CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)

3 Months Ended

Mar. 31, 2013

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

Changes in each component of Accumulated Other Comprehensive Income (Loss)

Three Months Ended March 31, 2013: 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 at December 31, 2012	$	597	$	(9,930	)	$	(2,293	)	$	(5,270	)	$	(16,896	)
Change, net of taxes(1)(2)(3)	$	169	$	(711	)	$	125		$	254		$	(163	)
Balance at March 31, 2013	$	766	$	(10,641	)	$	(2,168	)	$	(5,016	)	$	(17,059	)

Three Months Ended March 31, 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 at December 31, 2011	$	(35	)	$	(10,651	)	$	(2,820	)	$	(4,282	)	$	(17,788	)
Change, net of taxes(1)(2)(3)(4)(5)	$	(774	)	$	1,697		$	220		$	(90	)	$	1,053
Balance at March 31, 2012	$	(809	)	$	(8,954	)	$	(2,600	)	$	(4,372	)	$	(16,735	)

(1)

For the first quarter 2013, primarily reflects the movements in (by order of impact) the Mexican peso, Japanese yen, British pound, and Korean won against the U.S. dollar, and changes in related tax effects and hedges. For the first quarter of 2012, primarily reflects 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.

(2)

For cash flow hedges, primarily driven by Citigroup's pay fixed/receive floating interest rate swap programs that are hedging the floating rates on liabilities.

(3)

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.

(4)

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 remaining interest in Housing Development Finance Corporation Ltd. (HDFC); and $421 million from the Company's entire interest in Shanghai Pudong Development Bank (SPDB).

(5)

The after-tax impact due to impairment charges and the loss related to Akbank, included within the foreign currency translation adjustment, was $636 million during the first quarter of 2012. See Note 12 to the Consolidated Financial Statements.

Schedule of pretax and after-tax changes in each component of Accumulated other comprehensive income (loss)

Three Months Ended March 31, 2013: In millions of dollars	Pretax			Tax effect			After-tax
Balance, December 31, 2012	$	(25,334	)	$	8,438		$	(16,896	)
Change in net unrealized gains (losses) on investment securities		281			(112	)		169
Foreign currency translation adjustment		(697	)		(14	)		(711	)
Cash flow hedges		201			(76	)		125
Pension liability adjustment		348			(94	)		254
Change	$	133		$	(296	)	$	(163	)
Balance, March 31, 2013	$	(25,201	)	$	8,142		$	(17,059	)

Three Months Ended March 31, 2012: In millions of dollars	Pretax			Tax effect			After-tax
Balance, December 31, 2011	$	(25,807	)	$	8,019		$	(17,788	)
Change in net unrealized gains (losses) on investment securities		(1,204	)		430			(774	)
Foreign currency translation adjustment		1,576			121			1,697
Cash flow hedges		359			(139	)		220
Pension liability adjustment		31			(121	)		(90	)
Change	$	762		$	291		$	1,053
Balance, March 31, 2012	$	(25,045	)	$	8,310		$	(16,735	)

Summary of amounts reclassified out of Accumulated other comprehensive income (loss) into the Consolidated Statement of income

Three Months Ended March 31, 2013: In millions of dollars	Amounts reclassified from AOCI
Realized gains on sales of investments	$	450
OTTI gross impairment losses		(261	)
Subtotal	$	189
Tax effect		(59	)
Net realized gains (losses) on investment securities(1)	$	130
Interest rate contracts	$	183
Foreign exchange contracts		43
Subtotal	$	226
Tax effect		(87	)
Amortization of cash flow hedges(2)	$	139
Amortization of prior service costs	$	3
Amortization of prior of actuarial gains (losses)		73
Subtotal	$	76
Tax effect		(29	)
Amortization of pension liability adjustment(3)	$	47
Foreign currency translation adjustment	$	—
Total amounts reclassified out of AOCI—pretax	$	491
Total tax effect		(175	)
Total amounts reclassified out of AOCI—after-tax	$	316

(1)

The pretax amount is reclassified to Realized gains (losses) on sales of investments, net and Gross impairment losses on the Consolidated Statement of Income.

(2)

See Note 19 to the Consolidated Financial Statements for additional details.

(3)

See Note 8 to the Consolidated Financial Statements for additional details.