XML 79 R48.htm IDEA: XBRL DOCUMENT v3.7.0.1
CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (AOCI) (Tables)
 6 Months Ended
Jun. 30, 2017
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]  
Changes in each component of accumulated other comprehensive income (loss)
Changes in each component of Citigroup’s Accumulated other comprehensive income (loss) were as follows:
Three Months Ended June 30, 2017
In millions of dollars
Net
unrealized
gains (losses)
on investment securities
Debt valuation adjustment (DVA)
Cash flow hedges(1)
Benefit plans(2)
Foreign
currency
translation
adjustment (CTA), net of hedges(3)
Accumulated
other
comprehensive income (loss)
Balance, March 31, 2017
$
(75
)
$
(412
)
$
(562
)
$
(5,176
)
$
(24,188
)
$
(30,413
)
Other comprehensive income before reclassifications
101

(79
)
62

(173
)
643

554

Increase (decrease) due to amounts reclassified from AOCI
(128
)
(5
)
55

38

—

(40
)
Change, net of taxes
$
(27
)
$
(84
)
$
117

$
(135
)
$
643

$
514

Balance at June 30, 2017
$
(102
)
$
(496
)
$
(445
)
$
(5,311
)
$
(23,545
)
$
(29,899
)
Six Months Ended June 30, 2017
In millions of dollars
Net
unrealized
gains (losses)
on investment securities
Debt valuation adjustment (DVA)
Cash flow hedges(1)
Benefit plans(2)
Foreign
currency
translation
adjustment (CTA), net of hedges(3)
Accumulated
other
comprehensive income (loss)
Balance, December 31, 2016
$
(799
)
$
(352
)
$
(560
)
$
(5,164
)
$
(25,506
)
$
(32,381
)
Adjustment to opening balance, net of taxes(4)
504

—

—

—

—

504

Adjusted balance, beginning of period
$
(295
)
$
(352
)
$
(560
)
$
(5,164
)
$
(25,506
)
$
(31,877
)
Other comprehensive income before reclassifications
435

(134
)
86

(222
)
2,108

2,273

Increase (decrease) due to amounts reclassified from AOCI
(242
)
(10
)
29

75

(147
)
(295
)
Change, net of taxes 
$
193

$
(144
)
$
115

$
(147
)
$
1,961

$
1,978

Balance at June 30, 2017
$
(102
)
$
(496
)
$
(445
)
$
(5,311
)
$
(23,545
)
$
(29,899
)
Three Months Ended June 30, 2016
In millions of dollars
Net
unrealized
gains (losses)
on investment securities
Debt valuation adjustment (DVA)
Cash flow hedges(1)
Benefit
plans(2)
Foreign
currency
translation
adjustment (CTA), net of hedges(3)
Accumulated
other
comprehensive income (loss)
Balance, March 31, 2016
$
1,127

$
178

$
(300
)
$
(5,581
)
$
(22,050
)
$
(26,626
)
Other comprehensive income before reclassifications
1,025

16

115

(66
)
(552
)
538

Increase (decrease) due to amounts reclassified from AOCI
(98
)
(4
)
36

39

—

(27
)
Change, net of taxes 
$
927

$
12

$
151

$
(27
)
$
(552
)
$
511

Balance, June 30, 2016
$
2,054

$
190

$
(149
)
$
(5,608
)
$
(22,602
)
$
(26,115
)
Six Months Ended June 30, 2016
In millions of dollars
Net
unrealized
gains (losses)
on investment securities
Debt valuation adjustment (DVA)
Cash flow hedges(1)
Benefit plans(2)
Foreign
currency
translation
adjustment (CTA), net of hedges(3)
Accumulated
other
comprehensive income (loss)
Balance, December 31, 2015
$
(907
)
$
—

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

(15
)
—

—

—

(15
)
Adjusted balance, beginning of period
$
(907
)
$
(15
)
$
(617
)
$
(5,116
)
$
(22,704
)
$
(29,359
)
Other comprehensive income before reclassifications
3,051

