XML 147 R26.htm IDEA: XBRL DOCUMENT v3.2.0.727
CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
 6 Months Ended
Jun. 30, 2015
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 six months ended June 30, 2015 and 2014 are as follows:
Three Months Ended June 30, 2015 :
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, March 31, 2015
$
648

$
(823
)
$
(5,249
)
$
(19,267
)
$
(24,691
)
Other comprehensive income (losses) before reclassifications
$
(844
)
$
22

$
539

$
(148
)
$
(431
)
Increase (decrease) due to amounts reclassified from AOCI
(91
)
70

39

—

18

Change, net of taxes
$
(935
)
$
92

$
578

$
(148
)
$
(413
)
Balance at June 30, 2015
$
(287
)
$
(731
)
$
(4,671
)
$
(19,415
)
$
(25,104
)
Six months ended June 30, 2015:
Balance, December 31, 2014
$
57

$
(909
)
$
(5,159
)
$
(17,205
)
$
(23,216
)
Other comprehensive income before reclassifications
$
(103
)
$
54

$
408

$
(2,210
)
$
(1,851
)
Increase (decrease) due to amounts reclassified from AOCI
(241
)
124

80

—

(37
)
Change, net of taxes
$
(344
)
$
178

$
488

$
(2,210
)
$
(1,888
)
Balance at June 30, 2015
$
(287
)
$
(731
)
$
(4,671
)
$
(19,415
)
$
(25,104
)

Three Months Ended June 30, 2014:
Balance, March 31, 2014
$
(1,212
)
$
(1,127
)
$
(4,022
)
$
(12,785
)
$
(19,146
)
Other comprehensive income before reclassifications
$
1,037

$
58

$
(195
)
$
17

$
917

Increase (decrease) due to amounts reclassified from AOCI
(31
)
62

51

—

82

Change, net of taxes
$
1,006

$
120

$
(144
)
$
17

$
999

Balance at June 30, 2014
$
(206
)
$
(1,007
)
$
(4,166
)
$
(12,768
)
$
(18,147
)

Six months ended June 30, 2014:
Balance, December 31, 2013
$
(1,640
)
$
(1,245
)
$
(3,989
)
$
(12,259
)
$
(19,133
)
Other comprehensive income before reclassifications
$
1,415

$
104

$
(257
)
$
(509
)
$
753

Increase (decrease) due to amounts reclassified from AOCI
19

134

80

—

233

Change, net of taxes
$
1,434

$
238

$
(177
)
$
(509
)
$
986

Balance at June 30, 2014
$
(206
)
$
(1,007
)
$
(4,166
)
$
(12,768
)
$
(18,147
)
(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, annual actuarial valuations of all other plans, and amortization of amounts previously recognized in other comprehensive income.
(3)
Primarily reflects the movements in (by order of impact) the Mexican peso, British pound, Korean won and euro against the U.S. dollar, and changes in related tax effects and hedges for the quarter ended June 30, 2015. Primarily reflects the movements in (by order of impact) the euro, Mexican peso, British pound, and Brazilian real against the U.S. dollar, and changes in related tax effects and hedges for the quarter ended March 31, 2015. 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 (by order of impact) 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.
(4)
During 2014, $137 million ($84 million net of tax) was 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 six months ended June 30, 2015 and 2014 are as follows:
Three Months Ended June 30, 2015:
In millions of dollars
Pretax
Tax effect
After-tax
Balance, March 31, 2015
$
(32,279
)
$
7,588

$
(24,691
)
Change in net unrealized gains (losses) on investment securities
(1,517
)
582

(935
)
Cash flow hedges
118

(26
)
92

Benefit plans
810

(232
)
578

Foreign currency translation adjustment
(280
)
132

(148
)
Change
$
(869
)
$
456

$
(413
)
Balance, June 30, 2015
$
(33,148
)
$
8,044

$
(25,104
)
Six months ended June 30, 2015:
In millions of dollars
Pretax
Tax effect
After-tax
Balance, December 31, 2014
$
(31,060
)
$
7,844

