XML 70 R17.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Changes in Accumulated Other Comprehensive Income
 12 Months Ended
Dec. 31, 2019
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]  
Changes In Accumulated Other Comprehensive Income Changes in Accumulated Other Comprehensive Income
AOCI is a balance sheet item in the Shareholder’s Equity section on 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:

(Millions), net of tax
Foreign
Currency
Translation
Adjustment
(losses) gains
Balances as of December 31, 2016$(1,263) 
Net translation gain of investments in foreign operations(a)
439  
Net losses related to hedges of investments in foreign operations(174) 
Net change in accumulated other comprehensive loss265  
Balances as of December 31, 2017(998) 
Net translation loss of investments in foreign operations(189) 
Net gains related to hedges of investments in foreign operations127  
Net change in accumulated other comprehensive loss(62) 
Balances as of December 31, 2018(1,060) 
Net translation gain of investments in foreign operations17  
Net losses related to hedges of investments in foreign operations(44) 
Net change in accumulated other comprehensive loss(27) 
Balances as of December 31, 2019$(1,087) 
(a)Includes $289 million of tax benefit recognized in the year ended December 31, 2017 (refer to Note 10).
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 expense (benefit)
(Millions)201920182017
Net translation on investments in foreign operations(a)
$5  $(23) $(209) 
Net hedges of investments in foreign operations(14) 40  (103) 
Total tax impact$(9) $17  $(312) 
(a)Includes $289 million of tax benefit recognized in the year ended December 31, 2017 (refer to Note 10).
No amounts were reclassified out of AOCI into the Consolidated Statements of Income for the years ended December 31, 2019, 2018 and 2017.