XML 43 R32.htm IDEA: XBRL DOCUMENT v3.20.2
Other Comprehensive Income (Loss) (Tables)
 6 Months Ended
Jun. 30, 2020
Equity [Abstract]  
Schedule of Accumulated Other Comprehensive Income (Loss)
The changes, net of tax, in the balances of each component of Accumulated Other Comprehensive Income ("AOCI") for the three and six-month periods ended June 30, 2020 and 2019, including amounts reclassified out of AOCI, are as follows:
(In millions)
Pension/Post-Retirement Plans Gains (Losses)
 
Foreign Currency Translation Gains (Losses)
 
Total Gains (Losses)
Balance as of April 1, 2020
$
(3,374
)
 
$
(2,473
)
 
$
(5,847
)
Other comprehensive income before reclassifications
(3
)
 
237

 
234

Amounts reclassified from accumulated other comprehensive income
31

 
—

 
31

Net current period other comprehensive income
28

 
237

 
265

Balance as of June 30, 2020
$
(3,346
)
 
$
(2,236
)
 
$
(5,582
)
(In millions)
Pension/Post-Retirement Plans Gains (Losses)
 
Foreign Currency Translation Gains (Losses)
 
Total Gains (Losses)
Balance as of April 1, 2019
$
(2,990
)
 
$
(1,600
)
 
$
(4,590
)
Other comprehensive income before reclassifications
29

 
15

 
44

Amounts reclassified from accumulated other comprehensive income
19

 
—

 
19

Net current period other comprehensive income
48

 
15

 
63

Balance as of June 30, 2019
$
(2,942
)
 
$
(1,585
)
 
$
(4,527
)
(In millions)
Pension/Post-Retirement Plans Gains (Losses)
 
Foreign Currency Translation Gains (Losses)
 
Total Gains (Losses)
Balance as of December 31, 2019
$
(3,512
)
 
$
(1,543
)
 
$
(5,055
)
Other comprehensive (loss) income before reclassifications
106

 
(693
)
 
(587
)
Amounts reclassified from accumulated other comprehensive income
60

 
—

 
60

Net current period other comprehensive income (loss)
166

 
(693
)
 
(527
)
Balance as of June 30, 2020
$
(3,346
)
 
$
(2,236
)
 
$
(5,582
)

(In millions)
Pension/Post-Retirement Plans Gains (Losses)
 
Foreign Currency Translation Gains (Losses)
 
Total Gains (Losses)
Balance as of December 31, 2018
$
(2,953
)
 
$
(1,694
)
 
$
(4,647
)
Other comprehensive income (loss) before reclassifications
(30
)
 
109

 
79

Amounts reclassified from accumulated other comprehensive income
41

 
—

 
41

Net current period other comprehensive income
11

 
109

 
120

Balance as of June 30, 2019
$
(2,942
)
 
$
(1,585
)
 
$
(4,527
)
Schedule of Components of Comprehensive Income (Loss)
The components of other comprehensive income (loss) for the three and six-month periods ended June 30, 2020 and 2019 are as follows:
Three Months Ended June 30,
 
2020
 
2019
(In millions)
 
Pre-Tax
Tax (Credit)
Net of Tax
 
Pre-Tax
Tax (Credit)
Net of Tax
Foreign currency translation adjustments
 
$
241

$
4

$
237

 
$
13

$
(2
)
$
15

Pension/post-retirement plans:
 
 
 
 
 
 
 
 
Amortization of (gains) losses included in net periodic pension cost:
 
 
 
 
 
 


 
Prior service credits (a)
 
(1
)
—

(1
)
 
—

—

—

Net actuarial losses (a)
 
40

8

32

 
26

6

20

Effect of remeasurement (a)
 
—

—

—

 
(1
)
—

(1
)
Subtotal

39

8

31


25

6

19

Foreign currency translation adjustments
 
(5
)
(2
)
(3
)
 
38

9

29

Pension/post-retirement plans gains
 
34

6

28

 
63

15

48

Other comprehensive income
 
$
275

$
10

$
265

 
$
76

$
13

$
63

(a) Components of net periodic pension cost are included in other net benefit credits in the consolidated statements of income. Income tax expense on net actuarial losses are included in income tax expense.
Six Months Ended June 30,
2020
 
2019
(In millions)
Pre-Tax
Tax (Credit)
Net of Tax
 
Pre-Tax
Tax (Credit)
Net of Tax
Foreign currency translation adjustments
$
(700
)
$
(7
)
$
(693
)
 
$
109

$
—

$
109

Pension/post-retirement plans:
 
 
 
 
 
 
 
Amortization of (gains) losses included in net periodic pension cost:


 
 
 
 
 
 
Prior service credits (a)
(1
)
—

(1
)
 
(1
)
—

(1
)
Net actuarial losses (a)
80

19

61

 
52

12

40

Effect of remeasurement (a)
—

—

—

 
(1
)
—

(1
)
Effect of settlement (a)
—

—

—

 
4

1

3

Subtotal
79

19

60

 
54

13

41

Foreign currency translation adjustments
130

24

106

 
(34
)
(4
)
(30
)
Pension/post-retirement plans gains
209

43

166

 
20

9

11

Other comprehensive (loss) income
$
(491
)
$
36

$
(527
)
 
$
129

$
9

$
120

(a) Components of net periodic pension cost are included in other net benefit credits in the consolidated statements of income. Income tax expense on net actuarial losses are included in income tax expense.