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ACCUMULATED OTHER COMPREHENSIVE INCOME (Tables)

6 Months Ended

Jun. 30, 2020

Equity [Abstract]

Summary of Changes in AOCI by Component

The following table is a net-of-tax summary of the changes in AOCI by component for the six months ended June 30, 2020 and 2019.

(in millions)			CTA			Pension and OPEB plans			Hedging activities			Total
Gains (losses)
Balance as of December 31, 2019			$	(2,954)		$	(715)		$	(41)		$	(3,710)
Other comprehensive income (loss) before reclassifications			(170)			2			(131)			(299)
Amounts reclassified from AOCI (a)			—			24			(3)			21
Net other comprehensive (loss) income			(170)			26			(134)			(278)
Balance as of June 30, 2020			$	(3,124)		$	(689)		$	(175)		$	(3,988)

			As Restated
(in millions)			CTA			Pension and OPEB plans			Hedging activities			Total
Gains (losses)
Balance as of December 31, 2018			$	(2,868)		$	(954)		$	(1)		$	(3,823)
Adoption of new accounting standard			9			(169)			(1)			(161)
Other comprehensive income (loss) before reclassifications			(95)			7			(26)			(114)
Amounts reclassified from AOCI (a)			—			13			(1)			12
Net other comprehensive (loss) income			(95)			20			(27)			(102)
Balance as of June 30, 2019			$	(2,954)		$	(1,103)		$	(29)		$	(4,086)

(a) See table below for details about these reclassifications.

Summary of Reclassification from AOCI to Net Income

The following is a summary of the amounts reclassified from AOCI to net income during the three and six months ended June 30, 2020 and 2019.

			Amounts reclassified from AOCI (a)
(in millions)			Three months ended June 30, 2020			Six months ended June 30, 2020			Location of impact in income statement
Amortization of pension and OPEB items
Amortization of net losses and prior service costs or credits			$	(15)		$	(30)		Other (income) expense, net
Less: Tax effect			3			6			Income tax expense
			$	(12)		$	(24)		Net of tax
Gains on hedging activities
Foreign exchange contracts			$	5		$	4		Cost of sales
Less: Tax effect			(1)			(1)			Income tax expense
			$	4		$	3		Net of tax
Total reclassifications for the period			$	(8)		$	(21)		Total net of tax

			Amounts reclassified from AOCI (a)
(in millions)			Three months ended June 30, 2019			Six months ended June 30, 2019			Location of impact in income statement
Amortization of pension and OPEB items
Amortization of net losses and prior service costs or credits			$	(7)		$	(15)		Other (income) expense, net
Less: Tax effect			1			2			Income tax expense
			$	(6)		$	(13)		Net of tax
Gains on hedging activities
Foreign exchange contracts			$	1		$	1		Cost of sales
Less: Tax effect			—			—			Income tax expense
			$	1		$	1		Net of tax
Total reclassifications for the period			$	(5)		$	(12)		Total net of tax

(a) Amounts in parentheses indicate reductions to net income.

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Tabular disclosure of information about items reclassified out of accumulated other comprehensive income (loss).

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Tabular disclosure of the components of accumulated other comprehensive income (loss).

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Reference 1: 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=118930883&loc=SL7669686-108580

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