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OTHER COMPREHENSIVE (LOSS)/INCOME AND ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)
 12 Months Ended
Dec. 31, 2019
Equity [Abstract]  
Components of Other Comprehensive (Loss)/Income
Components of OCI, including the portion attributable to non-controlling interests and related tax effects, are as follows:
year ended December 31, 2019
 
Before Tax Amount

 
Income Tax Recovery/(Expense)

 
Net of Tax Amount

(millions of Canadian $)
 
 
 
 
 
 
 
Foreign currency translation losses on net investment in foreign operations
 
(914
)
 
(30
)
 
(944
)
Reclassification of foreign currency translation gains on disposal of foreign operations
 
(13
)
 
—

 
(13
)
Change in fair value of net investment hedges
 
46

 
(11
)
 
35

Change in fair value of cash flow hedges
 
(78
)
 
16

 
(62
)
Reclassification to net income of gains and losses on cash flow hedges
 
19

 
(5
)
 
14

Unrealized actuarial gains and losses on pension and other post-retirement benefit plans
 
(15
)
 
5

 
(10
)
Reclassification of actuarial gains and losses on pension and other post-retirement benefit plans
 
14

 
(4
)
 
10

Other comprehensive loss on equity investments
 
(114
)
 
32

 
(82
)
Other Comprehensive Loss
 
(1,055
)
 
3

 
(1,052
)
year ended December 31, 2018
 
Before Tax Amount

 
Income Tax Recovery/(Expense)

 
Net of Tax Amount

(millions of Canadian $)
 
 
 
 
 
 
 
Foreign currency translation gains on net investment in foreign operations
 
1,323

 
35

 
1,358

Change in fair value of net investment hedges
 
(57
)
 
15

 
(42
)
Change in fair value of cash flow hedges
 
(14
)
 
4

 
(10
)
Reclassification to net income of gains and losses on cash flow hedges
 
27

 
(6
)
 
21

Unrealized actuarial gains and losses on pension and other post-retirement benefit plans
 
(153
)
 
39

 
(114
)
Reclassification of actuarial gains and losses on pension and other post-retirement benefit plans
 
20

 
(5
)
 
15

Other comprehensive income on equity investments
 
113

 
(27
)
 
86

Other Comprehensive Income
 
1,259

 
55

 
1,314

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 disposal of foreign operations
 
(77
)
 
—

 
(77
)
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
)
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, 2017
 
(376
)
 
(28
)
 
(208
)
 
(348
)
 
(960
)
Other comprehensive loss before reclassifications2,3
 
(590
)
 
(1
)
 
(11
)
 
(117
)
 
(719
)
Amounts reclassified from AOCI
 
(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
)
Other comprehensive income/(loss) before reclassifications2
 
1,150

 
(9
)
 
(114
)
 
72

 
1,099

Amounts reclassified from AOCI
 
—

 
16

 
15

 
12

 
43

Net current period other comprehensive income/(loss)
 
1,150

 
7

 
(99
)
 
84

 
1,142

Reclassification of AOCI to retained earnings resulting from U.S. Tax Reform
 
—

 
1

 
(12
)
 
(6
)
 
(17
)
AOCI balance at December 31, 2018
 
107

 
(23
)
 
(314
)
 
(376
)
 
(606
)
Other comprehensive loss before reclassifications2
 
(824
)
 
(49
)
 
(10
)
 
(86
)
 
(969
)
Amounts reclassified from AOCI4,5
 
(13
)
 
14

 
10

 
5

 
16

Net current period other comprehensive (loss)
 
(837
)
 
(35
)
 
—

 
(81
)
 
(953
)
AOCI balance at December 31, 2019
 
(730
)
 
(58
)
 
(314
)
 
(457
)
 
(1,559
)
1
All amounts are net of tax. Amounts in parentheses indicate losses recorded to OCI.
2
In 2019, other comprehensive loss before reclassifications on currency translation adjustments, cash flow hedges and equity investments are net of non-controlling interest losses of $85 million (2018 – $166 million gains; 2017 – $159 million losses), $13 million (2018 – $1 million losses; 2017 – $4 million gains) and $1 million (2018 and 2017 – nil), respectively.
3
Other comprehensive loss 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 $18 million ($13 million, net of tax) at December 31, 2019. 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.
5
In 2019, non-controlling interest gains related to amounts reclassified from AOCI on cash flow hedges and equity investments was nil.
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
 
2019

 
2018

 
2017

 
(millions of Canadian $)
 
 
 
 
 
 
 
 
 
 
Cash flow hedges
 
 
 
 
 
 
 
 
     Commodities
 
(7
)
 
(4
)
 
20

 
Revenues (Power and Storage)
     Interest
 
(12
)
 
(18
)
 
(17
)
 
Interest expense
 
 
(19
)
 
(22
)
 
3

 
Total before tax
 
 
5

 
6

 
(1
)
 
Income tax expense
 
 
(14
)
 
(16
)
 
2

 
Net of tax1,3
Pension and other post-retirement benefit plan adjustments
 
 

 
 

 
 
 
 
     Amortization of actuarial gains and losses
 
(14
)
 
(16
)
 
(15
)
 
Plant operating costs and other2
Settlement charge
 
—

 
(4
)
 
(2
)
 
Plant operating costs and other2
 
 
(14
)
 
(20
)
 
(17
)
 
Total before tax
 
 
4

 
5

 
5

 
Income tax expense
 
 
(10
)
 
(15
)
 
(12
)
 
Net of tax1
Equity investments
 
 
 
 
 
 
 
 
     Equity income
 
(8
)
 
(16
)
 
(15
)
 
Income from equity investments
 
 
3

 
4

 
4

 
Income tax expense
 
 
(5
)
 
(12
)
 
(11
)
 
Net of tax1,3
Currency translation adjustments
 
 
 
 
 
 
 
 
Realization of foreign currency translation gains on disposal of foreign operations
 
13

 
—

 
77

 
(Loss)/gain on assets held for sale/sold
 
 
—

 
—

 
—

 
Income tax expense
 
 
13

 
—

 
77

 
Net of tax1
1
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 24, Employee post-retirement benefits, for additional information.
3
Amounts reclassified from AOCI on cash flow hedges and equity investments are net of non-controlling interest gains of nil (2018 – $5 million; 2017 – nil) and nil (2018 – $2 million; 2017 – nil), respectively.