Changes in Accumulated Other Comprehensive Income

6 Months Ended

Jun. 30, 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 and six months endedJune 30, 2018 and 2017 were as follows:

		Foreign
		Currency
		Translation
Three Months Ended June 30, 2018 (Millions), net of tax		Adjustments
Balances as of March 31, 2018	$	(988)
Net translation loss of investments in foreign operations		(126)
Net gains related to hedges of investment in foreign operations		105
Net change in accumulated other comprehensive loss		(21)
Balances as of June 30, 2018	$	(1,009)
		Foreign
		Currency
		Translation
Six Months Ended June 30, 2018 (Millions), net of tax		Adjustments
Balances as of December 31, 2017	$	(998)
Net translation loss of investments in foreign operations		(73)
Net gains related to hedges of investment in foreign operations		62
Net change in accumulated other comprehensive loss		(11)
Balances as of June 30, 2018	$	(1,009)
		Foreign
		Currency
		Translation
Three Months Ended June 30, 2017 (Millions), net of tax		Adjustments
Balances as of March 31, 2017	$	(955)
Net translation gain of investments in foreign operations		54
Net losses related to hedges of investment in foreign operations		(40)
Net change in accumulated other comprehensive loss		14
Balances as of June 30, 2017	$	(941)
		Foreign
		Currency
		Translation
Six Months Ended June 30, 2017 (Millions), net of tax		Adjustments
Balances as of December 31, 2016	$	(1,263)
Net translation gain of investments in foreign operations(a)		490
Net losses related to hedges of investment in foreign operations		(168)
Net change in accumulated other comprehensive loss		322
Balances as of June 30, 2017	$	(941)

Includes $289 million of tax benefits recognized in the six months ended June 30, 2017.

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

		Tax (benefit) expense
		Three Months Ended				Six Months Ended
		June 30,				June 30,
(Millions)		2018		2017		2018		2017
Foreign currency translation adjustments (a)	$	(23)	$	(3)	$	(31)	$	(245)
Net investment hedges		33		(24)		19		(100)
Total tax impact	$	10	$	(27)	$	(12)	$	(345)

Includes $289 million of tax benefits recognizedin the six months endedJune 30,2017.

No amounts were reclassified out of AOCI into the Consolidated Statements of Income and Retained Earnings for the three and six months endedJune 30, 2018 and 2017.