ÀÖÌìÌÃfun88(ÖйúÇø)¹Ù·½ÍøÕ¾

Quarterly report pursuant to Section 13 or 15(d)

ACCUMULATED OTHER COMPREHENSIVE LOSS

v3.20.2
ACCUMULATED OTHER COMPREHENSIVE LOSS
 6 Months Ended
Jun. 30, 2020
ACCUMULATED OTHER COMPREHENSIVE LOSS Ìý
ACCUMULATED OTHER COMPREHENSIVE LOSS

14. ACCUMULATED OTHER COMPREHENSIVE LOSS

�

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

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

Corporation

Beginning balance, January 1, 2020

�

$

(369)

�

$

(1,031)

�

$

8

�

$

4

�

$

(1,388)

�

$

26

�

$

(1,362)

Other comprehensive (loss) income before reclassifications, gross

�

�

(52)

�

�

8

�

�

�

�

�

�

�

�

(44)

�

�

�

�

�

(44)

Tax expense

�

�

(4)

�

�

(2)

�

�

�

�

�

�

�

�

(6)

�

�

�

�

�

(6)

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

�

�

�

�

�

75

�

�

�

�

�

�

�

�

75

�

�

�

�

�

75

Tax expense

�

�

�

�

�

(17)

�

�

�

�

�

�

�

�

(17)

�

�

�

�

�

(17)

Net current-period other comprehensive (loss) income

�

�

(56)

�

�

64

�

�

�

�

�

�

�

�

8

�

�

�

�

�

8

Ending balance, JuneÌý30,Ìý2020

�

$

(425)

�

$

(967)

�

$

8

�

$

4

�

$

(1,380)

�

$

26

�

$

(1,354)
(a) Amounts are net of tax of $72 and $68 as of June 30, 2020 and JanuaryÌý1, 2020, respectively.

�

(b) Amounts are net of tax of $129 and $148 as of June 30, 2020 and JanuaryÌý1, 2020, respectively.

�

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

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

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

Corporation

Beginning balance, January 1, 2019

�

$

(371)

�

$

(994)

�

$

8

�

$

5

�

$

(1,352)

�

$

36

�

$

(1,316)

Other comprehensive income before reclassifications, gross

�

�

19

�

�

�

�

�

�

�

�

�

�

�

19

�

�

�

�

�

19

Tax benefit

�

�

1

�

�

�

�

�

�

�

�

�

�

�

1

�

�

�

�

�

1

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

�

�

�

�

�

31

�

�

�

�

�

�

�

�

31

�

�

�

�

�

31

Tax expense

�

�

�

�

�

(6)

�

�

�

�

�

�

�

�

(6)

�

�

�

�

�

(6)

Net current-period other comprehensive income

�

�

20

�

�

25

�

�

�

�

�

�

�

�

45

�

�

�

�

�

45

Ending balance, JuneÌý30,Ìý2019

�

$

(351)

�

$

(969)

�

$

8

�

$

5

�

$

(1,307)

�

$

36

�

$

(1,271)

(a)

Amounts are net of tax of $70 and $71 as of June 30, 2019 and JanuaryÌý1, 2019, respectively.

�

(b)

Amounts are net of tax of $129 and $135 as of June 30, 2019 and JanuaryÌý1, 2019, respectively.

�

(c)

See table below for details about these reclassifications.

�

�

�

�

�

�

�

�

�

�

�

�

Three months ended June 30,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

�

$

(2)

�

$

(3)

�

(b)

Actuarial loss

�

�

19

�

�

19

�

(b)(d)

�

�

�

17

�

�

16

�

Total before tax

�

�

�

(3)

�

�

(3)

�

IncomeÌýtaxÌýexpense

Total reclassifications for the period

�

$

14

�

$

13

�

Net of tax

�

�

�

�

�

�

�

�

�

�

�

�

Six months ended June 30,Ìý

�

�

�

�

2020

�

2019

�

�

�

�

Amounts reclassified

�

Amounts reclassified

�

Affected line item in

�

�

from accumulated

�

from accumulated

�

the statement

Details about Accumulated Other

�

other

�

other

�

where net income

Comprehensive Loss Components(a):

�

comprehensive loss

ÌýÌýÌýÌý

comprehensive loss

ÌýÌýÌýÌý

is presented

Amortization of pension and other postretirement benefits:

�

�

�

�

�

�

�

�

Prior service credit

�

$

(5)

�

$

(6)

�

(b)

Settlement loss

�

�

41

�

�

�

�

(c)

Actuarial loss

�

�

39

�

�

37

�

(b)(d)

�

�

�

75

�

�

31

�

Total before tax

�

�

�

(17)

�

�

(6)

�

IncomeÌýtaxÌýexpense

Total reclassifications for the period

�

$

58

�

$

25

�

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 12. Employee Benefit Plans.�

�

(c) In connection with the sale of our Chemical Intermediates Businesses, we recognized $41 of pension and other post-employment benefit settlement losses during the six months ended June 30, 2020.

