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Accumulated Other Comprehensive Loss (Tables)
3 Months Ended
Mar. 31, 2016
Accumulated Other Comprehensive Loss  
Summary of accumulated other comprehensive loss

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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)

 

 

Schedule of reclassifications from AOCI into net income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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)