealized gains (losses) arising during the period | (347 | ) | | 312 |
| | (1,332 | ) | | 452 |
| (Gains) losses reclassified into net income (loss) during the period(1) | 3 |
| | 21 |
| | (67 | ) | | (2 | ) | Net unrealized gains (losses) on investments | (344 | ) | | 333 |
| | (1,399 | ) | | 450 |
| Adjustments for policyholders’ liabilities, DAC, insurance liability loss recognition and other | 33 |
| | (39 | ) | | 347 |
| | (64 | ) | Change in unrealized gains (losses), net of adjustments (net of deferred income tax expense (benefit) of $(83), $158, $(280) and $208) | (311 | ) | | 294 |
| | (1,052 | ) | | 386 |
| Change in defined benefit plans: | | | | | | | | Less: reclassification adjustments to net income (loss) for: | | | | | | | | Net gain (loss) arising during the period | (1 | ) | | 1 |
| | (5 | ) | | 1 |
| Amortization of net actuarial (gains) losses included in: | | | | | | | | Amortization of net prior service cost included in net periodic cost | — |
| | — |
| | — |
| | — |
| Change in defined benefit plans (net of deferred income tax expense (benefit) of $0, $1, $(1) and $1) | (1 | ) | | 1 |
| | (5 | ) | | 1 |
| Total other comprehensive income (loss), net of income taxes | (320 | ) | | 274 |
| | (1,069 | ) | | 401 |
| Less: Other comprehensive (income) loss attributable to noncontrolling interest | 14 |
| | 20 |
| | 7 |
| | 13 |
| Other comprehensive income (loss) attributable to AXA Equitable | $ | (306 | ) | | $ | 294 |
| | $ | (1,062 | ) | | $ | 414 |
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| | (1) | See “Reclassification adjustments” in Note 3. Reclassification amounts presented net of income tax expense (benefit) of $1 million, $11 million, $(18) million and $(1) million, for the three and six months ended June 30, 2018 and 2017, respectively. |
Investment gains and losses reclassified from AOCI to net income (loss) primarily consist of realized gains (losses) on sales and OTTI of AFS securities and are included in Total investment gains (losses), net on the consolidated statements of income (loss). Amounts reclassified from AOCI to net income (loss) as related to defined benefit plans primarily consist of amortizations of net (gains) losses and net prior service cost (credit) recognized as a component of net periodic cost and reported in Compensation and benefit expenses in the consolidated statements of income (loss). Amounts presented in the table above are net of tax.
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