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Supplemental Balance Sheet Information
 12 Months Ended
Dec. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Supplemental Balance Sheet Information
Supplemental Balance Sheet Information
INVENTORIES
Inventories as of December 31 consisted of the following:
(millions)
2017
 
2016
Finished goods
$
140

 
$
132

Work in progress
39

 
37

Raw materials
73

 
67

Total
$
252

 
$
236


PROPERTY, PLANT AND EQUIPMENT
Property, plant and equipment as of December 31 consisted of the following:
(millions)
2017
 
2016
Land and mineral deposits
$
120

 
$
116

Buildings and improvements
1,100

 
1,078

Machinery and equipment
2,595

 
2,473

 
3,815

 
3,667

Reserves for depreciation and depletion
(2,053
)
 
(1,960
)
Total
$
1,762

 
$
1,707

Annual depreciation and depletion expense
$
129

 
$
129


ACCRUED EXPENSES
Accrued expenses as of December 31 consisted of the following:
(millions)
2017
 
2016
Self-insurance reserves
$
12

 
$
12

Employee compensation
17

 
35

Interest
12

 
31

Derivatives
9

 
5

Pension and other postretirement benefits
17

 
24

Environmental
17

 
18

Other
51

 
50

Total
$
135

 
$
175


ASSET RETIREMENT OBLIGATIONS
Changes in our liability for asset retirement obligations consisted of the following:
(millions)
2017
 
2016
Balance as of January 1
$
113

 
$
119

Accretion expense
7

 
7

Liabilities incurred
3

 
2

Changes in estimated cash flows (a)
(4
)
 
(12
)
Liabilities settled
(3
)
 
(4
)
Foreign currency translation
2

 
1

Balance as of December 31
$
118

 
$
113

(a)
Changes in estimated cash flows for the year ended December 31, 2016 includes a $8 million reduction related to one of our quarries.

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
Changes in the balances of each component of accumulated other comprehensive income (loss), or AOCI, are summarized in the following table:
(millions)
Derivatives
 
Pension and Other Postretirement Benefit Plans
 
Foreign
Currency Translation
 
Total AOCI
Balance as of January 1, 2015
$
16

 
$
(302
)
 
$
(52
)
 
$
(338
)
Other comprehensive income (loss) before reclassifications, net of tax
(5
)
 
74

 
(67
)
 
2

Less: Amounts reclassified from AOCI, net of tax
(9
)
 
(7
)
 
(6
)
 
(22
)
Other comprehensive income (loss), net of tax
4

 
81

 
(61
)
 
24

Balance as of December 31, 2015
$
20

 
$
(221
)
 
$
(113
)
 
$
(314
)
Other comprehensive income (loss) before reclassifications, net of tax
1

 
(34
)
 
(53
)
 
(86
)
Less: Amounts reclassified from AOCI, net of tax
(6
)
 
(9
)
 
—

 
(15
)
Other comprehensive income (loss), net of tax
7

 
(25
)
 
(53
)
 
(71
)
Balance as of December 31, 2016
$
27

 
$
(246
)
 
$
(166
)
 
$
(385
)
Other comprehensive income (loss) before reclassifications, net of tax
(14
)
 
(65
)
 
58

 
(21
)
Less: Amounts reclassified from AOCI, net of tax
(3
)
 
(14
)
 
—

 
(17
)
Other comprehensive income (loss), net of tax
(11
)
 
(51
)
 
58

 
(4
)
Balance as of December 31, 2017
$
16

 
$
(297
)
 
$
(108
)
 
$
(389
)

Amounts reclassified from AOCI, net of tax, for the years ended December 31, 2017, 2016 and 2015 were as follows:
(millions)
2017
 
2016
 
2015
Derivatives
 
 
 
 
 
Net reclassification from AOCI for cash flow hedges included in cost of products sold
$
(6
)
 
$
(10
)
 
$
(8
)
Net reclassification from AOCI for cash flow hedges included in income and gain from the sale of equity method investment to related party
—

 
—

 
1

Less: Income tax (benefit) expense on reclassification from AOCI included in income tax expense
(3
)
 
(4
)
 
2

Net amount reclassified from AOCI
$
(3
)
 
$
(6
)
 
$
(9
)
 
 
 
 
 
 
Pension and postretirement benefits
 
 
 
 
 
Net reclassification from AOCI for amortization of prior service (benefit) cost included in cost of products sold
$
(8
)
 
$
(1
)
 
$
1

Net reclassification from AOCI for amortization of prior service benefit included in selling and administrative expenses
(5
)
 
(12
)
 
(5
)
Net reclassification from AOCI for amortization of prior service benefit included in (loss) income from and gain on sale of discontinued operations
(11
)
 
(3
)
 
(4
)
Less: Income tax expense on reclassification from AOCI included in income tax expense
(10
)
 
(7
)
 
(1
)
Net amount reclassified from AOCI
$
(14
)
 
$
(9
)
 
$
(7
)
 
 
 
 
 
 
Foreign Currency Translation
 
 
 
 
 
Net reclassification from AOCI for translation loss realized upon the sale of foreign entities
$
—

 
$
—

 
$
(6
)
Net amount reclassified from AOCI
$
—

 
$
—

 
$
(6
)

We estimate that we will reclassify a net $6 million after-tax loss on derivatives from AOCI to earnings within the next 12 months.