OTHER COMPREHENSIVE INCOME/(LOSS)

The components of accumulated other comprehensive income/(loss) were as follows:



	For the three months ended June 30, 2016
$ in millions	Foreign currency translation		Employee benefit plans		Equity method investments	Available-for-sale investments		Total
Other comprehensive income/(loss) net of tax:
Currency translation differences on investments in foreign subsidiaries, net of tax	(166.6	)	—		—	—		(166.6	)
Actuarial (loss)/gain related to employee benefit plans, net of tax	—		—		—	—		—
Reclassification of prior service cost/(credit) into employee compensation expense, net of tax	—		(1.8	)	—	—		(1.8	)
Reclassification of actuarial (gain)/loss into employee compensation expense, net of tax	—		0.5		—	—		0.5
Share of other comprehensive income/(loss) of equity method investments, net of tax	—		—		0.9	—		0.9
Unrealized (losses)/gains on available-for-sale investments, net of tax	—		—		—	(0.6	)	(0.6	)
Reclassification of net (gains)/losses realized on available-for-sale investments included in other gains and losses, net, net of tax	—		—		—	(0.1	)	(0.1	)
Other comprehensive income/(loss), net of tax	(166.6	)	(1.3	)	0.9	(0.7	)	(167.7	)

Beginning balance	(268.6	)	(87.3	)	5.6	1.6		(348.7	)
Other comprehensive income/(loss), net of tax	(166.6	)	(1.3	)	0.9	(0.7	)	(167.7	)
Other comprehensive (income)/loss attributable to noncontrolling interests	2.5		—		—	—		2.5
Ending balance	(432.7	)	(88.6	)	6.5	0.9		(513.9	)



	For the six months ended June 30, 2016
$ in millions	Foreign currency translation		Employee benefit plans		Equity method investments	Available-for-sale investments		Total
Other comprehensive income/(loss) net of tax:
Currency translation differences on investments in foreign subsidiaries, net of tax	(69.4	)	—		—	—		(69.4	)
Actuarial (loss)/gain related to employee benefit plans, net of tax	—		(0.4	)	—	—		(0.4	)
Reclassification of prior service cost/(credit) into employee compensation expense, net of tax	—		(3.4	)	—	—		(3.4	)
Reclassification of actuarial (gain)/loss into employee compensation expense, net of tax	—		0.8		—	—		0.8
Share of other comprehensive income/(loss) of equity method investments, net of tax	—		—		0.6	—		0.6
Unrealized (losses)/gains on available-for-sale investments, net of tax	—		—		—	1.7		1.7
Reclassification of net (gains)/losses realized on available-for-sale investments included in other gains and losses, net, net of tax	—		—		—	(0.3	)	(0.3	)
Other comprehensive income/(loss), net of tax	(69.4	)	(3.0	)	0.6	1.4		(70.4	)

Beginning balance	(365.8	)	(85.6	)	5.9	(0.5	)	(446.0	)
Other comprehensive income/(loss), net of tax	(69.4	)	(3.0	)	0.6	1.4		(70.4	)
Other comprehensive (income)/loss attributable to noncontrolling interests	2.5		—		—	—		2.5
Ending balance	(432.7	)	(88.6	)	6.5	0.9		(513.9	)



	For the three months ended June 30, 2015
$ in millions	Foreign currency translation		Employee benefit plans		Equity method investments	Available-for-sale investments		Total
Other comprehensive income/(loss) net of tax:
Currency translation differences on investments in foreign subsidiaries, net of tax	162.6		—		—	—		162.6
Reclassification of prior service cost/(credit) into employee compensation expense, net of tax	—		(1.2	)	—	—		(1.2	)
Reclassification of actuarial (gain)/loss into employee compensation expense, net of tax	—		0.6		—	—		0.6
Share of other comprehensive income/(loss) of equity method investments, net of tax	—		—		0.2	—		0.2
Unrealized (losses)/gains on available-for-sale investments, net of tax	—		—		—	(3.0	)	(3.0	)
Reclassification of net (gains)/losses realized on available-for-sale investments included in other gains and losses, net, net of tax	—		—		—	(0.4	)	(0.4	)
Other comprehensive income/(loss), net of tax	162.6		(0.6	)	0.2	(3.4	)	158.8

Beginning balance	(174.8	)	(93.0	)	7.6	6.6		(253.6	)
Other comprehensive income/(loss), net of tax	162.6		(0.6	)	0.2	(3.4	)	158.8
Ending balance	(12.2	)	(93.6	)	7.8	3.2		(94.8	)



	For the six months ended June 30, 2015
$ in millions	Foreign currency translation		Employee benefit plans		Equity method investments	Available-for-sale investments		Total
Other comprehensive income/(loss) net of tax:
Currency translation differences on investments in foreign subsidiaries, net of tax	(140.3	)	—		—	—		(140.3	)
Reclassification of prior service cost/(credit) into employee compensation expense, net of tax	—		(3.0	)	—	—		(3.0	)
Reclassification of actuarial (gain)/loss into employee compensation expense, net of tax	—		1.1		—	—		1.1
Share of other comprehensive income/(loss) of equity method investments, net of tax	—		—		1.3	—		1.3
Unrealized (losses)/gains on available-for-sale investments, net of tax	—		—		—	(1.8	)	(1.8	)
Reclassification of net (gains)/losses realized on available-for-sale investments included in other gains and losses, net, net of tax	—		—		—	(0.9	)	(0.9	)
Other comprehensive income/(loss), net of tax	(140.3	)	(1.9	)	1.3	(2.7	)	(143.6	)

Beginning balance	128.1		(91.7	)	6.5	5.9		48.8
Other comprehensive income/(loss), net of tax	(140.3	)	(1.9	)	1.3	(2.7	)	(143.6	)
Ending balance	(12.2	)	(93.6	)	7.8	3.2		(94.8	)

Net Investment Hedge

During the second quarter 2016, the Company designated certain intercompany debt as a non-derivative net investment hedging instrument against foreign currency exposure related to its net investment in foreign operations. At June 30, 2016, £130 million ($173.9 million) of intercompany debt was designated as a net investment hedge. For the six months ended June 30, 2016, the Company recognized foreign currency gains of $13.3 million resulting from the net investment hedge within currency translation differences on investments in foreign subsidiaries in other comprehensive income. No hedge ineffectiveness was recognized in income.