Shareholders’ Equity and Comprehensive Earnings (Tables)

9 Months Ended

Sep. 30, 2018


($ 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, 2017	$	(307)	$	(362)	$	13	$	(656)
Other comprehensive earnings (loss) before reclassifications		(156)		24		35		(97)
Amounts reclassified from accumulated other comprehensive earnings (loss)		—		25		(72)		(47)
Balance at September 30, 2018	$	(463)	$	(313)	$	(24)	$	(800)


	Three Months Ended September 30,				Nine Months Ended September 30,
($ in millions)	2018		2017		2018		2017

Gains (losses) on cash flow hedges:
Commodity contracts recorded in net sales	$	2	$	—	$	(2)	$	(3)
Commodity contracts recorded in cost of sales		19		12		47		34
Currency exchange contracts recorded in selling, general and administrative		—		1		1		(2)
Currency exchange contracts recorded in business consolidation and other activities		—		(3)		—		—
Cross-currency swaps recorded in selling, general and administrative		7		(35)		37		(119)
Cross-currency swaps recorded in interest expense		4		3		10		13
Total before tax effect		32		(22)		93		(77)
Tax benefit (expense) on amounts reclassified into earnings		(8)		15		(21)		12
Recognized gain (loss), net of tax	$	24	$	(7)	$	72	$	(65)

Amortization of pension and other postretirement benefits: (a)
Prior service income (expense)	$	—	$	(1)	$	—	$	(1)
Actuarial gains (losses) (b)		(15)		(48)		(34)		(65)
Total before tax effect		(15)		(49)		(34)		(66)
Tax benefit (expense) on amounts reclassified into earnings		4		19		9		25
Recognized gain (loss), net of tax	$	(11)	$	(30)	$	(25)	$	(41)

(a)

The pension components are included in the computation of net periodic benefit cost disclosed in Note 16.

(b)

Includes curtailment and settlement losses. Refer to Note 16 for further details.