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CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (AOCI) (Tables)
 3 Months Ended
Mar. 31, 2020
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 March 31, 2020
In millions of dollars
Net
unrealized
gains (losses)
on debt securities
Debt valuation adjustment (DVA)(1)
Cash flow hedges(2)
Benefit plans(3)
Foreign
currency
translation
adjustment (CTA), net of hedges(4)
Excluded component of fair value hedges(5)
Accumulated
other
comprehensive income (loss)
Balance, December 31, 2019
$
(265
)
$
(944
)
$
123

$
(6,809
)
$
(28,391
)
$
(32
)
$
(36,318
)
Other comprehensive income before
reclassifications
3,456

3,116

1,898

(344
)
(4,109
)
27

4,044

Increase (decrease) due to amounts
reclassified from AOCI 
(328
)
24

(1
)
58

—

—

(247
)
Change, net of taxes 
$
3,128

$
3,140

$
1,897

$
(286
)
$
(4,109
)
$
27

$
3,797

Balance at March 31, 2020
$
2,863

$
2,196

$
2,020

$
(7,095
)
$
(32,500
)
$
(5
)
$
(32,521
)

Three Months Ended March 31, 2019
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)
Excluded component of fair value hedges(5)
Accumulated
other
comprehensive income (loss)
Balance, December 31, 2018
$
(2,250
)
$
192

$
(728
)
$
(6,257
)
$
(28,070
)
$
(57
)
$
(37,170
)
Other comprehensive income before
reclassifications
1,226

(575
)
186

(110
)
58

18

803

Increase (decrease) due to amounts
reclassified from AOCI 
(91
)
4

100

46

—

—

59

Change, net of taxes 
$
1,135

$
(571
)
$
286

$
(64
)
$
58

$
18

$
862

Balance at March 31, 2019
$
(1,115
)
$
(379
)
$
(442
)
$
(6,321
)
$
(28,012
)
$
(39
)
$
(36,308
)
(1)
Changes in DVA are reflected as a component of AOCI, pursuant to the adoption of the provisions of ASU 2016-01 relating to the presentation of DVA on fair value options liabilities. See Note 1 to the Consolidated Financial Statements in Citi’s 2019 Annual Report on Form 10-K.
(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 Mexican peso, Brazilian real, Australian dollar, South Korean won and Chilean peso against the U.S. dollar and changes in related tax effects and hedges for the three months ended March 31, 2020. Primarily reflects the movements in (by order of impact) the Mexican peso, Chilean peso, Chinese yuan and Russian ruble against the U.S. dollar and changes in related tax effects and hedges for the three months ended March 31, 2019. Amounts recorded in the CTA component of AOCI remain in AOCI until the sale or substantial liquidation of the foreign entity, at which point such amounts related to the foreign entity are reclassified into earnings.
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 March 31, 2020
In millions of dollars
Pretax
Tax effect
After-tax
Balance, December 31, 2019
$
(42,772
)
$
6,454

$
(36,318
)
Change in net unrealized gains (losses) on debt securities
4,121

(993
)
3,128

Debt valuation adjustment (DVA)
4,188

(1,048
)
3,140

Cash flow hedges
2,484

(587
)
1,897

Benefit plans
(418
)
132

(286
)
Foreign currency translation adjustment
(4,055
)
(54
)
(4,109
)
Excluded component of fair value hedges
33

(6
)
27

Change
$
6,353

$
(2,556
)
$
3,797

Balance at March 31, 2020
$
(36,419
)
$
3,898

$
(32,521
)
Three Months Ended March 31, 2019
In millions of dollars
Pretax
Tax effect(1)
After-tax
Balance, December 31, 2018
$
(44,082
)
$
6,912

$
(37,170
)
Change in net unrealized gains (losses) on debt securities
1,500

(365
)
1,135

Debt valuation adjustment (DVA)
(725
)
154

(571
)
Cash flow hedges
378

(92
)
286

Benefit plans
(68
)
4

(64
)
Foreign currency translation adjustment
69

(11
)
58

Excluded component of fair value hedges
24

(6
)
18

Change
$
1,178

$
(316
)
$
862

Balance, March 31, 2019
$
(42,904
)
$
6,596

$
(36,308
)

(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 2019 Annual Report on Form 10-K.
Summary of amounts reclassified out of accumulated other comprehensive income (loss) into the consolidated statement of income
The Company recognized pretax gains (losses) 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
2020
2019
Realized (gains) losses on sales of investments
$
(432
)
$
(130
)
Gross impairment losses
—

3

Subtotal, pretax
$
(432
)
$
(127
)
Tax effect
104

36

Net realized (gains) losses on investments after-tax(1)
$
(328
)
$
(91
)
Realized DVA (gains) losses on fair value option liabilities, pretax
$
32

$
5

Tax effect
(8
)
(1
)
Net realized debt valuation adjustment, after-tax
$
24

$
4

Interest rate contracts
$
(3
)
$
130

Foreign exchange contracts
1

2

Subtotal, pretax
$
(2
)
$
132

Tax effect
1

(32
)
Amortization of cash flow hedges, after-tax(2)
$
(1
)
$
100

Amortization of unrecognized:


Prior service cost (benefit)
$
(3
)
$
(4
)
Net actuarial loss
79

65

Curtailment/settlement impact(3)
—

—

Subtotal, pretax
$
76

$
61

Tax effect
(18
)
(15
)
Amortization of benefit plans, after-tax(3)
$
58

$
46

Excluded component of fair value hedges, pretax
$
—

$
—

Tax effect
—

—

   Excluded component of fair value hedges, after-tax
$
—

$
—

Foreign currency translation adjustment
$
—

$
—

Tax effect
—

—

   Foreign currency translation adjustment
$
—

$
—

Total amounts reclassified out of AOCI, pretax
$
(326
)
$
71

Total tax effect
79

(12
)
Total amounts reclassified out of AOCI, after-tax
$
(247
)
$
59

(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.