Quarterly report pursuant to Section 13 or 15(d)

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)

v3.8.0.1
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)
 3 Months Ended
Apr. 01, 2018
Equity [Abstract]  
Changes in accumulated other comprehensive income (loss) by component Following are the changes in accumulated other comprehensive income (loss) by component for the three months ended:
 
 
Three months ended
In millions
 
Change in
pensions and
other
postretirement
defined benefit
plans
 
Foreign
currency
translation
adjustment
 
Unrealized gain
(loss) on
debt
securities(1)
 
Unrealized gain
(loss) on
derivatives
 
Total
attributable to
Cummins Inc.
 
Noncontrolling
interests
 
Total
Balance at December 31, 2016
 
$
(685
)
 
$
(1,127
)
 
$
(1
)
 
$
(8
)
 
$
(1,821
)
 
 

 
 

Other comprehensive income before reclassifications
 
 

 
 

 
 

 
 

 
 

 
 

 
 

Before tax amount
 
8

 
75

 
1

 
(6
)
 
78

 
$
13

 
$
91

Tax benefit (expense)
 
(3
)
 
(8
)
 
—

 
2

 
(9
)
 
—

 
(9
)
After tax amount
 
5

 
67

 
1

 
(4
)
 
69

 
13

 
82

Amounts reclassified from accumulated other comprehensive loss(2)
 
16

 
—

 
(1
)
 
5

 
20

 
—

 
20

Net current period other comprehensive income
 
21

 
67

 
—

 
1

 
89

 
$
13

 
$
102

Balance at April 2, 2017
 
$
(664
)
 
$
(1,060
)
 
$
(1
)
 
$
(7
)
 
$
(1,732
)
 
 

 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance at December 31, 2017
 
$
(689
)
 
$
(812
)
 
$
1

 
$
(3
)
 
$
(1,503
)
 
 

 
 

Other comprehensive income before reclassifications
 
 

 
 

 
 

 
 

 
 

 
 

 
 

Before tax amount
 
(8
)
 
125

 
—

 
11

 
128

 
$
(7
)
 
$
121

Tax benefit (expense)
 
2

 
(33
)
 
—

 
(4
)
 
(35
)
 
—

 
(35
)
After tax amount
 
(6
)
 
92

 
—

 
7

 
93

 
(7
)
 
86

Amounts reclassified from accumulated other comprehensive loss(2)
 
14

 
—

 
(1
)
 
—

 
13

 
—

 
13

Net current period other comprehensive income (loss)
 
8

 
92

 
(1
)
 
7

 
106

 
$
(7
)
 
$
99

Balance at April 1, 2018
 
$
(681
)
 
$
(720
)
 
$
—

 
$
4

 
$
(1,397
)
 
 

 
 

____________________________________
(1) We adopted the new accounting pronouncement "Accounting for Certain Financial Instruments" on January 1, 2018, which moved the treatment of unrealized gains and losses for non-debt securities directly to the
Condensed Consolidated Statements of Income on a prospective basis. The impact of adopting this standard includes a one-time cumulative effect adjustment to opening retained earnings of $2 million. See NOTE 14, "RECENTLY ADOPTED AND RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS," to our Condensed Consolidated Financial Statements for more information.
(2) Amounts are net of tax. Reclassifications out of accumulated other comprehensive income (loss) and the related tax effects are immaterial for separate disclosure.