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CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (AOCI) (Tables)
 12 Months Ended
Dec. 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:
In millions of dollarsNet
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, 2017
$(1,158)$(921)$(698)$(6,183)$(25,708)$— $(34,668)
Adjustment to opening balance, net
  of taxes(6)
$(3)$— $— $— $— $— $(3)
Adjusted balance, beginning of year$(1,161)$(921)$(698)$(6,183)$(25,708)$— $(34,671)
Other comprehensive income before
reclassifications		(866)1,081 (135)(240)(2,607)(57)(2,824)
Increase (decrease) due to amounts
  reclassified from AOCI (7)
(223)32 105 166 245 — 325 
Change, net of taxes
$(1,089)$1,113 $(30)$(74)$(2,362)$(57)$(2,499)
Balance, December 31, 2018
$(2,250)$192 $(728)$(6,257)$(28,070)$(57)$(37,170)
Other comprehensive income before reclassifications3,065 (1,151)549 (758)(321)25 1,409 
Increase (decrease) due to amounts reclassified from AOCI
(1,080)15 302 206 — — (557)
Change, net of taxes
$1,985 $(1,136)$851 $(552)$(321)$25 $852 
Balance at December 31, 2019
$(265)$(944)$123 $(6,809)$(28,391)$(32)$(36,318)
Other comprehensive income before
reclassifications		4,837 (490)2,027 (287)(250)(15)5,822 
Increase (decrease) due to amounts
  reclassified from AOCI
(1,252)15 (557)232 — — (1,562)
Change, net of taxes $3,585 $(475)$1,470 $(55)$(250)$(15)$4,260 
Balance at December 31, 2020
$3,320 $(1,419)$1,593 $(6,864)$(28,641)$(47)$(32,058)
(1)Changes in DVA are reflected as a component of AOCI, pursuant to the adoption of ASU 2016-01 relating to the presentation of DVA on fair value option liabilities.
(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 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, South Korean won and Euro against the U.S. dollar and changes in related tax effects and hedges for the year ended December 31, 2020. Primarily reflects the movements in (by order of impact) the Indian rupee, Brazilian real, Chilean peso and Euro against the U.S. dollar and changes in related tax effects and hedges for the year ended December 31, 2019. Primarily reflects the movements in (by order of impact) the Brazilian real, Indian rupee, Mexican peso and Australian dollar against the U.S. dollar and changes in related tax effects and hedges for the year ended December 31, 2018. 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.
(5)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 2017-12, Targeted Improvements to Accounting for Hedging Activities. See Note 1 of the Consolidated Financial Statements for further information regarding this change.
(6)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.
(7)Includes the impact of the release of foreign currency translation adjustment, net of hedges, upon meeting the accounting trigger for substantial liquidation of Citi’s Japan Consumer Finance business during the fourth quarter of 2018. See Note 1 to the Consolidated Financial Statements.
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:
In millions of dollarsPretax
Tax effect(1)
After-tax
Balance, December 31, 2017
$(41,228)$6,560 $(34,668)
Adjustment to opening balance(2)
(4)1 (3)
Adjusted balance, beginning of year$(41,232)$6,561 $(34,671)
Change in net unrealized gains (losses) on investment securities(1,435)346 (1,089)
Debt valuation adjustment (DVA)1,415 (302)1,113 
Cash flow hedges(38)8 (30)
Benefit plans(94)20 (74)
Foreign currency translation adjustment(2,624)262 (2,362)
Excluded component of fair value hedges(74)17 (57)
Change$(2,850)$351 $(2,499)
Balance, December 31, 2018
$(44,082)$6,912 $(37,170)
Change in net unrealized gains (losses) on investment securities2,633 (648)1,985 
Debt valuation adjustment (DVA)(1,473)337 (1,136)
Cash flow hedges1,120 (269)851 
Benefit plans(671)119 (552)
Foreign currency translation adjustment(332)11 (321)
Excluded component of fair value hedges33 (8)25 
Change$1,310 $(458)$852 
Balance, December 31, 2019
$(42,772)$6,454 $(36,318)
Change in net unrealized gains (losses) on AFS debt securities4,799 (1,214)3,585 
Debt valuation adjustment (DVA)(616)141 (475)
Cash flow hedges1,925 (455)1,470 
Benefit plans(78)23 (55)
Foreign currency translation adjustment(227)(23)(250)
Excluded component of fair value hedges(23)8 (15)
Change$5,780 $(1,520)$4,260 
Balance, December 31, 2020
$(36,992)$4,934 $(32,058)
(1)    Includes the impact of ASU 2018-02, which transferred amounts from AOCI to Retained earnings. See Note 1 to the Consolidated Financial Statements.
(2)    Citi adopted ASU 2016-01 and ASU 2018-03 on January 1, 2018. Upon adoption, a cumulative effect adjustment was recorded from AOCI to Retained earnings for net unrealized gains on former AFS equity securities. For additional information, see Note 1 to the Consolidated Financial Statements.
Summary of amounts reclassified out of Accumulated other comprehensive income (loss) into the Consolidated Statement of income
The Company recognized pretax (gains) losses related to amounts in AOCI reclassified to the Consolidated Statement of Income as follows:
Increase (decrease) in AOCI due to amounts reclassified to Consolidated Statement of Income
Year ended December 31,
In millions of dollars202020192018
Realized (gains) losses on sales of investments$(1,756)$(1,474)$(421)
Gross impairment losses109 23 125 
Subtotal, pretax$(1,647)$(1,451)$(296)
Tax effect395 371 73 
Net realized (gains) losses on investments, after-tax(1)
$(1,252)$(1,080)$(223)
Realized DVA (gains) losses on fair value option liabilities, pretax$20 $20 $41 
Tax effect(5)(5)(9)
Net realized DVA, after-tax$15 $15 $32 
Interest rate contracts$(734)$384 $301 
Foreign exchange contracts4 7 17 
Subtotal, pretax$(730)$391 $318 
Tax effect173 (89)(213)
Amortization of cash flow hedges, after-tax(2)
$(557)$302 $105 
Amortization of unrecognized:
Prior service cost (benefit)$(5)$(12)$(34)
Net actuarial loss322 286 248 
Curtailment/settlement impact(3)
(8)1 6 
Subtotal, pretax$309 $275 $220 
Tax effect(77)(69)(54)
Amortization of benefit plans, after-tax(3)
$232 $206 $166 
Excluded component of fair value hedges, pretax$— $— $— 
Tax effect— — — 
Excluded component of fair value hedges, after-tax$— $— $— 
Foreign currency translation adjustment, pretax$— $— $34 
Tax effect— — 211 
Foreign currency translation adjustment, after-tax $— $— $245 
Total amounts reclassified out of AOCI, pretax
$(2,048)$(765)$317 
Total tax effect486 208 8 
Total amounts reclassified out of AOCI, after-tax
$(1,562)$(557)$325 
(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.