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Accumulated Other Comprehensive Income (Loss)
 3 Months Ended
Mar. 31, 2016
Equity [Abstract]  
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss)

The following table summarizes changes in Accumulated other comprehensive income (loss) for the three months ended March 31, 2016 and 2015:

 
Three Months Ended
 
March 31,
In millions
2016
 
2015
Beginning balance
$
(1,504
)
 
$
(658
)
 
 
 
 
Foreign currency translation adjustments during the period
124

 
(527
)
Foreign currency translation adjustments reclassified to income
1

 
—

Income taxes
39

 
(50
)
Foreign currency translation adjustments, net of tax
164

 
(577
)
 
 
 
 
Pension and other postretirement benefit adjustments during the period
1

 
(2
)
Pension and other postretirement benefit adjustments reclassified to income
11

 
15

Income taxes
(4
)
 
(4
)
Pension and other postretirement benefit adjustments, net of tax
8

 
9

 
 
 
 
Ending balance
$
(1,332
)
 
$
(1,226
)



Pension and other postretirement benefit adjustments reclassified to income relate to the amortization of actuarial losses. Refer to the Pension and Other Postretirement Benefits note for additional information.

The Company designated the €1.0 billion of Euro notes issued in May 2015 and the €1.0 billion of Euro notes issued in May 2014 as hedges of a portion of its net investment in Euro-denominated foreign operations to reduce foreign currency risk associated with the investment in these operations. The carrying values of the Euro notes were $1.1 billion and $1.1 billion, respectively, as of March 31, 2016. Changes in the value of this debt resulting from fluctuations in the Euro to U.S. dollar exchange rate have been recorded as foreign currency translation adjustments within Accumulated other comprehensive income (loss). The unrealized pre-tax gain recorded in Accumulated other comprehensive income (loss) related to the net investment hedge was $204 million and $308 million as of March 31, 2016 and December 31, 2015, respectively.

The ending balance of Accumulated other comprehensive income (loss) as of March 31, 2016 and 2015 consisted of cumulative translation adjustment losses, net of tax, of $961 million and $842 million, respectively, and unrecognized pension and other postretirement benefits costs, net of tax, of $371 million and $384 million, respectively.