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Accumulated Other Comprehensive Loss
3 Months Ended
Mar. 31, 2014
Accumulated Other Comprehensive Loss

11. Accumulated Other Comprehensive Loss

Changes in accumulated other comprehensive loss by component, net of income taxes, consisted of the following:

 

(In millions)

   Cash Flow
Hedges
    Foreign
Currency
Translation
    Other     Total  

Balance at December 31, 2013

   $ (49   $ (9   $ (2   $ (60

Other comprehensive income before reclassifications

     2        2        —          4   

Amounts reclassified from accumulated other comprehensive loss

     2        —          —          2   
  

 

 

   

 

 

   

 

 

   

 

 

 

Net current-period other comprehensive income

     4        2        —          6   
  

 

 

   

 

 

   

 

 

   

 

 

 

Balance at March 31, 2014

   $ (45   $ (7   $ (2   $ (54
  

 

 

   

 

 

   

 

 

   

 

 

 

(In millions)

   Cash Flow
Hedges
    Foreign
Currency
Translation
    Other     Total  

Balance at December 31, 2012

   $ (57   $ (1   $ (2   $ (60

Other comprehensive loss before reclassifications

     —          (5     —          (5

Amounts reclassified from accumulated other comprehensive loss

     3        —          —          3   
  

 

 

   

 

 

   

 

 

   

 

 

 

Net current-period other comprehensive (loss) income

     3        (5     —          (2
  

 

 

   

 

 

   

 

 

   

 

 

 

Balance at March 31, 2013

   $ (54   $ (6   $ (2   $ (62
  

 

 

   

 

 

   

 

 

   

 

 

 

Based on the amounts recorded in accumulated other comprehensive loss at March 31, 2014, the Company estimates that it will recognize approximately $14 million in interest expense during the next twelve months related to settled interest rate hedge contracts.

The Company has entered into foreign currency forward exchange contracts, which have been designated as cash flow hedges, to hedge foreign currency exposure to the Indian Rupee. As of March 31, 2014 and December 31, 2013, the notional amount of these derivatives was approximately $41 million and $53 million, respectively, and the fair value totaling approximately $2 million and $(1) million, respectively, was recorded in the consolidated balance sheets in current assets at March 31, 2014 and in current liabilities at December 31, 2013.