Note 16 - Accumulated Other Comprehensive Income

6 Months Ended

Jun. 30, 2013

Disclosure Text Block [Abstract]

Comprehensive Income (Loss) Note [Text Block]

16.      Accumulated Other Comprehensive Income

A summary of changes in the components of accumulated other comprehensive income (loss), including our proportionate share of equity method investee’s accumulated other comprehensive income (loss), is as follows (in millions):

	Changes in Accumulated Other Comprehensive Income by Component (1) for the three months ended June 30, 2013
	Foreign currency translation adjustment and other		Unamortized actuarial losses and prior service costs		Net unrealized gains (losses) on investments		Net unrealized gains (losses) on designated hedges		Accumulated other comprehensive income (loss)
Beginning balance	$	669	$	(813)	$	(17)	$	29	$	(132)
Other comprehensive (loss) income before reclassifications (2)		(224)		14		2		32		(176)
Amounts reclassified from accumulated other comprehensive loss (3)				4				(18)		(14)
Equity method affiliates (4)		(72)		5		1				(66)
Net current-period other comprehensive income		(296)		23		3		14		(256)
Ending balance	$	373	$	(790)	$	(14)	$	43	$	(388)

(1) All amounts are after tax.  Amounts in parentheses indicate debits to accumulated other comprehensive income.

(2) Amounts are net of total tax expense of $(27) million, including $(20) million related to the hedges component, $(8) million related to the retirement plans component and $1 million related to the investments component.

(3) Amounts are net of total tax benefit of $11 million related to the hedges component.

(4) Tax effects related to equity method affiliates are not significant.

	Changes in Accumulated Other Comprehensive Income by Component (1) for the six months ended June 30, 2013
	Foreign currency translation adjustment and other		Unamortized actuarial losses and prior service costs		Net unrealized gains (losses) on investments		Net unrealized gains (losses) on designated hedges		Accumulated other comprehensive income (loss)
Beginning balance	$	1,174	$	(820)	$	(16)	$	18	$	356
Other comprehensive (loss) income before reclassifications (2)		(553)		14				56		(483)
Amounts reclassified from accumulated other comprehensive loss (3)				5				(32)		(27)
Equity method affiliates (4)		(248)		11		2		1		(234)
Net current-period other comprehensive income		(801)		30		2		25		(744)
Ending balance	$	373	$	(790)	$	(14)	$	43	$	(388)

(1) All amounts are after tax.  Amounts in parentheses indicate debits to accumulated other comprehensive income.

(2) Amounts are net of total tax expense of $(42) million, including $(33) million related to the hedges component, $(8) million related to the retirement plans component and $(1) million related to the investments component.

(3) Amounts are net of total tax benefit of $16 million, including $18 million related to the hedges component and $(2) million related to the retirement plans component.

(4) Tax effects related to equity method affiliates are not significant.

	Changes in Accumulated Other Comprehensive Income by Component (1) for the three months ended June 30, 2012
	Foreign currency translation adjustment and other		Unamortized actuarial losses and prior service costs		Net unrealized gains (losses) on investments		Net unrealized gains (losses) on designated hedges		Accumulated other comprehensive income (loss)
Beginning balance	$	1,254	$	(817)	$	(23)	$	1	$	415
Other comprehensive income (loss) before reclassifications (2)		70		1				(5)		66
Amounts reclassified from accumulated other comprehensive income (3)				2				(4)		(2)
Equity method affiliates (4)		(56)		5		(1)		1		(51)
Net current-period other comprehensive income		14		8		(1)		(8)		13
Ending balance	$	1,268	$	(809)	$	(24)	$	(7)	$	428

(1) All amounts are after tax.  Amounts in parentheses indicate debits to accumulated other comprehensive income.

(2) Amounts are net of total tax benefit of $3 million related to the hedges component.

(3) Amounts are net of total tax benefit of $1 million, including $2 million related to the hedges component and $(1) million related to the retirement plans component.

(4) Tax effects related to equity method affiliates are not significant.

	Changes in Accumulated Other Comprehensive Income by Component (1) for the six months ended June 30, 2012
	Foreign currency translation adjustment and other		Unamortized actuarial losses and prior service costs		Net unrealized gains (losses) on investments		Net unrealized gains (losses) on designated hedges		Accumulated other comprehensive income (loss)
Beginning balance	$	1,353	$	(819)	$	(29)	$	(29)	$	476
Other comprehensive (loss) income before reclassifications (2)		(143)		1		6		30		(106)
Amounts reclassified from accumulated other comprehensive income (3)				4		(7)		(8)		(11)
Equity method affiliates (4)		58		5		6				69
Net current-period other comprehensive income		(85)		10		5		22		(48)
Ending balance	$	1,268	$	(809)	$	(24)	$	(7)	$	428

(1) All amounts are after tax.  Amounts in parentheses indicate debits to accumulated other comprehensive income.

(2) Amounts are net of total tax expense of $(20) million, including $(17) million related to the hedges component and $(3) million related to the investments component.

(3) Amounts are net of total tax benefit of $4 million, including $4 million related to the hedges component, $3 million related to the investments component and $(3) million related to the retirement plans component.

(4) Tax effects related to equity method affiliates are not significant.

Reclassifications Out of Accumulated Other Comprehensive (Loss) Income (AOCI) by Component (1)
Details about AOCI Components	Amount reclassified from AOCI								Affected line item in the consolidated statements of income
	Three months ended June 30,				Six months ended June 30,
	2013		2012		2013		2012
Amortization of net actuarial loss	$	(4)	$	(3)	$	(8)	$	(7)	(2)
Amortization of prior service cost						1			(2)
		(4)		(3)		(7)		(7)	Total before tax
				1		2		3	Tax benefit
	$	(4)	$	(2)	$	(5)	$	(4)	Net of tax
Realized gains on investments							$	10	Other income, net
								(3)	Tax expense
								7	Net of tax
Realized gains on designated hedges	$	11	$	3	$	19	$	6	Cost of sales
		18		3		31		6	Royalties
		29		6		50		12	Total before tax
		(11)		(2)		(18)		(4)	Tax expense
		18		4		32		8	Net of tax
Total reclassifications for the period	$	14	$	2	$	27	$	11	Net of tax

(1) Amounts in parentheses indicate debits to the statement of income.

(2) These accumulated other comprehensive income components are included in net periodic pension cost.  See Note 13 – Employee Retirement Plans for additional details.