Accumulated Other Comprehensive Loss

3 Months Ended

Mar. 31, 2017

Accumulated Other Comprehensive Loss

Accumulated Other Comprehensive Loss

12.         Accumulated Other Comprehensive Loss

A summary of accumulated other comprehensive loss for the three months ended March 31, 2017 and 2016 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, 2016	$	(1,008)	$	(7)	$	(56)	$	—	$	(1,071)
Gains on cash-flow hedges, net of income tax effect of $3				5						5
Amount of losses on cash-flow hedges reclassified to earnings, net of income tax effect of $1				3						3
Currency translation adjustment		40								40
Balance, March 31, 2017	$	(968)	$	1	$	(56)	$	—	$	(1,023)

			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 $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)

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)	2017		2016		Statements of Income
Losses on cash-flow hedges:
Commodity and foreign currency contracts	$	(3)	$	(10)	Gross profit
Interest rate contracts		(1)		—	Financing costs, net
Total before-tax reclassifications	$	(4)	$	(10)
Income tax benefit		1		3
Total after-tax reclassifications	$	(3)	$	(7)