Comprehensive Income (Loss)

9 Months Ended

Sep. 30, 2011

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Comprehensive Income (Loss)

COMPREHENSIVE INCOME (LOSS)

Comprehensive income (loss) is comprised of net income and other adjustments, including items such as non-U.S. currency translation adjustments, hedges of net investments in non-U.S. subsidiaries, pension plan liability adjustments, and changes in the fair value of certain derivative financial instruments qualifying as cash flow hedges. We do not provide income taxes on currency translation adjustments (CTA) as the historical earnings from our non-U.S. subsidiaries are considered to be permanently reinvested (refer to Note 9). During the fourth quarter of 2011, we expect to repatriate to the U.S. a portion of our 2011 non-U.S. earnings to satisfy our 2011 U.S.-based cash flow needs. The portion of current year earnings expected to be repatriated during the fourth quarter of 2011 is to be determined in U.S. dollars and converted to the equivalent amount of non-U.S. currency at the time of repatriation; therefore, we do not anticipate that the planned repatriation will have an impact on the CTA component of our AOCI balance.

The following table summarizes our comprehensive income (loss) for the periods presented (in millions):

	Third Quarter						First Nine Months
	2011			2010			2011			2010
Net income	$	284		$	208		$	636		$	527
Currency translations	(229		)	194			(34		)	(93		)
Net investment hedges, net of tax	20			—			14			—
Pension plan liability adjustments, net of tax	(2		)	(3		)	1			—
Cash flow hedges, net of tax	(14		)	10			10			(1		)
Net comprehensive income (loss) adjustments, net of tax	(225		)	201			(9		)	(94		)
Comprehensive income	$	59		$	409		$	627		$	433