Accumulated Other Comprehensive Loss

3 Months Ended

Mar. 31, 2016

Accumulated Other Comprehensive Loss

Accumulated Other Comprehensive Loss

12.Accumulated Other Comprehensive Loss

A summary of accumulated other comprehensive loss for three months ended March 31, 2016 and 2015 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, 2015	$	(1,025)	$	(29)	$	(47)	$	(1)	$	(1,102)
Losses on cash-flow hedges, net of income tax effect of $6				(11)						(11)
Amount of losses on cash-flow hedges reclassified to earnings, net of income tax effect of $3				7						7
Currency translation adjustment		39								39
Balance, March 31,  2016	$	(986)	$	(33)	$	(47)	$	(1)	$	(1,067)

			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 other 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)

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

	Amount
	Reclassified from
	AOCI
	Three Months Ended				Affected Line Item in
Details about AOCI Components	March 31,				Condensed Consolidated
(in millions)	2016		2015		Statements of Income
Losses on cash-flow hedges:
Commodity and foreign currency contracts	$	(10)	$	(13)	Cost of sales
Interest rate contracts		—		(1)	Financing costs, net
Total before-tax reclassifications	$	(10)	$	(14)
Income tax benefit		3		4
Total after-tax reclassifications	$	(7)	$	(10)