Statement of comprehensive income

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USD millions	2017	2018
Net income before attribution of non-controlling interests	393	481
Other comprehensive income, net of tax:
Change in net unrealised investment gains/losses	287	–2 389
Change in other-than-temporary impairment	3	–1
Change in cash flow hedges	–3	15
Change in foreign currency translation	526	–408
Change in adjustment for pension benefits	315	–4
Impact of sale to non-controlling shareholder		–259
Other comprehensive income attributable to non-controlling interests		72
Total comprehensive income before attribution of non-controlling interests	1 521	–2 493

Interest on contingent capital instruments, net of tax	–67	–41
Comprehensive income attributable to non-controlling interests	5	–91
Total comprehensive income attributable to common shareholders	1 459	–2 625

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2017
USD millions

Net unrealised investment gains/losses¹

Other-than-temporary impairment¹

Cash flow hedges¹

Foreign currency translation^1, 2

Adjustment for pension benefits³

Credit risk of financial liabilities at fair value option

Accumulated other comprehensive income

¹	Reclassification adjustment included in net income is presented in “Net realised investment gains/losses – non-participating business”.
²	Reclassification adjustment is limited to translation gains and losses realised upon sale or upon complete or substantially complete liquidation of an investment in a foreign entity.
³	Reclassification adjustment included in net income is presented in “Operating expenses”.

Balance as of 1 January

4 459

–5

–7

–6 074

–1 135

0

–2 762

Change during the period

2 755

4

30

347

348

3 484

Amounts reclassified out of accumulated other comprehensive income

–2 372

1

–33

–17

43

–2 378

Tax

–96

–2

196

–76

22

Balance as of period end

4 746

–2

–10

–5 548

–820

0

–1 634

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2018
USD millions

Net unrealised investment gains/losses¹

Other-than- temporary impairment¹

Cash flow hedges¹

Foreign currency translation^1, 2

Adjustment for pension benefits³

Credit risk of financial liabilities at fair value option

Accumulated other comprehensive income

¹	Reclassification adjustment included in net income is presented in “Net realised investment gains/losses – non-participating business”.
²	Reclassification adjustment is limited to translation gains and losses realised upon sale or upon complete or substantially complete liquidation of an investment in a foreign entity.
³	Reclassification adjustment included in net income is presented in “Operating expenses”.
⁴	Impact of ASU 2018-02, ASU 2016-16 and ASU 2016-01. Please refer to Note 1 for more details.

Balance as of 1 January

4 746

–2

–10

–5 548

–820

0

–1 634

Impact of sale to non-controlling shareholder

–325

1

52

13

–259

Impact of Accounting Standards Updates⁴

–127

–17

5

–139

Change during the period

–3 129

–1

25

–303

–75

–3 483

Amounts reclassified out of accumulated other comprehensive income

154

–10

8

68

220

Tax

586

–113

3

476

Balance as of period end

1 905

–3

6

–5 904

–828

5

–4 819

Reclassification out of accumulated other comprehensive income