Changes in Accumulated Other Comprehensive Income

9 Months Ended

Sep. 30, 2017

Changes In Accumulated Other Comprehensive Income Disclosure [Abstract]

Changes In Accumulated Other Comprehensive Loss

7. Changes in Accumulated Other Comprehensive Income

AOCI is comprised of items that have not been recognized in earnings but may be recognized in earnings in the future when certain events occur. Changes in Foreign Currency Translation Adjustments for the three and nine months endedSeptember 30, 2017 and 2016 were as follows:

		Foreign
		Currency
		Translation
Three Months Ended September 30, 2017 (Millions), net of tax		Adjustments
Balances as of June 30, 2017	$	(941)
Net translation gain of investments in foreign operations		146
Net losses related to hedges of investment in foreign operations		(95)
Net change in accumulated other comprehensive loss		51
Balances as of September 30, 2017	$	(890)
		Foreign
		Currency
		Translation
Nine Months Ended September 30, 2017 (Millions), net of tax		Adjustments
Balances as of December 31, 2016	$	(1,263)
Net translation gain of investments in foreign operations(a)		636
Net losses related to hedges of investment in foreign operations		(263)
Net change in accumulated other comprehensive loss		373
Balances as of September 30, 2017	$	(890)
(a) Includes $289 million of recognized tax benefits (Refer to Note 8).
		Foreign
		Currency
		Translation
Three Months Ended September 30, 2016 (Millions), net of tax		Adjustments
Balances as of June 30, 2016	$	(1,188)
Net translation gain of investments in foreign operations		30
Net losses related to hedges of investment in foreign operations		(29)
Net change in accumulated other comprehensive loss		1
Balances as of September 30, 2016	$	(1,187)
		Foreign
		Currency
		Translation
Nine Months Ended September 30, 2016 (Millions), net of tax		Adjustments
Balances as of December 31, 2015	$	(1,156)
Net translation loss of investments in foreign operations		(3)
Net losses related to hedges of investment in foreign operations		(28)
Net change in accumulated other comprehensive loss		(31)
Balances as of September 30, 2016	$	(1,187)

The following table shows the tax impact for the three and nine months endedSeptember 30 for the changes in Foreign Currency Translation Adjustments presented above:

		Tax (benefit) expense
		Three Months Ended				Nine Months Ended
		September 30,				September 30,
(Millions)		2017		2016		2017		2016
Foreign currency translation adjustments (a)	$	(64)	$	(17)	$	(409)	$	32
Total tax impact	$	(64)	$	(17)	$	(409)	$	32

Includes $289 million of tax benefits recognized in the nine months endedSeptember 30,2017 (Refer to Note 8).

No amounts were reclassified out of AOCI into the Consolidated Statements of Income and Retained Earnings for the three and nine months endedSeptember 30, 2017 and 2016.