OTHER COMPREHENSIVE INCOME/(LOSS)
The components of accumulated other comprehensive income/(loss) were as follows: | | | | | | | | | | | | | | | | | 2018 | $ in millions | Foreign currency translation | | Employee benefit plans | | Equity method investments | | Available-for-sale investments | | Total | Other comprehensive income/(loss), net of tax: | | | | | | | | | | Currency translation differences on investments in foreign subsidiaries | (327.1 | ) | | — |
| | — |
| | — |
| | (327.1 | ) | Actuarial gain/(loss) related to employee benefit plans | — |
| | (13.0 | ) | | — |
| | — |
| | (13.0 | ) | Other comprehensive income/(loss), net | — |
| | 5.0 |
| | (4.3 | ) | | (1.2 | ) | | (0.5 | ) | Other comprehensive income/(loss), net of tax | (327.1 | ) | | (8.0 | ) | | (4.3 | ) | | (1.2 | ) | | (340.6 | ) |
| | | | | | | | | | Beginning balance | (290.5 | ) | | (109.7 | ) | | 4.3 |
| | 4.7 |
| | (391.2 | ) | Adjustment for adoption of ASU 2016-01 | — |
| | — |
| | — |
| | (3.2 | ) | | (3.2 | ) | January 1, 2018, as adjusted | (290.5 | ) | | (109.7 | ) | | 4.3 |
| | 1.5 |
| | (394.4 | ) | Other comprehensive income/(loss), net of tax | (327.1 | ) | | (8.0 | ) | | (4.3 | ) | | (1.2 | ) | | (340.6 | ) | Ending balance | (617.6 | ) | | (117.7 | ) | | — |
| | 0.3 |
| | (735.0 | ) |
| | | | | | | | | | | | | | | | | 2017 | $ in millions | Foreign currency translation | | Employee benefit plans | | Equity method investments | | Available-for-sale investments | | Total | Other comprehensive income/(loss) net of tax: | | | | | | | | | | Currency translation differences on investments in foreign subsidiaries | 389.4 |
| | — |
| | — |
| | — |
| | 389.4 |
| Actuarial gain/(loss) related to employee benefit plans | — |
| | 21.1 |
| | — |
| | — |
| | 21.1 |
| Other comprehensive income/(loss), net | — |
| | 8.4 |
| | (0.5 | ) | | (0.3 | ) | | 7.6 |
| Other comprehensive income/(loss), net of tax | 389.4 |
| | 29.5 |
| | (0.5 | ) | | (0.3 | ) | | 418.1 |
|
| | | | | | | | | | Beginning balance | (679.9 | ) | | (139.2 | ) | | 4.8 |
| | 5.0 |
| | (809.3 | ) | Other comprehensive income/(loss) | 389.4 |
| | 29.5 |
| | (0.5 | ) | | (0.3 | ) | | 418.1 |
| Ending balance | (290.5 | ) | | (109.7 | ) | | 4.3 |
| | 4.7 |
| | (391.2 | ) |
| | | | | | | | | | | | | | | | | 2016 | $ in millions | Foreign currency translation | | Employee benefit plans | | Equity method investments | | Available-for-sale investments | | Total | Other comprehensive income/(loss) net of tax: | | | | | | | | | | Currency translation differences on investments in foreign subsidiaries | (314.1 | ) | | — |
| | — |
| | — |
| | (314.1 | ) | Actuarial gain/(loss) related to employee benefit plans | — |
| | (39.5 | ) | | — |
| | — |
| | (39.5 | ) | Other comprehensive income/(loss), net | — |
| | (14.1 | ) | | (1.1 | ) | | 5.5 |
| | (9.7 | ) | Other comprehensive income/(loss), net of tax | (314.1 | ) | | (53.6 | ) | | (1.1 | ) | | 5.5 |
| | (363.3 | ) | | | | | | | | | | | Beginning balance | (365.8 | ) | | (85.6 | ) | | 5.9 |
| | (0.5 | ) | | (446.0 | ) | Other comprehensive income/(loss) | (314.1 | ) | | (53.6 | ) | | (1.1 | ) | | 5.5 |
| | (363.3 | ) | Ending balance | (679.9 | ) | | (139.2 | ) | | 4.8 |
| | 5.0 |
| | (809.3 | ) |
Net Investment Hedge
The Company designated certain intercompany debt as a non-derivative net investment hedging instrument against foreign currency exposure related to its net investment in foreign operations. At December 31, 2018 and December 31, 2017, £130 million ($165.6 million and $175.9 million, respectively) of intercompany debt was designated as a net investment hedge. For the year ended December 31, 2018, the Company recognized foreign currency gains of $10.3 million (2017: losses of $15.3 million, 2016: gains of $26.6 million) resulting from the net investment hedge within currency translation differences on investments in foreign subsidiaries in other comprehensive income. No hedge ineffectiveness was recognized in income. |