CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

9 Months Ended

Sep. 30, 2012

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

16.   CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

        Changes in each component of Accumulated other comprehensive income (loss) for the nine months ended September 30, 2012 and 2011 are as follows:

Nine months ended September 30, 2012: In millions of dollars	Net unrealized gains (losses) on investment securities			Foreign currency translation adjustment, net of hedges			Cash flow hedges			Pension liability adjustments			Accumulated other comprehensive income (loss)
Balance, December 31, 2011	$	(35	)	$	(10,651	)	$	(2,820	)	$	(4,282	)	$	(17,788	)
Change, net of taxes(1)(2)(3)(4)(5)(6)		(774	)		1,697			220			(90	)		1,053
Balance, March 31, 2012	$	(809	)	$	(8,954	)	$	(2,600	)	$	(4,372	)	$	(16,735	)
Change, net of taxes(1)(3)(4)(5)(6)		564			(1,596	)		(89	)		107			(1,014	)
Balance, June 30, 2012	$	(245	)	$	(10,550	)	$	(2,689	)	$	(4,265	)	$	(17,749	)
Change, net of taxes(1)(3)(5)(6)		776			1,245			186			(24	)		2,183
Balance, September 30, 2012	$	531		$	(9,305	)	$	(2,503	)	$	(4,289	)	$	(15,566	)

Nine months ended September 30, 2011: In millions of dollars	Net unrealized gains (losses) on investment securities			Foreign currency translation adjustment, net of hedges			Cash flow hedges			Pension liability adjustments			Accumulated other comprehensive income (loss)
Balance, December 31, 2010	$	(2,395	)	$	(7,127	)	$	(2,650	)	$	(4,105	)	$	(16,277	)
Change, net of taxes(1)(3)(5)(6)		740			1,364			152			37			2,293
Balance, March 31, 2011	$	(1,655	)	$	(5,763	)	$	(2,498	)	$	(4,068	)	$	(13,984	)
Change, net of taxes(1)(3)(5)(6)		1,052			776			(69	)		3			1,762
Balance, June 30, 2011	$	(603	)	$	(4,987	)	$	(2,567	)	$	(4,065	)	$	(12,222	)
Change, net of taxes(1)(3)(5)(6)		505			(4,935	)		(532	)		140			(4,822	)
Balance, September 30, 2011	$	(98	)	$	(9,922	)	$	(3,099	)	$	(3,925	)	$	(17,044	)

(1)

The after-tax realized gains (losses) on sales and impairments of securities during the nine months ended September 30, 2012 and 2011 were $(1,255) million and $(26) million, respectively. For details of the realized gains (losses) on sales and impairments on Citigroup's investment securities included in income, see Note 11 to the Consolidated Financial Statements.

(2)

For net unrealized gains (losses) on investment securities, includes the after-tax impact of realized gains from the sales of minority investments: $672 million from the Company's entire interest in Housing Development Finance Corporation Ltd. (HDFC); and $421 million from the Company's entire interest in Shanghai Pudong Development Bank (SPDB).

(3)

For the third quarter of 2012, the foreign currency translation adjustment primarily reflected the movements in (by order of impact) the Mexican peso, Pound sterling, Chilean peso and Korean won against the U.S. dollar, and changes in related tax effects and hedges. For the second quarter of 2012, the foreign currency translation adjustment primarily reflected the movements in (by order of impact) the Mexican peso, Brazilian real, Indian rupee, Russian ruble and Polish zloty against the U.S. dollar, and changes in related tax effects and hedges. For the first quarter of 2012, primarily reflected the movements in (by order of impact) the Mexican peso, Turkish lira, Japanese yen, Euro and Polish zloty against the U.S. dollar, and changes in related tax effects and hedges. For the nine months ended September 30, 2011, primarily reflected the movements in (by order of impact) the Mexican peso, Turkish lira, Brazilian real, Indian rupee and Polish zloty against the U.S. dollar, and changes in related tax effects and hedges.

(4)

The after-tax impact due to impairment charges and the loss related to Akbank, included within the foreign currency translation adjustment, during the six months ended June 30, 2012 was $667 million. See Note 11 to the Consolidated Financial Statements.

(5)

For cash flow hedges, primarily driven by Citigroup's pay fixed/receive floating interest rate swap programs that are hedging the floating rates on deposits and long-term debt.

(6)

For the pension liability adjustment, primarily reflects adjustments based on the final year-end actuarial valuations of the Company's pension and postretirement plans and amortization of amounts previously recognized in other comprehensive income.

        The pretax and after-tax changes in each component of Accumulated other comprehensive income (loss) for the nine months ended September 30, 2012 and 2011 are as follows:

Nine months ended September 30, 2012: In millions of dollars	Pretax			Tax effect			After-tax
Balance, December 31, 2011	$	(25,454	)	$	7,666		$	(17,788	)
Change in net unrealized gains (losses) on investment securities		(1,204	)		430			(774	)
Foreign currency translation adjustment		1,499			198			1,697
Cash flow hedges		359			(139	)		220
Pension liability adjustment		31			(121	)		(90	)
Change	$	685		$	368		$	1,053
Balance, March 31, 2012	$	(24,769	)	$	8,034		$	(16,735	)
Change in net unrealized gains (losses) on investment securities		945			(381	)		564
Foreign currency translation adjustment		(1,728	)		132			(1,596	)
Cash flow hedges		(141	)		52			(89	)
Pension liability adjustment		127			(20	)		107
Change	$	(797	)	$	(217	)	$	(1,014	)
Balance, June 30, 2012	$	(25,566	)	$	7,817		$	(17,749	)
Change in net unrealized gains (losses) on investment securities		1,189			(413	)		776
Foreign currency translation adjustment		1,068			177			1,245
Cash flow hedges		294			(108	)		186
Pension liability adjustment		(33	)		9			(24	)
Change	$	2,518		$	(335	)	$	2,183
Balance, September 30, 2012	$	(23,048	)	$	7,482		$	(15,566	)

Nine months ended September 30, 2011: In millions of dollars	Pretax			Tax effect			After-tax
Balance, December 31, 2010	$	(24,607	)	$	8,330		$	(16,277	)
Change in net unrealized gains (losses) on investment securities		1,262			(522	)		740
Foreign currency translation adjustment		1,280			84			1,364
Cash flow hedges		267			(115	)		152
Pension liability adjustment		57			(20	)		37
Change	$	2,866		$	(573	)	$	2,293
Balance, March 31, 2011	$	(21,741	)	$	7,757		$	(13,984	)
Change in net unrealized gains (losses) on investment securities		1,600			(548	)		1,052
Foreign currency translation adjustment		745			31			776
Cash flow hedges		(118	)		49			(69	)
Pension liability adjustment		(12	)		15			3
Change	$	2,215		$	(453	)	$	1,762
Balance, June 30, 2011	$	(19,526	)	$	7,304		$	(12,222	)
Change in net unrealized gains (losses) on investment securities		893			(388	)		505
Foreign currency translation adjustment		(5,228	)		293			(4,935	)
Cash flow hedges		(857	)		325			(532	)
Pension liability adjustment		221			(81	)		140
Change	$	(4,971	)	$	149		$	(4,822	)
Balance, September 30, 2011	$	(24,497	)	$	7,453		$	(17,044	)