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Accumulated Other Comprehensive Loss (Tables)
 12 Months Ended
Dec. 31, 2023
Equity [Abstract]  
Changes in Accumulated Other Comprehensive Loss by Component

The changes in components of AOCL consisted of the following (dollars in millions):

 

 

 

Pension
and OPEB
liability
adjustments

 

 

Interest
rate swaps

 

 

Foreign
currency
items

 

 

Total

 

AOCL as of December 31, 2020

 

$

(19

)

 

$

(46

)

 

$

(24

)

 

$

(89

)

Other comprehensive income (loss) before reclassifications

 

 

12

 

 

 

14

 

 

 

(8

)

 

 

18

 

Amounts reclassified from AOCL

 

 

(9

)

 

 

15

 

 

 

—

 

 

 

6

 

Income tax expense

 

 

(1

)

 

 

(7

)

 

 

—

 

 

 

(8

)

Net current period other comprehensive income (loss)

 

$

2

 

 

$

22

 

 

$

(8

)

 

$

16

 

AOCL as of December 31, 2021

 

$

(17

)

 

$

(24

)

 

$

(32

)

 

$

(73

)

Other comprehensive income (loss) before reclassifications

 

 

39

 

 

 

44

 

 

 

(10

)

 

 

73

 

Amounts reclassified from AOCL

 

 

(10

)

 

 

6

 

 

 

—

 

 

 

(4

)

Income tax expense

 

 

(7

)

 

 

(11

)

 

 

—

 

 

 

(18

)

Net current period other comprehensive income (loss)

 

$

22

 

 

$

39

 

 

$

(10

)

 

$

51

 

AOCL as of December 31, 2022

 

$

5

 

 

$

15

 

 

$

(42

)

 

$

(22

)

Other comprehensive income before reclassifications

 

 

3

 

 

 

7

 

 

 

2

 

 

 

12

 

Amounts reclassified from AOCL

 

 

(12

)

 

 

(12

)

 

 

—

 

 

 

(24

)

Income tax benefit

 

 

2

 

 

 

1

 

 

 

—

 

 

 

3

 

Net current period other comprehensive (loss) income

 

$

(7

)

 

$

(4

)

 

$

2

 

 

$

(9

)

AOCL as of December 31, 2023

 

$

(2

)

 

$

11

 

 

$

(40

)

 

$

(31

)
Reclassification out of Accumulated Other Comprehensive Loss

The following table shows the location in the Consolidated Statements of Comprehensive Income affected by reclassifications from AOCL (dollars in millions):

 

 

 

Amounts reclassified from AOCL

 

 

 

AOCL Components

 

Year ended December 31, 2023

 

 

Year ended December 31, 2022

 

 

Year ended December 31, 2021

 

 

Affected line item in the
 Consolidated Statements of Comprehensive Income

Interest rate swaps

 

$

12

 

 

$

(6

)

 

$

(15

)

 

Interest expense, net

Prior service credit

 

 

10

 

 

 

11

 

 

 

10

 

 

Other income (expense), net

Recognized actuarial gain (loss)

 

 

2

 

 

 

(1

)

 

 

(1

)

 

Other income (expense), net

Total reclassifications, before tax

 

 

24

 

 

 

4

 

 

 

(6

)

 

Income before income taxes

Income tax (expense) benefit

 

 

(5

)

 

 

(1

)

 

 

1

 

 

Income tax expense

Total reclassifications

 

$

19

 

 

$

3

 

 

$

(5

)