Accumulated Other Comprehensive Loss

9 Months Ended

Sep. 30, 2015

Accumulated Other Comprehensive Loss

Accumulated Other Comprehensive Loss

13.Accumulated Other Comprehensive Loss

A summary of accumulated other comprehensive loss for the nine months ended September 30, 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 $8				(18		)							(18		)
Amount of losses on cash-flow hedges reclassified to earnings, net of income tax effect of $10				23									23
Actuarial gains on pension and postretirement obligations, settlements and plan amendments, net of income tax effect of $2							6						6
Losses related to pension and other postretirement obligations reclassified to earnings, net of income tax effect							1						1
Currency translation adjustment	(283		)										(283		)
Balance, September 30, 2015	$	(984	)	$	(14	)	$	(54	)	$	(1	)	$	(1,053	)

				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	)
Losses on cash-flow hedges, net of income tax effect of $21				(47		)							(47		)
Amount of losses on cash-flow hedges reclassified to earnings, net of income tax effect of $11				24									24
Losses related to pension and other postretirement obligations reclassified to earnings, net of income tax effect							3						3
Currency translation adjustment	(116		)										(116		)
Balance, September 30, 2014	$	(605	)	$	(63	)	$	(50	)	$	(1	)	$	(719	)

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

	Amount Reclassified from AOCI
	Three Months ended						Nine Months ended						Affected Line Item in
Details about AOCI Components	September 30,						September 30,						Condensed Consolidated
(in millions)	2015			2014			2015			2014			Statements of Income
Gains (losses) on cash-flow hedges:
Commodity and foreign currency contracts	$	(9	)	$	(15	)	$	(31	)	$	(33	)	Cost of sales
Interest rate contracts	(1		)	(1		)	(2		)	(2		)	Financing costs, net
Losses related to pension and other postretirement obligations	—			(1		)	(1		)	(4		)	(a)
Total before tax reclassifications	$	(10	)	$	(17	)	$	(34	)	$	(39	)
Income tax benefit	3			5			10			12
Total after-tax reclassifications	$	(7	)	$	(12	)	$	(24	)	$	(27	)

(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.