Accumulated Other Comprehensive (Loss) Income

9 Months Ended

Jun. 30, 2015

Equity [Abstract]

Accumulated Other Comprehensive (Loss) Income

Note 3 – Accumulated Other Comprehensive (Loss) Income

The components and changes of Accumulated other comprehensive (loss) income for the nine-month period ended June 30, 2015 were as follows:

(Millions of dollars)	Total			Foreign Currency Translation Adjustments			Benefit Plans Adjustments			Unrealized Losses on Cash Flow Hedges
Balance at September 30, 2014	$	(1,001	)	$	(270	)	$	(705	)	$	(26	)
Other comprehensive income before reclassifications, net of taxes		(571	)		(558	)		—			(12	)
Amounts reclassified into income, net of taxes (A)		38			—			33			4
Balance at June 30, 2015	$	(1,535	)	$	(828	)	$	(672	)	$	(34	)

(A) The reclassification amount related to benefit plans for the three months ended June 30, 2015 was $11 million. The reclassification amounts for the three and nine months ended June 30, 2014 were $8 million and $25 million, respectively. The benefit plan-related amounts were not reclassified into income in their entirety and these reclassifications were included in the computation of net periodic benefit plan costs. Additional details are provided in Note 8. The reclassification amount related to cash flow hedges for the three months ended June 30, 2015 was $2 million. The reclassification amounts for the three and nine months ended June 30, 2014 were $1 million and $4 million, respectively. The cash flow hedge-related reclassification amounts for the three and nine months ended June 30, 2015 and 2014 were primarily recorded in Interest expense and additional details are provided in Note 12.

The loss in foreign currency translation adjustments for the nine months ended June 30, 2015 was primarily attributable to the weakening of the Euro, and of currencies in Latin America and Asia Pacific, against the U.S. dollar during the period.

The income tax benefits associated with the benefit plan-related reclassification adjustments for amortization of prior service credit and amortization of net actuarial losses for the three months ended June 30, 2015 and 2014 were $6 million and $4 million, respectively. The income tax benefits associated with the benefit plan-related reclassification adjustments for amortization of prior service credit and amortization of net actuarial losses for the nine months ended June 30, 2015 and 2014 were $17 million and $13 million, respectively.

The income tax benefits recorded for losses recognized in other comprehensive income relating to cash flow hedges for the three and nine months ended June 30, 2015 were $2 million and $8 million, respectively. Additional disclosures regarding these losses are provided in Note 12. There were no amounts recognized in other comprehensive income relating to cash flow hedges for the three months or nine months ended June 30, 2014. The income taxes recorded for reclassification adjustments for realized amounts relating to cash flow hedges were immaterial for the three and nine months ended June 30, 2015 and 2014.