208

406

(566
)
102

3,201

Increase (decrease) due to amounts reclassified from AOCI
(90
)
(3
)
62

74

—

43

Change, net of taxes
$
2,961

$
205

$
468

$
(492
)
$
102

$
3,244

Balance, June 30, 2016
$
2,054

$
190

$
(149
)
$
(5,608
)
$
(22,602
)
$
(26,115
)
(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, Euro, and Polish zloty against the U.S. dollar, and changes in related tax effects and hedges for the quarter ended June 30, 2017. Primarily reflects the movements in (by order of impact) the Japanese yen, euro, and Brazilian real against the U.S. dollar, and changes in related tax effects and hedges for the quarter ended June 30, 2016.
(4)
In the second quarter of 2017, Citi early adopted ASU 2017-08, Receivables-Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities.  Upon adoption, a cumulative effect adjustment was recorded to reduce retained earnings, effective January 1, 2017, for the incremental amortization of cumulative fair value hedge adjustments on callable state and municipal debt securities.  For additional information, see Note 1 to the Consolidated Financial Statements.
(5)
Beginning in the first quarter of 2016, changes in DVA are reflected as a component of AOCI, pursuant to the early adoption of only the provisions of ASU 2016-01 relating to the presentation of DVA on fair value option liabilities. See Note 1 to the Consolidated Financial Statements for further information regarding this change.
Schedule of pretax and after-tax changes in each component of Accumulated other comprehensive income (loss)
The pretax and after-tax changes in each component of Accumulated other comprehensive income (loss) were as follows:
Three Months Ended June 30, 2017
In millions of dollars
Pretax
Tax effect
After-tax
Balance, March 31, 2017
$
(39,514
)
$
9,101

$
(30,413
)
Change in net unrealized gains (losses) on investment securities
(45
)
18

(27
)
Debt valuation adjustment (DVA)
(132
)
48

(84
)
Cash flow hedges
185

(68
)
117

Benefit plans
(219
)
84

(135
)
Foreign currency translation adjustment
619

24

643

Change
$
408

$
106

$
514

Balance, June 30, 2017
$
(39,106
)
$
9,207

$
(29,899
)

Six Months Ended June 30, 2017
In millions of dollars
Pretax
Tax effect
After-tax
Balance, December 31, 2016
$
(42,035
)
$
9,654

$
(32,381
)
Adjustment to opening balance (1)
803

(299
)
504

Adjusted balance, beginning of period
$
(41,232
)
$
9,355

$
(31,877
)
Change in net unrealized gains (losses) on investment securities
301

(108
)
193

Debt valuation adjustment (DVA)
(227
)
83

(144
)
Cash flow hedges
186

(71
)
115

Benefit plans
(221
)
74

(147
)
Foreign currency translation adjustment
2,087

(126
)
1,961

Change
$
2,126

$
(148
)
$
1,978

Balance, June 30, 2017
$
(39,106
)
$
9,207

$
(29,899
)

(1)
In the second quarter of 2017, Citi early adopted ASU 2017-08, Receivables-Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities.  Upon adoption, a cumulative effect adjustment was recorded to reduce retained earnings, effective January 1, 2017, for the incremental amortization of cumulative fair value hedge adjustments on callable state and municipal debt securities.  For additional information, see Note 1 to the Consolidated Financial Statements.

Three Months Ended June 30, 2016
In millions of dollars
Pretax
Tax effect
After-tax
Balance, March 31, 2016
$
(34,668
)
$
8,042

$
(26,626
)
Change in net unrealized gains (losses) on investment securities
1,482

(555
)
927

Debt valuation adjustment (DVA)
20

(8
)
12

Cash flow hedges
257

(106
)
151

Benefit plans
(31
)
4

(27
)
Foreign currency translation adjustment
(774
)
222

(552
)
Change
$
954

$
(443
)
$
511

Balance, June 30, 2016
$
(33,714
)
$
7,599

$
(26,115
)

Six Months Ended June 30, 2016
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
4,706

(1,745
)
2,961

Debt valuation adjustment (DVA)
327

(122
)
205

Cash flow hedges
739

(271
)
468

Benefit plans
(758
)
266

(492
)
Foreign currency translation adjustment
(262
)
364

102

Change
$
4,752

$
(1,508
)
$
3,244

Balance, June 30, 2016
$
(33,714
)
$
7,599

$
(26,115
)

