Accumulated Other Comprehensive Loss and Other Comprehensive Income

3 Months Ended

Mar. 30, 2013

Accumulated Other Comprehensive Loss and Other Comprehensive Income

Accumulated Other Comprehensive Loss and Other Comprehensive Income

Note 9.  Accumulated Other Comprehensive Loss and Other Comprehensive Income

The components of Accumulated Other Comprehensive Loss are presented below:

(In millions)	Foreign Currency Translation Adjustment			Pension Adjustments			Deferred Gains/Losses on Hedge Contracts			Accumulated Other Comprehensive Loss
For the three months ended March 30, 2013
Beginning balance	$	81		$	(1,857	)	$	6		$	(1,770	)
Other comprehensive income before reclassifications	(10		)	—			(5		)	(15		)
Amounts reclassified from Accumulated Other Comprehensive Loss	—			32			(2		)	30
Other comprehensive income	(10		)	32			(7		)	15
Ending balance	$	71		$	(1,825	)	$	(1	)	$	(1,755	)
For the three months ended March 31, 2012
Beginning balance	$	79		$	(1,711	)	$	7		$	(1,625	)
Other comprehensive income before reclassifications	3			—			6			9
Amounts reclassified from Accumulated Other Comprehensive Loss	—			21			(6		)	15
Other comprehensive income	3			21			—			24
Ending balance	$	82		$	(1,690	)	$	7		$	(1,601	)

The before and after-tax components of Other Comprehensive Income are presented below:

(In millions)	Pre-Tax Amount			Tax (Expense) Benefit			After-Tax Amount
For the three months ended March 30, 2013
Pension adjustments:
Amortization of net actuarial loss*	$	48		$	(17	)	$	31
Amortization of prior service cost*	1			—			1
Pension adjustments, net	49			(17		)	32
Deferred gains/losses on hedge contracts:
Current deferrals	(6		)	1			(5		)
Reclassification adjustments	(2		)	—			(2		)
Deferred gains/losses on hedge contracts, net	(8		)	1			(7		)
Foreign currency translation adjustment	(2		)	(8		)	(10		)
Total	$	39		$	(24	)	$	15
For the three months ended March 31, 2012
Pension adjustments:
Amortization of net actuarial loss*	$	31		$	(11	)	$	20
Amortization of prior service cost*	1			—			1
Pension adjustments, net	32			(11		)	21
Deferred gains/losses on hedge contracts:
Current deferrals	8			(2		)	6
Reclassification adjustments	(8		)	2			(6		)
Deferred gains/losses on hedge contracts, net	—			—			—
Foreign currency translation adjustment	(3		)	6			3
Total	$	29		$	(5	)	$	24

*These components of other comprehensive income are included in the computation of net periodic pension cost.  See Note 13 of our 2012 Annual Report on Form 10-K for additional information.