Following are the changes in accumulated other comprehensive income (loss) by component for the three months ended:
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Three months ended |
In millions |
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Change in
pensions and
other
postretirement
defined benefit
plans |
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Foreign
currency
translation
adjustment |
|
Unrealized gain
(loss) on
marketable
securities |
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Unrealized gain
(loss) on
derivatives |
|
Total
attributable to
Cummins Inc. |
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Noncontrolling
interests |
|
Total |
Balance at December 31, 2017 |
|
$ |
(689 |
) |
|
$ |
(812 |
) |
|
$ |
1 |
|
|
$ |
(3 |
) |
|
$ |
(1,503 |
) |
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Other comprehensive income before reclassifications |
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Before tax amount |
|
(8 |
) |
|
125 |
|
|
— |
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|
11 |
|
|
128 |
|
|
$ |
(7 |
) |
|
$ |
121 |
|
Tax benefit (expense) |
|
2 |
|
|
(33 |
) |
|
— |
|
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(4 |
) |
|
(35 |
) |
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— |
|
|
(35 |
) |
After tax amount |
|
(6 |
) |
|
92 |
|
|
— |
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|
7 |
|
|
93 |
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(7 |
) |
|
86 |
|
Amounts reclassified from accumulated other comprehensive loss(1)
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|
14 |
|
|
— |
|
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(1 |
) |
|
— |
|
|
13 |
|
|
— |
|
|
13 |
|
Net current period other comprehensive income (loss) |
|
8 |
|
|
92 |
|
|
(1 |
) |
|
7 |
|
|
106 |
|
|
$ |
(7 |
) |
|
$ |
99 |
|
Balance at April 1, 2018 |
|
$ |
(681 |
) |
|
$ |
(720 |
) |
|
$ |
— |
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|
$ |
4 |
|
|
$ |
(1,397 |
) |
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Balance at December 31, 2018 |
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$ |
(671 |
) |
|
$ |
(1,138 |
) |
|
$ |
— |
|
|
$ |
2 |
|
|
$ |
(1,807 |
) |
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Other comprehensive income before reclassifications |
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Before tax amount |
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(23 |
) |
|
80 |
|
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(1 |
) |
|
3 |
|
|
59 |
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$ |
3 |
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$ |
62 |
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Tax benefit (expense) |
|
5 |
|
|
1 |
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— |
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(1 |
) |
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5 |
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— |
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|
5 |
|
After tax amount |
|
(18 |
) |
|
81 |
|
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(1 |
) |
|
2 |
|
|
64 |
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|
3 |
|
|
67 |
|
Amounts reclassified from accumulated other comprehensive loss(1)
|
|
7 |
|
|
— |
|
|
— |
|
|
(3 |
) |
|
4 |
|
|
— |
|
|
4 |
|
Net current period other comprehensive income (loss) |
|
(11 |
) |
|
81 |
|
|
(1 |
) |
|
(1 |
) |
|
68 |
|
|
$ |
3 |
|
|
$ |
71 |
|
Balance at March 31, 2019 |
|
$ |
(682 |
) |
|
$ |
(1,057 |
) |
|
$ |
(1 |
) |
|
$ |
1 |
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$ |
(1,739 |
) |
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(1) Amounts are net of tax. Reclassifications out of accumulated other comprehensive income (loss) and the related tax effects are immaterial for separate disclosure.
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