Changes in Accumulated Other Comprehensive Income

12 Months Ended

Dec. 31, 2016

Changes In Accumulated Other Comprehensive Income Disclosure [Abstract]

Changes In Accumulated Other Comprehensive Income (Loss)

Note 10–Changes in Accumulated Other Comprehensive Income

AOCI is a balance sheet item in the Shareholder’s Equity section of Credco’s Consolidated Balance Sheets. It is comprised of items that have not been recognized in earnings but may be recognized in earnings in the future when certain events occur. Changes in Foreign Currency Translation Adjustments for the three years ended December 31 were as follows:

		Foreign
		Currency
		Translation
(Millions), net of tax(a)		Adjustments
Balances as of December 31, 2013	$	(478)
Net translation loss of investments in foreign operations		(471)
Net gains related to hedges of investment in foreign operations		162
Net change in accumulated other comprehensive loss		(309)
Balances as of December 31, 2014		(787)
Net translation loss of investments in foreign operations		(604)
Net gains related to hedges of investment in foreign operations		235
Net change in accumulated other comprehensive loss		(369)
Balances as of December 31, 2015		(1,156)
Net translation loss of investments in foreign operations		(187)
Net gains related to hedges of investment in foreign operations		80
Net change in accumulated other comprehensive loss		(107)
Balances as of December 31, 2016	$	(1,263)

The following table shows the tax impact for the three years ended December 31 for the changes in each component of AOCI:

	Tax expense
(Millions)		2016		2015		2014
Foreign currency translation adjustments	$	49	$	―	$	30
Net investment hedges		48		140		96
Total tax impact	$	97	$	140	$	126

No amounts were reclassified out of AOCI into the Consolidated Statements of Income for the year ended December 31, 2016.