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Shareholders’ Equity (Tables)
 12 Months Ended
Dec. 31, 2016
Shareholders’ Equity  
Schedule of activity related to accumulated other comprehensive earnings (loss)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

($ in millions)

    

Foreign

Currency

Translation

(Net of Tax)

    

Pension and

Other Postretirement

Benefits           

(Net of Tax)

    

Effective

Derivatives

(Net of Tax)

    

Accumulated

Other

Comprehensive

Earnings (Loss)

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at December 31, 2014

 

$
(18)

 

$
(500)

 

$
(4)

 

$
(522)

Other comprehensive earnings (loss) before reclassifications

 

 
(165)

 

 
25

 

 
(18)

 

 
(158)

Amounts reclassified from accumulated other comprehensive earnings (loss)

 

 

 —

 

 
30

 

 
10

 

 
40

Balance at December 31, 2015

 

 
(183)

 

 
(445)

 

 
(12)

 

 
(640)

Other comprehensive earnings (loss) before reclassifications

 

 
(146)

 

 
(227)

(a)

 
46

 

 
(327)

Amounts reclassified from accumulated other comprehensive earnings (loss)

 

 

 —

 

 
82

(b)

 
(56)

 

 
26

Balance at December 31, 2016

 

$
(329)

 

$
(590)

 

$
(22)

 

$
(941)

(a)

Includes $195 million of after tax net actuarial loss at December 31, 2016, for the remeasurement of acquired plans and $38 million of after tax actuarial loss at June 30, 2016, for the remeasurement of divested plans.

(b)

Amount includes $60 million, net of tax, from plans sold with the Divestment Business.
Information related to amounts recognized into net earnings from accumulated other comprehensive earnings (loss)

 

 

 

 

 

 

 

 

 

 

 

 

 

Years Ended December 31,

($  in millions)

    

2016

    

2015

    

2014

 

 

 

 

 

 

 

 

 

 

Gains (losses) on cash flow hedges:

 

 

 

 

 

 

 

 

 

Commodity contracts recorded in net sales

 

$
(1)

 

$
5

 

$
(6)

Commodity contracts recorded in cost of sales

 

 
(7)

 

 
(23)

 

 
(27)

Currency exchange contracts recorded in selling, general and administrative

 

 
4

 

 
2

 

 

 —

Cross-currency swaps recorded in selling, general and administrative

 

 
64

 

 

 —

 

 

 —

Interest rate contracts recorded in interest expense

 

 
(1)

 

 

 —

 

 

 —

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

 

 
(5)

 

 

 —

 

 

 —

Total before tax effect

 

 
54

 

 
(16)

 

 
(33)

Tax benefit (expense) on amounts reclassified into earnings

 

 
2

 

 
6

 

 
3

Recognized gain (loss)

 

$
56

 

$
(10)

 

$
(30)

 

 

 

 

 

 

 

 

 

 

Amortization of pension and other postretirement benefits (a):

 

 

 

 

 

 

 

 

 

Prior service income (cost)

 

$
2

 

$
1

 

$
1

Actuarial gains (losses)

 

 
(35)

 

 
(48)

 

 
(37)

Effect of pension settlement

 

 
(80)

 

 

 —

 

 
(45)

Total before tax effect

 

 
(113)

 

 
(47)

 

 
(81)

Tax benefit (expense) on amounts reclassified into earnings

 

 
31

 

 
17

 

 
30

Recognized gain (loss)

 

$
(82)

 

$
(30)

 

$
(51)

(a)

These components are included in the computation of net periodic benefit cost included in Note 16.