Statement of comprehensive income

For the years ended 31 December

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USD millions

2018

2019

Net income before attribution of non-controlling interests

481

769

Other comprehensive income, net of tax:

 

 

Change in net unrealised investment gains/losses

–2 389

3 375

Change in other-than-temporary impairment

–1

2

Change in cash flow hedges

15

–9

Change in foreign currency translation

–408

46

Change in adjustment for pension benefits

–4

–29

Change in credit risk of financial liabilities at fair value option

 

–2

Transactions with non-controlling interests

–259

–56

Other comprehensive income attributable to non-controlling interests

72

341

Total comprehensive income before attribution of non-controlling interests

–2 493

4 437

 

 

 

Interest on contingent capital instruments, net of tax

–41

 

Comprehensive income attributable to non-controlling interests

–91

–383

Total comprehensive income attributable to common shareholders

–2 625

4 054

Reclassification out of accumulated other comprehensive income

For the years ended 31 December

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2018
USD millions

Net unrealised investment gains/losses1

Other-
than- temporary
impair­ment1

Cash flow hedges1

Foreign currency translation1, 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 “Reclassification of Certain Tax Effects from Accumulated Other Comprehensive income“, ASU 2016-16 “Intra-Entity Transfers of Assets Other Than Inventory” and ASU 2016-01 “Recognition and Measurement of Financial Assets and Financial Liabilities”. Please refer to the Annual Report 2018 for more details.

Balance as of 1 January

4 746

–2

–10

–5 548

–820

0

–1 634

Transactions with non-controlling interests

–325

 

1

52

13

 

–259

Impact of Accounting Standards Update4

–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

(XLS:) Download

2019
USD millions

Net unrealised investment gains/losses1

Other-
than- temporary impair­ment1

Cash flow hedges1

Foreign currency translation1, 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 “Reclassification of Certain Tax Effects from Accumulated Other Comprehensive income“, ASU 2016-16 “Intra-Entity Transfers of Assets Other Than Inventory” and ASU 2016-01 “Recognition and Measurement of Financial Assets and Financial Liabilities”. Please refer to the Annual Report 2018 for more details.

Balance as of 1 January

1 905

–3

6

–5 904

–828

5

–4 819

Transactions with non-controlling interests

–128

 

1

64

7

 

–56

Change during the period

5 668

 

–57

 

–93

–2

5 516

Amounts reclassified out of accumulated other comprehensive income

–1 491

 

48

135

46

 

–1 262

Tax

–802

2

 

–89

18

 

–871

Balance as of period end

5 152

–1

–2

–5 794

–850

3

–1 492

The accompanying notes are an integral part of Group financial statements.