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Accumulated Other Comprehensive Loss and Other Comprehensive Income (Loss)
 3 Months Ended
Apr. 02, 2016
Accumulated Other Comprehensive Loss and Other Comprehensive Income (Loss)  
Accumulated Other Comprehensive Loss and Other Comprehensive Income (Loss)

 

Note 11.  Accumulated Other Comprehensive Loss and Other Comprehensive Income (Loss)

 

The components of Accumulated Other Comprehensive Loss are presented below:

 

(In millions)

Pension and
Postretirement
Benefits
Adjustments

Deferred Gains
(Losses) on
Hedge
Contracts

Foreign
Currency
Translation
Adjustment

Accumulated
Other
Comprehensive
Loss

For the three months ended April 2, 2016

 

 

 

 

 

 

 

 

 

Beginning of the period

     $
(1,327)

     $
(24)

     $
(47)

     $
(1,398)

Other comprehensive income before reclassifications

—
16
24
40

Reclassified from Accumulated other comprehensive loss
21
5

—
26

 

 

 

 

 

Other comprehensive income
21
21
24
66

 

 

 

 

 

End of the period

     $
(1,306)

     $
(3)

     $
(23)

     $
(1,332)

 

 

 

 

 

 

 

 

 

For the three months ended April 4, 2015

 

 

 

 

 

 

 

 

 

Beginning of the period

     $
(1,511)

     $
(13)

     $
18

     $
(1,506)

Other comprehensive loss before reclassifications

—
(16)
(56)
(72)

Reclassified from Accumulated other comprehensive loss
24
4

—
28

 

 

 

 

 

Other comprehensive income (loss)
24
(12)
(56)
(44)

 

 

 

 

 

End of the period

     $
(1,487)

     $
(25)

     $
(38)

     $
(1,550)

 

 

 

 

 

 

 

 

 

 

The before and after-tax components of other comprehensive income (loss) are presented below:

 

 

April 2, 2016

April 4, 2015

(In millions)

Pre-Tax
Amount

Tax
(Expense)
Benefit

After-Tax
Amount

Pre-Tax
Amount

Tax
(Expense)
Benefit

After-Tax
Amount

Three Months Ended

 

 

 

 

 

 

 

 

 

 

 

 

 

Pension and postretirement benefits adjustments:

 

 

 

 

 

 

Amortization of net actuarial loss*

     $
26

     $
(9)

     $
17

     $
39

     $
(14)

     $
25

Amortization of prior service credit*
(2)
1
(1)
(2)
1
(1)

Unrealized gains
7
(2)
5

—

—

—

 

 

 

 

 

 

 

Pension and postretirement benefits adjustments, net
31
(10)
21
37
(13)
24

 

 

 

 

 

 

 

Deferred gains (losses) on hedge contracts:

 

 

 

 

 

 

Current deferrals
22
(6)
16
(21)
5
(16)

Reclassification adjustments
7
(2)
5
6
(2)
4

 

 

 

 

 

 

 

Deferred gains (losses) on hedge contracts, net
29
(8)
21
(15)
3
(12)

 

 

 

 

 

 

 

Foreign currency translation adjustments
25
(1)
24
(52)
(4)
(56)

 

 

 

 

 

 

 

Total

     $
85

     $
(19)

     $
66

     $
(30)

     $
(14)

     $
(44)

 

 

 

 

 

 

 

 

 

 

 

 

 

*These components of other comprehensive income are included in the computation of net periodic pension cost.  See Note 11 of our 2015 Annual Report on Form 10-K for additional information.