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ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
 6 Months Ended
Jun. 30, 2016
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Accumulated Other Comprehensive Income (Loss)
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

AOCI represents cumulative gains (losses) on items that are not reflected in earnings (loss). The balances as of June 30, 2016 and 2015 follow:

 
June 30,
 
2016
 
2015
 
(In Millions)
Unrealized gains (losses) on investments
$
1,647

 
$
442

Foreign currency translation adjustments
(55
)
 
(42
)
Defined benefit pension plans
(12
)
 
(741
)
Total accumulated other comprehensive income (loss)
1,580

 
(341
)
Less: Accumulated other comprehensive (income) loss attributable to noncontrolling interest
57

 
47

Accumulated Other Comprehensive Income (Loss) Attributable to AXA Equitable
$
1,637

 
$
(294
)


The components of OCI, net-of-taxes for the second quarter and first six months of 2016 and 2015 follow:

 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2016
 
2015
 
2016
 
2015
 
(In Millions)
Foreign currency translation adjustments:
 
 
 
 
 
 
 
Foreign currency translation gains (losses) arising during the period
$
(5
)
 
$
5

 
$
4

 
$
(7
)
(Gains) losses reclassified into net earnings (loss) during the period
—

 
(1
)
 
—

 
(1
)
Foreign currency translation adjustment
(5
)
 
4

 
4

 
(8
)
Net unrealized gains (losses) on investments:
 
 
 
 
 
 
 
Net unrealized gains (losses) arising during the period
764

 
(1,138
)
 
1,578

 
(752
)
(Gains) losses reclassified into net earnings (loss) during the period(1)
(29
)
 
11

 
(15
)
 
10

Net unrealized gains (losses) on investments
735

 
(1,127
)
 
1,563

 
(742
)
Adjustments for policyholders’ liabilities, DAC, insurance liability loss recognition and other
(110
)
 
107

 
(158
)
 
61

Change in unrealized gains (losses), net of adjustments (net of deferred income tax expense (benefit) of $337, $(548), and $764 and $(368).
625

 
(1,020
)
 
1,405

 
(681
)
Change in defined benefit plans:
 
 
 
 
 
 
 
Less: reclassification adjustments to net earnings (loss) for (2):
 
 
 
 
 
 
 
Net gain (loss) arising during the period
—

 
 
 
—

 
—

Amortization of net prior service cost included in net periodic cost
—

 
20

 
—

 
39

Change in defined benefit plans (net of deferred income tax expense (benefit) of $0, $10, $0, and $21.
—

 
20

 
—

 
39

Total other comprehensive income (loss), net of income taxes
620

 
(996
)
 
1,409

 
(650
)
Less: Other comprehensive (income) loss attributable to noncontrolling interest
3

 
(4
)
 
—

 
5

Other Comprehensive Income (Loss) Attributable to AXA Equitable
$
623

 
$
(1,000
)
 
$
1,409

 
$
(645
)

(1)
See “Reclassification adjustments” in Note 3. Reclassification amounts presented net of income tax expense (benefit) of $16 million, $8 million, $(6) million and $(13) million, for the second quarter and first six months of 2016 and 2015, respectively.

(2)
Reclassification amounts presented net of income tax expense (benefit) of $0 million, $0 million, $10 million and $21 million for second quarter and first six months of 2016 and 2015, respectively.
Investment gains and losses reclassified from AOCI to net earnings (loss) primarily consist of realized gains (losses) on sales and OTTI of AFS securities and are included in Total investment gains (losses), net on the consolidated statements of earnings (loss). Amounts reclassified from AOCI to net earnings (loss) as related to defined benefit plans primarily consist of amortizations of net (gains) losses and net prior service cost (credit) recognized as a component of net periodic cost and reported in Compensation and benefit expenses in the consolidated statements of earnings (loss). Amounts presented in the table above are net of tax.