Accumulated Other Comprehensive Income (AOCI)

3 Months Ended

Mar. 31, 2016

Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]

Accumulated Other Comprehensive Income (AOCI)

Accumulated Other Comprehensive Income (AOCI)

The following tables set forth the changes in AOCI by component for the three months ended March 31, 2016 and the reclassifications out of AOCI for the three months ended March 31, 2016 and 2015:

	Three months ended March 31, 2016
	Foreign Currency Translation Adjustment			Deferred Gain (Loss) on Hedging Activities			Pension Liability Adjustment			Unrealized Gain (Loss) on Investments			Total
	(In millions)
Balance at December 31, 2015	$	(1,626	)	$	(15	)	$	(523	)	$	18		$	(2,146	)
Other comprehensive income (loss) before reclassifications	202			(22		)	(9		)	(33		)	138
Amounts reclassified from AOCI	—			32			10			—			42
Tax effect	23			(2		)	—			(2		)	19
Net current period other comprehensive income	225			8			1			(35		)	199
Balance at March 31, 2016	$	(1,401	)	$	(7	)	$	(522	)	$	(17	)	$	(1,947	)

The current period change in foreign currency translation adjustment is primarily due to U.S. dollar depreciation, mainly impacting the Euro-denominated equity of the Company’s foreign subsidiaries.

	Amount reclassified from AOCI
	Three months ended
Details about AOCI components	March 31, 2016			March 31, 2015			Affected line item in the consolidated statement of earnings
	(In millions)
Deferred loss (gain) on hedging activities
	$	19		$	—		Cost of products sold
	14			(17		)	Other income/expense
	(1		)	(47		)	Revenues
	32			(64		)	Total before tax
	(11		)	24			Tax
	$	21		$	(40	)	Net of tax
Pension liability adjustment
Amortization of defined benefit pension items:
Prior service credit	$	(4	)	$	(2	)
Actuarial losses	14			27
	10			25			Total before tax
	(1		)	(17		)	Tax
	$	9		$	8		Net of tax