Accumulated Other Comprehensive Income (Loss) (AOCI) |
Note F — Accumulated Other Comprehensive Income (Loss) (“AOCI”) The components of AOCI are summarized below: | | | | | | | | | | | | | | | | | | Foreign currency translation(1) | | Net unrealized (losses) gains on hedging derivatives(2) | | Unrecognized postretirement obligations(3) | | Total AOCI | | | | | | | | | | (In millions) | Balance at June 28, 2019 | $ | (106 | ) | | $ | (38 | ) | | $ | (563 | ) | | $ | (707 | ) | Other comprehensive loss | (25 | ) | | (38 | ) | | — |
| | (63 | ) | Amounts reclassified to earnings from AOCI | — |
| | 1 |
| | 13 |
| | 14 |
| Balance at September 27, 2019 | $ | (131 | ) | | $ | (75 | ) | | $ | (550 | ) | | $ | (756 | ) | | | | | | | | | Balance at June 29, 2018 | $ | (99 | ) | | $ | (20 | ) | | $ | (83 | ) | | $ | (202 | ) | Other comprehensive income (loss) | — |
| | 1 |
| | (1 | ) | | — |
| Amounts reclassified to earnings from AOCI | — |
| | — |
| | — |
| | — |
| Balance at September 28, 2018 | $ | (99 | ) | | $ | (19 | ) | | $ | (84 | ) | | $ | (202 | ) |
_______________ | | (1) | Net of income taxes of $2 million at September 27, 2019, June 28, 2019, September 28, 2018 and June 29, 2018. |
| | (2) | Net of income taxes of $24 million, $13 million, $6 million and $7 million at September 27, 2019, June 28, 2019, September 28, 2018 and June 29, 2018, respectively. |
| | (3) | Net of income taxes of $183 million and $188 million at September 27, 2019 and June 28, 2019, respectively, and net of income taxes of $30 million at September 28, 2018 and June 29, 2018. |
Reclassifications from AOCI into earnings for the quarter ended September 27, 2019 are presented in the table below: | | | | | | | | Amounts reclassified from AOCI | | Affected line item in the Condensed Consolidated Statement of Income (Unaudited) | | | | | | (In millions) | | | Loss on hedging instruments | $ | 1 |
| | Engineering, selling and administrative expenses | | $ | 1 |
| | Income from continuing operations | | | | | Postretirement benefit obligations | $ | 13 |
| | Gain on sale of business | | 4 |
| | Non-operating income | | (4 | ) | | Income taxes | | $ | 13 |
| | Income from continuing operations | | | | | Total reclassifications for the period | $ | 14 |
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