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Accumulated Other Comprehensive Loss
 6 Months Ended
Jun. 30, 2019
Equity [Abstract]  
Accumulated Other Comprehensive Loss

Note 15 — Accumulated Other Comprehensive Loss

Changes in accumulated other comprehensive loss, net of non-controlling interests, and net of tax are provided in the following tables for the three and six months ended June 30, 2019 and 2018. These tables exclude amounts attributable to non-controlling interests, which are not material for further disclosure.

 

 

 

Foreign currency

translation (i)

 

 

Cash flow hedges (i)

 

 

Defined pension and

post-retirement

benefit costs (ii)

 

 

Total

 

 

 

2019

 

 

2018

 

 

2019

 

 

2018

 

 

2019

 

 

2018

 

 

2019

 

 

2018

 

Quarter-to-date activity:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at March 31, 2019 and 2018, respectively

 

$

(607

)

 

$

(307

)

 

$

3

 

 

$

9

 

 

$

(1,370

)

 

$

(1,132

)

 

$

(1,974

)

 

$

(1,430

)

Other comprehensive (loss)/income before

   reclassifications

 

 

(19

)

 

 

(199

)

 

 

(7

)

 

 

(20

)

 

 

3

 

 

 

35

 

 

 

(23

)

 

 

(184

)

Loss reclassified from accumulated other

   comprehensive loss (net of income tax benefit of

   $3 and $11, respectively)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

6

 

 

 

4

 

 

 

3

 

 

 

4

 

 

 

9

 

Net current-period other comprehensive (loss)/income

 

 

(19

)

 

 

(199

)

 

 

(7

)

 

 

(14

)

 

 

7

 

 

 

38

 

 

 

(19

)

 

 

(175

)

Balance at June 30, 2019 and 2018, respectively

 

$

(626

)

 

$

(506

)

 

$

(4

)

 

$

(5

)

 

$

(1,363

)

 

$

(1,094

)

 

$

(1,993

)

 

$

(1,605

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year-to-date activity:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at December 31, 2018 and 2017, respectively

 

$

(616

)

 

$

(365

)

 

$

(8

)

 

$

(10

)

 

$

(1,337

)

 

$

(1,138

)

 

$

(1,961

)

 

$

(1,513

)

Other comprehensive (loss)/income before

   reclassifications

 

 

(10

)

 

 

(141

)

 

 

(1

)

 

 

(11

)

 

 

4

 

 

 

34

 

 

 

(7

)

 

 

(118

)

Loss reclassified from accumulated other

   comprehensive loss (net of income tax benefit of

   $7 and $12, respectively)

 

 

—

 

 

 

—

 

 

 

5

 

 

 

16

 

 

 

6

 

 

 

10

 

 

 

11

 

 

 

26

 

Reclassification of tax effects per ASU 2018-02 (iii)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(36

)

 

 

—

 

 

 

(36

)

 

 

—

 

Net current-period other comprehensive (loss)/income

 

 

(10

)

 

 

(141

)

 

 

4

 

 

 

5

 

 

 

(26

)

 

 

44

 

 

 

(32

)

 

 

(92

)

Balance at June 30, 2019 and 2018, respectively

 

$

(626

)

 

$

(506

)

 

$

(4

)

 

$

(5

)

 

$

(1,363

)

 

$

(1,094

)

 

$

(1,993

)

 

$

(1,605

)

 

(i)

Reclassification adjustments from accumulated other comprehensive loss related to foreign currency translation and cash flow hedges are included in Revenue, Salaries and benefits, and Other income, net in the accompanying condensed consolidated statements of comprehensive income. See Note 8 — Derivative Financial Instruments for additional details regarding the reclassification adjustments for the hedge settlements.

(ii)

Reclassification adjustments from accumulated other comprehensive loss are included in the computation of net periodic pension cost (see Note 11 — Retirement Benefits). These components are included in Other income, net in the accompanying condensed consolidated statements of comprehensive income.

(iii)

On January 1, 2019, in accordance with ASU 2018-02, we reclassified to Retained earnings $36 million of defined pension and postretirement costs, representing the ‘stranded’ tax effect of the change in the U.S. federal corporate tax rate resulting from U.S. Tax Reform. See Note 2 — Basis of Presentation and Recent Accounting Pronouncements for further information.