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ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)
 9 Months Ended
Sep. 30, 2019
Equity [Abstract]  
Summary of Tax Effects on Components of Other Comprehensive Income (Loss) The tax effect for each component of other comprehensive income (loss) consisted of the following (in millions):
 
Three Months Ended September 30, 2019
 
Gross
Amount
 
Income
Taxes
 
Net
Amount
Unrealized gain (loss) on cash flow hedges
$
(28
)
 
$
6

 
$
(22
)
Changes in retirement plans’ funded status
(15
)
 
6

 
(9
)
Foreign currency translation
31

 
—

 
31

Share of other comprehensive (loss) of entities using the
   equity method
(14
)
 
—

 
(14
)
Other comprehensive income (loss)
$
(26
)

$
12


$
(14
)
 
Nine Months Ended September 30, 2019
 
Gross
Amount
 
Income
Taxes
 
Net
Amount
Unrealized gain (loss) on cash flow hedges
$
(50
)
 
$
11

 
$
(39
)
Changes in retirement plans’ funded status
(37
)
 
14

 
(23
)
Foreign currency translation
109

 
—

 
109

Share of other comprehensive loss of entities using the
equity method
(17
)
 
—

 
(17
)
Other comprehensive income (loss)
$
5

 
$
25

 
$
30

 
Three Months Ended September 30, 2018
 
Gross
Amount
 
Income
Taxes
 
Net
Amount
Unrealized gain (loss) on cash flow hedges
$
16

 
$
(1
)
 
$
15

Changes in retirement plans’ funded status
(14
)
 
8

 
(6
)
Foreign currency translation
(38
)
 
—

 
(38
)
Share of other comprehensive income of entities using the
   equity method
(18
)
 
—

 
(18
)
Other comprehensive income (loss)
$
(54
)
 
$
7

 
$
(47
)
 
Nine Months Ended September 30, 2018
 
Gross
Amount
 
Income
Taxes
 
Net
Amount
Unrealized gain (loss) on cash flow hedges
$
8

 
$
2

 
$
10

Changes in retirement plans’ funded status
585

 
(135
)
 
450

Foreign currency translation
(373
)
 
—

 
(373
)
Share of other comprehensive income of entities using the
equity method
(36
)
 
—

 
(36
)
Other comprehensive income (loss)
$
184

 
$
(133
)
 
$
51
Summary of Changes in Other Comprehensive Income (Loss)
The changes, net of tax, in each component of accumulated other comprehensive income (loss) consisted of the following (in millions):
 
Unrealized
Gain (Loss) on
Cash Flow
Hedges
 
Change in
Retirement Plans’
Funded Status
 
Foreign Currency
Translation
 
Share of Other
Comprehensive
Income (Loss) of
Entities Using
the Equity
Method
 
Total
Balance, January 1, 2018
$
1


$
(950
)

$
(899
)

$
(118
)

$
(1,966
)
Other comprehensive income (loss), before reclassifications
38

 
438

 
(373
)
 
(29
)
 
74

Amounts reclassified from other comprehensive
income
(28
)
 
12

 
—

 
—

 
(16
)
Other comprehensive income (loss) *
10

 
450

 
(373
)
 
(29
)
 
58

Balance, Balance, September 30, 2018
$
11

 
$
(500
)
 
$
(1,272
)
 
$
(147
)
 
$
(1,908
)
 
 
 
 
 
 
 
 
 
 
Balance, January 1, 2019
$
(22
)

$
(473
)

$
(1,216
)

$
(148
)

$
(1,859
)
Other comprehensive income (loss), before reclassifications
(93
)
 
30

 
111

 
(17
)
 
31

Amounts reclassified from other comprehensive
income (loss)
54

 
(53
)
 
—

 
—

 
1

Other comprehensive income (loss) *
(39
)
 
(23
)
 
111

 
(17
)
 
32

Reclassification of certain tax effects
—

 
(65
)
 
—

 
—

 
(65
)
Balance, September 30, 2019
$
(61
)

$
(561
)

$
(1,105
)

$
(165
)

