Accumulated Other Comprehensive Income

9 Months Ended

Sep. 30, 2013

Equity [Abstract]

Accumulated Other Comprehensive Income

ACCUMULATED OTHER COMPREHENSIVE INCOME

Effective January 1, 2013, the Company adopted new accounting guidance that was issued in February 2013 requiring disclosure of amounts transferred out of accumulated other comprehensive income and recognized in the statement of income. The following table summarizes changes in accumulated other comprehensive income for the three and nine months endedSeptember 30, 2013 and 2012:

	Three Months Ended						Nine Months Ended
(In millions)	September 30,						September 30,
	2013			2012			2013			2012
Beginning balance	$	12		$	135		$	293		$	224
Foreign currency translation adjustments during the period	241			132			(166		)	64
Foreign currency translation adjustments reclassified to income	1			1			7			(46		)
Total foreign currency translation adjustments	242			133			(159		)	18
Pension and other postretirement benefit adjustments during the period	36			—			147			—
Pension and other postretirement benefit adjustments reclassified to income	22			13			99			49
Income taxes	(20		)	(4		)	(88		)	(14		)
Total pension and other postretirement benefit adjustments	38			9			158			35
Ending balance	$	292		$	277		$	292		$	277

Foreign currency translation adjustments reclassified to income are primarily related to the disposal of certain discontinued operations. Refer to the Discontinued Operations note for additional information. Pension and other postretirement benefit adjustments reclassified to income represent the amortization of actuarial losses and prior service cost, and settlement charges recognized in net periodic benefit cost. Refer to the Retirement Plans and Postretirement Benefits note for the amounts included in net periodic benefit cost. Pension and other postretirement benefit adjustments reclassified to income also included $2 million for the three-month period ended September 30, 2013, and $6 million and $11 million for the nine-month periods ended September 30, 2013 and 2012, respectively, related to the disposal of certain discontinued operations. Refer to the Discontinued Operations note for additional information.

The ending balance of accumulated other comprehensive income as of September 30, 2013 and 2012 consisted of cumulative translation adjustment income of $708 million and $791 million, respectively, and unrecognized pension and other postretirement benefits costs, net of tax, of $416 million and $514 million, respectively.