Accumulated Other Comprehensive Income (Loss)

9 Months Ended

Sep. 30, 2016

Equity [Abstract]

Accumulated Other Comprehensive Loss

Accumulated Other Comprehensive Income (Loss)

Accumulated other comprehensive income (loss) (“AOCI”) includes certain items that are reported directly within a separate component of shareholders’ equity. The following table presents changes in accumulated other comprehensive income (loss) balances.

	2016			2015
	(in millions)
Three Months Ended September 30,
Unrealized gains (losses) on cash flow hedging instruments:
Balance at beginning of period	$	—		$	(32	)
Other comprehensive income for period:
Net gains arising during period, net of tax of $- million and $2 million, respectively	—			6
Reclassification adjustment for losses realized in net income, net of tax of $- million and $1 million, respectively(1)	—			2
Total other comprehensive income for period	—			8
Balance at end of period	—			(24		)
Pension and postretirement benefit plan liability:
Balance at beginning and end of period	26			(13		)
Total accumulated other comprehensive income (loss) at end of period	$	26		$	(37	)
Nine Months Ended September 30,
Unrealized gains (losses) on cash flow hedging instruments:
Balance at beginning of period	$	(15	)	$	(52	)
Other comprehensive income for period:
Net gains arising during period, net of tax of $6 million and $11 million, respectively	11			22
Reclassification adjustment for losses realized in net income, net of tax of $3 million and $3 million, respectively(1)	4			6
Total other comprehensive income for period	15			28
Balance at end of period	—			(24		)
Pension and postretirement benefit plan liability:
Balance at beginning of period	29			(13		)
Other comprehensive income for period:
Reclassification adjustment for gains realized in net income, net of tax of $(1) million and $- million, respectively	(3		)	—
Total other comprehensive loss for period	(3		)	—
Balance at end of period	26			(13		)
Total accumulated other comprehensive income (loss) at end of period	$	26		$	(37	)

⁽¹⁾  The amounts reclassified relate to currency swaps and are included as a component of interest expense in our consolidated statement of income.