Accumulated Other Comprehensive Loss and Other Comprehensive Income (Tables)

3 Months Ended

Apr. 01, 2017

Accumulated Other Comprehensive Loss and Other Comprehensive Income

Schedule of components of Accumulated Other Comprehensive Loss

(In millions)		Pension and Postretirement Benefits Adjustments		Foreign Currency Translation Adjustments		Deferred Gains (Losses) on Hedge Contracts		Accumulated Other Comprehensive Loss
For the three months ended April 1, 2017
Beginning of period	$	(1,505)	$	(96)	$	(4)	$	(1,605)
Other comprehensive income before reclassifications		—		22		2		24
Reclassified from Accumulated other comprehensive loss		24		—		2		26
Other comprehensive income		24		22		4		50
End of period	$	(1,481)	$	(74)	$	—	$	(1,555)
For the three months ended April 2, 2016
Beginning of period	$	(1,327)	$	(47)	$	(24)	$	(1,398)
Other comprehensive income before reclassifications		—		24		16		40
Reclassified from Accumulated other comprehensive loss		21		—		5		26
Other comprehensive income		21		24		21		66
End of period	$	(1,306)	$	(23)	$	(3)	$	(1,332)

Schedule of before and after-tax components of other comprehensive income

	April 1, 2017						April 2, 2016
(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*	$	34	$	(12)	$	22	$	26	$	(9)	$	17
Amortization of prior service cost (credit)*		2		—		2		(2)		1		(1)
Unrealized gains		—		—		—		7		(2)		5
Pension and postretirement benefits adjustments, net		36		(12)		24		31		(10)		21
Deferred gains on hedge contracts:
Current deferrals		3		(1)		2		22		(6)		16
Reclassification adjustments		2		—		2		7		(2)		5
Deferred gains on hedge contracts, net		5		(1)		4		29		(8)		21
Foreign currency translation adjustments		21		1		22		25		(1)		24
Total	$	62	$	(12)	$	50	$	85	$	(19)	$	66

*These components of other comprehensive income are included in the computation of net periodic pension cost.  See Note 11 of our 2016 Annual Report on Form 10-K for additional information.