Shareholders’ Equity and Comprehensive Earnings

3 Months Ended

Mar. 31, 2017

Shareholders’ Equity

Comprehensive Income (Loss) Note [Text Block]

14.    Shareholders’ Equity and Comprehensive Earnings

Accumulated Other Comprehensive Earnings (Loss)

The activity related to accumulated other comprehensive earnings (loss) was as follows:

($ 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, 2016	$	(329)	$	(590)	$	(22)	$	(941)
Other comprehensive earnings (loss) before reclassifications		69		(4)		33		98
Amounts reclassified from accumulated other comprehensive earnings (loss)		—		6		24		30
Balance at March 31, 2017	$	(260)	$	(588)	$	35	$	(813)

The following table provides additional details of the amounts recognized into net earnings from accumulated other comprehensive earnings (loss):

	Three Months Ended March 31,
($  in millions)	2017		2016
Gains (losses) on cash flow hedges:
Commodity contracts recorded in net sales	$	(3)	$	3
Commodity contracts recorded in cost of sales		8		(7)
Currency exchange contracts recorded in business consolidation and other activities		3		(1)
Cross currency swaps recorded in selling, general and administrative		(17)		—
Total before tax effect		(9)		(5)
Tax benefit (expense) on amounts reclassified into earnings		(15)		1
Recognized gain (loss)	$	(24)	$	(4)
Amortization of pension and other postretirement benefits (a):
Prior service income (expense)	$	—	$	1
Actuarial gains (losses)		(9)		(9)
Total before tax effect		(9)		(8)
Tax benefit (expense) on amounts reclassified into earnings		3		3
Recognized gain (loss)	$	(6)	$	(5)

(a) The pension components are included in the computation of net periodic benefit cost included in Note 13.