| At | At | ||||
| December 31, | December 31, | ||||
| 2013 | 2012 | ||||
| (dollars in millions) | |||||
| Net investments in non-U.S. dollar functional currency subsidiaries subject to hedges | $ | 11,708 | $ | 13,811 | |
| Cumulative foreign currency translation adjustments resulting from net | |||||
| investments in subsidiaries with a non-U.S. dollar functional currency | $ | (259) | $ | 348 | |
| Cumulative foreign currency translation adjustments resulting from realized | |||||
| or unrealized losses on hedges, net of tax(1) | (7) | (471) | |||
| Total cumulative foreign currency translation adjustments, net of tax | $ | (266) | $ | (123) | |
__________
(1) A gain of $77 million, net of tax, related to net investment hedges was reclassified from other comprehensive income into income during 2012. The amount primarily related to the reversal of amounts recorded in cumulative other comprehensive income due to the incorrect application of hedge accounting on certain derivative contracts (see Note 12 for further information).