Accumulated Other Comprehensive Loss and Other Comprehensive Income

9 Months Ended

Sep. 30, 2017

Accumulated Other Comprehensive Loss and Other Comprehensive Income

Accumulated Other Comprehensive Loss and Other Comprehensive Income

Note 10.  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		Foreign Currency Translation Adjustments		Deferred Gains (Losses) on Hedge Contracts		Accumulated Other Comprehensive Loss
For the nine months ended September 30, 2017
Beginning of period	$	(1,505)	$	(96)	$	(4)	$	(1,605)
Other comprehensive income before reclassifications		—		98		10		108
Reclassified from Accumulated other comprehensive loss		70		—		8		78
Other comprehensive income		70		98		18		186
End of period	$	(1,435)	$	2	$	14	$	(1,419)
For the nine months ended October 1, 2016
Beginning of period	$	(1,327)	$	(47)	$	(24)	$	(1,398)
Other comprehensive income before reclassifications		5		8		11		24
Reclassified from Accumulated other comprehensive loss		47		—		12		59
Other comprehensive income		52		8		23		83
End of period	$	(1,275)	$	(39)	$	(1)	$	(1,315)

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

	September 30, 2017						October 1, 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		(1)		1		(2)		1		(1)
Pension and postretirement benefits adjustments, net		36		(13)		23		24		(8)		16
Deferred gains (losses) on hedge contracts:
Current deferrals		9		(2)		7		(3)		—		(3)
Reclassification adjustments		3		—		3		1		—		1
Deferred gains (losses) on hedge contracts, net		12		(2)		10		(2)		—		(2)
Foreign currency translation adjustments		31		3		34		13		(9)		4
Total	$	79	$	(12)	$	67	$	35	$	(17)	$	18
Nine Months Ended
Pension and postretirement benefits adjustments:
Amortization of net actuarial loss*	$	102	$	(36)	$	66	$	78	$	(28)	$	50
Amortization of prior service cost (credit)*		6		(2)		4		(6)		3		(3)
Unrealized gains		—		—		—		7		(2)		5
Pension and postretirement benefits adjustments, net		108		(38)		70		79		(27)		52
Deferred gains on hedge contracts:
Current deferrals		14		(4)		10		17		(6)		11
Reclassification adjustments		9		(1)		8		16		(4)		12
Deferred gains on hedge contracts, net		23		(5)		18		33		(10)		23
Foreign currency translation adjustments		91		7		98		24		(16)		8
Total	$	222	$	(36)	$	186	$	136	$	(53)	$	83

*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.