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Comprehensive Income
 6 Months Ended
Jun. 30, 2012
Comprehensive Income

Comprehensive Income

The following table presents the components of comprehensive income for the quarters and six months ended June 30, 2012 and 2011:

 

      Quarters Ended
June 30,		     Six Months Ended
June 30,		  
In millions    2012     2011     2012     2011  

Net income

    $ 1,347.0      $ 1,410.2      $ 2,613.7      $ 2,619.2   

Other comprehensive income (loss):

         

Foreign currency translation adjustments, net of hedging

      (526.6 )      289.9        (174.1 )      773.6   

Cash flow hedging adjustments

      11.5        (0.5 )      8.0        (4.0 ) 

Pension liability adjustment

      0.7        0.8        1.2        21.9   

Total other comprehensive income (loss)

      (514.4 )      290.2        (164.9 )      791.5   

Total comprehensive income

    $ 832.6      $ 1,700.4      $ 2,448.8      $ 3,410.7   

In June 2011, the Financial Accounting Standards Board issued an update to Topic 220—Comprehensive Income of the Accounting Standards Codification (ASC). The update is intended to increase the prominence of other comprehensive income in the financial statements. The guidance requires that the Company presents components of comprehensive income in either one continuous statement or two separate consecutive statements and no longer permits the presentation of comprehensive income in the Consolidated statement of shareholders’ equity. The Company adopted this new guidance effective January 1, 2012, as required, and included comprehensive income in the Condensed consolidated statement of net income and comprehensive income (unaudited) for interim reporting.