Accumulated Other Comprehensive Loss (Tables)

6 Months Ended

Jun. 30, 2020

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

Summary of the Entity's Accumulated Other Comprehensive Income (Loss) by Component

The table below summarizes changes in accumulated other comprehensive loss recorded on our consolidated balance sheet by component for the six months ended June 30, 2020:

	Pension Plans		Post-Retirement Benefit Plans	Foreign Currency Translation Adjustment and Other	Interest Rate Swap	Total
	(Dollars in millions)
Balance at December 31, 2019	$	(2,229)	(184)	(228)	(39)	(2,680)
Other comprehensive loss before reclassifications	—		—	(230)	(88)	(318)
Amounts reclassified from accumulated other comprehensive loss	74		6	—	16	96
Net current-period other comprehensive income (loss)	74		6	(230)	(72)	(222)
Balance at June 30, 2020	$	(2,155)	(178)	(458)	(111)	(2,902)

The table below summarizes changes in accumulated other comprehensive loss recorded on our consolidated balance sheets by component for the six months ended June 30, 2019:

	Pension Plans		Post-Retirement Benefit Plans	Foreign Currency Translation Adjustment and Other	Interest Rate Swap	Total
	(Dollars in millions)
Balance at December 31, 2018	$	(2,173)	(58)	(230)	—	(2,461)
Other comprehensive loss before reclassifications	—		—	(3)	(43)	(46)
Amounts reclassified from accumulated other comprehensive loss	82		6	—	—	88
Net current-period other comprehensive income (loss)	82		6	(3)	(43)	42
Balance at June 30, 2019	$	(2,091)	(52)	(233)	(43)	(2,419)

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 June 30,	$	16	—
Six Months Ended June 30,	$	21	—

The tables below present further information about our reclassifications out of accumulated other comprehensive loss by component for the three and six months ended June 30, 2020:

Three Months Ended June 30, 2020	Decrease (Increase) in Net Income		Affected Line Item in Consolidated Statement of Operations
	(Dollars in millions)
Interest rate swaps	$	16	Interest expense
Income tax expense	(5)		Income tax expense
Net of tax	$	11
Amortization of pension & post-retirement plans(1)
Net actuarial loss	$	52	Other income, net
Prior service cost	3		Other income, net
Total before tax	55
Income tax expense	(14)		Income tax expense
Net of tax	$	41

Six Months Ended June 30, 2020	Decrease (Increase) in Net Income		Affected Line Item in Consolidated Statement of Operations
	(Dollars in millions)
Interest rate swaps	$	21	Interest expense
Income tax expense	(5)		Income tax expense
Net of tax	$	16
Amortization of pension & post-retirement plans (1)
Net actuarial loss	$	102	Other income, net
Prior service cost	4		Other income, net
Total before tax	106
Income tax expense	(26)		Income tax expense
Net of tax	$	80

⁽¹⁾See Note 7—Employee Benefits for additional information on our net periodic benefit (income) expense 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 and six months ended June 30, 2019

Three Months Ended June 30, 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	$	56	Other income, net
Prior service cost	2		Other income, net
Total before tax	58
Income tax benefit	(14)		Income tax expense
Net of tax	$	44

Six Months Ended June 30, 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	$	113	Other income, net
Prior service cost	4		Other income, net
Total before tax	117
Income tax benefit	(29)		Income tax expense
Net of tax	$	88

⁽¹⁾See Note 7—Employee Benefits for additional information on our net periodic benefit (income) expense related to our pension and post-retirement plans.