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COMPREHENSIVE (LOSS) INCOME
12 Months Ended
Dec. 31, 2020
Other Comprehensive Income (Loss), Net of Tax [Abstract]  
COMPREHENSIVE (LOSS) INCOME COMPREHENSIVE (LOSS) INCOME
AOCI includes foreign currency translation adjustments related to consolidation of the Company’s foreign subsidiaries, fair value adjustments related to the Company’s derivative financial instruments, and actuarial gains and losses related to the Company's pension plans. These changes are recorded in AOCI net of any related tax adjustments. For the years ended December 31, 2020, 2019 and 2018, these tax adjustments were $216 million, $173 million and $158 million, respectively, primarily related to foreign currency translation adjustments.

The cumulative foreign currency translation adjustments included translation losses of $25 million and $260 million at December 31, 2020 and 2019, respectively, and which included losses of $162 million and $108 million, at December 31, 2020 and 2019, respectively, on loans designated as hedges of net investments.

Changes in AOCI, net of tax, by component for the years ended December 31, 2020 and 2019 were as follows:
(in millions)Foreign Currency Translation Gain (Loss) Gain and (Loss) on Cash Flow HedgesGain and (Loss) on Net Investment and Fair Value HedgesPension Liability Gain (Loss)Total
Balance, net of tax, at December 31, 2019$(368)$(11)$(101)$(120)$(600)
Other comprehensive income (loss) before reclassifications and tax impact151 (17)(23)(26)85 
Tax benefit30 43 
Other comprehensive income (loss), net of tax, before reclassifications$181 $(16)$(18)$(19)$128 
Amounts reclassified from accumulated other comprehensive income, net of tax— — 
Net increase (decrease) in other comprehensive income181 (14)(18)(13)136 
Balance, net of tax, at December 31, 2020$(187)$(25)$(119)$(133)$(464)

(in millions)Foreign Currency Translation Gain (Loss)Gain and (Loss) on Cash Flow HedgesGain and (Loss) on Net Investment and Fair Value HedgesPension Liability Gain (Loss)Total
Balance, net of tax, at December 31, 2018$(284)$$(112)$(84)$(479)
Other comprehensive (loss) income before reclassifications and tax impact(88)(17)18 (54)(141)
Tax benefit (expense)(7)14 15 
Other comprehensive (loss) income, net of tax, before reclassifications$(84)$(13)$11 $(40)$(126)
Amounts reclassified from accumulated other comprehensive income, net of tax— — 
Net (decrease) increase in other comprehensive income(84)(12)11 (36)(121)
Balance, net of tax, at December 31, 2019$(368)$(11)$(101)$(120)$(600)
Reclassification out of AOCI to the Consolidated Statements of Operations for the years ended December 31, 2020, 2019, and 2018 were as follows:
Details about AOCI ComponentsAmounts Reclassified from AOCI
Affected Line Item in the
Consolidated Statements of Operations
Year Ended December 31,
(in millions)202020192018
Loss on derivative financial instruments:
Interest rate swaps$(4)$(2)$(2)Interest expense
Foreign exchange forward contracts(9)Cost of products sold
Net loss before tax$(2)$(1)$(11)
Tax impact— — Provision for income taxes
Net loss after tax$(2)$(1)$(10)
Realized gain on available-for-sale securities:
Available -for-sale-securities$— $— $45 Other expense (income), net
Tax impact— — (1)Provision for income taxes
Net gain after tax$— $— $44 
Amortization of defined benefit pension and other postemployment benefit items:
Amortization of prior service benefits$$$— (a)
Amortization of net actuarial losses(9)(6)(6)(a)
Net loss before tax$(8)$(5)$(6)
Tax impactProvision for income taxes
Net loss after tax$(6)$(4)$(4)
Total reclassifications for the period$(8)$(5)$30 
(a) These AOCI components are included in the computation of net periodic benefit cost for the years ended December 31, 2020, 2019, and 2018, respectively.