Changes in Accumulated Other Comprehensive Income

3 Months Ended

Mar. 31, 2018

Changes In Accumulated Other Comprehensive Income Disclosure [Abstract]

Changes In Accumulated Other Comprehensive Income

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 months endedMarch 31, 2018 and 2017were as follows:

		Foreign
		Currency
		Translation
2018 (Millions), net of tax		Adjustments
Balances as of December 31, 2017	$	(998)
Net translation gain of investments in foreign operations		53
Net losses related to hedges of investment in foreign operations		(43)
Net change in accumulated other comprehensive loss		10
Balances as of March 31, 2018	$	(988)
		Foreign
		Currency
		Translation
2017 (Millions), net of tax		Adjustments
Balances as of December 31, 2016	$	(1,263)
Net translation gain of investments in foreign operations(a)		436
Net losses related to hedges of investment in foreign operations		(128)
Net change in accumulated other comprehensive loss		308
Balances as of March 31, 2017	$	(955)

Includes $289 million of recognized tax benefits due to the resolution of uncertain tax position.

The following table shows the tax impact for the three months endedMarch 31 for the changes in Foreign Currency Translation Adjustments presented above:

	Tax expense (benefit)
(Millions)		2018		2017
Foreign currency translation adjustments (a)	$	(8)	$	(242)
Net investment hedges		(14)		(76)
Total tax impact	$	(22)	$	(318)

Includes $289 million of tax benefits recognized due to the resolution of uncertain tax position in the three months endedMarch 31,2017.

No amounts were reclassified out of AOCI into the Consolidated Statements of Income and Retained Earnings for the three months endedMarch 31, 2018 and 2017.