Other Comprehensive Income and Accumulated Other Comprehensive Income

3 Months Ended

Mar. 31, 2013

Other Comprehensive Income and Accumulated Other Comprehensive Income disclosure

Other Comprehensive Income and Accumulated Other Comprehensive Income disclosure [Text Block]

6. OTHER COMPREHENSIVE INCOME AND ACCUMULATED OTHER COMPREHENSIVE INCOME

The following table presents the changes in the Company’s accumulated other comprehensive income (AOCI) for the three months ended March 31, 2013.

(in millions)	Changes in Net Unrealized Gains on Investment Securities Having No Credit Losses Recognized in the Consolidated Statement of Income			Changes in Net Unrealized Gains on Investment Securities Having Credit Losses Recognized in the Consolidated Statement of Income		Net Benefit Plan Assets and Obligations Recognized in Shareholders’ Equity			Net Unrealized Foreign Currency Translation			Total Accumulated Other Comprehensive Income
Balance, December 31, 2012	$	2,908		$	195	$	(857	)	$	(10	)	$	2,236
Other comprehensive income (loss) (OCI) before reclassifications	(234		)	5		1			(86		)	(314		)
Amounts reclassified from AOCI	(11		)	1		17			(3		)	4
Net OCI, current period	(245		)	6		18			(89		)	(310		)
Balance, March 31, 2013	$	2,663		$	201	$	(839	)	$	(99	)	$	1,926

The following table presents the pretax and related income tax expense (benefit) components of the amounts reclassified from the Company’s accumulated other comprehensive income to the Company’s consolidated statement of income for the three months ended March 31, 2013.

(for the three months ended March 31, in millions)	2013
Reclassification adjustments related to unrealized gains on investment securities:
Having no credit losses recognized in the consolidated statement of income (1)	$	(17	)
Income tax expense (2)	(6		)
Net of taxes	(11		)
Having credit losses recognized in the consolidated statement of income (1)	1
Income tax benefit (2)	—
Net of taxes	1
Reclassification adjustment related to benefit plan assets and obligations (3)	27
Income tax benefit (2)	10
Net of taxes	17
Reclassification adjustment related to foreign currency translation (1)	(3		)
Income tax benefit (2)	—
Net of taxes	(3		)
Total reclassifications	8
Total income tax benefit	4
Total reclassifications, net of taxes	$	4

(1) (Increases) decreases net realized investment gains (losses) on the consolidated statement of income.

(2) (Increases) decreases income tax expense on the consolidated statement of income.

(3) Increases (decreases) general and administrative expenses on the consolidated statement of income.

The following table presents the pretax components of other comprehensive income (loss) and related income tax expense (benefit) for the three months ended March 31, 2013 and 2012.

(for the three months ended March 31, in millions)	2013			2012
Changes in net unrealized gains on investment securities:
Having no credit losses recognized in the consolidated statement of income	$	(376	)	$	(77	)
Income tax benefit	(131		)	(27		)
Net of taxes	(245		)	(50		)
Having credit losses recognized in the consolidated statement of income	9			25
Income tax expense	3			9
Net of taxes	6			16
Net changes in benefit plan assets and obligations	28			20
Income tax expense	10			7
Net of taxes	18			13
Net changes in unrealized foreign currency translation	(96		)	64
Income tax expense (benefit)	(7		)	9
Net of taxes	(89		)	55
Total other comprehensive income (loss)	(435		)	32
Total income tax benefit	(125		)	(2		)
Total other comprehensive income (loss), net of taxes	$	(310	)	$	34