XML 39 R23.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Shareholders' Equity | 12 Months Ended
--- | ---
Dec. 31, 2018
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract] |
Shareholders' Equity | Shareholders’ Equity The Company has authorized one billion shares of common stock and 500,000 shares of preferred stock, each with zero par value. No preferred stock has been issued. At December 31, 2018 and 2017, the Company had approximately 157.1 million shares and 158.7 million shares, respectively, of its common shares in treasury. Treasury stock of $5.3 billion and $5.5 billion at December 31, 2018 and 2017, respectively, is recorded at cost as a reduction of common stock. At December 31, 2018 and 2017, the foreign currency translation adjustment component of AOCI included $40 million and $59 million of after-tax losses, respectively, pertaining to foreign currency-denominated debt designated as a net investment hedge (see Note 5 for more information). The following tables set forth the changes in AOCI by component and the reclassifications out of AOCI for the years ended December 31, 2018 and 2017:
| Foreign Currency Translation Adjustment |  | Deferred Gain (Loss) on Hedging Activities |  | Pension and Other Postretirement Benefit Liabilities Adjustment |  | Unrealized Gain (Loss) on Investments |  | Accumulated Other Comprehensive Income (Loss)
|  |  |  |  | (In millions) |  |  |  |
Balance at December 31, 2016 | $ | (2,102 | ) |  | $ | 6 |  |  | $ | (521 | ) |  | $ | 19 |  |  | $ | (2,598 | )
Other comprehensive income before reclassifications | 690 |  |  | (35 | ) |  | 243 |  |  | — |  |  | 898 |
Amounts reclassified from AOCI | — |  |  | 47 |  |  | 55 |  |  | (1 | ) |  | 101 |
Tax effect | 59 |  |  | (1 | ) |  | (98 | ) |  | 2 |  |  | (38 | )
Net of tax amount | 749 |  |  | 11 |  |  | 200 |  |  | 1 |  |  | 961 |
Balance at December 31, 2017 | $ | (1,353 | ) |  | $ | 17 |  |  | $ | (321 | ) |  | $ | 20 |  |  | $ | (1,637 | )
Other comprehensive income before reclassifications | (580 | ) |  | (19 | ) |  | 124 |  |  | (2 | ) |  | (477 | )
Amounts reclassified from AOCI | (1 | ) |  | 76 |  |  | 32 |  |  | (2 | ) |  | 105 |
Tax effect | (28 | ) |  | (13 | ) |  | (55 | ) |  | (1 | ) |  | (97 | )
Net of tax amount | (609 | ) |  | 44 |  |  | 101 |  |  | (5 | ) |  | (469 | )
Balance at December 31, 2018 | $ | (1,962 | ) |  | $ | 61 |  |  | $ | (220 | ) |  | $ | 15 |  |  | $ | (2,106 | )
The change in foreign currency translation adjustment in 2018 is primarily due to the U.S. dollar appreciation, impacting the Euro and British Pound-denominated equities of the Company’s foreign subsidiaries while the change in 2017 is primarily due to the U.S. dollar depreciation, impacting the Euro and British Pound-denominated equities of the Company’s foreign subsidiaries.
| Amounts reclassified from AOCI Year Ended December 31 | Affected line item in the consolidated statement of
Details about AOCI components | 2018 | 2017 | 2016 | earnings
| (In millions) |
Foreign currency translation adjustment |  |  |  |
| $ | (1 | ) | $ | — |  | $ | (75 | ) | Other income/expense
| — |  | — |  | — |  | Tax
| $ | (1 | ) | $ | — |  | $ | (75 | ) | Net of tax
Deferred loss (gain) on hedging activities |  |  |  |
| $ | 113 |  | $ | 45 |  | $ | 82 |  | Cost of products sold
| (36 | ) | 2 |  | 18 |  | Other income/expense
| (1 | ) | (1 | ) | 2 |  | Interest expense
| — |  | 1 |  | 35 |  | Revenues
| 76 |  | 47 |  | 137 |  | Total before tax
| (18 | ) | (18 | ) | (52 | ) | Tax on reclassifications
| $ | 58 |  | $ | 29 |  | $ | 85 |  | Net of tax
Pension liability adjustment |  |  |  |
Amortization of defined benefit pension items: |  |  |  |
Prior service losses (credit) | $ | (33 | ) | $ | (57 | ) | $ | (17 | ) | Other (income) expense - net
Actuarial losses | 65 |  | 112 |  | 44 |  | Other (income) expense - net
| 32 |  | 55 |  | 27 |  | Total before tax
| (8 | ) | (29 | ) | (5 | ) | Tax on reclassifications
| $ | 24 |  | $ | 26 |  | $ | 22 |  | Net of tax
Unrealized loss (gain) on investments |  |  |  |
| $ | (2 | ) | $ | (1 | ) | $ | — |  | Other income/expense
| — |  | — |  | 6 |  | Asset impairment, exit, and restructuring costs
| — |  | — |  | — |  | Tax on reclassifications
| $ | (2 | ) | $ | (1 | ) | $ | 6 |  | Net of tax

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

X
- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
Name: | us-gaap_StockholdersEquityNoteDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration