Changes in Accumulated Other Comprehensive Income

12 Months Ended

Dec. 31, 2017

Changes In Accumulated Other Comprehensive Income Disclosure [Abstract]

Changes In Accumulated Other Comprehensive 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		Adjustments
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)
Net translation gain of investments in foreign operations(a)		439
Net losses related to hedges of investment in foreign operations		(174)
Net change in accumulated other comprehensive loss		265
Balances as of December 31, 2017	$	(998)

• Includes $289 million of recognized tax benefit (refer to Note 11).

The following table shows the tax impact for the three years ended December 31 for the changes in Foreign Currency Translation Adjustments presented above:

	Tax (benefit) expense
(Millions)		2017		2016		2015
Foreign currency translation adjustments (a)	$	(209)	$	49	$	―
Net investment hedges		(103)		48		140
Total tax impact	$	(312)	$	97	$	140

Include $289 million of tax benefit recognized in the year ended December 31, 2017 (refer to Note 11).

No amounts were reclassified out of AOCI into the Consolidated Statements of Income for the years ended December 31, 2017 and 2016.