XML 48 R34.htm IDEA: XBRL DOCUMENT v3.5.0.2
Accumulated Other Comrehensive Income (Loss) (Tables)
3 Months Ended
Jul. 02, 2016
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Schedule of Accumulated Other Comprehensive Income (Loss)
The following table presents the components of other comprehensive income (loss), net of tax, accumulated in equity:
 
 
Foreign Currency Translation Gains
(Losses)(a)
 
Net Unrealized Gains (Losses) on Cash Flow Hedges(b)
 
Net Unrealized Losses on Defined
Benefit Plans(c)
 
Total Accumulated Other Comprehensive Income (Loss)
 
 
(millions)
Balance at March 28, 2015
 
$
(193
)
 
$
43

 
$
(15
)
 
$
(165
)
Other comprehensive income (loss), net of tax:
 
 
 
 
 
 
 
 
OCI before reclassifications
 
19

 
(1
)
 

 
18

Amounts reclassified from AOCI to earnings
 

 
(7
)
 

 
(7
)
Other comprehensive income (loss), net of tax
 
19

 
(8
)
 

 
11

Balance at June 27, 2015
 
$
(174
)
 
$
35

 
$
(15
)
 
$
(154
)
 
 
 
 
 
 
 
 
 
Balance at April 2, 2016
 
$
(157
)
 
$
(12
)
 
$
(12
)
 
$
(181
)
Other comprehensive income (loss), net of tax:
 
 
 
 
 
 
 
 
OCI before reclassifications
 
(9
)
 
(3
)
 

 
(12
)
Amounts reclassified from AOCI to earnings
 

 
1

 

 
1

Other comprehensive loss, net of tax
 
(9
)
 
(2
)
 

 
(11
)
Balance at July 2, 2016
 
$
(166
)
 
$
(14
)
 
$
(12
)
 
$
(192
)
 
(a)
OCI before reclassifications to earnings related to foreign currency translation gains (losses) includes an income tax provision of $4 million for the three months ended July 2, 2016, and includes an income tax benefit of $4 million for the three-month period ended June 27, 2015. OCI before reclassifications to earnings for the three-month periods ended July 2, 2016 and June 27, 2015 include a gain of $8 million (net of a $5 million income tax provision) and a loss of $7 million (net of a $5 million income tax benefit), respectively, related to the effective portion of changes in the fair values of the Cross-Currency Swaps designated as hedges of the Company's net investment in certain of its European subsidiaries (see Note 12).
(b) 
OCI before reclassifications to earnings related to net unrealized gains (losses) on cash flow hedges is net of an income tax benefit of $2 million for the three months ended July 2, 2016. The tax effect on OCI before reclassifications to earnings for the three months ended June 27, 2015 was immaterial. The tax effects on amounts reclassified from AOCI to earnings are presented in a table below.
(c) 
Activity is presented net of taxes, which were immaterial for both periods presented.
Reclassification out of Accumulated Other Comprehensive Income (Loss)
The following table presents reclassifications from AOCI to earnings for cash flow hedges, by component:
 
 
Three Months Ended
 
Location of Gains (Losses)
Reclassified from AOCI
to Earnings
 
 
July 2,
2016
 
June 27,
2015
 
 
 
(millions)
 
 
Gains (losses) on cash flow hedges(a):
 
 
 
 
 
 
    FC  Inventory purchases
 
$
3

 
$
7

 
Cost of goods sold
    FC  Other
 
(5
)
 

 
Foreign currency gains (losses)
    Tax effect
 
1

 

 
Provision for income taxes
        Net of tax
 
$
(1
)
 
$
7

 
 
 
(a) 
FC = Forward foreign currency exchange contracts.