American Express 2007 Annual Report Download - page 90

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
AMERICAN EXPRESS COMPANY
NOTE 7 CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
Changes in each component of accumulated other comprehensive income (loss) for the three years ended December 31, were as
follows:
Three Years Ended December 31,
(Millions), net of tax(a)
Net Unrealized
Gains (Losses)
on Securities
Net
Unrealized
Gains
(Losses)
on
Derivatives
Foreign
Currency
Translation
Adjustments
Net
Unrealized
Pension
and Other
Postretirement
Benefit Costs
Minimum
Pension
Liability
Adjustment
Accumulated
Other
Comprehensive
Income (Loss)
Balances at December 31, 2004 $ 760 $ (142) $ (344) $ — $(16) $ 258
Investment Securities
Net unrealized securities losses (158) (158)
Reclassification for net realized gains (7) (7)
Other losses(b) (10) (10)
Derivatives
Net unrealized gains on cash flow hedges 300 300
Cash flow hedge gains reclassified to earnings (44) (44)
Foreign currency translation adjustments
Translation losses (64) (64)
Net losses related to hedges of investment in foreign
operations (6) (6)
Pension and other postretirement benefit costs
Minimum pension liability adjustment (2) (2)
Discontinued operations(c) (432) 19 (11) (424)
Net change in accumulated other comprehensive
income (loss), excluding the spin-off of Ameriprise (607) 275 (81) (2) (415)
Spin-off of Ameriprise(d) (16) 10 25 (1) 18
Net change in accumulated other comprehensive income
(loss) (623) 285 (56) — (3) (397)
Balances at December 31, 2005 137 143 (400) — (19) (139)
Investment Securities
Net unrealized securities gains 11 11
Reclassification for net realized gains (54) (54)
Other gains(b) 44 44
Derivatives
Net unrealized gains on cash flow hedges 42 42
Cash flow hedge gains reclassified to earnings (158) (158)
Foreign currency translation adjustments
Reclassification to earnings due to sale of foreign entities 110 110
Translation gains 215 215
Net losses related to hedges of investment in foreign
operations (221) (221)
Pension and other postretirement benefit costs
Adjustment to initially apply SFAS No. 158 (415) 19 (396)
Discontinued operations(c) (46) 74 (2) 26
Net change in accumulated other comprehensive
income (loss) (45) (116) 178 (417) 19 (381)
88