$
(1,892
)
(*)
Excluded from the table above is other comprehensive income (loss) allocated to noncontrolling interests of $(2) million and $(7) million for the nine months ended September 30, 2019 and 2018, respectively.
Summary of Reclassification of Accumulated Other Comprehensive Income (Loss)
The following table summarizes the gross impact of changes in the fair value of derivatives designated as cash flow hedges on accumulated other comprehensive income (loss) and net income during the three months and nine months ended September 30, 2019 and 2018 (in millions):
 
 
 
 
Recognized in Net Income
For the Three Months Ended September 30,
 
Gain (Loss) Recognized in Accumulated Other Comprehensive Income
 
Classification of Gain (Loss)
 
Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income
2019
 
 
 
 
 
 
Foreign exchange contracts
 
$
(42
)
 
 
 
 
 
 
 
 
Net sales
 
2

 
 
 
 
Cost of goods sold
 
(17
)
 
 
 
 
Other, Net
 
(3
)
Interest rate contracts
 
(6
)
 
Interest expense
 
(3
)
Total
 
$
(48
)
 
 
 
$
(21
)
2018
 
 
 
 
 
 
Foreign currency contracts
 
$
20

 
 
 
 
 
 
 
 
Net sales
 
(2
)
 
 
 
 
Cost of goods sold
 
(6
)
 
 
 
 
Other, Net
 
10

Interest rate contracts
 
(4
)
 
Interest expense
 
(2
)
Total
 
$
16

 
 
 
$
—

 
 
 
 
Recognized in Net Income
For the Nine Months Ended September 30,
 
Gain (Loss) Recognized in Accumulated Other Comprehensive Income
 
Classification of Gain (Loss)
 
Gain (Loss) Reclassified from Accumulated Other Comprehensive Income into Income
2019
 
 
 
 
 
 
Foreign exchange contracts
 
(87
)
 
 
 
 
 
 
 
 
Net sales
 
(2
)
 
 
 
 
Cost of goods sold
 
(46
)
 
 
 
 
Other, Net
 
(10
)
Interest rate contracts
 
(26
)
 
Interest expense
 
(6
)
Total
 
(113
)
 
 
 
$
(64
)
2018
 
 
 
 
 
 
Foreign currency contracts
 
31

 
 
 
 
 
 
 
 
Net sales
 
(1
)
 
 
 
 
Cost of goods sold
 
14

 
 
 
 
Other, Net
 
24

Interest rate contracts
 
9

 
Interest expense
 
(4
)
Total
 
$
40

 
 
 
$
33



Significant amounts reclassified out of each component of accumulated other comprehensive income (loss) in the three and nine months ended September 30, 2019 and 2018 consisted of the following:
 
Amounts Reclassified from Other
Comprehensive Income (Loss)
 
Amount Reclassified from Other
Comprehensive Income (Loss)
 
Consolidated Statement
of Operations Line
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
 
 
2019
 
2018
 
2019
 
2018
 
 
 
(in millions)
 
(in millions)
 
 
Cash flow hedges
$
(2
)
 
$
2

 
$
2

 
$
1

 
Net sales
 
17

 
6

 
46

 
(14
)
 
Cost of goods sold
 
3

 
(10
)
 
10

 
(24
)
 
Other, net
 
3

 
2

 
6

 
4

 
Interest expense
 
(4
)
 
1

 
(10
)
 
5

 
Income taxes
 
$
17

 
$
1

 
$
54

 
$
(28
)
 
 
Change in retirement plans’ funded status:
 
 
 
 
 
 
 
 
 
Amortization of actuarial losses
$
18

 
$
20

 
$
52

 
$
62

 
*
Amortization of prior service cost
(32
)
 
(30
)
 
(91
)
 
(52
)
 
*
 
(4
)
 
(3
)
 
(14
)
 
2

 
Income taxes
 
$
(18
)
 
$
(13
)
 
$
(53
)
 
$
12

 
 
Total reclassifications, net of tax
$
(1
)
 
$
(12
)
 
$
1

 
$
(16
)
 
 
(*) These amounts are included in net periodic pension and other postretirement benefit cost. See “Note 6: Employee Benefit Plans and Postretirement Benefits” for additional information.