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Table of Contents
VALERO ENERGY CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

Changes in accumulated other comprehensive income (loss) by component, net of tax, were as follows (in millions):
Foreign
Currency
Translation
Adjustment
Defined
Benefit
Plan
Items
Gains and
(Losses) on
Cash Flow
Hedges
Total
Balance as of December 31, 2012 $ 665
$ (558)
$ 1
$ 108
Other comprehensive income (loss)
before reclassifications (98)
483
(2)
383
Amounts reclassified from
accumulated other comprehensive
income (loss) —
17
1
18
Net other comprehensive income (loss) (98)
500
(1)
401
Separation of retail business (159)
—
—
(159)
Balance as of December 31, 2013 408
(58)
—
350
Other comprehensive loss
before reclassifications (407)
(309)
(1)
(717)
Amounts reclassified from
accumulated other comprehensive
income (loss) —
(1)
1
—
Net other comprehensive loss (407)
(310)
—
(717)
Balance as of December 31, 2014 1
(368)
—
(367)
Other comprehensive income (loss)
before reclassifications (606)
21
—
(585)
Amounts reclassified from
accumulated other comprehensive
income (loss) —
19
—
19
Net other comprehensive income (loss) (606)
40
—
(566)
Balance as of December 31, 2015 $ (605)
$ (328)
$ —
$ (933)
89