Accumulated Other Comprehensive Income (Tables)

3 Months Ended

Mar. 31, 2013

Accumulated Other Comprehensive Income (Loss) [Line Items]

Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]


15.	Accumulated Other Comprehensive Income



(Millions)	Unrealized Currency Translation Adjustments					Pension and Other Postretirement Benefit Adjustments					Unrealized Gain (Loss) on Derivatives						Accumulated Other Comprehensive (Loss) Income
Balance, December 31, 2012			$	6				$	(1,597	)				$	(75	)			$	(1,666	)
Current year deferrals to AOCI	(128	)				127					(3	)					(4	)
Separation and Merger Transaction	—					33	⁽³⁾				4		⁽³⁾				37
Reclassifications from AOCI to Net income	—					21	⁽¹⁾				4		⁽²⁾				25
Net Change			(128		)			181						5					58
Balance, March 31, 2013			$	(122	)			$	(1,416	)				$	(70	)			$	(1,608	)

(1) - Reclassifications from AOCI are included in the computation of net periodic pension cost (See Note 13, "Pension and Other Postretirement Benefits").

(2) - Reclassifications from AOCI are included in the gain or loss recognized on cash flow hedges (See Note 17, "Derivative Financial Instruments and Hedge Activities").

(3) Amounts in AOCI related to the commodity chemicals business were removed from the balance sheet in connection with recording the gain on the separation and merger of this business (See Note 5).


15.	Accumulated Other Comprehensive Income



(Millions)	Unrealized Currency Translation Adjustments					Pension and Other Postretirement Benefit Adjustments					Unrealized Gain (Loss) on Derivatives						Accumulated Other Comprehensive (Loss) Income
Balance, December 31, 2012			$	6				$	(1,597	)				$	(75	)			$	(1,666	)
Current year deferrals to AOCI	(128	)				127					(3	)					(4	)
Separation and Merger Transaction	—					33	⁽³⁾				4		⁽³⁾				37
Reclassifications from AOCI to Net income	—					21	⁽¹⁾				4		⁽²⁾				25
Net Change			(128		)			181						5					58
Balance, March 31, 2013			$	(122	)			$	(1,416	)				$	(70	)			$	(1,608	)

(1) - Reclassifications from AOCI are included in the computation of net periodic pension cost (See Note 13, "Pension and Other Postretirement Benefits").

(2) - Reclassifications from AOCI are included in the gain or loss recognized on cash flow hedges (See Note 17, "Derivative Financial Instruments and Hedge Activities").

(3) Amounts in AOCI related to the commodity chemicals business were removed from the balance sheet in connection with recording the gain on the separation and merger of this business (See Note 5).

With the exception of unrealized currency translation adjustments, all other components of accumulated other comprehensive loss are reported net of tax. Unrealized currency translation adjustments related to translation of foreign denominated balance sheets are not presented net of tax given that no deferred U.S. income taxes have been provided on undistributed earnings of non-U.S. subsidiaries because they are deemed to be reinvested for an indefinite period of time. The tax cost related to unrealized currency translation adjustments other than translation of foreign denominated balance sheets for the period ended March 31, 2013 was $15 million.

The tax cost related to the adjustment for pension and other postretirement benefits for the period ended March 31, 2013 was approximately $70 million. The cumulative tax benefit related to the adjustment for pension and other postretirement benefits at March 31, 2013 and December 31, 2012 was approximately $890 million and $960 million, respectively. The tax cost related to the change in the unrealized gain on derivatives for the period ended March 31, 2013 was $4 million.