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CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (AOCI)
 12 Months Ended
Dec. 31, 2017
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]  
CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (AOCI)
CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (AOCI)
Changes in each component of Citigroup’s Accumulated other comprehensive income (loss):
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, 2014
$
57

$
—

$
(909
)
$
(5,159
)
$
(17,205
)
$
(23,216
)
Other comprehensive income before reclassifications
(695
)
—

83

(143
)
(5,465
)
(6,220
)
Increase (decrease) due to amounts reclassified from AOCI
(269
)
—

209

186

(34
)
92

Change, net of taxes
$
(964
)
$
—

$
292

$
43

$
(5,499
)
$
(6,128
)
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
$
530

$
(335
)
$
(88
)
$
(208
)
$
(2,802
)
$
(2,903
)
Increase (decrease) due to amounts reclassified from AOCI 
(422
)
(2
)
145

160

—

(119
)
Change, net of taxes 
$
108

$
(337
)
$
57

$
(48
)
$
(2,802
)
$
(3,022
)
Balance, December 31, 2016
$
(799
)
$
(352
)
$
(560
)
$
(5,164
)
$
(25,506
)
$
(32,381
)
Adjustment to opening balance, net of taxes (5)
$
504

$
—

$
—

$
—

$
—

$
504

Adjusted balance, beginning of period
$
(295
)
$
(352
)
$
(560
)
$
(5,164
)
$
(25,506
)
$
(31,877
)
Impact of Tax Reform(6)
(223
)
(139
)
(113
)
(1,020
)
(1,809
)
(3,304
)
Other comprehensive income before reclassifications
(186
)
(426
)
(111
)
(158
)
1,607

726

Increase (decrease) due to amounts reclassified from AOCI
(454
)
(4
)
86

159

—

(213
)
Change, net of taxes 
$
(863
)
$
(569
)
$
(138
)
$
(1,019
)
$
(202
)
$
(2,791
)
Balance at December 31, 2017
$
(1,158
)
$
(921
)
$
(698
)
$
(6,183
)
$
(25,708
)
$
(34,668
)
(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 to the Consolidated Financial Statements for further information regarding this change.
(2)
Primarily driven by Citi’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 Citi’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 Euro, Mexican peso, Polish zloty and Korean won against the U.S. dollar and changes in related tax effects and hedges for the year ended December 31, 2017. Primarily reflects the movements in (by order of impact) the Mexican peso, Euro, British pound and Indian rupee against the U.S. dollar and changes in related tax effects and hedges for the year ended December 31, 2016. Primarily reflects the movements in (by order of impact) the Mexican peso, Brazilian real, Korean won and Euro against the U.S. dollar and changes in related tax effects and hedges for the year ended December 31, 2015.
(5)
In the second quarter of 2017, Citi early adopted ASU No. 2017-08. 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. See Note 1 to the Consolidated Financial Statements.
(6)
In the fourth quarter of 2017, Citi adopted ASU 2018-02, which transferred these amounts from AOCI to Retained earnings. See Note 1 to the Consolidated Financial Statements.





The pretax and after-tax changes in each component of Accumulated other comprehensive income (loss) are as follows:
In millions of dollars
Pretax
Tax Effect
Adoption of ASU 2018-02 (1)
After-tax
Balance, December 31, 2014
$
(31,060
)
$
7,844

$
—

$
(23,216
)
Change in net unrealized gains (losses) on investment securities
(1,462
)
498

