H. Accumulated Other Comprehensive Income (Loss)
Comprehensive income combines net income (loss) and other comprehensive income items, which are reported as components of stockholders’ equity in the accompanying Consolidated Balance Sheets.
Changes in each component of AOCI, net of tax, were as follows:
|
|
|
Currency
Translation
Adjustment |
|
|
Unrealized
Gains on
Investments |
|
|
Pension and Other
Postretirement
Benefit Liability
Adjustments |
|
|
Total |
|
|
|
|
(In millions) |
|
|
Balance at September 30, 2017, attributable to Cabot Corporation |
|
$ |
(204 |
) |
|
$ |
2 |
|
|
$ |
(57 |
) |
|
$ |
(259 |
) |
|
Other comprehensive income (loss) before reclassifications |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
Amounts reclassified from AOCI |
|
|
(1 |
) |
|
|
— |
|
|
|
— |
|
|
|
(1 |
) |
|
Less: Other comprehensive income (loss) attributable to
noncontrolling interests |
|
|
3 |
|
|
|
— |
|
|
|
— |
|
|
|
3 |
|
|
Balance at December 31, 2017, attributable to Cabot Corporation |
|
|
(208 |
) |
|
|
2 |
|
|
|
(57 |
) |
|
|
(263 |
) |
|
Other comprehensive income (loss) before reclassifications |
|
|
59 |
|
|
|
— |
|
|
|
— |
|
|
|
59 |
|
|
Amounts reclassified from AOCI |
|
|
(1 |
) |
|
|
— |
|
|
|
— |
|
|
|
(1 |
) |
|
Less: Other comprehensive income (loss) attributable to
noncontrolling interests |
|
|
4 |
|
|
|
— |
|
|
|
— |
|
|
|
4 |
|
|
Balance at March 31, 2018, attributable to Cabot Corporation |
|
|
(154 |
) |
|
|
2 |
|
|
|
(57 |
) |
|
|
(209 |
) |
|
Other comprehensive income (loss) before reclassifications |
|
|
(109 |
) |
|
|
(1 |
) |
|
|
— |
|
|
|
(110 |
) |
|
Amounts reclassified from AOCI |
|
|
(1 |
) |
|
|
— |
|
|
|
— |
|
|
|
(1 |
) |
|
Less: Other comprehensive income (loss) attributable to
noncontrolling interests |
|
|
(7 |
) |
|
|
— |
|
|
|
— |
|
|
|
(7 |
) |
|
Balance at June 30, 2018, attributable to Cabot Corporation |
|
$ |
(257 |
) |
|
$ |
1 |
|
|
$ |
(57 |
) |
|
$ |
(313 |
) |
The amounts reclassified out of AOCI and into the Consolidated Statements of Operations in the three and nine months ended June 30, 2018 and 2017 were as follows:
|
|
|
Affected Line Item in the Consolidated |
|
Three Months Ended June 30 |
|
|
Nine Months Ended June 30 |
|
|
|
|
Statements of Operations |
|
2018 |
|
|
2017 |
|
|
2018 |
|
|
2017 |
|
|
|
|
|
|
(In millions) |
|
|
Derivatives: net investment hedges |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Gains) losses reclassified to interest
expense |
|
Interest expense |
|
$ |
(2 |
) |
|
$ |
— |
|
|
$ |
(4 |
) |
|
$ |
— |
|
|
Pension and other postretirement
benefit liability adjustment |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortization of actuarial losses |
|
Net Periodic Benefit Cost - see
Note D for details |
|
|
1 |
|
|
|
1 |
|
|
|
2 |
|
|
|
4 |
|
|
Amortization of prior service credit |
|
Net Periodic Benefit Cost - see
Note D for details |
|
|
(1 |
) |
|
|
(1 |
) |
|
|
(2 |
) |
|
|
(2 |
) |
|
Total before tax |
|
|
|
|
(2 |
) |
|
|
— |
|
|
|
(4 |
) |
|
|
2 |
|
|
Tax impact |
|
Provision (benefit) for income
taxes |
|
|
1 |
|
|
|
— |
|
|
|
1 |
|
|
|
— |
|
|
Total after tax |
|
|
|
$ |
(1 |
) |
|
$ |
— |
|
|
$ |
(3 |
) |
|
$ |
2 |
|
|