Other Comprehensive Income (Note)

12 Months Ended

Dec. 31, 2020

Other Comprehensive Income [Note Text Block]

The following table presents changes in AOCI, net of tax, reported in the consolidated financial statements for the years ended December 31:


In millions	2020		2019		2018
Defined Benefit Pension and Postretirement Adjustments
Balance at beginning of period	$	(2,277)	$	(1,916)	$	(2,527)
Other comprehensive income (loss) before reclassifications	227		2		22
Reclassification of stranded tax effects	—		(527)		—
Amounts reclassified from accumulated other comprehensive income	170		164		589
Balance at end of period	(1,880)		(2,277)		(1,916)
Change in Cumulative Foreign Currency Translation Adjustments
Balance at beginning of period	(2,465)		(2,581)		(2,111)
Other comprehensive income (loss) before reclassifications	(319)		14		(475)
Amounts reclassified from accumulated other comprehensive income	327		102		2
Other Comprehensive Income (Loss) Attributable to Noncontrolling Interest	—		—		3
Balance at end of period	(2,457)		(2,465)		(2,581)
Net Gains and Losses on Cash Flow Hedging Derivatives
Balance at beginning of period	3		(3)		5
Other comprehensive income (loss) before reclassifications	(34)		4		(10)
Reclassification of stranded tax effects	—		(2)		—
Amounts reclassified from accumulated other comprehensive income	26		4		2
Balance at end of period	(5)		3		(3)
Total Accumulated Other Comprehensive Income (Loss) at End of Period	$	(4,342)	$	(4,739)	$	(4,500)

Reclassifications out of AOCI for the three years ended December 31 were as follows:


	Amount Reclassified from Accumulated Other Comprehensive Income							Location of Amount Reclassified from AOCI
	2020		2019		2018
In millions
Defined benefit pension and postretirement items:
Prior-service costs	$	(19)	$	(10)	$	(11)	(a)	Non-operating pension expense
Actuarial gains/(losses)	(207)		(208)		(774)		(a)	Non-operating pension expense
Total pre-tax amount	(226)		(218)		(785)
Tax (expense)/benefit	56		54		196
Net of tax	(170)		(164)		(589)
Reclassification of stranded tax effects	—		527		—			Retained Earnings
Total, net of tax	(170)		363		(589)
Change in cumulative foreign currency translation adjustments:
Business acquisitions/divestiture	(327)		(102)		(2)			Net (gains) losses on sales and impairment of businesses and Discontinued operations, net of taxes
Tax (expense)/benefit	—		—		—
Net of tax	(327)		(102)		(2)
Net gains and losses on cash flow hedging derivatives:
Foreign exchange contracts	(39)		(6)		(3)		(b)	Cost of products sold
Total pre-tax amount	(39)		(6)		(3)
Tax (expense)/benefit	13		2		1
Net of tax	(26)		(4)		(2)
Reclassification of stranded tax effects	—		2		—			Retained Earnings
Total, net of tax	(26)		(2)		(2)
Total reclassifications for the period, net of tax	$	(523)	$	259	$	(593)

(a) These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note 19 for additional details).

(b) This accumulated other comprehensive income component is included in our derivatives and hedging activities (see Note 17 for additional details).