Other Comprehensive Income and Accumulated Other Comprehensive Income

9 Months Ended

Sep. 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 nine months ended September 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	(1,510		)	1		(1		)	(45		)	(1,555		)
Amounts reclassified from AOCI	(36		)	1		51			8			24
Net OCI, current period	(1,546		)	2		50			(37		)	(1,531		)
Balance, September 30, 2013	$	1,362		$	197	$	(807	)	$	(47	)	$	705

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 nine months ended September 30, 2013.

(in millions)	Three Months Ended September 30, 2013			Nine MonthsEnded September 30, 2013
Reclassification adjustments related to unrealized gains on investment securities:
Having no credit losses recognized in the consolidated statement of income (1)	$	(4	)	$	(55	)
Income tax expense (2)	(1		)	(19		)
Net of taxes	(3		)	(36		)
Having credit losses recognized in the consolidated statement of income (1)	—			2
Income tax benefit (2)	—			1
Net of taxes	—			1
Reclassification adjustment related to benefit plan assets and obligations (3)	26			78
Income tax benefit (2)	9			27
Net of taxes	17			51
Reclassification adjustment related to foreign currency translation (1)	11			8
Income tax benefit (2)	—			—
Net of taxes	11			8
Total reclassifications	33			33
Total income tax benefit	8			9
Total reclassifications, net of taxes	$	25		$	24

(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 tables present the pretax components of other comprehensive income (loss) and related income tax expense (benefit) for the three months and nine months ended September 30, 2013 and 2012.

(for the three months ended September 30, in millions)	2013			2012
Changes in net unrealized gains on investment securities:
Having no credit losses recognized in the consolidated statement of income	$	(204	)	$	470
Income tax expense (benefit)	(72		)	162
Net of taxes	(132		)	308
Having credit losses recognized in the consolidated statement of income	(2		)	41
Income tax expense (benefit)	(1		)	15
Net of taxes	(1		)	26
Net changes in benefit plan assets and obligations	24			22
Income tax expense	9			7
Net of taxes	15			15
Net changes in unrealized foreign currency translation	112			65
Income tax expense	9			8
Net of taxes	103			57
Total other comprehensive income (loss)	(70		)	598
Total income tax expense (benefit)	(55		)	192
Total other comprehensive income (loss), net of taxes	$	(15	)	$	406

(for the nine months ended September 30, in millions)	2013			2012
Changes in net unrealized gains on investment securities:
Having no credit losses recognized in the consolidated statement of income	$	(2,370	)	$	609
Income tax expense (benefit)	(824		)	212
Net of taxes	(1,546		)	397
Having credit losses recognized in the consolidated statement of income	2			71
Income tax expense	—			25
Net of taxes	2			46
Net changes in benefit plan assets and obligations	78			64
Income tax expense	28			22
Net of taxes	50			42
Net changes in unrealized foreign currency translation	(57		)	43
Income tax benefit	(20		)	(3		)
Net of taxes	(37		)	46
Total other comprehensive income (loss)	(2,347		)	787
Total income tax expense (benefit)	(816		)	256
Total other comprehensive income (loss), net of taxes	$	(1,531	)	$	531