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Accumulated Other Comprehensive Income (Loss) (Tables) | 3 Months Ended
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Mar. 31, 2021
Equity [Abstract] |
Components of Accumulated Other Comprehensive Loss | The following table displays the changes in Accumulated Other Comprehensive Income (Loss) (“AOCL”) by component, net of tax, for the three months ended March 31, 2021 (in millions):
| Cumulative Translation Adjustment |  | Pension and Postretirement Costs |  | Derivative Financial Instruments |  | AOCL
Balance at December 31, 2020 | $ | (481) |  |  | $ | (356) |  |  | $ | (43) |  |  | $ | (880) |
Other comprehensive income (loss) before reclassifications | (44) |  |  | 1 |  |  | 2 |  |  | (41) |
Amounts reclassified to earnings | — |  |  | 4 |  |  | 3 |  |  | 7 |
Net current period other comprehensive income (loss) | (44) |  |  | 5 |  |  | 5 |  |  | (34) |
Balance at March 31, 2021 | $ | (525) |  |  | $ | (351) |  |  | $ | (38) |  |  | $ | (914) |
Reclassification from AOCL to Results of Operations | Reclassifications from AOCL to the results of operations for the three months ended March 31, 2021 and 2020 were pre-tax expense of (in millions):
|  |  | Three Months Ended March 31,
|  |  |  |  | 2021 |  | 2020
Pension and postretirement benefit plans (1) |  |  |  |  | $ | 5 |  |  | $ | 6 |
Derivative financial instruments for effective cash flow hedges (2) |  |  |  |  | 4 |  |  | 1 |
(1)Primarily represents the amortization of net actuarial losses and plan settlements recorded in cost of products sold, selling, general and administrative expenses (“SG&A”) and other (income) expense, net in the Consolidated Statements of Operations. See Footnote 10 for further information. (2)See Footnote 9 for further information.
Schedule of Income Tax (Provision) Benefit Allocated to Components of OCI | The income tax provision (benefit) allocated to the components of AOCL for the periods indicated are as follows (in millions):
|  |  | Three Months Ended March 31,
|  |  |  |  | 2021 |  | 2020
Foreign currency translation adjustments |  |  |  |  | $ | 12 |  |  | $ | 7 |
Pension and postretirement benefit costs |  |  |  |  | 1 |  |  | (3) |
Derivative financial instruments |  |  |  |  | 2 |  |  | 9 |
Income tax provision related to AOCL |  |  |  |  | $ | 15 |  |  | $ | 13 |

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