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CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
 3 Months Ended
Mar. 31, 2016
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) were as follows:
In millions of dollars
Net
unrealized
gains (losses)
on investment securities
Debt valuation adjustment (DVA)(1)
Cash flow hedges(2)
Benefit plans(3)
Foreign
currency
translation
adjustment (CTA), net of hedges(4)
Accumulated
other
comprehensive income (loss)
Balance, December 31, 2015
$
(907
)
$
—

$
(617
)
$
(5,116
)
$
(22,704
)
$
(29,344
)
Adjustment to opening balance, net of taxes(1)
—

(15
)
—

—

—

(15
)
Adjusted balance, beginning of period
$
(907
)
$
(15
)
$
(617
)
$
(5,116
)
$
(22,704
)
$
(29,359
)
Other comprehensive income before reclassifications
2,026

192

291

(500
)
654

2,663

Increase (decrease) due to amounts reclassified from AOCI
8

1

26

35

—

70

Change, net of taxes 
$
2,034

$
193

$
317

$
(465
)
$
654

$
2,733

Balance at March 31, 2016
$
1,127

$
178

$
(300
)
$
(5,581
)
$
(22,050
)
$
(26,626
)

In millions of dollars
Net
unrealized
gains (losses)
on investment securities
Cash flow hedges(2)
Benefit plans(3)
Foreign
currency
translation
adjustment (CTA), net of hedges(4)
Accumulated
other
comprehensive income (loss)
Balance, December 31, 2014
$
57

$
(909
)
$
(5,159
)
$
(17,205
)
$
(23,216
)
Other comprehensive income before reclassifications
742

32

(131
)
(2,062
)
(1,419
)
Increase (decrease) due to amounts reclassified from
  AOCI
(151
)
54

41

—

(56
)
Change, net of taxes
$
591

$
86

$
(90
)
$
(2,062
)
$
(1,475
)
Balance, March 31, 2015
$
648

$
(823
)
$
(5,249
)
$
(19,267
)
$
(24,691
)
(1)
Beginning in the first quarter of 2016, changes in DVA are reflected as a component of AOCI, pursuant to the adoption of only the provisions of ASU 2016-01 relating to the presentation of DVA on fair value option liabilities. See Note 1 in the Consolidated Financial Statements for further information regarding this change.
(2)
Primarily driven by Citigroup’s pay fixed/receive floating interest rate swap programs that hedge the floating rates on liabilities.
(3)
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.
(4)
Primarily reflects the movements in (by order of impact) the Japanese yen, euro, Brazilian real and Chilean peso against the U.S. dollar, and changes in related tax effects and hedges for the three months ended March 31, 2016. 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 three months ended March 31, 2015.




The pretax and after-tax changes in each component of Accumulated other comprehensive income (loss) were as follows:
In millions of dollars
Pretax
Tax effect
After-tax
Balance, December 31, 2015
$
(38,440
)
$
9,096

$
(29,344
)
Adjustment to opening balance (1)
(26
)
11

(15
)
Adjusted balance, beginning of period
$
(38,466
)
$
9,107

$
(29,359
)
Change in net unrealized gains (losses) on investment securities
3,224

(1,190
)
2,034

Debt valuation adjustment (DVA)
307

(114
)
193

Cash flow hedges
481

(164
)
317

Benefit plans
(727
)
262

(465
)
Foreign currency translation adjustment
513

141

654

Change
$
3,798

$
(1,065
)
$
2,733

Balance, March 31, 2016
$
(34,668
)
$
8,042

$
(26,626
)

(1)
Represents the ($15) million adjustment related to the initial adoption of ASU 2016-01. See Note 1 in the Consolidated Financial Statements.

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
1,048

(457
)
591

Cash flow hedges
156

(70
)
86

Benefit plans
(121
)
31

(90
)
Foreign currency translation adjustment
(2,302
)
240

(2,062
)
Change
$
(1,219
)
$
(256
)
$
(1,475
)
Balance, March 31, 2015
$
(32,279
)
$
7,588

$
(24,691
)



During the three months ended March 31, 2016 and 2015, the Company recognized pretax loss of $114 million ($70 million loss net of tax) and pretax gain of $85 million ($56 million gain net of tax), respectively, related to amounts reclassified out of AOCI 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
 
Three Months Ended March 31,
In millions of dollars
2016
2015
Realized (gains) losses on sales of investments
$
(186
)
$
(307
)
OTTI gross impairment losses
203

72

Subtotal, pretax
$
17

$
(235
)
Tax effect
(9
)
84

Net realized (gains) losses on investment securities, after-tax(1)
$
8

$
(151
)
Realized DVA (gains) losses on fair value option liabilities
$
1

$
—

Subtotal, pretax
$
1

$
—

Tax effect
—

—

Net realized debt valuation adjustment, after-tax
$
1

$
—

Interest rate contracts
$
16

$
46

Foreign exchange contracts
26

40

Subtotal, pretax
$
42

$
86

Tax effect
(16
)
(32
)
Amortization of cash flow hedges, after-tax(2)
$
26

$
54

Amortization of unrecognized
 
 
Prior service cost (benefit)
$
(10
)
$
(11
)
Net actuarial loss
66

75

Curtailment/settlement impact(3)
(2
)
—

Subtotal, pretax
$
54

$
64

Tax effect
(19
)
(23
)
Amortization of benefit plans, after-tax(3)
$
35

$
41

Foreign currency translation adjustment
$
—

$
—

Total amounts reclassified out of AOCI, pretax
$
114

$
(85
)
Total tax effect
(44
)
29

Total amounts reclassified out of AOCI, after-tax
$
70

$
(56
)
(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 Note 8 to the Consolidated Financial Statements for additional details.