(1)
Represents the $15 million adjustment related to the initial adoption of ASU 2016-01. See Note 1 to the Consolidated Financial Statements.
Summary of amounts reclassified out of accumulated other comprehensive income (loss) into the consolidated statement of income
The Company recognized pretax gain (loss) related to amounts in AOCI reclassified to the Consolidated Statement of Income as follows:
 
Increase (decrease) in AOCI due to amounts reclassified to Consolidated Statement of Income
 
Three Months Ended June 30,
Six Months Ended June 30,
In millions of dollars
2017
2017
Realized (gains) losses on sales of investments
$
(221
)
$
(413
)
OTTI gross impairment losses
20

32

Subtotal, pretax
$
(201
)
$
(381
)
Tax effect
73

139

Net realized (gains) losses on investment securities, after-tax(1)
$
(128
)
$
(242
)
Realized DVA (gains) losses on fair value option liabilities
$
(8
)
$
(16
)
Subtotal, pretax
$
(8
)
$
(16
)
Tax effect
3

6

Net realized debt valuation adjustment, after-tax
$
(5
)
$
(10
)
Interest rate contracts
$
90

$
46

Foreign exchange contracts
(2
)
1

Subtotal, pretax
$
88

$
47

Tax effect
(33
)
(18
)
Amortization of cash flow hedges, after-tax(2)
$
55

$
29

Amortization of unrecognized
 
 
Prior service cost (benefit)
$
(12
)
$
(22
)
Net actuarial loss
66

133

Curtailment/settlement impact(3)
7

7

Subtotal, pretax
$
61

$
118

Tax effect
(23
)
(43
)
Amortization of benefit plans, after-tax(3)
$
38

$
75

Foreign currency translation adjustment
$
—

$
(232
)
Tax effect
—

85

   Foreign currency translation adjustment
$
—

$
(147
)
Total amounts reclassified out of AOCI, pretax
$
(60
)
$
(464
)
Total tax effect
20

169

Total amounts reclassified out of AOCI, after-tax
$
(40
)
$
(295
)
(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 12 to the Consolidated Financial Statements for additional details.
(2)
See Note 19 to the Consolidated Financial Statements for additional details.
(3)
See Note 8 to the Consolidated Financial Statements for additional details.

The Company recognized pretax gain (loss) related to amounts in AOCI reclassified to the Consolidated Statement of Income as follows:
 
Increase (decrease) in AOCI due to amounts reclassified to Consolidated Statement of Income
 
Three Months Ended June 30,
Six Months Ended June 30,
In millions of dollars
2016
2016
Realized (gains) losses on sales of investments
$
(200
)
$
(386
)
OTTI gross impairment losses
48

251

Subtotal, pretax
$
(152
)
$
(135
)
Tax effect
54

45

Net realized (gains) losses on investment securities, after-tax(1)
$
(98
)
$
(90
)
Realized DVA (gains) losses on fair value option liabilities
$
(6
)
$
(5
)
Subtotal, pretax
$
(6
)
$
(5
)
Tax effect
$
2

$
2

Net realized debt valuation adjustment, after-tax
$
(4
)
$
(3
)
Interest rate contracts
$
41

$
57

Foreign exchange contracts
17

43

Subtotal, pretax
$
58

$
100

Tax effect
(22
)
(38
)
Amortization of cash flow hedges, after-tax(2)
$
36

$
62

Amortization of unrecognized
 
 
Prior service cost (benefit)
$
(11
)
$
(21
)
Net actuarial loss
69

135

Curtailment/settlement impact(3)
3

1

Subtotal, pretax
$
61

$
115

Tax effect
(22
)
(41
)
Amortization of benefit plans, after-tax(3)
$
39

$
74

Foreign currency translation adjustment
$
—

$
—

Total amounts reclassified out of AOCI, pretax
$
(39
)
$
75

Total tax effect
12

(32
)
Total amounts reclassified out of AOCI, after-tax
$
(27
)
$
43


(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 12 to the Consolidated Financial Statements for additional details.
(2)
See Note 19 to the Consolidated Financial Statements for additional details.
(3)
See Note 8 to the Consolidated Financial Statements for additional details.