Accumulated Other Comprehensive Loss

3 Months Ended

Mar. 31, 2015

Accumulated Other Comprehensive Loss

Accumulated Other Comprehensive Loss

11.Accumulated Other Comprehensive Loss

A summary of accumulated other comprehensive loss for the three months ended March 31, 2015 and 2014 is provided below:

				Deferred						Unrealized			Accumulated
	Cumulative			Gain/(Loss)			Pension/			Loss			Other
	Translation			on Hedging			Postretirement			on			Comprehensive
(in millions)	Adjustment			Activities			Adjustment			Investment			Loss
Balance, December 31, 2014	$	(701	)	$	(19	)	$	(61	)	$	(1	)	$	(782	)
Losses on cash-flow hedges, net of income tax effect of $6				(14		)							(14		)
Amount of losses on cash-flow hedges reclassified to earnings, net of income tax effect of $4				10									10
Actuarial gains on pension and postretirement obligations, settlements and plan amendments, net of income tax effect of $2							7						7
Currency translation adjustment	(146		)										(146		)
Balance, March 31, 2015	$	(847	)	$	(23	)	$	(54	)	$	(1	)	$	(925	)

				Deferred						Unrealized			Accumulated
	Cumulative			Gain/(Loss)			Pension/			Loss			Other
	Translation			on Hedging			Postretirement			on			Comprehensive
(in millions)	Adjustment			Activities			Adjustment			Investment			Loss
Balance, December 31, 2013	$	(489	)	$	(40	)	$	(53	)	$	(1	)	$	(583	)
Gains on cash-flow hedges, net of income tax effect of $13				26									26
Amount of losses on cash-flow hedges reclassified to earnings, net of income tax effect of $6				13									13
Losses related to pension and other postretirement obligations reclassified to earnings, net of income tax effect							1						1
Currency translation adjustment	(32		)										(32		)
Balance, March 31, 2014	$	(521	)	$	(1	)	$	(52	)	$	(1	)	$	(575	)

The following table provides detail pertaining to reclassifications from AOCI into net income for the periods presented:

	Amount Reclassified from AOCI
Details about AOCI Components	Three Months ended March 31,				Affected Line Item in Condensed Consolidated
(in millions)	2015		2014		Statements of Income
Losses on cash-flow hedges:
Commodity and foreign currency contracts	(13	)	(18	)	Cost of sales
Interest rate contracts	(1	)	(1	)	Financing costs, net
Losses related to pension and other postretirement obligations	—		(1	)	(a)
Total before tax reclassifications	(14	)	(20	)
Income tax benefit	4		6
Total after-tax reclassifications	(10	)	(14	)

(a) This component is included in the computation of net periodic benefit cost and affects both cost of sales and operating expenses on the Condensed Consolidated Statements of Income.