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OTHER COMPREHENSIVE (LOSS)/INCOME AND ACCUMULATED OTHER COMPREHENSIVE LOSS
 12 Months Ended
Dec. 31, 2016
Equity [Abstract]  
OTHER COMPREHENSIVE (LOSS)/INCOME AND ACCUMULATED OTHER COMPREHENSIVE LOSS
OTHER COMPREHENSIVE (LOSS)/INCOME AND ACCUMULATED OTHER COMPREHENSIVE LOSS
Components of Other comprehensive (loss)/income, including the portion attributable to non-controlling interests and related tax effects, are as follows:
year ended December 31, 2016
 
Before Tax Amount

 
Income Tax Recovery/(Expense)

 
Net of Tax Amount

(millions of Canadian $)
 
 
 
 
 
 
 
Foreign currency translation gains on net investment in foreign operations
 
3

 
—

 
3

Change in fair value of net investment hedges
 
(14
)
 
4

 
(10
)
Change in fair value of cash flow hedges
 
44

 
(14
)
 
30

Reclassification to net income of gains and losses on cash flow hedges
 
71

 
(29
)
 
42

Unrealized actuarial gains and losses on pension and other post-retirement benefit plans
 
(38
)
 
12

 
(26
)
Reclassification to net income of actuarial loss on pension and other post-retirement benefit plans
 
22

 
(6
)
 
16

Other comprehensive loss on equity investments
 
(117
)
 
30

 
(87
)
Other Comprehensive Loss
 
(29
)
 
(3
)
 
(32
)
year ended December 31, 2015
 
Before Tax Amount

 
Income Tax
Recovery/(Expense)

 
Net of Tax Amount

(millions of Canadian $)
 
 
 
 
 
 
 
Foreign currency translation gains on net investment in foreign operations
 
798

 
15

 
813

Change in fair value of net investment hedges
 
(505
)
 
133

 
(372
)
Change in fair value of cash flow hedges
 
(92
)
 
35

 
(57
)
Reclassification to net income of gains and losses on cash flow hedges
 
144

 
(56
)
 
88

Unrealized actuarial gains and losses on pension and other post-retirement benefit plans
 
74

 
(23
)
 
51

Reclassification to net income of actuarial loss and prior service costs on pension and other post-retirement benefit plans
 
41

 
(9
)
 
32

Other comprehensive income on equity investments
 
62

 
(15
)
 
47

Other Comprehensive Income
 
522

 
80

 
602

year ended December 31, 2014
 
Before Tax Amount

 
Income Tax Recovery/(Expense)

 
Net of Tax Amount

(millions of Canadian $)
Foreign currency translation gains on net investment in foreign operations
 
462

 
55

 
517

Change in fair value of net investment hedges
 
(373
)
 
97

 
(276
)
Change in fair value of cash flow hedges
 
(118
)
 
49

 
(69
)
Reclassification to net income of gains and losses on cash flow hedges
 
(95
)
 
40

 
(55
)
Unrealized actuarial gains and losses on pension and other post-retirement benefit plans
 
(146
)
 
44

 
(102
)
Reclassification to net income of actuarial loss and prior service costs on pension and other post-retirement benefit plans
 
25

 
(7
)
 
18

Other comprehensive loss on equity investments
 
(272
)
 
68

 
(204
)
Other Comprehensive Loss
 
(517
)
 
346

 
(171
)

The changes in AOCI by component are as follows:
 
 
Currency
Translation
Adjustments

 
Cash Flow
Hedges

 
Pension and Other Post-Retirement Benefit Plan Adjustments

 
Equity Investments

 
Total1

 
 
 
 
 
 
 
 
 
 
 
AOCI balance at January 1, 2014
 
(629
)
 
(4
)
 
(197
)
 
(104
)
 
(934
)
Other comprehensive income/(loss) before reclassifications2
 
111

 
(69
)
 
(102
)
 
(206
)
 
(266
)
Amounts reclassified from accumulated other comprehensive loss
 
—

 
(55
)
 
18

 
2

 
(35
)
Net current period other comprehensive income/(loss)
 
111

 
(124
)
 
(84
)
 
(204
)
 
(301
)
AOCI balance at December 31, 2014
 
(518
)
 
(128
)
 
(281
)
 
(308
)
 
(1,235
)
Other comprehensive income/(loss) before reclassifications2
 
135

 
(57
)
 
51

 
33

 
162

Amounts reclassified from accumulated other comprehensive loss
 
—

 
88

 
32

 
14

 
134

Net current period other comprehensive income
 
135

 
31

 
83

 
47

 
296

AOCI balance at December 31, 2015
 
(383
)
 
(97
)
 
(198
)
 
(261
)
 
(939
)
Other comprehensive income/(loss) before reclassifications2
 
7

 
27

 
(26
)
 
(101
)
 
(93
)
Amounts reclassified from accumulated other comprehensive loss3
 
—

 
42

 
16

 
14

 
72

Net current period other comprehensive income/(loss)
 
7

 
69

 
(10
)
 
(87
)
 
(21
)
AOCI balance at December 31, 2016
 
(376
)
 
(28
)
 
(208
)
 
(348
)
 
(960
)
1
All amounts are net of tax. Amounts in parentheses indicate losses recorded to OCI.
2
Other comprehensive (loss)/income before reclassifications on currency translation adjustments and cash flow hedges is net of non-controlling interest losses of $14 million (2015 – $306 million gains; 2014 – $130 million gains) and gains of $3 million (2015 and 2014 - nil), respectively in 2016.
3
Losses related to cash flow hedges reported in AOCI and expected to be reclassified to Net income in the next 12 months are estimated to be $5 million ($3 million, net of tax) at December 31, 2016. These estimates assume constant commodity prices, interest rates and foreign exchange rates over time, however, the amounts reclassified will vary based on the actual value of these factors at the date of settlement.
Details about reclassifications out of AOCI into the Consolidated statement of income are as follows:
 
 
Amounts Reclassified From
Accumulated Other
Comprehensive Loss1
 
Affected Line Item
in the Consolidated
Statement of
Income
year ended December 31
 
2016

 
2015

 
2014

 
(millions of Canadian $)
 
 
 
 
 
 
 
 
 
 
Cash flow hedges
 
 
 
 
 
 
 
 
     Commodities
 
(57
)
 
(128
)
 
111

 
Revenues (Energy)
     Interest
 
(14
)
 
(16
)
 
(16
)
 
Interest expense
 
 
(71
)
 
(144
)
 
95

 
Total before tax
 
 
29

 
56

 
(40
)
 
Income tax expense/(recovery)
 
 
(42
)
 
(88
)
 
55

 
Net of tax
Pension and other post-retirement benefit plan adjustments
 
 

 
 

 
 
 
 
     Amortization of actuarial loss and past service cost
 
(22
)
 
(41
)
 
(25
)
 
Plant operating costs and other2
 
 
6

 
9

 
7

 
Income tax expense
 
 
(16
)
 
(32
)
 
(18
)
 
Net of tax
Equity investments
 
 
 
 
 
 
 
 
     Equity income
 
(19
)
 
(19
)
 
(2
)
 
Income from equity investments
 
 
5

 
5

 
—

 
Income tax expense
 
 
(14
)
 
(14
)
 
(2
)
 
Net of tax
1
All amounts in parentheses indicate expenses to the Consolidated statement of income.
2
These AOCI components are included in the computation of net benefit cost. Refer to Note 23, Employee post-retirement benefits for further information.