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Accumulated Other Comprehensive Income (Loss) (Tables)
 12 Months Ended
Dec. 31, 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:
 
 
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
)
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 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.
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 year ended December 31, 2019, December 31, 2018 and December 31, 2017 (in millions):
 
 
 
 
Recognized in Net Income
For the Year Ended December 31,
 
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
 
$
(113
)
 
Net sales
 
$
—

 
 
 
 
Cost of goods sold
 
(69
)
 
 
 
 
Other, net
 
(16
)
 
 
 
 
Interest expense, net
 
(8
)
Interest rate contracts
 
(22
)
 
 
 
 
Total
 
$
(135
)
 
 
 
$
(93
)
2018
 
 
 
 
 
 
Foreign currency contracts
 
$
2

 
Net sales
 
$
(7
)
 
 
 
 
Cost of goods sold
 
15

 
 
 
 
Other, net
 
20

 
 
 
 
Interest expense, net
 
(4
)
Interest rate contracts
 
1

 
 
 
 
Total
 
$
3

 
 
 
$
24

2017
 
 
 
 
 
 
Foreign currency contracts
 
$
48

 
Net sales
 
$
6

 
 
 
 
Cost of goods sold
 
(47
)
 
 
 
 
Other, net
 
10

 
 
 
 
Interest expense, net
 
—

Interest rate contracts
 
5

 
 
 
 
Total
 
$
53

 
 
 
$
(31
)

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.