Other Comprehensive Income and Accumulated Other Comprehensive Income

3 Months Ended

Mar. 31, 2015

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 ACCCUMULATED 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, 2015.

(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, 2014	$	1,768		$	198		$	(755	)	$	(331	)	$	880
Other comprehensive income (loss) (OCI) before reclassifications	125			(3		)	1			(237		)	(114		)
Amounts reclassified from AOCI	(12		)	—			15			—			3
Net OCI, current period	113			(3		)	16			(237		)	(111		)
Balance, March 31, 2015	$	1,881		$	195		$	(739	)	$	(568	)	$	769

The following table presents the pretax components of the Company’s other comprehensive income (loss) and the related income tax expense (benefit) for the three months ended March 31, 2015 and 2014.

(for the three months ended March 31, in millions)	2015			2014
Changes in net unrealized gains on investment securities:
Having no credit losses recognized in the consolidated statement of income	$	169		$	537
Income tax expense	56			186
Net of taxes	113			351
Having credit losses recognized in the consolidated statement of income	(5		)	2
Income tax expense (benefit)	(2		)	1
Net of taxes	(3		)	1
Net changes in benefit plan assets and obligations	24			15
Income tax expense	8			7
Net of taxes	16			8
Net changes in unrealized foreign currency translation	(274		)	(43		)
Income tax benefit	(37		)	—
Net of taxes	(237		)	(43		)
Total other comprehensive income (loss)	(86		)	511
Total income tax expense	25			194
Total other comprehensive income (loss), net of taxes	$	(111	)	$	317

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 ended March 31, 2015 and 2014.

(for the three months ended March 31, in millions)	2015			2014
Reclassification adjustments related to unrealized gains on investment securities:
Having no credit losses recognized in the consolidated statement of income (1)	$	(18	)	$	(5	)
Income tax expense (2)	(6		)	(2		)
Net of taxes	(12		)	(3		)
Having credit losses recognized in the consolidated statement of income (1)	—			3
Income tax benefit (2)	—			1
Net of taxes	—			2
Reclassification adjustment related to benefit plan assets and obligations (3)	23			15
Income tax benefit (2)	8			7
Net of taxes	15			8
Reclassification adjustment related to foreign currency translation (1)	—			—
Income tax benefit (2)	—			—
Net of taxes	—			—
Total reclassifications	5			13
Total income tax benefit	2			6
Total reclassifications, net of taxes	$	3		$	7

(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.