| COMPONENTS OF ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS) |
COMPONENTS OF ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS) Changes in AOCI attributable to our common shareholders for the years ended December 31, 2024, 2023 and 2022 are as follows:
| | | | | | | | | | | | | | | | | | | | | | | | | Cash Flow Hedges | Excluded Components of Fair Value Hedges | Net Investment Hedges | Cumulative Translation Adjustment | Equity Investees | Pension and OPEB Adjustment | Total | | (millions of Canadian dollars) | | | | | | | | | Balance as at January 1, 2024 | 320 | | (23) | | (728) | | 2,653 | | 11 | | 70 | | 2,303 | | | Other comprehensive income/(loss) retained in AOCI | 79 | | (42) | | (1,305) | | 5,799 | | (9) | | 323 | | 4,845 | | | Other comprehensive (income)/loss reclassified to earnings | | | | | | | | Interest rate contracts1 | 31 | | — | | — | | — | | — | | — | | 31 | | Commodity contracts2 | (1) | | — | | — | | — | | — | | — | | (1) | | Foreign exchange contracts3 | — | | 53 | | — | | — | | — | | — | | 53 | | | | | | | | | | | | | | | | | | Amortization of pension and OPEB actuarial gain4 | — | | — | | — | | — | | — | | (21) | | (21) | | | | | | | | | | | | 109 | | 11 | | (1,305) | | 5,799 | | (9) | | 302 | | 4,907 | | | Tax impact | | | | | | | | | Income tax on amounts retained in AOCI | (15) | | 10 | | — | | — | | (1) | | (75) | | (81) | | | Income tax on amounts reclassified to earnings | (7) | | (12) | | — | | — | | — | | 5 | | (14) | | | | (22) | | (2) | | — | | — | | (1) | | (70) | | (95) | | | Balance as at December 31, 2024 | 407 | | (14) | | (2,033) | | 8,452 | | 1 | | 302 | | 7,115 | |
| | | | | | | | | | | | | | | | | | | | | | | | | Cash Flow Hedges | Excluded Components of Fair Value Hedges | Net Investment Hedges | Cumulative Translation Adjustment | Equity Investees | Pension and OPEB Adjustment | Total | | (millions of Canadian dollars) | | | | | | | | | Balance as at January 1, 2023 | 121 | | (35) | | (1,137) | | 4,348 | | 5 | | 218 | | 3,520 | | Other comprehensive income/(loss) retained in AOCI | 232 | | 62 | | 409 | | (1,695) | | 6 | | (158) | | (1,144) | | | Other comprehensive (income)/loss reclassified to earnings | | | | | | | | Interest rate contracts1 | 28 | | — | | — | | — | | — | | — | | 28 | | | | | | | | | | Foreign exchange contracts3 | — | | (47) | | — | | — | | — | | — | | (47) | | | | | | | | | | | | | | | | | | Amortization of pension and OPEB actuarial gain4 | — | | — | | — | | — | | — | | (24) | | (24) | | | | | | | | | | | 260 | | 15 | | 409 | | (1,695) | | 6 | | (182) | | (1,187) | | | Tax impact | | | | | | | | | Income tax on amounts retained in AOCI | (47) | | (14) | | — | | — | | — | | 28 | | (33) | | | Income tax on amounts reclassified to earnings | (14) | | 11 | | — | | — | | — | | 6 | | 3 | | | (61) | | (3) | | — | | — | | — | | 34 | | (30) | | | Balance as at December 31, 2023 | 320 | | (23) | | (728) | | 2,653 | | 11 | | 70 | | 2,303 | |
| | | | | | | | | | | | | | | | | | | | | | | | | Cash Flow Hedges | Excluded Components of Fair Value Hedges | Net Investment Hedges | Cumulative Translation Adjustment | Equity Investees | Pension and OPEB Adjustment | Total | | (millions of Canadian dollars) | | | | | | | | | Balance as at January 1, 2022 | (897) | | — | | (166) | | 56 | | (5) | | (84) | | (1,096) | | Other comprehensive income/(loss) retained in AOCI | 1,125 | | (35) | | (971) | | 4,292 | | (6) | | 411 | | 4,816 | | | Other comprehensive (income)/loss reclassified to earnings | | | | | | | | Interest rate contracts1 | 186 | | — | | — | | — | | — | | — | | 186 | | | | | | | | | | Foreign exchange contracts3 | (4) | | — | | — | | — | | — | | — | | (4) | | Other contracts5 | 4 | | — | | — | | — | | — | | — | | 4 | | | | | | | | | | Amortization of pension and OPEB actuarial gain4 | — | | — | | — | | — | | — | | (14) | | (14) | | | Other | — | | — | | — | | — | | 16 | | — | | 16 | | | 1,311 | | (35) | | (971) | | 4,292 | | 10 | | 397 | | 5,004 | | | Tax impact | | | | | | | | | Income tax on amounts retained in AOCI | (250) | | — | | — | | — | | — | | (99) | | (349) | | | Income tax on amounts reclassified to earnings | (43) | | — | | — | | — | | — | | 4 | | (39) | | | (293) | | — | | — | | — | | — | | (95) | | (388) | | | Balance as at December 31, 2022 | 121 | | (35) | | (1,137) | | 4,348 | | 5 | | 218 | | 3,520 | |
1Reported within Interest expense in the Consolidated Statements of Earnings. 2Reported within Transportation and other services revenues in the Consolidated Statements of Earnings. 3Reported within Interest expense and Other income/(expense) in the Consolidated Statements of Earnings. 4These components are included in the computation of net periodic benefit credit and are reported within Other income/(expense) in the Consolidated Statements of Earnings. 5Reported within Operating and administrative expense in the Consolidated Statements of Earnings.
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