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CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (AOCI)
 3 Months Ended
Mar. 31, 2018
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) were as follows:
Three Months Ended March 31, 2018
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)
Excluded Component of fair value hedges (4)
Accumulated
other
comprehensive income (loss)
Balance, December 31, 2017
$
(1,158
)
$
(921
)
$
(698
)
$
(6,183
)
$
(25,708
)
$
—

$
(34,668
)
Adjustment to opening balance, net of taxes(5)
(3
)
—

—

—

—

—

(3
)
Adjusted balance, beginning of period
$
(1,161
)
$
(921
)
$
(698
)
$
(6,183
)
$
(25,708
)
$
—

$
(34,671
)
Other comprehensive income before reclassifications
(949
)
101

(243
)
41

1,120

(4
)
70

Increase (decrease) due to amounts reclassified from AOCI
(109
)
27

21

47

—

—

(14
)
Change, net of taxes
$
(1,058
)
$
128

$
(222
)
$
88

$
1,120

$
(4
)
$
52

Balance at March 31, 2018
$
(2,219
)
$
(793
)
$
(920
)
$
(6,095
)
$
(24,588
)
$
(4
)
$
(34,619
)

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)
Excluded Component of fair value hedges (4)
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 (6)
504

—

—

—

—

—

504

Adjusted balance, beginning of period
$
(295
)
$
(352
)
$
(560
)
$
(5,164
)
$
(25,506
)
$
—

$
(31,877
)
Other comprehensive income before reclassifications
334

(55
)
24

(49
)
1,465

—

1,719

Increase (decrease) due to amounts reclassified from AOCI
(114
)
(5
)
(26
)
37

(147
)
—

(255
)
Change, net of taxes
$
220

$
(60
)
$
(2
)
$
(12
)
$
1,318

$
—

$
1,464

Balance, March 31, 2017
$
(75
)
$
(412
)
$
(562
)
$
(5,176
)
$
(24,188
)
$
—

$
(30,413
)
(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, Japanese Yen, Euro, and Chinese Yuan against the U.S. dollar and changes in related tax effects and hedges for the quarter ended March 31, 2018. Primarily reflects the movements in (by order of impact) the Mexican peso, Korean Won, Japanese Yen and Indian Rupee against the U.S. dollar and changes in related tax effects and hedges for the quarter ended March, 31, 2017.
(4)
Beginning in the first quarter of 2018, changes in the excluded component of fair value hedges are reflected as a component of AOCI, pursuant to the early adoption of ASU No. 2017-12, Targeted Improvements to Accounting for Hedging Activities. See Note 1 to the Consolidated Financial Statements for further information regarding this change.
(5)
Citi adopted ASU 2016-01 and ASU 2018-03 on January 1, 2018. Upon adoption, a cumulative effect adjustment was recorded from AOCI to retained earnings for net unrealized gains on former AFS equity securities. For additional information, see Note 1 to the Consolidated Financial Statements.
(6)
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.

The pretax and after-tax changes in each component of Accumulated other comprehensive income (loss) were as follows:
Three Months Ended March 31, 2018
In millions of dollars
Pretax
Tax effect(1)
After-tax
Balance, December 31, 2017(1)
$
(41,228
)
$
6,560

$
(34,668
)
Adjustment to opening balance (2)
(4
)
1

(3
)
Adjusted balance, beginning of period
$
(41,232
)
$
6,561

$
(34,671
)
Change in net unrealized gains (losses) on AFS debt securities
(1,380
)
322

(1,058
)
Debt valuation adjustment (DVA)
167

(39
)
128

Cash flow hedges
(290
)
68

(222
)
Benefit plans
91

(3
)
88

Foreign currency translation adjustment
1,130

(10
)
1,120

Excluded component of fair value hedges
(5
)
1

(4
)
Change
$
(287
)
$
339

$
52

Balance, March 31, 2018
$
(41,519
)
$
6,900

$
(34,619
)


Three Months Ended March 31, 2017
In millions of dollars
Pretax
Tax effect
After-tax
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
346

(126
)
220

Debt valuation adjustment (DVA)
(95
)
35

(60
)
Cash flow hedges
1

(3
)
(2
)
Benefit plans
(2
)
(10
)
(12
)
Foreign currency translation adjustment
1,468

(150
)
1,318

Excluded component of fair value hedges
—

—

—

Change
$
1,718

$
(254
)
$
1,464

Balance, March 31, 2017
$
(39,514
)
$
9,101

$
(30,413
)

(1)
Includes the impact of ASU 2018-02, which transferred amounts from AOCI to Retained Earnings. For additional information, see Note 19 to the Consolidated Financial Statements in Citi’s 2017 Annual Report on Form 10-K.
(2)
Citi adopted ASU 2016-01 and ASU 2018-03 on January 1, 2018. Upon adoption, a cumulative effect adjustment was recorded from AOCI to retained earnings for net unrealized gains on former AFS equity securities. For additional information, 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 to the Consolidated Statement of Income as follows:
 
Increase (decrease) in AOCI due to amounts reclassified to Consolidated Statement of Income
 
Three Months Ended March 31,
In millions of dollars
2018
2017
Realized (gains) losses on sales of investments
$
(170
)
$
(192
)
Gross impairment losses
27

12

Subtotal, pretax
$
(143
)
$
(180
)
Tax effect
34

66

Net realized (gains) losses on investments after-tax(1)
$
(109
)
$
(114
)
Realized DVA (gains) losses on fair value option liabilities
$
35

$
(8
)
Subtotal, pretax
$
35

$
(8
)
Tax effect
(8
)
3

Net realized debt valuation adjustment, after-tax
$
27

$
(5
)
Interest rate contracts
$
31

$
(44
)
Foreign exchange contracts
(2
)
3

Subtotal, pretax
$
29

$
(41
)
Tax effect
(8
)
15

Amortization of cash flow hedges, after-tax(2)
$
21

$
(26
)
Amortization of unrecognized
 
 
Prior service cost (benefit)
$
(11
)
$
(10
)
Net actuarial loss
69

67

Curtailment/settlement impact(3)
4

—

Subtotal, pretax
$
62

$
57

Tax effect
(15
)
(20
)
Amortization of benefit plans, after-tax(3)
$
47

$
37

Foreign currency translation adjustment
$
—

$
(232
)
Tax effect
—

85

   Foreign currency translation adjustment
$
—

$
(147
)
Total amounts reclassified out of AOCI, pretax
$
(17
)
$
(404
)
Total tax effect
3

149

Total amounts reclassified out of AOCI, after-tax
$
(14
)
$
(255
)
(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 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.