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Accumulated Other Comprehensive Income (AOCI)
 9 Months Ended
Sep. 30, 2015
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]  
Accumulated Other Comprehensive Income (AOCI)
Accumulated Other Comprehensive Income (AOCI)

The following tables set forth the changes in AOCI by component for the quarter and nine months ended September 30, 2015 and the reclassifications out of AOCI for the quarter and nine months ended September 30, 2015 and 2014:
 
Three months ended September 30, 2015
(In millions)
Foreign Currency Translation Adjustment
 
Deferred Gain (Loss) on Hedging Activities
 
Pension Liability Adjustment
 
Unrealized Gain (Loss) on Investments
 
Total
Balance at June 30, 2015
$
(1,152
)
 
$
41

 
$
(611
)
 
$
17

 
$
(1,705
)
Other comprehensive income (loss) before reclassifications
(146
)
 
(34
)
 
5

 
20

 
(155
)
Amounts reclassified from AOCI
(29
)
 
(12
)
 
30

 
—

 
(11
)
Tax effect
3

 
13

 
(8
)
 
1

 
9

Net current period other comprehensive income
(172
)
 
(33
)
 
27

 
21

 
(157
)
Balance at September 30, 2015
$
(1,324
)
 
$
8

 
$
(584
)
 
$
38

 
$
(1,862
)
 
 
 
 
 
 
 
 
 
 
 
Nine months ended September 30, 2015
(In millions)
Foreign Currency Translation Adjustment
 
Deferred Gain (Loss) on Hedging Activities
 
Pension Liability Adjustment
 
Unrealized Gain (Loss) on Investments
 
Total
Balance at December 31, 2014
$
(654
)
 
$
47

 
$
(630
)
 
$
(4
)
 
$
(1,241
)
Other comprehensive income before reclassifications
(670
)
 
(3
)
 
14

 
43

 
(616
)
Amounts reclassified from AOCI
(29
)
 
(61
)
 
59

 
—

 
(31
)
Tax effect
29

 
25

 
(27
)
 
(1
)
 
26

Net current period other comprehensive income
(670
)
 
(39
)
 
46

 
42

 
(621
)
Balance at September 30, 2015
$
(1,324
)
 
$
8

 
$
(584
)
 
$
38

 
$
(1,862
)


The nine-month period change in foreign currency translation adjustment is primarily due to U.S. dollar appreciation, mainly impacting the Euro-denominated equity of the Company’s foreign subsidiaries.
 
 
Amount reclassified from AOCI
 
 
 
 
Three months ended
 
Nine months ended
 
 
Details about AOCI components
 
Sep 30
2015
 
Sep 30
2014
 
Sep 30
2015
 
Sep 30
2014
 
Affected line item in the consolidated statement of earnings
 
 
(In millions)
 
 
Deferred loss (gain) on hedging activities
 
 
 
 
 
 
 
 
 
 
 
 
$
(4
)
 
$
1

 
$
(49
)
 
$
86

 
Revenues
 
 
(2
)
 
110

 
15

 
103

 
Cost of products sold
 
 
—

 
(1
)
 
—

 
(1
)
 
Interest expense
 
 
(6
)
 
(2
)
 
(27
)
 
(2
)
 
Other income/expense
 
 
(12
)
 
108

 
(61
)
 
186

 
Total before tax
 
 
5

 
(40
)
 
23

 
(69
)
 
Tax
 
 
$
(7
)
 
$
68

 
$
(38
)
 
$
117

 
Net of tax
 
 
 
 
 
 
 
 
 
 
 
Pension liability adjustment
 
 
 
 
 
 
 
 
 
 
Amortization of defined benefit pension items:
 
 
 
 
 
 
 
 
 
 
Prior service credit
 
$
(4
)
 
$
(3
)
 
$
(17
)
 
$
(11
)
 
 
Actuarial losses
 
19

 
9

 
61

 
27

 
 
Settlement charges
 
15

 
—

 
15

 
—

 
Asset impairment, exit, and restructuring charges
 
 
30

 
6

 
59

 
16

 
Total before tax
 
 
(7
)
 
(2
)
 
(24
)
 
(5
)
 
Tax
 
 
$
23

 
$
4

 
$
35

 
$
11

 
Net of tax
 
 
 
 
 
 
 
 
 
 
 
Foreign currency translation adjustment
 
 
 
 
 
 
 
 
 
 
 
 
$
(29
)
 
$
—

 
$
(29
)
 
$
—

 
Other income/expense
 
 
—

 
—

 
—

 
—

 
Tax
 
 
$
(29
)
 
$
—

 
$
(29
)
 
$
—

 
Net of tax