Accumulated Other Comprehensive Loss and Other Comprehensive Income

9 Months Ended

Oct. 01, 2016

Accumulated Other Comprehensive Loss and Other Comprehensive Income

Accumulated Other Comprehensive Loss and Other Comprehensive Income

Note 11.  Accumulated Other Comprehensive Loss and Other Comprehensive Income

The components of Accumulated Other Comprehensive Loss are presented below:

(In millions)	Pension and Postretirement Benefits Adjustments		Deferred Gains (Losses) on Hedge Contracts		Foreign Currency Translation Adjustments		Accumulated Other Comprehensive Loss
For the nine months ended October 1, 2016
Beginning of the period	$	(1,327)	$	(24)	$	(47)	$	(1,398)
Other comprehensive income before reclassifications		5		11		8		24
Reclassified from Accumulated other comprehensive loss		47		12		—		59
Other comprehensive income		52		23		8		83
End of the period	$	(1,275)	$	(1)	$	(39)	$	(1,315)
For the nine months ended October 3, 2015
Beginning of the period	$	(1,511)	$	(13)	$	18	$	(1,506)
Other comprehensive income (loss) before reclassifications		62		(22)		(45)		(5)
Reclassified from Accumulated other comprehensive loss		71		13		—		84
Other comprehensive income (loss)		133		(9)		(45)		79
End of the period	$	(1,378)	$	(22)	$	(27)	$	(1,427)

The before and after-tax components of other comprehensive income are presented below:

	October 1, 2016						October 3, 2015
(In millions)	Pre-Tax Amount		Tax (Expense) Benefit		After-Tax Amount		Pre-Tax Amount		Tax (Expense) Benefit		After-Tax Amount
Three Months Ended
Pension and postretirement benefits adjustments:
Amortization of net actuarial loss*	$	26	$	(9)	$	17	$	36	$	(12)	$	24
Amortization of prior service credit		(2)		1		(1)		(2)		—		(2)
Pension and postretirement benefits adjustments, net		24		(8)		16		34		(12)		22
Deferred losses on hedge contracts:
Current deferrals		(3)		—		(3)		(10)		2		(8)
Reclassification adjustments		1		—		1		9		(2)		7
Deferred losses on hedge contracts, net		(2)		—		(2)		(1)		—		(1)
Foreign currency translation adjustments		13		(9)		4		4		(3)		1
Total	$	35	$	(17)	$	18	$	37	$	(15)	$	22
Nine Months Ended
Pension and postretirement benefits adjustments:
Amortization of net actuarial loss*	$	78	$	(28)	$	50	$	114	$	(40)	$	74
Amortization of prior service credit*		(6)		3		(3)		(4)		1		(3)
Unrealized gains		7		(2)		5		98		(36)		62
Pension and postretirement benefits adjustments, net		79		(27)		52		208		(75)		133
Deferred gains (losses) on hedge contracts:
Current deferrals		17		(6)		11		(28)		6		(22)
Reclassification adjustments		16		(4)		12		18		(5)		13
Deferred gains (losses) on hedge contracts, net		33		(10)		23		(10)		1		(9)
Foreign currency translation adjustments		24		(16)		8		(39)		(6)		(45)
Total	$	136	$	(53)	$	83	$	159	$	(80)	$	79

*These components of other comprehensive income are included in the computation of net periodic pension cost.  See Note 11 of our 2015 Annual Report on Form 10-K for additional information.