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Changes in Accumulated Other Comprehensive (Loss) Income | 12 Months Ended
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Dec. 31, 2017
Disclosure Text Block Abstract |
Changes in Accumulated Other Comprehensive (Loss) Income | NOTE 18 Changes in Accumulated Other Comprehensive Income AOCI is a balance sheet item in the Shareholders’ Equity section of the Company’s Consolidated Balance Sheets. It is comprised of items that have not been recognized in earnings but may be recognized in earnings in the future when certain events occur. Changes in each component for the three years ended December 31 were as follows:
(Millions), net of tax |  | Net Unrealized Gains (Losses) on Investment Securities |  | Foreign Currency Translation Adjustments |  | Net Unrealized Pension and Other Postretirement Benefit Gains (Losses) |  | Accumulated Other Comprehensive (Loss) Income
Balances as of December 31, 2014 |  | $ | 96 |  | $ | (1,499) |  | $ | (516) |  | $ | (1,919)
Net unrealized losses |  |  | (37) |  |  | ― |  |  | ― |  |  | (37)
Decrease due to amounts reclassified into earnings |  |  | (1) |  |  | (1) |  |  | ― |  |  | (2)
Net translation loss of investments in foreign operations |  |  | ― |  |  | (1,122) |  |  | ― |  |  | (1,122)
Net gains related to hedges of investments in foreign operations |  |  | ― |  |  | 578 |  |  | ― |  |  | 578
Pension and other postretirement benefit |  |  | ― |  |  | ― |  |  | (32) |  |  | (32)
Net change in accumulated other comprehensive loss |  |  | (38) |  |  | (545) |  |  | (32) |  |  | (615)
Balances as of December 31, 2015 |  |  | 58 |  |  | (2,044) |  |  | (548) |  |  | (2,534)
Net unrealized losses |  |  | (45) |  |  | ― |  |  | ― |  |  | (45)
(Decrease) increase due to amounts reclassified into earnings |  |  | (6) |  |  | 4 |  |  | ― |  |  | (2)
Net translation loss of investments in foreign operations |  |  | ― |  |  | (503) |  |  | ― |  |  | (503)
Net gains related to hedges of investment in foreign operations |  |  | ― |  |  | 281 |  |  | ― |  |  | 281
Pension and other postretirement benefit |  |  | ― |  |  | ― |  |  | 19 |  |  | 19
Net change in accumulated other comprehensive (loss) income |  |  | (51) |  |  | (218) |  |  | 19 |  |  | (250)
Balances as of December 31, 2016 |  |  | 7 |  |  | (2,262) |  |  | (529) |  |  | (2,784)
Net unrealized losses |  |  | (7) |  |  | ― |  |  | ― |  |  | (7)
Decrease due to amounts reclassified into earnings |  |  | ― |  |  | (7) |  |  | ― |  |  | (7)
Net translation gain of investments in foreign operations(a) |  |  | ― |  |  | 678 |  |  | ― |  |  | 678
Net losses related to hedges of investment in foreign operations |  |  | ― |  |  | (370) |  |  | ― |  |  | (370)
Pension and other postretirement benefit |  |  | ― |  |  | ― |  |  | 62 |  |  | 62
Net change in accumulated other comprehensive (loss) income |  |  | (7) |  |  | 301 |  |  | 62 |  |  | 356
Balances as of December 31, 2017 |  | $ | ― |  | $ | (1,961) |  | $ | (467) |  | $ | (2,428)
Includes $289 million of recognized tax benefits in the year ended December 31, 2017 (refer to Note 21). The following table shows the tax impact for the years ended December 31 for the changes in each component of AOCI presented above:
|  |  | Tax expense (benefit)
(Millions) |  | 2017 |  | 2016 |  | 2015
Investment securities |  | $ | (4) |  | $ | (27) |  | $ | (20)
Foreign currency translation adjustments(a) |  |  | (172) |  |  | (15) |  |  | (124)
Net investment hedges |  |  | (215) |  |  | 139 |  |  | 340
Pension and other postretirement benefit |  |  | 7 |  |  | 37 |  |  | ―
Total tax impact |  | $ | (384) |  | $ | 134 |  | $ | 196
(a) Includes $289 mi llion of recognized tax benefits in the year ended December 31, 2017 (r efer to Note 21). The following table presents the effects of reclassifications out of AOCI and into the Consolidated Statements of Income for the years ended December 31:
|  |  |  |  |  | Gains (losses) recognized in earnings
Description (Millions) |  | Income Statement Line Item |  |  | 2017 |  |  | 2016
Available-for-sale securities |  |  |  |  |  |  |  |
| Reclassifications for previously unrealized net gains on investment securities |  | Other non-interest revenues |  | $ | ― |  | $ | 9
| Related income tax expense |  | Income tax provision |  |  | ― |  |  | (3)
| Reclassification to net income related to available-for-sale securities |  |  |  |  | ― |  |  | 6
Foreign currency translation adjustments |  |  |  |  |  |  |  |
| Reclassification of realized losses on translation adjustments and related net investment hedges |  | Other expenses |  |  | (7) |  |  | (4)
| Related income tax benefit |  | Income tax provision |  |  | 14 |  |  | ―
| Reclassification to net income related to foreign currency translation adjustments |  |  |  |  | 7 |  |  | (4)
Total |  |  |  | $ | 7 |  | $ | 2

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- Definition The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -URI http://asc.fasb.org/topic&trid=2134417 + Details
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