Note 9 - Accumulated Other Comprehensive Income/Loss

9 Months Ended

Sep. 30, 2024

Notes to Financial Statements

Comprehensive Income (Loss) Note [Text Block]

9. Accumulated Other Comprehensive Income/Loss

Reclassifications out of accumulated other comprehensive income/loss were as follows (net of tax):

Millions	Defined benefit plans			Foreign currency translation			Unrealized gain on derivative instruments [a]		Total
Balance at July 1, 2024	$	(483	)	$	(139	)	$	16	$	(606	)
Other comprehensive income/(loss) before reclassifications		-			(86	)		-		(86	)
Amounts reclassified from accumulated other comprehensive income/(loss) [b]		-			-			-		-
Net quarter-to-date other comprehensive income/(loss), net of taxes of $1 million		-			(86	)		-		(86	)
Balance at September 30, 2024	$	(483	)	$	(225	)	$	16	$	(692	)
Balance at July 1, 2023	$	(373	)	$	(160	)	$	16	$	(517	)
Other comprehensive income/(loss) before reclassifications		(1	)		22			-		21
Amounts reclassified from accumulated other comprehensive income/(loss) [b]		(1	)		-			-		(1	)
Net quarter-to-date other comprehensive income/(loss), net of taxes of ($1) million		(2	)		22			-		20
Balance at September 30, 2023	$	(375	)	$	(138	)	$	16	$	(497	)

[a]	Related to interest rate swaps from equity method investments.
[b]	The accumulated other comprehensive income/loss reclassification components are 1) prior service cost/credit and 2) net actuarial loss, which are both included in the computation of net periodic pension benefit/cost. See Note 5 Retirement Plans for additional details.

Millions	Defined benefit plans			Foreign currency translation			Unrealized gain on derivative instruments [a]		Total
Balance at January 1, 2024	$	(484	)	$	(146	)	$	16	$	(614	)
Other comprehensive income/(loss) before reclassifications		2			(79	)		-		(77	)
Amounts reclassified from accumulated other comprehensive income/(loss) [b]		(1	)		-			-		(1	)
Net year-to-date other comprehensive income/(loss), net of taxes of $1 million		1			(79	)		-		(78	)
Balance at September 30, 2024	$	(483	)	$	(225	)	$	16	$	(692	)
Balance at January 1, 2023	$	(378	)	$	(204	)	$	-	$	(582	)
Other comprehensive income/(loss) before reclassifications		5			66			16		87
Amounts reclassified from accumulated other comprehensive income/(loss) [b]		(2	)		-			-		(2	)
Net year-to-date other comprehensive income/(loss), net of taxes of ($4) million		3			66			16		85
Balance at September 30, 2023	$	(375	)	$	(138	)	$	16	$	(497	)

[a]	Related to interest rate swaps from equity method investments.
[b]	The accumulated other comprehensive income/loss reclassification components are 1) prior service cost/credit and 2) net actuarial loss, which are both included in the computation of net periodic pension benefit/cost. See Note 5 Retirement Plans for additional details.