ÀÖÌìÌÃfun88(ÖйúÇø)¹Ù·½ÍøÕ¾

Annual report pursuant to Section 13 and 15(d)

OTHER COMPREHENSIVE (LOSS) INCOME

v3.19.3.a.u2
OTHER COMPREHENSIVE (LOSS) INCOME
 12 Months Ended
Dec. 31, 2019
OTHER COMPREHENSIVE (LOSS) INCOME Ìý
OTHER COMPREHENSIVE INCOME

25. OTHER COMPREHENSIVE (LOSS) INCOME

Other comprehensive loss consisted of the following (dollars in millions):

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ÌýÌýÌýÌý

�

ÌýÌýÌýÌý

PensionÌýand

ÌýÌýÌýÌý

Other

ÌýÌýÌýÌý

�

ÌýÌýÌýÌý

�

ÌýÌýÌýÌý

�

ÌýÌýÌýÌý

�

�

�

Foreign

�

other

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comprehensive

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�

�

�

�

�

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Amounts

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Amounts

�

�

currency

�

postretirement

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incomeÌýof

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�

�

�

�

�

�

attributableÌýto

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attributableÌýto

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translation

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benefits

�

unconsolidated

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�

�

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�

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noncontrolling

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adjustment(a)

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adjustments(b)

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affiliates

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Other,Ìýnet

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Total

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interests

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Corporation

Beginning balance, January 1, 2019

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$

(371)

�

$

(994)

�

$

8

�

$

5

�

$

(1,352)

�

$

36

�

$

(1,316)

Other comprehensive (loss) income before reclassifications, gross

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(112)

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(1)

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�

(113)

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�

5

�

�

(108)

Tax benefit

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2

�

�

25

�

�

�

�

�

�

�

�

27

�

�

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�

�

27

Amounts reclassified from accumulated other comprehensive loss, gross(c)

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�

�

�

�

62

�

�

�

�

�

�

�

�

62

�

�

�

�

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62

Tax expense

�

�

�

�

�

(12)

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�

�

�

�

(12)

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�

(12)

Net current-period other comprehensive (loss) income

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2

�

�

(37)

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�

(1)

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�

(36)

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5

�

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(31)

Acquisition of noncontrolling interest

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�

�

�

�

�

�

�

�

�

�

�

�

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(15)

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�

(15)

Ending balance, DecemberÌý31,Ìý2019

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$

(369)

�

$

(1,031)

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$

8

�

$

4

�

$

(1,388)

�

$

26

�

$

(1,362)
(a) Amounts are net of tax of $68 and $71 as of DecemberÌý31, 2019 and JanuaryÌý1, 2019, respectively.
(b) Amounts are net of tax of $148 and $135 as of DecemberÌý31, 2019 and JanuaryÌý1, 2019, respectively.
(c) See table below for details about these reclassifications.

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�

ÌýÌýÌýÌý

PensionÌýand

ÌýÌýÌýÌý

Other

ÌýÌýÌýÌý

�

ÌýÌýÌýÌý

�

ÌýÌýÌýÌý

�

ÌýÌýÌýÌý

�

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Foreign

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other

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comprehensive

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�

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Amounts

�

Amounts

�

�

currency

�

postretirement

�

incomeÌýof

�

�

�

�

�

�

�

attributableÌýto

�

attributableÌýto

�

�

translation

�

benefits

�

unconsolidated

�

�

�

�

�

�

�

noncontrolling

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adjustment(a)

�

adjustments(b)

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affiliates

�

Other,Ìýnet

�

Total

�

interests

�

Corporation

Beginning balance, January 1, 2018

�

$

(249)

�

$

(1,189)

�

$

3

�

$

24

�

$

(1,411)

�

$

143

�

$

(1,268)

Cumulative effect of changes in fair value of equity investments

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�

�

�

�

�

�

�

�

�

�

(10)

�

�

(10)

�

�

�

�

�

(10)

Revised beginning balance, January 1, 2018

�

�

(249)

�

�

(1,189)

�

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3

�

�

14

�

�

(1,421)

�

�

143

�

�

(1,278)

Other comprehensive (loss) income before reclassifications, gross

�

�

(186)

�

�

(130)

�

�

�

�

�

�

�

�

(316)

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�

47

�

�

(269)

Tax expense (benefit)

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(6)

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27

�

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�

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(3)

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18

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18

Amounts reclassified from accumulated other comprehensive loss, gross(c)

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77

�

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�

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77

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77

Tax expense

�

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(13)

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(6)

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(19)

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(19)

Net current-period other comprehensive (loss) income

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(192)

�

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(39)

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(9)

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�

(240)

�

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47

�

�

(193)

Disposition of a portion of Venator

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(5)

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(5)

Deconsolidation of Venator

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70

�

�

285

�

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5

�

�

�

�

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360

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(149)

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211

Tax expense

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(51)

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(51)

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(51)

Ending balance, DecemberÌý31,Ìý2018

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$

(371)

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$

(994)

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$

8

�

$

5

�

$

(1,352)

�

$

36

�

$

(1,316)
(a) Amounts are net of tax of $71 and $65 as of DecemberÌý31, 2018 and JanuaryÌý1, 2018, respectively.
(b) Amounts are net of tax of $135 and $172 as of DecemberÌý31, 2018 and JanuaryÌý1, 2018, respectively.
(c) See table below for details about these reclassifications.

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Amounts reclassified

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from accumulated

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other

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comprehensive loss

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Affected line item in

Details about Accumulated Other

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Year ended December 31,

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where net income

Comprehensive Loss Components(a):

ÌýÌýÌýÌý

2019

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2018

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2017

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is presented

Amortization of pension and other postretirement benefits:

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Prior service credit

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$

(11)

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$

(12)

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$

(15)

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(b)

Settlement loss

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1

�

�

2

�

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�

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Actuarial loss

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72

�

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87

�

�

95

�

(b)(c)

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62

�

�

77

�

�

80

�

Total before tax

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�

�

(12)

�

�

(13)

�

�

(14)

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IncomeÌýtax expense

Total reclassifications for the period

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$

50

�

$

64

�

$

66

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Net of tax

(a)

Pension and other postretirement benefits amounts in parentheses indicate credits on our consolidated statements of operations.

(b)

These accumulated other comprehensive loss components are included in the computation of net periodic pension costs. See “Note 19. Employee Benefit Plans.�

(c)

Amounts contain approximately $7, $22 and $22 of prior service credit and actuarial loss related to discontinued operations for the years ended December 31, 2019, 2018 and 2017, respectively.

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ÌýÌýÌýÌý

Foreign
currency
translation
adjustment(a)

ÌýÌýÌýÌý

Pension
andÌýother
postretirement
benefits
adjustments(b)

ÌýÌýÌýÌý

Other
comprehensive
incomeÌýof
unconsolidated
affiliates

ÌýÌýÌýÌý

Other,Ìýnet

ÌýÌýÌýÌý

Total

ÌýÌýÌýÌý

Amounts
attributableÌýto
noncontrolling
interests

ÌýÌýÌýÌý

Amounts
attributableÌýto
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International

Beginning balance, January 1, 2019

ÌýÌýÌýÌý

$

(376)

ÌýÌýÌýÌý

$

(977)

ÌýÌýÌýÌý

$

8

ÌýÌýÌýÌý

$

1

ÌýÌýÌýÌý

$

(1,344)

ÌýÌýÌýÌý

$

36

ÌýÌýÌýÌý

$

(1,308)

Other comprehensive (loss) income before reclassifications, gross

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�

�

�

(113)

�

�

�

�

�

(1)

�

�

(114)

�

�

5

�

�

(109)

Tax benefit

�

�

2

�

�

25

�

�

�

�

�

�

�

�

27

�

�

�

�

�

27

Amounts reclassified from accumulated other comprehensive loss, gross(c)

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�

65

�

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�

�

�

�

�

�

65

�

�

�

�

�

65

Tax expense

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(12)

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(12)

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(12)

Net current-period other comprehensive (loss) income

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2

�

�

(35)

�

�

�

�

�

(1)

�

�

(34)

�

�

5

�

�

(29)

Acquisition of noncontrolling interest

�

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�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

(15)

�

�

(15)

Ending balance, DecemberÌý31,Ìý2019

�

$

(374)

�

$

(1,012)

�

$

8

�

$

�

�

$

(1,378)

�

$

26

�

$

(1,352)
(a) Amounts are net of tax of $55 and $57 as of DecemberÌý31, 2019 and JanuaryÌý1, 2019, respectively.
(b) Amounts are net of tax of $174 and $161 as of DecemberÌý31, 2019 and JanuaryÌý1, 2019, respectively.
(c) See table below for details about these reclassifications.

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�

ÌýÌýÌýÌý

Foreign
currency
translation
adjustment(a)

ÌýÌýÌýÌý

Pension
andÌýother
postretirement
benefits
adjustments(b)

ÌýÌýÌýÌý

Other
comprehensive
incomeÌýof
unconsolidated
affiliates

ÌýÌýÌýÌý

Other,Ìýnet

ÌýÌýÌýÌý

Total

ÌýÌýÌýÌý

Amounts
attributableÌýto
noncontrolling
interests

ÌýÌýÌýÌý

Amounts
attributableÌýto
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International

Beginning balance, January 1, 2018

ÌýÌýÌýÌý

$

(252)

ÌýÌýÌýÌý

$

(1,174)

ÌýÌýÌýÌý

$

3

ÌýÌýÌýÌý

$

17

ÌýÌýÌýÌý

$

(1,406)

ÌýÌýÌýÌý

$

143

ÌýÌýÌýÌý

$

(1,263)

Cumulative effect of changes in fair value of equity investments

�

�

�

�

�

�

�

�

�

�

�

(10)

�

�

(10)

�

�

�

�

�

(10)

Revised beginning balance, January 1, 2018

�

�

(252)

�

�

(1,174)

�

�

3

�

�

7

�

�

(1,416)

�

�

143

�

�

(1,273)

Other comprehensive (loss) income before reclassifications, gross

�

�

(188)

�

�

(130)

�

�

�

�

�

�

�

�

(318)

�

�

47

�

�

(271)

Tax expense (benefit)

�

�

(6)

�

�

27

�

�

�

�

�

(1)

�

�

20

�

�

�

�

�

20

Amounts reclassified from accumulated other comprehensive loss, gross(c)

�

�

�

�

�

80

�

�

�

�

�

�

�

�

80

�

�

�

�

�

80

Tax expense

�

�

�

�

�

(14)

�

�

�

�

�

(5)

�

�

(19)

�

�

�

�

�

(19)

Net current-period other comprehensive (loss) income

�

�

(194)

�

�

(37)

�

�

�

�

�

(6)

�

�

(237)

�

�

47

�

�

(190)

Disposition of a portion of Venator

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

(5)

�

�

(5)

Deconsolidation of Venator

�

�

70

�

�

285

�

�

5

�

�

�

�

�

360

�

�

(149)

�

�

211

Tax expense

�

�

�

�

�

(51)

�

�

�

�

�

�

�

�

(51)

�

�

�

�

�

(51)

Ending balance, DecemberÌý31,Ìý2018

�

$

(376)

�

$

(977)

�

$

8

�

$

1

�

$

(1,344)

�

$

36

�

$

(1,308)
(a) Amounts are net of tax of $57 and $51 as of DecemberÌý31, 2018 and JanuaryÌý1, 2018, respectively.
(b) Amounts are net of tax of $161 and $199 as of DecemberÌý31, 2018 and JanuaryÌý1, 2018, respectively.
(c) See table below for details about these reclassifications.

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Amounts reclassified

�

�

�

�

from accumulated

�

�

�

�

other

�

�

�

�

comprehensive loss

�

Affected line item in

Details about Accumulated Other

�

Year ended December 31,

�

where net income

Comprehensive Loss Components(a):

ÌýÌýÌýÌý

2019

�

2018

�

2017

ÌýÌýÌýÌý

is presented

Amortization of pension and other postretirement benefits:

�

�

�

�

�

�

�

�

�

�

�

Prior service credit

�

$

(11)

�

$

(12)

�

$

(15)

�

(b)

Settlement loss

�

�

1

�

�

2

�

�

�

�

�

Actuarial loss

�

�

75

�

�

90

�

�

101

�

(b)(c)

�

�

�

65

�

�

80

�

�

86

�

Total before tax

�

�

�

(12)

�

�

(14)

�

�

(15)

�

IncomeÌýtaxÌýexpense

Total reclassifications for the period

�

$

53

�

$

66

�

$

71

�

Net of tax
(a) Pension and other postretirement benefits amounts in parentheses indicate credits on our consolidated statements of operations.
(b) These accumulated other comprehensive loss components are included in the computation of net periodic pension costs. See “NoteÌý19. Employee Benefit Plans.â€�
(c) Amounts contain approximately $7 and $22 and $29 of prior service credit and actuarial loss related to discontinued operations for the years ended December 31, 2019, 2018 and 2017, respectively.

Items of other comprehensive income (loss) of our Company and our consolidated affiliates have been recorded net of tax, with the exception of the foreign currency translation adjustments related to subsidiaries with earnings permanently reinvested. The tax effect is determined based upon the jurisdiction where the income or loss was recognized and is net of valuation allowances.