Accumulated Other Comprehensive Income (AOCI)

6 Months Ended

Jun. 30, 2017

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 and six months ended June 30, 2017 and the reclassifications out of AOCI for the three and six months ended June 30, 2017 and 2016:

	Three months ended June 30, 2017
	Foreign Currency Translation Adjustment			Deferred Gain (Loss) on Hedging Activities			Pension Liability Adjustment			Unrealized Gain (Loss) on Investments			Total
	(In millions)
Balance at March 31, 2017	$	(2,078	)	$	6		$	(515	)	$	13		$	(2,574	)
Other comprehensive income (loss) before reclassifications	361			30			(6		)	1			386
Amounts reclassified from AOCI	—			5			13			—			18
Tax effect	33			(2		)	(2		)	—			29
Net current period other comprehensive income	394			33			5			1			433
Balance at June 30, 2017	$	(1,684	)	$	39		$	(510	)	$	14		$	(2,141	)
	Six months ended June 30, 2017
	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, 2016	$	(2,102	)	$	6		$	(521	)	$	19		$	(2,598	)
Other comprehensive income before reclassifications	382			31			(9		)	(5		)	399
Amounts reclassified from AOCI	—			7			28			—			35
Tax effect	36			(5		)	(8		)	—			23
Net current period other comprehensive income	418			33			11			(5		)	457
Balance at June 30, 2017	$	(1,684	)	$	39		$	(510	)	$	14		$	(2,141	)

	Amount reclassified from AOCI
	Three months ended						Six months ended
Details about AOCI components	June 30, 2017			June 30, 2016			June 30 2017			June 30 2016			Affected line item in the consolidated statement of earnings
	(In millions)
Foreign currency translation adjustment
	$	—		$	(73	)	$	—		$	(73	)	Other income/expense
	—			—			—			—			Tax
	$	—		$	(73	)	$	—		$	(73	)	Net of tax
Deferred loss (gain) on hedging activities
	$	6		$	5		$	5		$	24		Cost of products sold
	—			8			2			22			Other income/expense
	(1		)	6			—			5			Revenues
	5			19			7			51			Total before tax
	(2		)	(8		)	(3		)	(19		)	Tax
	$	3		$	11		$	4		$	32		Net of tax
Pension liability adjustment
Amortization of defined benefit pension items:
Prior service credit	$	(3	)	$	(3	)	$	(6	)	$	(7	)	Selling, general, and administrative expenses
Actuarial losses	16			15			34			29			Selling, general, and administrative expenses
	13			12			28			22			Total before tax
	(4		)	(2		)	(10		)	(3		)	Tax
	$	9		$	10		$	18		$	19		Net of tax