—

(964
)
Cash flow hedges
468

(176
)
—

292

Benefit plans
19

24

—

43

Foreign currency translation adjustment
(6,405
)
906

—

(5,499
)
Change
$
(7,380
)
$
1,252

$
—

$
(6,128
)
Balance, December 31, 2015
$
(38,440
)
$
9,096

$
—

$
(29,344
)
Adjustment to opening balance(2)
(26
)
11

—

(15
)
Adjusted balance, beginning of period

$
(38,466
)
$
9,107

$
—

$
(29,359
)
Change in net unrealized gains (losses) on investment securities
167

(59
)
—

108

Debt valuation adjustment (DVA)
(538
)
201

—

(337
)
Cash flow hedges
84

(27
)
—

57

Benefit plans
(78
)
30

—

(48
)
Foreign currency translation adjustment
(3,204
)
402

—

(2,802
)
Change
$
(3,569
)
$
547

$
—

$
(3,022
)
Balance, December 31, 2016
$
(42,035
)
$
9,654

$
—

$
(32,381
)
Adjustment to opening balance(3)
803

(299
)
—

504

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

$
—

$
(31,877
)
Change in net unrealized gains (losses) on investment securities
(1,088
)
448

(223
)
(863
)
Debt valuation adjustment (DVA)
(680
)
250

(139
)
(569
)
Cash flow hedges
(37
)
12

(113
)
(138
)
Benefit plans
14

(13
)
(1,020
)
(1,019
)
Foreign currency translation adjustment
1,795

(188
)
(1,809
)
(202
)
Change
$
4

$
509

$
(3,304
)
$
(2,791
)
Balance, December 31, 2017
$
(41,228
)
$
9,864

$
(3,304
)
$
(34,668
)

(1)
In the fourth quarter of 2017, Citi adopted ASU 2018-02, which transferred these amounts from AOCI to Retained earnings. See Note 1 to the Consolidated Financial Statements.
(2) Represents the $(15) million adjustment related to the initial adoption of ASU 2016-01. See Note 1 to the Consolidated Financial Statements.
(3)
In the second quarter of 2017, Citi early adopted ASU 2017-08. 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. See Note 1 to the Consolidated Financial Statements.




The Company recognized pretax gain (loss) related to amounts in AOCI reclassified in the Consolidated Statement of Income as follows:
 
Increase (decrease) in AOCI due to amounts reclassified to Consolidated Statement of Income
 
Year ended December 31,
In millions of dollars
2017
2016
2015
Realized (gains) losses on sales of investments
$
(778
)
$
(948
)
$
(682
)
OTTI gross impairment losses
63

288

265

Subtotal, pretax
$
(715
)
$
(660
)
$
(417
)
Tax effect
261

238

148

Net realized (gains) losses on investment securities, after-tax(1)
$
(454
)
$
(422
)
$
(269
)
Realized DVA (gains) losses on fair value option liabilities
$
(7
)
$
(3
)
$
—

Subtotal, pretax
$
(7
)
$
(3
)
$
—

Tax effect
3

1

—

Net realized debt valuation adjustment, after-tax
$
(4
)
$
(2
)
$
—

Interest rate contracts
$
126

$
140

$
186

Foreign exchange contracts
10

93

146

Subtotal, pretax
$
136

$
233

$
332

Tax effect
(50
)
(88
)
(123
)
Amortization of cash flow hedges, after-tax(2)
$
86

$
145

$
209

Amortization of unrecognized
 
 
 
Prior service cost (benefit)
$
(42
)
$
(40
)
$
(40
)
Net actuarial loss
271

272

276

Curtailment/settlement impact(3)
17

18

57

Subtotal, pretax
$
246

$
250

$
293

Tax effect
(87
)
(90
)
(107
)
Amortization of benefit plans, after-tax(3)
$
159

$
160

$
186

Foreign currency translation adjustment
$
—

$
—

$
(53
)
Tax effect
—

—

19

Foreign currency translation adjustment
$
—

$
—

$
(34
)
Total amounts reclassified out of AOCI, pretax
$
(340
)
$
(180
)
$
155

Total tax effect
127

61

(63
)
Total amounts reclassified out of AOCI, after-tax
$
(213
)
$
(119
)
$
92

(1)
The pretax amount is reclassified to Realized gains (losses) on sales of investments, net and Gross impairment losses in the Consolidated Statement of Income. See Note 13 to the Consolidated Financial Statements for additional details.
(2)
See Note 22 to the Consolidated Financial Statements for additional details.
(3)
See Note 8 to the Consolidated Financial Statements for additional details.