10-K
UNION CARBIDE CORP /NEW/ filed this Form 10-K on 02/15/2018
Entire Document
 

NOTE 15 - ACCUMULATED OTHER COMPREHENSIVE LOSS
The following table summarizes the changes and after-tax balances of each component of accumulated other comprehensive loss for the years ended December 31, 2017, 2016 and 2015:

Accumulated Other Comprehensive Loss
Cumulative Translation Adj
Pension and Other Postretire Benefits
Accum Other Comp Loss
In millions
2015
 
 
 
Balance at Jan 1, 2015
$
(63
)
$
(1,180
)
$
(1,243
)
Other comprehensive income (loss) before reclassifications
2

(34
)
(32
)
Amounts reclassified from accumulated other comprehensive income

47

47

Net other comprehensive income
2

13

15

Balance at Dec 31, 2015
$
(61
)
$
(1,167
)
$
(1,228
)
2016






Other comprehensive loss before reclassifications
(1
)
(133
)
(134
)
Amounts reclassified from accumulated other comprehensive income

42

42

Net other comprehensive loss
(1
)
(91
)
(92
)
Balance at Dec 31, 2016
$
(62
)
$
(1,258
)
$
(1,320
)
2017






Other comprehensive loss before reclassifications

(83
)
(83
)
Amounts reclassified from accumulated other comprehensive income
3

48

51

Net other comprehensive income (loss)
3

(35
)
(32
)
Balance at Dec 31, 2017
$
(59
)
$
(1,293
)
$
(1,352
)

The tax effects on the net activity related to each component of accumulated other comprehensive income (loss) for the years ended December 31, 2017, 2016 and 2015 were as follows:

Tax Benefit (Expense)
 
 
 
In millions
2017
2016
2015
Pension and other postretirement benefit plans
$
3

$
(54
)
$
5


A summary of the reclassifications out of accumulated other comprehensive loss for the years ended December 31, 2017, 2016 and 2015 is provided as follows:

Reclassifications Out of Accumulated Other Comprehensive Loss
 
 
 
Consolidated Statements of Income Classification
2017
2016
2015
In millions
Cumulative translation adjustments
$
3

$

$

See (1) below
Pension and other postretirement benefit plans
76

67

75

See (2) below
Tax benefit
(28
)
(25
)
(28
)
See (3) below
After-tax
48

42

47

 
Total reclassifications for the period, after-tax
$
51

$
42

$
47

 
1.
"Sundry income (expense) - net."
2.
Included in the computation of net periodic benefit cost of the Corporation's pension and other postretirement plans. See Note 16 for additional information.
3.
"Provision (Credit) for income taxes."



40