6. Shareholders’ Equity

Accumulated other comprehensive income (loss)

The tables below present the changes in AOCI by component for the three and six months ended June 30, 2017 and 2018:


	OTTI Gains (Losses)			Unrealized Gains (Losses) on Investments				Cash Flow Hedges			Pension Liability			Foreign Currency Translation			Total Accumulated Other Comprehensive Income (Loss)
(In millions)

Balance, April 1, 2017		$	23		$	636			$	(2)		$	(638)		$	(168)		$	(149)
Other comprehensive income (loss) before reclassifications, after tax of $1, $(63), $0, $0 and $0			(1)			108										42			149
Reclassification of (gains) losses from accumulated other comprehensive income, after tax of $(1), $15, $0, $(3) and $0			1			(31	)						7						(23)
Other comprehensive income			-			77				-			7			42			126
Amounts attributable to noncontrolling interests						(8	)						(1)			(4)			(13)
Balance, June 30, 2017		$	23		$	705			$	(2)		$	(632)		$	(130)		$	(36)


Balance, April 1, 2018		$	18		$	386			$	10		$	(753)		$	(78)		$	(417)
Other comprehensive income (loss) before reclassifications, after tax of $1, $45, $0, $0 and $0			(1)			(156	)			4						(52)			(205)
Reclassification of (gains) losses from accumulated other comprehensive income, after tax of $0, $1, $0, $(2) and $0						(3	)						9						6
Other comprehensive income (loss)			(1)			(159	)			4			9			(52)			(199)
Amounts attributable to noncontrolling interests						17							(2)			5			20
Purchase of Boardwalk Pipeline common units										(1)			(28)						(29)
Balance, June 30, 2018		$	17		$	244			$	13		$	(774)		$	(125)		$	(625)


	OTTI Gains (Losses)				Unrealized Gains (Losses) on Investments				Cash Flow Hedges				Pension Liability				Foreign Currency Translation				Total Accumulated Other Comprehensive Income (Loss)
(In millions)

Balance, January 1, 2017		$	27			$	576			$	(2	)		$	(646	)		$	(178	)		$	(223	)
Other comprehensive income (loss) before reclassifications, after tax of $0, $(110), $0, $0 and $0			(1	)			193				(1	)							53				244
Reclassification of (gains) losses from accumulated other comprehensive income, after tax of $1, $24, $0, $(7) and $0			(3	)			(49	)			1				15								(36	)
Other comprehensive income (loss)			(4	)			144				-				15				53				208
Amounts attributable to noncontrolling interests							(15	)							(1	)			(5	)			(21	)
Balance, June 30, 2017		$	23			$	705			$	(2	)		$	(632	)		$	(130	)		$	(36	)


Balance, January 1, 2018, as reported		$	22			$	673			$	-			$	(633	)		$	(88	)		$	(26	)
Cumulative effect adjustment for adoption of ASU 2016-01 (a), after tax of $0, $8, $0, $0 and $0							(25	)															(25	)
Cumulative effect adjustment for adoption of ASU 2018-02 (a)			4				123								(130	)							(3	)
Balance, January 1, 2018, as adjusted			26				771				-				(763	)			(88	)			(54	)
Other comprehensive income (loss) before reclassifications, after tax of $3, $150, $(2), $0 and $0			(11	)			(570	)			12								(41	)			(610	)
Reclassification of (gains) losses from accumulated other comprehensive income, after tax of $0, $5, $0, $(5) and $0			1				(18	)			2				19								4
Other comprehensive income (loss)			(10	)			(588	)			14				19				(41	)			(606	)
Amounts attributable to noncontrolling interests			1				61								(2	)			4				64
Purchase of Boardwalk Pipeline common units											(1	)			(28	)							(29	)
Balance, June 30, 2018		$	17			$	244			$	13			$	(774	)		$	(125	)		$	(625	)

(a)	For information regarding this accounting standard see Note 1.

Amounts reclassified from AOCI shown above are reported in Net income as follows:


Major Category of AOCI		Affected Line Item

OTTI gains (losses)		Investment gains (losses)
Unrealized gains (losses) on investments		Investment gains (losses)
Cash flow hedges		Operating revenues and other and Operating expenses and other
Pension liability		Operating expenses and other

Treasury Stock

The Company repurchased 15.6 million and 0.1 million shares of Loews common stock at aggregate costs of $788 million and $6 million during the six months ended June 30, 2018 and 2017.