Following are the changes in accumulated other comprehensive income (loss) by component:
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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.
|
|
Noncontrolling
interests
|
|
Total |
Balance at December 31, 2014 |
|
$ |
(669 |
) |
|
$ |
(406 |
) |
|
$ |
(1 |
) |
|
$ |
(2 |
) |
|
$ |
(1,078 |
) |
|
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|
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|
|
Other comprehensive income before reclassifications |
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Before tax amount |
|
(81 |
) |
|
(366 |
) |
|
— |
|
|
17 |
|
|
(430 |
) |
|
$ |
(15 |
) |
|
$ |
(445 |
) |
Tax (expense) benefit |
|
35 |
|
|
76 |
|
|
— |
|
|
(1 |
) |
|
110 |
|
|
— |
|
|
110 |
|
After tax amount |
|
(46 |
) |
|
(290 |
) |
|
— |
|
|
16 |
|
|
(320 |
) |
|
(15 |
) |
|
(335 |
) |
Amounts reclassified from accumulated other comprehensive income(1)(2)
|
|
61 |
|
|
— |
|
|
(1 |
) |
|
(10 |
) |
|
50 |
|
|
— |
|
|
50 |
|
Net current period other comprehensive income (loss) |
|
15 |
|
|
(290 |
) |
|
(1 |
) |
|
6 |
|
|
(270 |
) |
|
$ |
(15 |
) |
|
$ |
(285 |
) |
Balance at December 31, 2015 |
|
$ |
(654 |
) |
|
$ |
(696 |
) |
|
$ |
(2 |
) |
|
$ |
4 |
|
|
$ |
(1,348 |
) |
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|
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|
Other comprehensive income before reclassifications |
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Before tax amount |
|
(111 |
) |
|
(469 |
) |
|
1 |
|
|
(38 |
) |
|
(617 |
) |
|
$ |
(17 |
) |
|
$ |
(634 |
) |
Tax benefit (expense) |
|
44 |
|
|
38 |
|
|
— |
|
|
6 |
|
|
88 |
|
|
— |
|
|
88 |
|
After tax amount |
|
(67 |
) |
|
(431 |
) |
|
1 |
|
|
(32 |
) |
|
(529 |
) |
|
(17 |
) |
|
(546 |
) |
Amounts reclassified from accumulated other comprehensive income(1)(2)
|
|
36 |
|
|
— |
|
|
— |
|
|
20 |
|
|
56 |
|
|
— |
|
|
56 |
|
Net current period other comprehensive income (loss) |
|
(31 |
) |
|
(431 |
) |
|
1 |
|
|
(12 |
) |
|
(473 |
) |
|
$ |
(17 |
) |
|
$ |
(490 |
) |
Balance at December 31, 2016 |
|
$ |
(685 |
) |
|
$ |
(1,127 |
) |
|
$ |
(1 |
) |
|
$ |
(8 |
) |
|
$ |
(1,821 |
) |
|
|
|
|
|
|
Other comprehensive income before reclassifications |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Before tax amount |
|
73 |
|
|
335 |
|
|
2 |
|
|
(12 |
) |
|
398 |
|
|
$ |
20 |
|
|
$ |
418 |
|
Tax benefit (expense) |
|
(36 |
) |
|
(20 |
) |
|
— |
|
|
5 |
|
|
(51 |
) |
|
— |
|
|
(51 |
) |
After tax amount |
|
37 |
|
|
315 |
|
|
2 |
|
|
(7 |
) |
|
347 |
|
|
20 |
|
|
367 |
|
Amounts reclassified from accumulated other comprehensive income(1)(2)
|
|
62 |
|
|
— |
|
|
— |
|
|
12 |
|
|
74 |
|
|
— |
|
|
74 |
|
Impact of tax legislation (Note 2) |
|
(103 |
) |
(3) |
— |
|
|
— |
|
|
— |
|
|
(103 |
) |
|
— |
|
|
(103 |
) |
Net current period other comprehensive income (loss) |
|
(4 |
) |
|
315 |
|
|
2 |
|
|
5 |
|
|
318 |
|
|
$ |
20 |
|
|
$ |
338 |
|
Balance at December 31, 2017 |
|
$ |
(689 |
) |
|
$ |
(812 |
) |
|
$ |
1 |
|
|
$ |
(3 |
) |
|
$ |
(1,503 |
) |
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_______________________________________________________________________
(1) Amounts are net of tax.
(2) Reclassifications out of accumulated other comprehensive income (loss) and the related tax effects are immaterial for separate disclosure.
(3) Impact of tax legislation includes $(126) million related to one-time cumulative adjustments and $23 million related to 2017. See Note 2, "INCOME TAXES," to our Consolidated Financial Statements for additional information.
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