Accumulated Other Comprehensive Income (Loss)

6 Months Ended

Jun. 30, 2014

Accumulated Other Comprehensive Income (Loss) [Abstract]

Accumulated Other Comprehensive Income (Loss)

Note 12: Accumulated Other Comprehensive Income (Loss)

The changes in the components of accumulated other elements of comprehensive income (loss) for the three months ended June 30, 2014 and 2013 were as follows (in millions):

	Three Months Ended June 30, 2014
	Accumulated Foreign Currency Translation Gain (Loss)			Prior Service Credits and Net Actuarial Losses			Accumulated Gain (Loss) on Cash Flow Hedge Derivatives			Total			Three Months Ended June 30, 2013
Balance at beginning of  period	$	(40	)	$	(45	)	$	16		$	(69	)	$	(107	)
Other comprehensive income (loss) before reclassifications:
Pre-tax		(3	)		–			(3	)		(6	)		(51	)
Tax effect		–			–			1			1			1
Amounts reclassified from accumulated other comprehensive income to:
Revenues		–			–			(2	)		(2	)		-
Cost of sales		–			–			(2	)		(2	)		-
Selling and administrative expense		–			–			–			–			1
Tax effect		–			–			2			2			-
Net current period other comprehensive loss		(3	)		–			(4	)		(7	)		(49	)
Balance at end of period	$	(43	)	$	(45	)	$	12		$	(76	)	$	(156	)

The changes in the components of accumulated other elements of comprehensive income (loss) for the six months ended June 30, 2014 and 2013 were as follows (in millions):

	Six Months Ended June 30, 2014
	Accumulated Foreign Currency Translation Gain (Loss)			Prior Service Credits and Net Actuarial Losses			Accumulated Gain (Loss) on Cash Flow Hedge Derivatives			Total			Six Months Ended June 30, 2013
Balance at beginning of  year	$	(49	)	$	(45	)	$	14		$	(80	)	$	(30	)
Other comprehensive income (loss) before reclassifications:
Pre-tax		6			–			4			10			(132	)
Tax effect		–			–			(2	)		(2	)		5
Amounts reclassified from accumulated other comprehensive income to:
Revenues		–			–			(5	)		(5	)		(2	)
Cost of sales		–			–			(2	)		(2	)
Selling and administrative expense		–			–			–			–			3
Tax effect		–			–			3			3			-
Net current period other comprehensive income (loss)		6			–			(2	)		4			(126	)
Balance at end of period	$	(43	)	$	(45	)	$	12		$	(76	)	$	(156	)