Other Comprehensive Income and Accumulated Other Comprehensive Income

6 Months Ended

Jun. 30, 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 six months ended June 30, 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	(1,381		)	2		1			(137		)	(1,515		)
Amounts reclassified from AOCI	(33		)	1		34			(3		)	(1		)
Net OCI, current period	(1,414		)	3		35			(140		)	(1,516		)
Balance, June 30, 2013	$	1,494		$	198	$	(822	)	$	(150	)	$	720

The following table presents the pretax and related income tax expense (benefit) components of the amounts reclassified from the Company’s AOCI to the Company’s consolidated statement of income for the three months and six months ended June 30, 2013.

(in millions)	Three Months Ended June 30, 2013			Six MonthsEnded June 30, 2013
Reclassification adjustments related to unrealized gains on investment securities:
Having no credit losses recognized in the consolidated statement of income (1)	$	(34	)	$	(51	)
Income tax expense (2)	(12		)	(18		)
Net of taxes	(22		)	(33		)
Having credit losses recognized in the consolidated statement of income (1)	1			2
Income tax benefit (2)	1			1
Net of taxes	—			1
Reclassification adjustment related to benefit plan assets and obligations (3)	25			52
Income tax benefit (2)	8			18
Net of taxes	17			34
Reclassification adjustment related to foreign currency translation (1)	—			(3		)
Income tax benefit (2)	—			—
Net of taxes	—			(3		)
Total reclassifications	(8		)	—
Total income tax (expense) benefit	(3		)	1
Total reclassifications, net of taxes	$	(5	)	$	(1	)

(1) (Increases) decreases net realized investment gains 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 tables present the pretax components of other comprehensive income (loss) and related income tax expense (benefit) for the three months and six months ended June 30, 2013 and 2012.

(for the three months ended June 30, in millions)	2013			2012
Changes in net unrealized gains on investment securities:
Having no credit losses recognized in the consolidated statement of income	$	(1,790	)	$	216
Income tax expense (benefit)	(621		)	77
Net of taxes	(1,169		)	139
Having credit losses recognized in the consolidated statement of income	(5		)	5
Income tax expense (benefit)	(2		)	1
Net of taxes	(3		)	4
Net changes in benefit plan assets and obligations	26			22
Income tax expense	9			8
Net of taxes	17			14
Net changes in unrealized foreign currency translation	(73		)	(86		)
Income tax benefit	(22		)	(20		)
Net of taxes	(51		)	(66		)
Total other comprehensive income (loss)	(1,842		)	157
Total income tax expense (benefit)	(636		)	66
Total other comprehensive income (loss), net of taxes	$	(1,206	)	$	91

(for the six months ended June 30, in millions)	2013			2012
Changes in net unrealized gains on investment securities:
Having no credit losses recognized in the consolidated statement of income	$	(2,166	)	$	139
Income tax expense (benefit)	(752		)	50
Net of taxes	(1,414		)	89
Having credit losses recognized in the consolidated statement of income	4			30
Income tax expense	1			10
Net of taxes	3			20
Net changes in benefit plan assets and obligations	54			42
Income tax expense	19			15
Net of taxes	35			27
Net changes in unrealized foreign currency translation	(169		)	(22		)
Income tax benefit	(29		)	(11		)
Net of taxes	(140		)	(11		)
Total other comprehensive income (loss)	(2,277		)	189
Total income tax expense (benefit)	(761		)	64
Total other comprehensive income (loss), net of taxes	$	(1,516	)	$	125