(23) Changes In Accumulated Other Comprehensive Income (Loss)
The following tables show the changes in accumulated OCI, net of taxes, by component as of and for the periods indicated:
|
(Amounts in millions) |
Net unrealized investment gains (losses) (1) |
Derivatives qualifying as hedges (2) |
Foreign currency translation and other adjustments |
Total | ||||||||||||
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Balances as of January 1, 2013 |
$ | 2,638 | $ | 1,909 | $ | 655 | $ | 5,202 | ||||||||
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OCI before reclassifications |
(1,772 | ) | (561 | ) | (442 | ) | (2,775 | ) | ||||||||
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Amounts reclassified from OCI |
21 | (29 | ) | — | (8 | ) | ||||||||||
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Current period OCI |
(1,751 | ) | (590 | ) | (442 | ) | (2,783 | ) | ||||||||
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Balances as of December 31, 2013 before noncontrolling interests |
887 | 1,319 | 213 | 2,419 | ||||||||||||
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Less: change in OCI attributable to noncontrolling interests |
(39 | ) | — | (84 | ) | (123 | ) | |||||||||
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Balances as of December 31, 2013 |
$ | 926 | $ | 1,319 | $ | 297 | $ | 2,542 | ||||||||
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| (1) |
Net of adjustments to deferred acquisition costs, present value of future profits, sales inducements and benefit reserves. See note 4 for additional information. |
| (2) |
See note 5 for additional information. |
|
(Amounts in millions) |
Net unrealized investment gains (losses) (1) |
Derivatives qualifying as hedges (2) |
Foreign currency translation and other adjustments |
Total | ||||||||||||
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Balances as of January 1, 2012 |
$ | 1,485 | $ | 2,009 | $ | 553 | $ | 4,047 | ||||||||
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OCI before reclassifications |
1,106 | (77 | ) | 126 | 1,155 | |||||||||||
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Amounts reclassified from OCI |
50 | (23 | ) | — | 27 | |||||||||||
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Current period OCI |
1,156 | (100 | ) | 126 | 1,182 | |||||||||||
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Balances as of December 31, 2012 before noncontrolling interests |
2,641 | 1,909 | 679 | 5,229 | ||||||||||||
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Less: change in OCI attributable to noncontrolling interests |
3 | — | 24 | 27 | ||||||||||||
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Balances as of December 31, 2012 |
$ | 2,638 | $ | 1,909 | $ | 655 | $ | 5,202 | ||||||||
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| (1) |
Net of adjustments to deferred acquisition costs, present value of future profits, sales inducements and benefit reserves. See note 4 for additional information. |
| (2) |
See note 5 for additional information. |
|
(Amounts in millions) |
Net unrealized investment gains (losses) (1) |
Derivatives qualifying as hedges (2) |
Foreign currency translation and other adjustments |
Total | ||||||||||||
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Balances as of January 1, 2011 |
$ | (80 | ) | $ | 924 | $ | 662 | $ | 1,506 | |||||||
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OCI before reclassifications |
1,551 | 1,086 | (135 | ) | 2,502 | |||||||||||
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Amounts reclassified from OCI |
53 | (1 | ) | — | 52 | |||||||||||
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Current period OCI |
1,604 | 1,085 | (135 | ) | 2,554 | |||||||||||
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Balances as of December 31, 2011 before noncontrolling interests |
1,524 | 2,009 | 527 | 4,060 | ||||||||||||
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Less: change in OCI attributable to noncontrolling interests |
39 | — | (26 | ) | 13 | |||||||||||
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Balances as of December 31, 2011 |
$ | 1,485 | $ | 2,009 | $ | 553 | $ | 4,047 | ||||||||
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| (1) |
Net of adjustments to deferred acquisition costs, present value of future profits, sales inducements and benefit reserves. See note 4 for additional information. |
| (2) |
See note 5 for additional information. |
The foreign currency translation and other adjustments balance included $6 million, $26 million and $19 million, respectively, net of taxes of $1 million, $15 million and $11 million, respectively, related to a net unrecognized postretirement benefit obligation as of December 31, 2013, 2012 and 2011. Amount also included taxes of $39 million, $58 million and $48 million, respectively, related to foreign currency translation adjustments as of December 31, 2013, 2012 and 2011.
The following table shows reclassifications out of accumulated other comprehensive income (loss), net of taxes, for the periods presented:
| Amount reclassified from accumulated other comprehensive income |
Affected
line item in the |
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| Years
ended December 31, |
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(Amounts in millions) |
2013 | 2012 | 2011 | |||||||||||
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Net unrealized investment (gains) losses: |
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Unrealized (gains) losses on investments (1) |
$ | 33 | $ | 77 | $ | 82 | Net investment gains (losses) | |||||||
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Provision for income taxes |
(12 | ) | (27 | ) | (29 | ) | Provision for income taxes | |||||||
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Total |
$ | 21 | $ | 50 | $ | 53 | ||||||||
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Derivatives qualifying as hedges: |
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Interest rate swaps hedging assets |
$ | (47 | ) | $ | (40 | ) | $ | (27 | ) | Net investment income | ||||
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Interest rate swaps hedging assets |
(1 | ) | (2 | ) | (2 | ) | Net investment gains (losses) | |||||||
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Interest rate swaps hedging liabilities |
(2 | ) | (2 | ) | (2 | ) | Interest expense | |||||||
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Inflation indexed swaps |
5 | 9 | 25 | Net investment income | ||||||||||
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Foreign currency swaps |
— | — | 5 | Interest expense | ||||||||||
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Provision for income taxes |
16 | 12 | — | Provision for income taxes | ||||||||||
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Total |
$ | (29 | ) | $ | (23 | ) | $ | (1 | ) | |||||
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| (1) |
Amounts exclude adjustments to deferred acquisition costs, present value of future profits, sales inducements and benefit reserves. |