13. Supplemental financial information
Acquisition charges
We incurred various costs as a result of the 2011 acquisition of National that are included in Other for segment reporting purposes, consistent with how management measures the performance of its segments. For the years ended December 31, 2015, 2014 and 2013, Acquisition charges were primarily from the ongoing amortization of intangible assets resulting from the National acquisition. See Note 9 for additional information.
Other Income (Expense), Net (OI&E)
|
|
For Years Ended December 31, |
|
|
|
2015 |
|
|
2014 |
|
|
2013 |
|
|
Lease income |
$ |
|
14 |
|
|
$ |
|
14 |
|
|
$ |
|
14 |
|
|
Tax interest income (expense) |
|
|
8 |
|
|
|
|
6 |
|
|
|
|
(10 |
) |
|
Interest income |
|
|
6 |
|
|
|
|
7 |
|
|
|
|
10 |
|
|
Currency exchange gains (losses) |
|
|
5 |
|
|
|
|
(4 |
) |
|
|
|
(2 |
) |
|
Investment gains (losses) |
|
|
3 |
|
|
|
|
5 |
|
|
|
|
18 |
|
|
Other |
|
|
(4 |
) |
|
|
|
(7 |
) |
|
|
|
(13 |
) |
|
Total |
$ |
|
32 |
|
|
$ |
|
21 |
|
|
$ |
|
17 |
|
Prepaid Expenses and Other Current Assets
|
|
December 31, |
|
|
|
2015 |
|
|
2014 |
|
|
Prepaid taxes on intercompany inventory profits, net |
$ |
|
801 |
|
|
$ |
|
693 |
|
|
Other prepaid expenses and current assets |
|
|
199 |
|
|
|
|
157 |
|
|
Total |
$ |
|
1,000 |
|
|
$ |
|
850 |
|
Property, Plant and Equipment at Cost
|
|
Depreciable |
|
December 31, |
|
|
|
Lives (Years) |
|
2015 |
|
|
2014 |
|
|
Land |
n/a |
|
$ |
|
127 |
|
|
$ |
|
137 |
|
|
Buildings and improvements |
5 - 40 |
|
|
|
2,789 |
|
|
|
|
2,801 |
|
|
Machinery and equipment |
3 - 10 |
|
|
|
2,549 |
|
|
|
|
3,328 |
|
|
Total |
|
|
$ |
|
5,465 |
|
|
$ |
|
6,266 |
|
Accumulated Other Comprehensive Income (Loss), Net of Taxes (AOCI)
|
|
December 31, |
|
|
|
2015 |
|
|
2014 |
|
|
Postretirement benefit plans: |
|
|
|
|
|
|
|
|
|
|
Net actuarial loss |
$ |
|
(550 |
) |
|
$ |
|
(529 |
) |
|
Prior service credit |
|
|
20 |
|
|
|
|
— |
|
|
Cash flow hedge derivative |
|
|
(2 |
) |
|
|
|
(3 |
) |
|
Total |
$ |
|
(532 |
) |
|
$ |
|
(532 |
) |
Details on amounts reclassified out of Accumulated other comprehensive income (loss), net of taxes, to Net income
Our Consolidated Statements of Comprehensive Income include items that have been recognized within Net income during the years ended December 31, 2015, 2014 and 2013. The table below details where on the Consolidated Statements of Income these transactions are recorded.
|
|
|
For Years Ended |
|
|
Impact to |
|
|
|
December 31, |
|
|
Related Statement |
|
Details about AOCI Components |
|
2015 |
|
|
2014 |
|
|
2013 |
|
|
of Income Line |
|
Net actuarial gains (losses) of defined benefit plans: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Recognized net actuarial loss and Settlement losses (a) |
|
$ |
|
78 |
|
|
$ |
|
63 |
|
|
$ |
|
108 |
|
|
Increase to Pension expense (b) |
|
Tax effect |
|
|
|
(25 |
) |
|
|
|
(21 |
) |
|
|
|
(37 |
) |
|
Decrease to Provision for income taxes |
|
Recognized within Net income, net of taxes |
|
$ |
|
53 |
|
|
$ |
|
42 |
|
|
$ |
|
71 |
|
|
Decrease to Net income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Prior service (cost) credit of defined benefit plans: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortization of prior service cost (credit) and Curtailment gain (a) |
|
$ |
|
— |
|
|
$ |
|
— |
|
|
$ |
|
(5 |
) |
|
Decrease to Pension expense (b) |
|
Tax effect |
|
|
|
— |
|
|
|
|
— |
|
|
|
|
2 |
|
|
Increase to Provision for income taxes |
|
Recognized within Net income, net of taxes |
|
$ |
|
— |
|
|
$ |
|
— |
|
|
$ |
|
(3 |
) |
|
Increase to Net income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Derivative instruments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amortization of treasury rate locks |
|
$ |
|
2 |
|
|
$ |
|
2 |
|
|
$ |
|
2 |
|
|
Increase to Interest and debt expense |
|
Tax effect |
|
|
|
(1 |
) |
|
|
|
(1 |
) |
|
|
|
(1 |
) |
|
Decrease to Provision for income taxes |
|
Recognized within Net income, net of taxes |
|
$ |
|
1 |
|
|
$ |
|
1 |
|
|
$ |
|
1 |
|
|
Decrease to Net income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) Detailed in Note 10. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(b) Pension expense is included in COR, R&D, SG&A and Restructuring charges/other in the Consolidated Statements of Income. |
|