XML 40 R26.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Accumulated Other Comprehensive Income (Loss)
 12 Months Ended
Dec. 31, 2019
Equity [Abstract]  
Accumulated Other Comprehensive Income (Loss) Accumulated Other Comprehensive Income (Loss)
The Company’s share of comprehensive income (loss) includes net income plus other comprehensive income, which includes changes in fair value of certain derivatives designated as cash flow hedges, certain changes in pension and other retirement benefit plans, foreign currency translation gains and losses, changes in the fair value of available-for-sale securities, the Company’s share of other comprehensive income of entities accounted for using the equity method, and reclassifications for amounts included in net income less net income and other comprehensive income attributable to the noncontrolling interest. For more information on the Company’s derivative instruments, see “Note 15: Financial Instruments”. For more information on the Company’s pensions and retirement benefit obligations, see “Note 12: Employee Benefit Plans and Postretirement Benefits”. The Company’s other comprehensive income (loss) amounts are aggregated within accumulated other comprehensive income (loss). The tax effect for each component of other comprehensive income (loss) consisted of the following:
 
 
Year Ended December 31, 2019
(in millions)
 
Gross
Amount
 
Income
Taxes
 
Net
Amount
Unrealized gain (loss) on cash flow hedges
 
$
(42
)
 
$
10

 
$
(32
)
Changes in retirement plans’ funded status
 
(115
)
 
3

 
(112
)
Foreign currency translation
 
71

 
—

 
71

Share of other comprehensive loss of entities using the equity method
 
(8
)
 
—

 
(8
)
Other comprehensive loss
 
$
(94
)

$
13


$
(81
)

 
 
Year Ended December 31, 2018
(in millions)
 
Gross
Amount
 
Income
Taxes
 
Net
Amount
Unrealized gain (loss) on cash flow hedges
 
$
(21
)
 
$
(2
)
 
$
(23
)
Changes in retirement plans’ funded status
 
620

 
(143
)
 
477

Foreign currency translation
 
(317
)
 
—

 
(317
)
Share of other comprehensive loss of entities using the equity method
 
(35
)
 
—

 
(35
)
Other comprehensive income
 
$
247


$
(145
)

$
102


 
 
Year Ended December 31, 2017
(in millions)
 
Gross
Amount
 
Income
Taxes
 
Net
Amount
Unrealized gain (loss) on cash flow hedges
 
$
84

 
$
5

 
$
89

Changes in retirement plans’ funded status
 
116

 
(30
)
 
86

Foreign currency translation
 
(414
)
 
—

 
(414
)
Share of other comprehensive loss of entities using the equity method
 
32

 
—

 
32

Other comprehensive loss
 
$
(182
)

$
(25
)

$
(207
)

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 of
Entities Using
the Equity
Method
 
Total
Balance, December 31, 2016
 
$
(88
)
 
$
(1,036
)
 
$
(485
)
 
$
(153
)
 
$
(1,762
)
Other comprehensive income (loss), before reclassifications
 
56

 
13

 
(414
)
 
35

 
(310
)
Amounts reclassified from other comprehensive income
 
33

 
73

 
—

 
—

 
106

Other comprehensive income (loss)1
 
89


86


(414
)

35


(204
)
Balance, December 31, 2017
 
1


(950
)

(899
)

$
(118
)

$
(1,966
)
Other comprehensive income (loss), before reclassifications
 
(1
)
 
473

 
(317
)
 
(30
)
 
125

Amounts reclassified from other comprehensive income (loss)
 
(22
)
 
4

 
—

 
—

 
(18
)
Other comprehensive income (loss)1
 
(23
)

477


(317
)

(30
)

107

Balance, December 31, 2018
 
$
(22
)

$
(473
)

$
(1,216
)

$
(148
)

$
(1,859
)
Other comprehensive income (loss), before reclassifications
 
(111
)
 
(68
)
 
71

 
(5
)
 
(113
)
Amounts reclassified from other comprehensive income
 
79

 
(44
)
 
—

 
—

 
35

Other comprehensive income (loss)1
 
(32
)

(112
)

71


(5
)

(78
)
Reclassification of certain tax effects
 
—

 
(65
)
 
—

 
—

 
(65
)
Balance, December 31, 2019
 
$
(54
)

(650
)

$
(1,145
)

$
(153
)

$
(2,002
)
 
(1)
Excluded from the table above is other comprehensive (income) loss allocated to noncontrolling interests of $(3) million, $(5) million and $(3) million for the years ended December 31, 2019, 2018 and 2017, respectively.

Significant amounts reclassified out of each component of accumulated other comprehensive income (loss) in December 31, 2019 and 2018 consisted of the following:
 
 
Amount Reclassified from Other
Comprehensive Income (Loss)
 
Consolidated Statement
of Operations line
 
 
2019
 
2018
 
 
 
 
(in millions)
 
 
Cash flow hedges
 
$
—

 
$
7

 
Net sales
 
 
69

 
(15
)
 
Cost of goods sold
 
 
16

 
(20
)
 
Other, net
 
 
8

 
4

 
Interest expense
 
 
(14
)
 
2

 
Income taxes
 
 
$
79


$
(22
)
 
 
Change in retirement plans’ funded status:
 
 
 
 
 
 
Amortization of actuarial losses
 
$
79

 
$
85

 
*
Amortization of prior service cost
 
(123
)
 
(82
)
 
*
 
 
—

 
1

 
Income taxes
 
 
$
(44
)

$
4

 
 
Total reclassifications, net of tax
 
$
35


$
(18
)
 
 
 
(*)
These amounts are included in net periodic pension and other postretirement benefit cost. See “Note 12: Employee Benefit Plans and Postretirement Benefits” for additional information.