XML 45 R31.htm IDEA: XBRL DOCUMENT
v3.20.4

Accumulated Other Comprehensive Income (Loss) (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2020
Equity [Abstract] |
Schedule of accumulated other comprehensive income (loss) | The changes, net of tax, in the balances of each component of Accumulated Other Comprehensive Income ("AOCI") for the years ended December 31, 2020 and 2019, including amounts reclassified out of AOCI, are as follows:
(In millions of dollars) |  |  | Pension and Post-Retirement Plans Losses |  | Foreign Currency Translation Adjustments |  | Total
Balance as of January 1, 2020 |  |  | $ | (3,512) |  |  | $ | (1,543) |  |  | $ | (5,055) |
Other comprehensive (loss) gain before reclassifications |  |  | (739) |  |  | 559 |  |  | (180) |
Amounts reclassified from accumulated other comprehensive income (loss) |  |  | 125 |  |  | — |  |  | 125 |
Net current period other comprehensive (loss) gain |  |  | (614) |  |  | 559 |  |  | (55) |
Balance as of December 31, 2020 |  |  | $ | (4,126) |  |  | $ | (984) |  |  | $ | (5,110) |
(In millions of dollars) |  |  | Pension and Post-Retirement Plans Losses |  | Foreign Currency Translation Adjustments |  | Total
Balance as of January 1, 2019 |  |  | $ | (2,953) |  |  | $ | (1,694) |  |  | $ | (4,647) |
Other comprehensive (loss) gain before reclassifications |  |  | (643) |  |  | 151 |  |  | (492) |
Amounts reclassified from accumulated other comprehensive income (loss) |  |  | 84 |  |  | — |  |  | 84 |
Net current period other comprehensive (loss) gain |  |  | (559) |  |  | 151 |  |  | (408) |
Balance as of December 31, 2019 |  |  | $ | (3,512) |  |  | $ | (1,543) |  |  | $ | (5,055) |
The components of accumulated other comprehensive income (loss) are as follows:
(In millions of dollars) | December 31, 2020 |  | December 31, 2019
Foreign currency translation adjustments (net of deferred tax asset of $11 in 2020 and $14 in 2019, respectively) | $ | (984) |  |  | $ | (1,543) |
Net charges related to pension/post-retirement plans (net of deferred tax asset of $1,805 and $1,635 in 2020 and 2019, respectively) | (4,126) |  |  | (3,512) |
| $ | (5,110) |  |  | $ | (5,055) |
Schedule of other comprehensive income (loss) | The components of other comprehensive income (loss) for the years ended December 31, 2020, 2019 and 2018 are as follows:
For the Year Ended December 31, | 2020
(In millions of dollars) | Pre-Tax | Tax (Credit) | Net of Tax
Foreign currency translation adjustments | $ | 559 |  | $ | — |  | $ | 559 |
Pension/post-retirement plans: |  |  |
Amortization of (gains) losses included in net periodic pension cost: |  |  |
Prior service credits (a) | (2) |  | (1) |  | (1) |
Net actuarial losses (a) | 161 |  | 37 |  | 124 |
Effect of settlement (a) | 3 |  | 1 |  | 2 |
Subtotal | 162 |  | 37 |  | 125 |
Net losses arising during period | (772) |  | (177) |  | (595) |
Foreign currency translation adjustments | (163) |  | (28) |  | (135) |
Other adjustments | (11) |  | (2) |  | (9) |
Pension/post-retirement plans losses | (784) |  | (170) |  | (614) |
Other comprehensive loss | $ | (225) |  | $ | (170) |  | $ | (55) |
(a) Components of net periodic pension cost are included in other net benefit credits in the consolidated statements of income. Income tax expense on net actuarial losses are included in income tax expense.
For the Year Ended December 31, | 2019
(In millions of dollars) | Pre-Tax | Tax (Credit) | Net of Tax
Foreign currency translation adjustments | $ | 148 |  | $ | (3) |  | $ | 151 |
Pension/post-retirement plans: |  |  |
Amortization of (gains) losses included in net periodic pension cost: |  |  |
Prior service credits (a) | (2) |  | (1) |  | (1) |
Net actuarial losses (a) | 102 |  | 22 |  | 80 |
Effect of settlement (a) | 6 |  | 1 |  | 5 |
Subtotal | 106 |  | 22 |  | 84 |
Net losses arising during period | (758) |  | (154) |  | (604) |
Foreign currency translation adjustments | (50) |  | (11) |  | (39) |
Pension/post-retirement plans losses | (702) |  | (143) |  | (559) |
Other comprehensive loss | $ | (554) |  | $ | (146) |  | $ | (408) |
(a) Components of net periodic pension cost are included in other net benefit credits in the consolidated statements of income. Income tax expense on net actuarial losses are included in income tax expense.
For the Year Ended December 31, | 2018
(In millions of dollars) | Pre-Tax | Tax (Credit) | Net of Tax
Foreign currency translation adjustments | $ | (529) |  | $ | — |  | $ | (529) |
Pension/post-retirement plans: |  |  |
Amortization of (gains) losses included in net periodic pension cost: |  |  |
Prior service credits (a) | (4) |  | (1) |  | (3) |
Net actuarial losses (a) | 145 |  | 32 |  | 113 |
Effect of settlement (a) | 42 |  | 8 |  | 34 |
Subtotal | 183 |  | 39 |  | 144 |
Net gains arising during period | (374) |  | (88) |  | (286) |
Foreign currency translation adjustments | 141 |  | 25 |  | 116 |
Other adjustments | (41) |  | (6) |  | (35) |
Pension/post-retirement plans losses | (91) |  | (30) |  | (61) |
Other comprehensive loss | $ | (620) |  | $ | (30) |  | $ | (590) |
(a) Components of net periodic pension cost are included in other net benefit credits in the consolidated statements of income. Income tax expense on net actuarial losses are included in income tax expense.

X
- References No definition available. + Details
Name: | us-gaap_EquityAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of accumulated other comprehensive income (loss). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 830 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6450520&loc=d3e32583-110901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 14A -URI http://asc.fasb.org/extlink&oid=121641772&loc=SL7669686-108580 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 830 -SubTopic 30 -Section 45 -Paragraph 20 -URI http://asc.fasb.org/extlink&oid=118261656&loc=d3e32211-110900 + Details
Name: | us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of components of comprehensive income (loss). Includes, but is not limited to, foreign currency translation adjustments, foreign currency transactions designated as economic hedges of a net investment in foreign entity, gain (loss) and prior service cost (credit) for pension plans and other postretirement benefit plans. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121641772&loc=d3e526-108580 + Details
Name: | us-gaap_ScheduleOfComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration