ÀÖÌìÌÃfun88(ÖйúÇø)¹Ù·½ÍøÕ¾

Quarterly report pursuant to Section 13 or 15(d)

OTHER COMPREHENSIVE INCOME

v3.20.1
OTHER COMPREHENSIVE INCOME
 3 Months Ended
Mar. 31, 2020
OTHER COMPREHENSIVE INCOME Ìý
OTHER COMPREHENSIVE INCOME

13. OTHER COMPREHENSIVE INCOME

�

The components of other comprehensive income and changes in accumulated other comprehensive loss by component were as follows (dollars in millions):

�

ÀÖÌìÌÃfun88(ÖйúÇø)¹Ù·½ÍøÕ¾ Corporation

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

ÌýÌýÌýÌý

�

ÌýÌýÌýÌý

PensionÌýand

ÌýÌýÌýÌý

Other

ÌýÌýÌýÌý

�

ÌýÌýÌýÌý

�

ÌýÌýÌýÌý

�

ÌýÌýÌýÌý

�

�

�

Foreign

�

other

�

comprehensive

�

�

�

�

�

�

�

Amounts

�

Amounts

�

�

currency

�

postretirement

�

incomeÌýof

�

�

�

�

�

�

�

attributableÌýto

�

attributableÌýto

�

�

translation

�

benefits

�

unconsolidated

�

�

�

�

�

�

�

noncontrolling

�

ÀÖÌìÌÃfun88(ÖйúÇø)¹Ù·½ÍøÕ¾

�

�

adjustment(a)

�

adjustments(b)

�

affiliates

�

Other,Ìýnet

�

Total

�

interests

�

Corporation

Beginning balance, January 1, 2020

�

$

(369)

�

$

(1,031)

�

$

8

�

$

4

�

$

(1,388)

�

$

26

�

$

(1,362)

Other comprehensive (loss) income before reclassifications, gross

�

�

(67)

�

�

8

�

�

�

�

�

�

�

�

(59)

�

�

�

�

�

(59)

Tax benefit

�

�

(6)

�

�

�

�

�

�

�

�

�

�

�

(6)

�

�

�

�

�

(6)

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

�

�

�

�

�

58

�

�

�

�

�

�

�

�

58

�

�

�

�

�

58

Tax expense

�

�

�

�

�

(14)

�

�

�

�

�

�

�

�

(14)

�

�

�

�

�

(14)

Net current-period other comprehensive (loss) income

�

�

(73)

�

�

52

�

�

�

�

�

�

�

�

(21)

�

�

�

�

�

(21)

Ending balance, MarchÌý31,Ìý2020

�

$

(442)

�

$

(979)

�

$

8

�

$

4

�

$

(1,409)

�

$

26

�

$

(1,383)
(a) Amounts are net of tax of $74 and $68 as of March 31, 2020 and JanuaryÌý1, 2020, respectively.

�

(b) Amounts are net of tax of $134 and $148 as of March 31, 2020 and JanuaryÌý1, 2020, respectively.

�

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

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

ÌýÌýÌýÌý

�

ÌýÌýÌýÌý

PensionÌýand

ÌýÌýÌýÌý

Other

ÌýÌýÌýÌý

�

ÌýÌýÌýÌý

�

ÌýÌýÌýÌý

�

ÌýÌýÌýÌý

�

�

�

Foreign

�

other

�

comprehensive

�

�

�

�

�

�

�

Amounts

�

Amounts

�

�

currency

�

postretirement

�

incomeÌýof

�

�

�

�

�

�

�

attributableÌýto

�

attributableÌýto

�

�

translation

�

benefits

�

unconsolidated

�

�

�

�

�

�

�

noncontrolling

�

ÀÖÌìÌÃfun88(ÖйúÇø)¹Ù·½ÍøÕ¾

�

�

adjustment(a)

�

adjustments(b)

�

affiliates

�

Other,Ìýnet

�

Total

�

interests

�

Corporation

Beginning balance, January 1, 2019

�

$

(371)

�

$

(994)

�

$

8

�

$

5

�

$

(1,352)

�

$

36

�

$

(1,316)

Other comprehensive income before reclassifications, gross

�

�

40

�

�

�

�

�

�

�

�

�

�

�

40

�

�

(2)

�

�

38

Tax benefit

�

�

2

�

�

�

�

�

�

�

�

�

�

�

2

�

�

�

�

�

2

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

�

�

�

�

�

15

�

�

�

�

�

�

�

�

15

�

�

�

�

�

15

Tax expense

�

�

�

�

�

(3)

�

�

�

�

�

�

�

�

(3)

�

�

�

�

�

(3)

Net current-period other comprehensive income

�

�

42

�

�

12

�

�

�

�

�

�

�

�

54

�

�

(2)

�

�

52

Ending balance, MarchÌý31,Ìý2019

�

$

(329)

�

$

(982)

�

$

8

�

$

5

�

$

(1,298)

�

$

34

�

$

(1,264)

(a)

Amounts are net of tax of $69 and $71 as of March 31, 2019 and JanuaryÌý1, 2019, respectively.

�

(b)

Amounts are net of tax of $132 and $135 as of March 31, 2019 and JanuaryÌý1, 2019, respectively.

�

(c)

See table below for details about these reclassifications.

�

�

�

�

�

�

�

�

�

�

�

�

Three months ended MarchÌý31,Ìý

�

�

�

�

2020

�

2019

�

�

�

�

Amounts reclassified

�

Amounts reclassified

�

Affected line item in

�

�

from accumulated

�

from accumulated

�

the statement

�

�

other

�

other

�

where net income

Details about Accumulated Other

�

comprehensive loss

ÌýÌýÌýÌý

comprehensive loss

�

is presented

Comprehensive Loss Components(a):

�

�

�

�

�

�

ÌýÌýÌýÌý

�

Amortization of pension and other postretirement benefits:

�

�

�

�

�

�

�

�

Prior service credit

�

$

(3)

�

$

(3)

�

(b)

Settlement loss

�

�

41

�

�

�

�

(c)

Actuarial loss

�

�

20

�

�

18

�

(b)(d)

�

�

�

58

�

�

15

�

Total before tax

�

�

�

(14)

�

�

(3)

�

IncomeÌýtax expense

Total reclassifications for the period

�

$

44

�

$

12

�

Net of tax
(a) Pension and other postretirement benefits amounts in parentheses indicate credits on our condensed consolidated statements of operations.

�

(b) These accumulated other comprehensive loss components are included in the computation of net periodic pension costs. See “Note 11. Employee Benefit Plans.�

�

(c) In connection with the sale of our Chemical Intermediates Businesses, we recognized $41 million of pension and other post-employment benefit settlement losses during the three months ended March 31, 2020.

�

(d) Amounts contain approximately $1 of actuarial losses related to discontinued operations for both the three months ended March 31, 2020 and 2019.

�

ÀÖÌìÌÃfun88(ÖйúÇø)¹Ù·½ÍøÕ¾ International

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

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
ÀÖÌìÌÃfun88(ÖйúÇø)¹Ù·½ÍøÕ¾
International

Beginning balance, January 1, 2020

�

$

(374)

�

$

(1,012)

�

$

8

�

$

�

�

$

(1,378)

�

$

26

�

$

(1,352)

Other comprehensive (loss) income before reclassifications, gross

�

�

(67)

�

�

8

�

�

�

�

�

�

�

�

(59)

�

�

�

�

�

(59)

Tax benefit

�

�

(6)

�

�

�

�

�

�

�

�

�

�

�

(6)

�

�

�

�

�

(6)

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

�

�

�

�

�

59

�

�

�

�

�

�

�

�

59

�

�

�

�

�

59

Tax expense

�

�

�

�

�

(14)

�

�

�

�

�

�

�

�

(14)

�

�

�

�

�

(14)

Net current-period other comprehensive (loss) income

�

�

(73)

�

�

53

�

�

�

�

�

�

�

�

(20)

�

�

�

�

�

(20)

Ending balance, MarchÌý31,Ìý2020

�

$

(447)

�

$

(959)

�

$

8

�

$

�

�

$

(1,398)

�

$

26

�

$

(1,372)
(a) Amounts are net of tax of $61 and $55 as of March 31, 2020 and JanuaryÌý1, 2020 respectively.

�

(b) Amounts are net of tax of $160 and $174 as of March 31, 2020 and JanuaryÌý1, 2020, respectively.

�

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

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

ÌýÌýÌýÌý

�

ÌýÌýÌýÌý

PensionÌýand

ÌýÌýÌýÌý

Other

ÌýÌýÌýÌý

�

ÌýÌýÌýÌý

�

ÌýÌýÌýÌý

�

ÌýÌýÌýÌý

�

�

�

Foreign

�

other

�

comprehensive

�

�

�

�

�

�

�

Amounts

�

Amounts

�

�

currency

�

postretirement

�

incomeÌýof

�

�

�

�

�

�

�

attributableÌýto

�

attributableÌýto

�

�

translation

�

benefits

�

unconsolidated

�

�

�

�

�

�

�

noncontrolling

�

ÀÖÌìÌÃfun88(ÖйúÇø)¹Ù·½ÍøÕ¾

�

�

adjustment(a)

�

adjustments(b)

�

affiliates

�

Other,Ìýnet

�

Total

�

interests

�

Corporation

Beginning balance, January 1, 2019

�

$

(376)

�

$

(977)

�

$

8

�

$

1

�

$

(1,344)

�

$

36

�

$

(1,308)

Other comprehensive income before reclassifications, gross

�

�

40

�

�

�

�

�

�

�

�

�

�

�

40

�

�

(2)

�

�

38

Tax benefit

�

�

1

�

�

�

�

�

�

�

�

�

�

�

1

�

�

�

�

�

1

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

�

�

�

�

�

16

�

�

�

�

�

�

�

�

16

�

�

�

�

�

16

Tax expense

�

�

�

�

�

(3)

�

�

�

�

�

�

�

�

(3)

�

�

�

�

�

(3)

Net current-period other comprehensive income

�

�

41

�

�

13

�

�

�

�

�

�

�

�

54

�

�

(2)

�

�

52

Ending balance, MarchÌý31,Ìý2019

�

$

(335)

�

$

(964)

�

$

8

�

$

1

�

$

(1,290)

�

$

34

�

$

(1,256)
(a) Amounts are net of tax of $56 and $57 as of March 31, 2019 and JanuaryÌý1, 2019, respectively.

�

(b) Amounts are net of tax of $158 and $161 as of March 31, 2019 and JanuaryÌý1, 2019, respectively.

�

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

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

Three months ended MarchÌý31,Ìý

�

�

�

�

2020

�

2019

�

�

�

�

Amounts reclassified

�

Amounts reclassified

�

Affected line item in

�

�

from accumulated

�

from accumulated

�

the statement

�

�

other

�

other

�

where net income

Details about Accumulated Other

�

comprehensive loss

ÌýÌýÌýÌý

comprehensive loss

�

is presented

Comprehensive Loss Components(a):

�

�

�

�

�

�

ÌýÌýÌýÌý

�

Amortization of pension and other postretirement benefits:

�

�

�

�

�

�

�

�

Prior service credit

�

$

(3)

�

$

(3)

�

(b)

Settlement loss

�

�

41

�

�

�

�

(c)

Actuarial loss

�

�

21

�

�

19

�

(b)(d)

�

�

�

59

�

�

16

�

Total before tax

�

�

�

(14)

�

�

(3)

�

IncomeÌýtaxÌýexpense

Total reclassifications for the period

�

$

45

�

$

13

�

Net of tax
(a) Pension and other postretirement benefits amounts in parentheses indicate credits on our condensed consolidated statements of operations.

�

(b) These accumulated other comprehensive loss components are included in the computation of net periodic pension costs. See “NoteÌý11. Employee Benefit Plans.â€�

�

(c) In connection with the sale of our Chemical Intermediates Businesses, we recognized $41 million of pension and other post-employment benefit settlement losses during the three months ended March 31, 2020.

�

(d) Amounts contain approximately $1 of actuarial losses related to discontinued operations for both the three months ended March 30, 2020 and 2019.

