XML 156 R26.htm IDEA: XBRL DOCUMENT v2.4.0.8
CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
 9 Months Ended
Sep. 30, 2014
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]  
CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
Changes in each component of Citigroup’s Accumulated other comprehensive income (loss) for the three and nine months ended September 30, 2014 and 2013 are as follows:
Three months ended September 30, 2014:
In millions of dollars
Net
unrealized
gains (losses)
on investment securities
Cash flow hedges (1)
Benefit plans (2)
Foreign
currency
translation
adjustment,
net of hedges (CTA)(3)(4)
Accumulated
other
comprehensive income (loss)
Balance, June 30, 2014
$
(206
)
$
(1,007
)
$
(4,166
)
$
(12,768
)
$
(18,147
)
Other comprehensive income (losses) before reclassifications
$
(173
)
$
(42
)
$
17

$
(1,721
)
$
(1,919
)
Increase (decrease) due to amounts reclassified from AOCI
(34
)
70

54

—

90

Change, net of taxes
$
(207
)
$
28

$
71

$
(1,721
)
$
(1,829
)
Balance at September 30, 2014
$
(413
)
$
(979
)
$
(4,095
)
$
(14,489
)
$
(19,976
)
Nine months ended September 30, 2014:
In millions of dollars
 
 
 
 
 
Balance, December 31, 2013
$
(1,640
)
$
(1,245
)
$
(3,989
)
$
(12,259
)
$
(19,133
)
Other comprehensive income (losses) before reclassifications
$
1,242

$
62

$
(240
)
$
(2,230
)
$
(1,166
)
Increase (decrease) due to amounts reclassified from AOCI
(15
)
204

134

—

323

Change, net of taxes
$
1,227

$
266

$
(106
)
$
(2,230
)
$
(843
)
Balance at September 30, 2014
$
(413
)
$
(979
)
$
(4,095
)
$
(14,489
)
$
(19,976
)
Three months ended September 30, 2013:
In millions of dollars
 
 
 
 
 
Balance, June 30, 2013
$
(1,301
)
$
(1,671
)
$
(4,615
)
$
(12,337
)
$
(19,924
)
Other comprehensive income before reclassifications
$
7

$
177

$
261

$
506

$
951

Increase (decrease) due to amounts reclassified from AOCI
(15
)
153

37

—

175

Change, net of taxes
$
(8
)
$
330

$
298

$
506

$
1,126

Balance at September 30, 2013
$
(1,309
)
$
(1,341
)
$
(4,317
)
$
(11,831
)
$
(18,798
)

Nine months ended September 30, 2013:
In millions of dollars
 
 
 
 
 
Balance, December 31, 2012
$
597

$
(2,293
)
$
(5,270
)
$
(9,930
)
$
(16,896
)
Other comprehensive income (losses) before reclassifications
$
(1,582
)
$
509

$
836

$
(1,901
)
$
(2,138
)
Increase (decrease) due to amounts reclassified from AOCI
(324
)
443

117

—

236

Change, net of taxes
$
(1,906
)
$
952

$
953

$
(1,901
)
$
(1,902
)
Balance at September 30, 2013
$
(1,309
)
$
(1,341
)
$
(4,317
)
$
(11,831
)
$
(18,798
)
(1)
Primarily driven by Citigroup’s pay fixed/receive floating interest rate swap programs that hedge the floating rates on liabilities.
(2)
Primarily reflects adjustments based on the quarterly actuarial valuations of the Company’s significant pension and postretirement plans and amortization of amounts previously recognized in other comprehensive income.
(3)
Primarily reflects the movements in (by order of impact) the Mexican peso, Euro, British pound, and Australian dollar against the U.S. dollar, and changes in related tax effects and hedges for the quarter ended September 30, 2014. Primarily reflects the movements in (by order of impact) the Korean won, British pound, Euro, and Mexican peso against the U.S. dollar, and changes in related tax effects and hedges for the quarter ended June 30, 2014. Primarily reflects the movements in the Russian ruble, Argentine peso, Korean won, and Japanese yen against the U.S. dollar, and changes in related tax effects and hedges for the quarter ended March 31, 2014. Primarily reflects the movements in (by order of impact) the Korean won, Euro, British pound, Mexican peso and Polish zloty against the U.S. dollar, and changes in related tax effects and hedges for the quarter ended September 30, 2013. Primarily reflects the movements in (by order of impact) the Mexican peso, Australian dollar, Indian rupee, and Brazilian real against the U.S. dollar, and changes in related tax effects and hedges for the quarter ended June 30, 2013. primarily reflects the movements in (by order of impact) the Mexican peso, Japanese yen, British pound, and Korean won against the U.S. dollar, and changes in related tax effects and hedges for the quarter ended March 31, 2013.
(4)
Reclassified to reflect the allocation of foreign currency translation between net unrealized gains (losses) on investment securities to CTA.
The pretax and after-tax changes in each component of Accumulated other comprehensive income (loss) for the three and nine months ended September 30, 2014 and 2013 are as follows:
Three months ended September 30, 2014:
In millions of dollars
Pretax
Tax effect
After-tax
Balance, June 30, 2014
$
(25,645
)
$
7,498

$
(18,147
)
Change in net unrealized gains (losses) on investment securities
(321
)
114

(207
)
Cash flow hedges
45

(17
)
28

Benefit plans
107

(36
)
71

Foreign currency translation adjustment
(2,094
)
373

(1,721
)
Change
$
(2,263
)
$
434

$
(1,829
)
Balance, September 30, 2014
$
(27,908
)
$
7,932

$
(19,976
)
Nine months ended September 30, 2014:
In millions of dollars
Pretax
Tax effect
After-tax
Balance, December 31, 2013
$
(27,596
)
$
8,463

$
(19,133
)
Change in net unrealized gains (losses) on investment securities
1,967

(740
)
1,227

Cash flow hedges
431

(165
)
266

Benefit plans
(187
)
81

(106
)
Foreign currency translation adjustment
(2,523
)
293

(2,230
)
Change
$
(312
)
$
(531
)
$
(843
)
Balance, September 30, 2014
$
(27,908
)
$
7,932

$
(19,976
)
Three months ended September 30, 2013:
In millions of dollars
Pretax
Tax effect
After-tax
Balance, June 30, 2013
$
(28,846
)
$
8,922

$
(19,924
)
Change in net unrealized gains (losses) on investment securities
(20
)
12

(8
)
Cash flow hedges
514

(184
)
330

Benefit plans
326

(28
)
298

Foreign currency translation adjustment
338

168

506

Change
$
1,158

$
(32
)
$
1,126

Balance, September 30, 2013
$
(27,688
)
$
8,890

$
(18,798
)
Nine months ended September 30, 2013:
In millions of dollars
Pretax
Tax effect
After-tax
Balance, December 31, 2012
$
(25,334
)
$
8,438

$
(16,896
)
Change in net unrealized gains (losses) on investment securities
(3,013
)
1,107

(1,906
)
Cash flow hedges
1,519

(567
)
952

Benefit plans
1,323

(370
)
953

Foreign currency translation adjustment
(2,183
)
282

(1,901
)
Change
$
(2,354
)
$
452

$
(1,902
)
Balance, September 30, 2013
$
(27,688
)
$
8,890

$
(18,798
)

During the three and nine months ended September 30, 2014, respectively, the Company recognized a pretax loss of $154 million ($90 million net of tax) and a pretax loss of $527 million ($323 million net of tax) related to amounts reclassified out of Accumulated other comprehensive income (loss) into the Consolidated Statement of Income. See details in the table below:
 
Increase (decrease) in AOCI due to amounts reclassified to Consolidated Statement of Income
In millions of dollars
Three Months Ended 
 September 30, 2014
Nine Months Ended 
 September 30, 2014
Realized (gains) losses on sales of investments
$
(136
)
$
(348
)
OTTI gross impairment losses
91

329

Subtotal, pretax
$
(45
)
$
(19
)
Tax effect
11

4

Net realized (gains) losses on investment securities, after-tax(1)
$
(34
)
$
(15
)
Interest rate contracts
$
84

$
218

Foreign exchange contracts
30

114

Subtotal, pretax
$
114

$
332

Tax effect
(44
)
(128
)
Amortization of cash flow hedges, after-tax(2)
$
70

$
204

Amortization of unrecognized
 
 
Prior service cost (benefit)
$
(11
)
$
(30
)
Net actuarial loss
63

183

Curtailment/settlement impact (3)
33

61

Subtotal, pretax
$
85

$
214

Tax effect
(31
)
(80
)
Amortization of benefit plans, after-tax(3)
$
54

$
134

Foreign currency translation adjustment
$
—

$
—

Total amounts reclassified out of AOCI, pretax
$
154

$
527

Total tax effect
(64
)
(204
)
Total amounts reclassified out of AOCI, after-tax
$
90

$
323

(1)
The pretax amount is reclassified to Realized gains (losses) on sales of investments, net and Gross impairment losses on the Consolidated Statement of Income. See Note 13 to the Consolidated Financial Statements for additional details.
(2)
See Note 21 to the Consolidated Financial Statements for additional details.
(3)
See Notes 1 and 8 to the Consolidated Financial Statements for additional details.

During the three and nine months ended September 30, 2013, respectively, the Company recognized a pretax loss of $286 million ($175 million net of tax) and a pretax loss of $416 million ($236 million net of tax) related to amounts reclassified out of Accumulated other comprehensive income (loss) into the Consolidated Statement of Income. See details in the table below:
 
Increase (decrease) in AOCI due to amounts reclassified to Consolidated Statement of Income
In millions of dollars
Three Months Ended September 30, 2013
Nine months ended September 30, 2013
 
 
 
Realized (gains) losses on sales of investments
$
(63
)
$
(764
)
OTTI gross impairment losses
39

270

Subtotal, pretax
$
(24
)
$
(494
)
Tax effect
9

170

Net realized (gains) losses on investment securities, after-tax(1)
$
(15
)
$
(324
)
Interest rate contracts
$
211

$
596

Foreign exchange contracts
38

124

Subtotal, pretax
$
249

$
720

Tax effect
(96
)
(277
)
Amortization of cash flow hedges, after-tax(2)
$
153

$
443

Amortization of unrecognized
 
 
Prior service cost (benefit)
$
2

$
7

Net actuarial loss
61

205

Curtailment/settlement impact(3)
(2
)
(2
)
Cumulative effect of change in accounting policy(3)
—

(20
)
Subtotal, pretax
$
61

$
190

Tax effect
(24
)
(73
)
Amortization of benefit plans, after-tax(3)
$
37

$
117

Foreign currency translation adjustment
$
—

$
—

Total amounts reclassified out of AOCI, pretax
$
286

$
416

Total tax effect
(111
)
(180
)
Total amounts reclassified out of AOCI, after-tax
$
175

$
236

(1)
The pretax amount is reclassified to Realized gains (losses) on sales of investments, net and Gross impairment losses on the Consolidated Statement of Income. See Note 13 to the Consolidated Financial Statements for additional details.
(2)
See Note 21 to the Consolidated Financial Statements for additional details.
(3)
See Notes 1 and 8 to the Consolidated Financial Statements for additional details.