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Accumulated Other Comprehensive Income
 6 Months Ended
Jul. 01, 2018
Equity [Abstract]  
Accumulated Other Comprehensive Income
ACCUMULATED OTHER COMPREHENSIVE INCOME

Components of other comprehensive income (loss) consist of the following:
 
 
 
 
 
 
 
 
 
 
 
 
 
Foreign
 
Gain/(Loss)
 
Employee
 
Gain/(Loss)
 
Total Accumulated
 
 
Currency
 
On
 
Benefit
 
On Derivatives
 
Other Comprehensive
(Dollars in Millions)
 
Translation
 
Securities
 
Plans
 
& Hedges
 
Income (Loss)
December 31, 2017
 
$
(7,351
)
 
232

 
(6,150
)
 
70

 
(13,199
)
Net change
 
(1,567
)
 
—

 
371

 
(150
)
 
(1,346
)
Cumulative adjustment to retained earnings
 
 
 
(232
)
(1) 
 
 
 
 
(232
)
July 1, 2018
 
$
(8,918
)
 
—

 
(5,779
)
 
(80
)
 
(14,777
)

(1) See Note 1 to the Consolidated Financial Statements for additional details on the adoption of ASU 2016-01

Amounts in accumulated other comprehensive income are presented net of the related tax impact. Foreign currency translation is not adjusted for income taxes where it relates to permanent investments in international subsidiaries. For additional details on comprehensive income see the Consolidated Statements of Comprehensive Income.

Details on reclassifications out of Accumulated Other Comprehensive Income:
Gain/(Loss) On Securities - reclassifications released to Other (income) expense, net.
Employee Benefit Plans - reclassifications are included in net periodic benefit cost. See Note 6 for additional details.
Gain/(Loss) On Derivatives & Hedges - reclassifications to earnings are recorded in the same account as the underlying transaction. See Note 4 for additional details.