Accumulated Other Comprehensive Loss and Other Comprehensive Income

3 Months Ended

Mar. 31, 2018

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		Foreign Currency Translation Adjustments		Deferred Gains (Losses) on Hedge Contracts		Accumulated Other Comprehensive Loss
For the three months ended March 31, 2018
Beginning of period	$	(1,396)	$	11	$	10	$	(1,375)
Other comprehensive income before reclassifications		—		42		1		43
Reclassified from Accumulated other comprehensive loss		31		—		—		31
Other comprehensive income		31		42		1		74
End of period	$	(1,365)	$	53	$	11	$	(1,301)
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)

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

	March 31, 2018						April 1, 2017
(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*	$	38	$	(9)	$	29	$	34	$	(12)	$	22
Amortization of prior service cost*		2		—		2		2		—		2
Pension and postretirement benefits adjustments, net		40		(9)		31		36		(12)		24
Deferred gains on hedge contracts:
Current deferrals		2		(1)		1		3		(1)		2
Reclassification adjustments		—		—		—		2		—		2
Deferred gains on hedge contracts, net		2		(1)		1		5		(1)		4
Foreign currency translation adjustments		40		2		42		21		1		22
Total	$	82	$	(8)	$	74	$	62	$	(12)	$	50

*These components of other comprehensive income are included in the computation of net periodic pension cost.  See Note 11 of our 2017 Annual Report on Form 10-K for additional information.