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OTHER COMPREHENSIVE (LOSS)/INCOME AND ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)
 12 Months Ended
Dec. 31, 2017
Equity [Abstract]  
Components of Other Comprehensive Income/(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, 2017
 
Before Tax Amount

 
Income Tax Recovery/(Expense)

 
Net of Tax Amount

(millions of Canadian $)
 
 
 
 
 
 
 
Foreign currency translation losses on net investment in foreign operations
 
(746
)
 
(3
)
 
(749
)
Reclassification of foreign currency translation gains on net investment on disposal of foreign operations
 
(77
)
 
—

 
(77
)
Change in fair value of net investment hedges
 
—

 
—

 
—

Change in fair value of cash flow hedges
 
3

 
—

 
3

Reclassification to net income of gains and losses on cash flow hedges
 
(3
)
 
1

 
(2
)
Unrealized actuarial gains and losses on pension and other post-retirement benefit plans
 
(14
)
 
3

 
(11
)
Reclassification of actuarial gains and losses on pension and other post-retirement benefit plans
 
21

 
(5
)
 
16

Other comprehensive loss on equity investments
 
(141
)
 
35

 
(106
)
Other Comprehensive Loss
 
(957
)
 
31

 
(926
)
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 of actuarial gains and losses 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 of actuarial gains and losses 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
Schedule of Changes in Accumulated Other Comprehensive Income
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, 2015
 
(518
)
 
(128
)
 
(281
)
 
(308
)
 
(1,235
)
Other comprehensive income/(loss) before reclassifications2
 
135

 
(57
)
 
51

 
33

 
162

Amounts reclassified from AOCI
 
—

 
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 AOCI
 
—

 
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
)
Other comprehensive (loss)/income before reclassifications2,3
 
(590
)
 
(1
)
 
(11
)
 
(117
)
 
(719
)
Amounts reclassified from AOCI4
 
(77
)
 
(2
)
 
16

 
11

 
(52
)
Net current period other comprehensive (loss)/income
 
(667
)
 
(3
)
 
5

 
(106
)
 
(771
)
AOCI balance at December 31, 2017
 
(1,043
)
 
(31
)
 
(203
)
 
(454
)
 
(1,731
)
1
All amounts are net of tax. Amounts in parentheses indicate losses recorded to OCI.
2
In 2017, other comprehensive (loss)/income before reclassifications on currency translation adjustments and cash flow hedges is net of non-controlling interest losses of $159 million (2016 – $14 million losses; 2015 – $306 million gains) and gains of $4 million (2016 – $3 million gains and 2015 – nil), respectively.
3
Other comprehensive (loss)/income before reclassification on pension and other post-retirement benefit plan adjustments includes a $27 million reduction on settlements and curtailments.
4
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 $19 million ($14 million, net of tax) at December 31, 2017. 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.
Schedule of Reclassifications out of Accumulated Other Comprehensive Income
Details about reclassifications out of AOCI into the Consolidated statement of income are as follows:
 
 
Amounts Reclassified
From AOCI1
 
Affected Line Item
in the Consolidated
Statement of
Income
year ended December 31
 
2017

 
2016

 
2015

 
(millions of Canadian $)
 
 
 
 
 
 
 
 
 
 
Cash flow hedges
 
 
 
 
 
 
 
 
     Commodities
 
20

 
(57
)
 
(128
)
 
Revenues (Energy)
     Interest
 
(17
)
 
(14
)
 
(16
)
 
Interest expense
 
 
3

 
(71
)
 
(144
)
 
Total before tax
 
 
(1
)
 
29

 
56

 
Income tax (recovery)/expense
 
 
2

 
(42
)
 
(88
)
 
Net of tax
Pension and other post-retirement benefit plan adjustments
 
 

 
 

 
 
 
 
     Amortization of actuarial loss and past service cost
 
(15
)
 
(22
)
 
(41
)
 
Plant operating costs and other2
Settlement charge
 
(2
)
 
—

 
—

 
Plant operating costs and other2

 
 
(17
)
 
(22
)
 
(41
)
 
Total before tax
 
 
5

 
6

 
9

 
Income tax (recovery)/expense
 
 
(12
)
 
(16
)
 
(32
)
 
Net of tax
Equity investments
 
 
 
 
 
 
 
 
     Equity income
 
(15
)
 
(19
)
 
(19
)
 
Income from equity investments
 
 
4

 
5

 
5

 
Income tax (recovery)/expense
 
 
(11
)
 
(14
)
 
(14
)
 
Net of tax
Currency translation adjustments
 
 
 
 
 
 
 
 
Realization of foreign currency translation gains on disposal of foreign operations
 
77

 
—

 
—

 
Gain/(loss) on sale of assets held for sale/sold
 
 
—

 
—

 
—

 
Income tax (recovery)/expense
 
 
77

 
—

 
—

 
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 22, Employee post-retirement benefits for further information.