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Accumulated Other Comprehensive Income (Loss) | 6 Months Ended
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Jun. 30, 2018
Accumulated Other Comprehensive Income (Loss) |
Accumulated Other Comprehensive Income (Loss) | Note 6 – Accumulated Other Comprehensive Income (Loss) Accumulated other comprehensive income (loss) consists of foreign currency translation adjustments, cash flow hedges associated with the forecasted issuance of long-term debt, and changes in the net actuarial gains and losses associated with pension and other postretirement benefit plans. The following table summarizes the activity within the components of accumulated other comprehensive income. Changes in accumulated other comprehensive income (loss) by component is shown on the following tables:
|  | Three Months Ended June 30, 2018 (1)
|  |  |  |  |  |  | Pension and |  |  |
|  |  |  |  |  |  | Other |  |  |
|  | Foreign |  | Cash Flow |  | Postretirement |  |  |
In millions |  | Currency |  | Hedges |  | Benefits |  | Total
Balance, March 31, 2018 |  | $ | (128) |  | $ | 325 |  | $ | (25) |  | $ | 172
Other comprehensive loss: |  |  |  |  |  |  |  |  |  |  |  |
Other comprehensive loss before reclassifications |  |  | (27) |  |  | — |  |  | — |  |  | (27)
Amounts reclassified from accumulated other comprehensive income (2) |  |  | — |  |  | (4) |  |  | — |  |  | (4)
Other comprehensive loss |  |  | (27) |  |  | (4) |  |  | — |  |  | (31)
Balance, June 30, 2018 |  | $ | (155) |  | $ | 321 |  | $ | (25) |  | $ | 141
|  | Three Months Ended June 30, 2017 (1)
|  |  |  |  |  |  |  | Pension and |  |  |
|  |  |  |  |  |  | Other |  |  |
|  | Foreign |  | Cash Flow |  | Postretirement |  |  |
|  | Currency |  | Hedges |  | Benefits |  | Total
Balance, March 31, 2017 |  | $ | (119) |  | $ | (4) |  | $ | (173) |  | $ | (296)
Other comprehensive loss: |  |  |  |  |  |  |  |  |  |  |  |
Other comprehensive loss before reclassifications |  |  | (10) |  |  | — |  |  | — |  |  | (10)
Amounts reclassified from accumulated other comprehensive income (loss) (2) |  |  | — |  |  | — |  |  | — |  |  | —
Other comprehensive loss |  |  | (10) |  |  | — |  |  | — |  |  | (10)
Balance, June 30, 2017 |  | $ | (129) |  | $ | (4) |  | $ | (173) |  | $ | (306)
|  | Six Months Ended June 30, 2018 (1)
|  |  |  |  |  |  | Pension and |  |  |
|  |  |  |  |  |  | Other |  |  |
|  | Foreign |  | Cash Flow |  | Postretirement |  |  |
|  | Currency |  | Hedges |  | Benefits |  | Total
Balance, December 31, 2017 |  | $ | (129) |  | $ | (15) |  | $ | (21) |  | $ | (165)
Reclassifications to retained earnings in accordance with ASU 2018-02 (3) |  |  | — |  |  | (3) |  |  | (4) |  |  | (7)
|  |  | (129) |  |  | (18) |  |  | (25) |  |  | (172)
Other comprehensive income (loss): |  |  |  |  |  |  |  |  |  |  |  |
Other comprehensive income (loss) before reclassifications |  |  | (26) |  |  | 344 |  |  | — |  |  | 318
Amounts reclassified from accumulated other comprehensive income (loss) (2) |  |  | — |  |  | (5) |  |  | — |  |  | (5)
Other comprehensive income (loss) |  |  | (26) |  |  | 339 |  |  | — |  |  | 313
Balance, June 30, 2018 |  | $ | (155) |  | $ | 321 |  | $ | (25) |  | $ | 141
|  | Six Months Ended June 30, 2017 (1)
|  |  |  |  |  |  |  | Pension and |  |  |
|  |  |  |  |  |  | Other |  |  |
|  | Foreign |  | Cash Flow |  | Postretirement |  |  |
|  | Currency |  | Hedges |  | Benefits |  | Total
Balance, December 31, 2016 |  | $ | (127) |  | $ | (5) |  | $ | (173) |  | $ | (305)
Other comprehensive income (loss): |  |  |  |  |  |  |  |  |  |  |  |
Other comprehensive loss before reclassifications |  |  | (2) |  |  | — |  |  | — |  |  | (2)
Amounts reclassified from accumulated other comprehensive income (loss) (2) |  |  | — |  |  | 1 |  |  | — |  |  | 1
Other comprehensive income (loss) |  |  | (2) |  |  | 1 |  |  | — |  |  | (1)
Balance, June 30, 2017 |  | $ | (129) |  | $ | (4) |  | $ | (173) |  | $ | (306)
| (1) |  | All amounts are net of tax.
| (2) |  | The amounts reclassified from accumulated other comprehensive income for cash flow hedges are recorded within interest expense, net on the condensed consolidated statements of operations. The amounts reclassified from accumulated other comprehensive income for pension and other postretirement benefits are included in other expense on the condensed consolidated statements of operations.
| (3) |  | See “Note 1 – Accounting Policies” to the condensed consolidated financial statements for additional information on the adoption of ASU 2018-02 during the first quarter of 2018.
Beginning in December 2017 and during the first quarter of 2018, the Company entered into several interest rate swap and treasury lock transactions to manage interest rate risk. These agreements were designated as cash flow hedges and were used to hedge the exposure to variability in future cash flows resulting from changes in interest rates related to the anticipated issuance of long-term debt in connection with the proposed acquisition of Aetna. On March 9, 2018, the Company issued unsecured senior notes with an aggregate principal of $40.0 billion as discussed in “Note 4 – Borrowings and Credit Agreements” to the condensed consolidated financial statements. In connection with the issuance of the Notes, the Company terminated all outstanding cash flow hedges. In connection with the hedge transactions, the Company received a net amount of $446 million from the hedge counterparties upon termination, which was recorded as a deferred gain, net of tax, of $331 million in accumulated other comprehensive income (loss) and will be reclassified as a reduction of interest expense over the life of the underlying debt. The Company expects to reclassify approximately $18 million in gains associated with these cash flow hedges into earnings within the next 12 months.

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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