$
(23,216
)
Change in net unrealized gains (losses) on investment securities
(468
)
124

(344
)
Cash flow hedges
274

(96
)
178

Benefit plans
689

(201
)
488

Foreign currency translation adjustment
(2,583
)
373

(2,210
)
Change
$
(2,088
)
$
200

$
(1,888
)
Balance, June 30, 2015
$
(33,148
)
$
8,044

$
(25,104
)
Three Months Ended June 30, 2014:
In millions of dollars
Pretax
Tax effect
After-tax
Balance, March 31, 2014
$
(27,297
)
$
8,151

$
(19,146
)
Change in net unrealized gains (losses) on investment securities
1,585

(579
)
1,006

Cash flow hedges
205

(85
)
120

Benefit plans
(239
)
95

(144
)
Foreign currency translation adjustment
101

(84
)
17

Change
$
1,652

$
(653
)
$
999

Balance, June 30, 2014
$
(25,645
)
$
7,498

$
(18,147
)
Six months ended June 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
2,288

(854
)
1,434

Cash flow hedges
386

(148
)
238

Benefit plans
(294
)
117

(177
)
Foreign currency translation adjustment
(429
)
(80
)
(509
)
Change
$
1,951

$
(965
)
$
986

Balance, June 30, 2014
$
(25,645
)
$
7,498

$
(18,147
)



During the three and six months ended June 30, 2015, the Company recognized a pretax loss of $43 million ($18 million net of tax) and pretax gain of $(42) million ($(37) million net of tax), respectively, 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 June 30,
Six Months Ended June 30,
 
2015
2015
Realized (gains) losses on sales of investments
$
(183
)
$
(490
)
OTTI gross impairment losses
43

115

Subtotal, pretax
$
(140
)
$
(375
)
Tax effect
49

134

Net realized (gains) losses on investment securities, after-tax(1)
$
(91
)
$
(241
)
Interest rate contracts
$
74

$
120

Foreign exchange contracts
37

77

Subtotal, pretax
$
111

$
197

Tax effect
(41
)
(73
)
Amortization of cash flow hedges, after-tax(2)
$
70

$
124

Amortization of unrecognized
 
 
Prior service cost (benefit)
$
(10
)
$
(21
)
Net actuarial loss
72

147

Curtailment/settlement impact (3)
10

10

Subtotal, pretax
$
72

$
136

Tax effect
(33
)
(56
)
Amortization of benefit plans, after-tax(3)
$
39

$
80

Foreign currency translation adjustment
$
—

$
—

Total amounts reclassified out of AOCI, pretax
$
43

$
(42
)
Total tax effect
(25
)
5

Total amounts reclassified out of AOCI, after-tax
$
18

$
(37
)
(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 six months ended June 30, 2014, the Company recognized a pretax loss of $136 million ($82 million net of tax) and pretax loss of $373 million ($233 million net of tax), respectively, 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 June 30,
Six Months Ended June 30,
 
2014
2014
Realized (gains) losses on sales of investments
$
(84
)
$
(212
)
OTTI gross impairment losses
37

238

Subtotal, pretax
$
(47
)
$
26

Tax effect
16

(7
)
Net realized (gains) losses on investment securities, after-tax(1)
$
(31
)
$
19

Interest rate contracts
$
73

$
134

Foreign exchange contracts
28

84

Subtotal, pretax
$
101

$
218

Tax effect
(39
)
(84
)
Amortization of cash flow hedges, after-tax(2)
$
62

$
134

Amortization of unrecognized
 

Prior service cost (benefit)
$
(10
)
$
(19
)
Net actuarial loss
64

120

Curtailment/settlement impact (3)
28

28

Subtotal, pretax
$
82

$
129

Tax effect
(31
)
(49
)
Amortization of benefit plans, after-tax(3)
$
51

$
80

Foreign currency translation adjustment
$
—

$
—

Total amounts reclassified out of AOCI, pretax
$
136

$
373

Total tax effect
(54
)
(140
)
Total amounts reclassified out of AOCI, after-tax
$
82

$
233

(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.