Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The table below presents the fair value of our derivative financial instruments as well as their classification on the consolidated balance sheet at March 31, 2020 and December 31, 2019 as follows (in millions):



		March 31, 2020		December 31, 2019
Derivatives designated as	Balance Sheet Location	Fair Value
Cash flow hedging contracts	Other current and noncurrent liabilities	$	152	51

Derivative Instruments, Gain (Loss)

The amount of unrealized losses recognized in AOCI consists of the following (in millions):



Derivatives designated as hedging instruments	2020		2019
Cash flow hedging contracts
Three Months Ended March 31,	$	106	23

Schedule of Reclassifications Out of Accumulated Other Comprehensive Income (Loss) by Component

The amount of realized losses reclassified from AOCI to the statement of operations consists of the following (in millions):



Derivatives designated as hedging instruments	2020		2019
Cash flow hedging contracts
Three Months Ended March 31,	$	5	—

The tables below present further information about our reclassifications out of accumulated other comprehensive loss by component for the three months ended March 31, 2019



Three Months Ended March 31, 2019	Decrease (Increase) in Net Income			Affected Line Item in Consolidated Statement of Operations
	(Dollars in millions)
Amortization of pension & post-retirement plans⁽¹⁾
Net actuarial loss	$	57		Other income, net
Prior service cost	2			Other income, net
Total before tax	59
Income tax benefit	(15		)	Income tax expense
Net of tax	$	44

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(1)

See Note 7—Employee Benefits for additional information on our net periodic benefit expense (income) related to our pension and post-retirement plans.

The tables below present further information about our reclassifications out of accumulated other comprehensive loss by component for the three months ended March 31, 2020:



Three Months Ended March 31, 2020	Decrease (Increase) in Net Income			Affected Line Item in Consolidated Statement of Operations
	(Dollars in millions)
Interest rate swap	$	5		Interest Expense
Amortization of pension & post-retirement plans⁽¹⁾
Net actuarial loss	50			Other income, net
Prior service cost	1			Other income, net
Total before tax	56
Income tax expense	(12		)	Income tax expense
Net of tax	$	44

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(1)

See Note 7—Employee Benefits for additional information on our net periodic benefit expense (income) related to our pension and post-retirement plans.