Accumulated Other Comprehensive Income (Loss)

6 Months Ended

Jun. 30, 2015

Equity [Abstract]

Accumulated Other Comprehensive Income (Loss)

Accumulated Other Comprehensive Income (Loss)

Changes in the balances of each component of AOCI for the six months ended June 30,2015 and 2014 were as follows:

	Derivatives						Defined Benefit Plans						Foreign Currency Translation					AOCI
(millions)	2015			2014			2015			2014			2015			2014		2015			2014
Balance as of January 1	$	16		$	35		$	(302	)	$	(32	)	$	(52	)	$	21	$	(338	)	$	24
Other comprehensive income (loss) before reclassifications, net of tax	(1		)	2			(2		)	(9		)	(39		)	11		(42		)	4
Less: Amounts reclassified from AOCI, net of tax	(5		)	3			(3		)	6			—			5		(8		)	14
Net other comprehensive income (loss)	4			(1		)	1			(15		)	(39		)	6		(34		)	(10		)
Balance as of June 30	$	20		$	34		$	(301	)	$	(47	)	$	(91	)	$	27	$	(372	)	$	14

Amounts reclassified from AOCI, net of tax, for the six months ended June 30, 2015 and 2014, were as follows:

	Three months ended June 30,						Six months ended June 30,
(millions)	2015			2014			2015			2014
Derivatives
Net reclassification from AOCI for cash flow hedges included in cost of products sold	$	(3	)	$	1		$	(5	)	$	3
Less: Income tax expense on reclassification from AOCI included in income tax expense (benefit)	—			—			—			—
Net amount reclassified from AOCI	$	(3	)	$	1		$	(5	)	$	3
Defined Benefit Plans
Net reclassification from AOCI for amortization of prior service cost included in cost of products sold	$	(1	)	$	1		$	(2	)	$	3
Net reclassification from AOCI for amortization of prior service cost included in selling and administrative expenses	(1		)	1			(2		)	2
Less: Income tax expense on reclassification from AOCI included in income tax expense (benefit)	—			(1		)	(1		)	(1		)
Net amount reclassified from AOCI	$	(2	)	$	3		$	(3	)	$	6
Foreign Currency Translation
Net reclassification from AOCI for translation gains realized upon the deconsolidation of foreign subsidiaries included in selling and administrative expenses	$	—		$	—		$	—		$	5
Less: Income tax expense on reclassification from AOCI included in income tax expense (benefit)	—			—			—			—
Net amount reclassified from AOCI	$	—		$	—		$	—		$	5

We estimate that we will reclassify a net $8 million after-tax loss on derivatives from AOCI to earnings within the next 12 months.