�

(d) Amounts contain approximately $2 and nil of actuarial losses related to discontinued operations for the three months ended June 30, 2020 and 2019, respectively, and $3 and $1 of actuarial losses related to discontinued operations for the six months ended June 30, 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

�

�

(53)

�

�

8

�

�

�

�

�

�

�

�

(45)

�

�

�

�

�

(45)

Tax expense

�

�

(4)

�

�

(2)

�

�

�

�

�

�

�

�

(6)

�

�

�

�

�

(6)

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

�

�

�

�

�

77

�

�

�

�

�

�

�

�

77

�

�

�

�

�

77

Tax expense

�

�

�

�

�

(17)

�

�

�

�

�

�

�

�

(17)

�

�

�

�

�

(17)

Net current-period other comprehensive (loss) income

�

�

(57)

�

�

66

�

�

�

�

�

�

�

�

9

�

�

�

�

�

9

Ending balance, JuneÌý30,Ìý2020

�

$

(431)

�

$

(946)

�

$

8

�

$

�

�

$

(1,369)

�

$

26

�

$

(1,343)
(a) Amounts are net of tax of $59 and $55 as of June 30, 2020 and JanuaryÌý1, 2020 respectively.

�

(b) Amounts are net of tax of $155 and $174 as of June, 2020 and JanuaryÌý1, 2020, respectively.

�

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

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

�

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, 2019

�

$

(376)

�

$

(977)

�

$

8

�

$

1

�

$

(1,344)

�

$

36

�

$

(1,308)

Other comprehensive income before reclassifications, gross

�

�

19

�

�

�

�

�

�

�

�

�

�

�

19

�

�

�

�

�

19

Tax benefit

�

�

1

�

�

�

�

�

�

�

�

�

�

�

1

�

�

�

�

�

1

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

�

�

�

�

�

33

�

�

�

�

�

�

�

�

33

�

�

�

�

�

33

Tax expense

�

�

�

�

�

(7)

�

�

�

�

�

�

�

�

(7)

�

�

�

�

�

(7)

Net current-period other comprehensive income

�

�

20

�

�

26

�

�

�

�

�

�

�

�

46

�

�

�

�

�

46

Ending balance, JuneÌý30,Ìý2019

�

$

(356)

�

$

(951)

�

$

8

�

$

1

�

$

(1,298)

�

$

36

�

$

(1,262)

(a)

Amounts are net of tax of $56 and $57 as of June 30, 2019 and JanuaryÌý1, 2019, respectively.

�

(b)

Amounts are net of tax of $154 and $161 as of June 30, 2019 and JanuaryÌý1, 2019, respectively.

�

(c)

See table below for details about these reclassifications.

�

�

�

�

�

�

�

�

�

�

�

�

Three months ended June 30,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

�

$

(2)

�

$

(3)

�

(b)

Actuarial loss

�

�

20

�

�

20

�

(b)(d)

�

�

�

18

�

�

17

�

Total before tax

�

�

�

(3)

�

�

(4)

�

IncomeÌýtaxÌýexpense

Total reclassifications for the period

�

$

15

�

$

13

�

Net of tax

�

�

�

�

�

�

�

�

�

�

�

�

Six months ended June 30,Ìý

�

�

�

�

2020

�

2019

�

�

�

�

Amounts reclassified

�

Amounts reclassified

�

Affected line item in

�

�

from accumulated

�

from accumulated

�

the statement

Details about Accumulated Other

�

other

�

other

�

where net income

Comprehensive Loss Components(a):

�

comprehensive loss

ÌýÌýÌýÌý

comprehensive loss

ÌýÌýÌýÌý

is presented

Amortization of pension and other postretirement benefits:

�

�

�

�

�

�

�

�

Prior service credit

�

$

(5)

�

$

(6)

�

(b)

Settlement loss

�

�

41

�

�

�

�

(c)

Actuarial loss

�

�

41

�

�

39

�

(b)(d)

�

�

�

77

�

�

33

�

Total before tax

�

�

�

(17)

�

�

(7)

�

IncomeÌýtaxÌýexpense

Total reclassifications for the period

�

$

60

�

$

26

�

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 “NoteÌý12. Employee Benefit Plans.â€�

�

(c) In connection with the sale of our Chemical Intermediates Businesses, we recognized $41 of pension and other post-employment benefit settlement losses during the six months ended June 30, 2020.

�

(d) Amounts contain approximately $2 and nil of actuarial losses related to discontinued operations for the three months ended June 30, 2020 and 2019, respectively, and $3 and $1 of actuarial losses related to discontinued operations for the six months ended June 30, 2020 and 2019.