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Shareholders’ Equity and Comprehensive Earnings (Tables)
 6 Months Ended
Jun. 30, 2016
Shareholders’ Equity and Comprehensive Earnings  
Schedule of activity related to accumulated other comprehensive earnings (loss)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

($ in millions)

    

Foreign

Currency

Translation

    

Pension and

Other Postretirement

Benefits           

(Net of Tax)

    

Effective

Derivatives

(Net of Tax)

    

Accumulated

Other

Comprehensive

Earnings (Loss)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at December 31, 2015

 

$
(183)

 

$
(445)

 

$
(12)

 

$
(640)

 

Other comprehensive earnings (loss) before reclassifications

 

 
(1)

 

 
(33)

 

 
(3)

 

 
(37)

 

Amounts reclassified from accumulated other comprehensive earnings (loss)

 

 

 —

 

 
71

(a)

 
13

 

 
84

 

Balance at June 30, 2016

 

$
(184)

 

$
(407)

 

$
(2)

 

$
(593)

 

 

Information related to amounts recognized into net earnings from accumulated other comprehensive earnings (loss)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended June 30,

 

Six Months Ended June 30,

 

($  in millions)

    

2016

    

2015

    

2016

    

2015

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gains (losses) on cash flow hedges:

 

 

 

 

 

 

 

 

 

 

 

 

 

Commodity contracts recorded in net sales

 

$

 —

 

$
2

 

$
3

 

$
1

 

Commodity contracts recorded in cost of sales

 

 
(3)

 

 
(2)

 

 
(10)

 

 
(2)

 

Currency exchange contracts recorded in selling, general and administrative

 

 
(1)

 

 

 —

 

 
(1)

 

 
(1)

 

Cross currency swaps recorded in selling, general and administrative

 

 
1

 

 

 —

 

 
1

 

 

 —

 

Commodity and currency exchange contracts attributable to the divestment business recorded in business consolidation and other activities

 

 
(4)

 

 

 —

 

 
(4)

 

 

 —

 

Total before tax effect

 

 
(7)

 

 

 —

 

 
(11)

 

 
(2)

 

Tax benefit (expense) on amounts reclassified into earnings

 

 

 —

 

 

 —

 

 
(2)

 

 
1

 

Recognized gain (loss)

 

$
(7)

 

$

 —

 

$
(13)

 

$
(1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amortization of pension and other postretirement benefits (a):

 

 

 

 

 

 

 

 

 

 

 

 

 

Prior service income (cost)

 

$
2

 

$
1

 

$
2

 

$
1

 

Actuarial gains (losses)

 

 
(90)

 

 
(12)

 

 
(99)

 

 
(24)

 

Total before tax effect

 

 
(88)

 

 
(11)

 

 
(97)

 

 
(23)

 

Tax benefit (expense) on amounts reclassified into earnings

 

 
23

 

 
4

 

 
26

 

 
9

 

Recognized gain (loss)

 

$
(65)

 

$
(7)

 

$
(71)

 

$
(14)

 

These components are included in the computation of net periodic benefit cost included in Note 1