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UNAUDITED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]        
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, before Tax $ 10   $ 11 $ (1)
Other comprehensive (loss) income, net of tax        
Net income [1] 979 $ 978 1,744 1,585
Foreign currency translation adjustments, net of tax benefits (charges) of $15, ($36), $7 and ($20), respectively (2) [2] (16) (129) (28) (68)
Net unrealized (losses) gains on debt securities, net of tax benefits (charges) of $15, ($1), ($36) and $1, respectively (1) (45) (5) 114 (5)
Comprehensive income $ 918 $ 844 $ 1,830 $ 1,512
[1] The Company reclassified from accumulated other comprehensive income net gains of $10 million ($9 million, net of tax) and $11 million ($10 million, net of tax) for the three and six months ended June 30, 2019, respectively, and a net loss of $1 million ($1 million, net of tax) for the six months ended June 30, 2018 from sales of investments in debt securities. The reclassified net gains (losses) are included in "Foreign currency transactions and other" in the Unaudited Consolidated Statements of Operations.
[2] Foreign currency translation adjustments result from currency fluctuations on the translation of the Company's non-U.S. Dollar functional currency subsidiaries' net assets, net of the impact of net investment hedges.

The Company recorded tax benefits of $4 million and $15 million for the three and six months ended June 30, 2019, respectively, and tax benefits of $21 million and $11 million for the three and six months ended June 30, 2018, respectively, related to foreign currency translation adjustments to its one-time deemed repatriation tax liability recorded at December 31, 2017 and foreign earnings for periods after December 31, 2017 that are subject to U.S. federal and state income tax, resulting from the introduction of the U.S. Tax Cuts and Jobs Act (the "Tax Act").

Foreign currency translation adjustments also include a tax benefit of $11 million and a tax charge of $8 million for the three and six months ended June 30, 2019, respectively, and tax charges of $57 million and $31 million for the three and six months ended June 30, 2018, respectively, associated with the Company's Euro-denominated debt that is designated as a net investment hedge against the impact of currency fluctuations on the net assets of a Euro functional currency subsidiary (see Note 9).