Accumulated Other Comprehensive Loss (Tables)

3 Months Ended

Mar. 31, 2025

Accumulated Other Comprehensive Income (Loss)

The changes in each component of accumulated other comprehensive loss ("AOCL") for the three months ended March 31, 2025 and 2024 were as follows:


Accumulated Other Comprehensive Loss	Three Months Ended
In millions	Mar 31, 2025		Mar 31, 2024
Unrealized Gains (Losses) on Investments
Beginning balance	$	(243)	$	(253)
Unrealized gains (losses) on investments	40		15
Tax (expense) benefit	(7)		(18)
Net unrealized gains (losses) on investments	33		(3)
(Gains) losses reclassified from AOCL to net income (loss) 1	(1)		(4)
Tax expense (benefit) 2	—		1
Net (gains) losses reclassified from AOCL to net income (loss)	(1)		(3)
Other comprehensive income (loss), net of tax	32		(6)
Ending balance	$	(211)	$	(259)
Cumulative Translation Adjustments
Beginning balance	$	(2,063)	$	(1,891)
Gains (losses) on foreign currency translation	126		(116)
Tax (expense) benefit	3		(3)
Net gains (losses) on foreign currency translation	129		(119)
(Gains) losses reclassified from AOCL to net income (loss) 3	(7)		(3)
Other comprehensive income (loss), net of tax	122		(122)
Ending balance	$	(1,941)	$	(2,013)
Pension and Other Postretirement Benefit Plans
Beginning balance	$	(5,720)	$	(5,486)
Gains (losses) arising during the period	—		(1)


Amortization of net loss and prior service credits reclassified from AOCL to net income (loss) 4	26		22
Tax expense (benefit) 2	(6)		(4)
Net loss and prior service credits reclassified from AOCL to net income (loss)	20		18
Other comprehensive income (loss), net of tax	20		17
Ending balance	$	(5,700)	$	(5,469)
Derivative Instruments
Beginning balance	$	(84)	$	(51)
Gains (losses) on derivative instruments	(15)		(33)
Tax (expense) benefit	(2)		3
Net gains (losses) on derivative instruments	(17)		(30)
(Gains) losses reclassified from AOCL to net income (loss) 5	(4)		10
Tax expense (benefit) 2	1		(2)
Net (gains) losses reclassified from AOCL to net income (loss)	(3)		8
Other comprehensive income (loss), net of tax	(20)		(22)
Ending balance	$	(104)	$	(73)
Total AOCL ending balance	$	(7,956)	$	(7,814)

1.Reclassified to "Net sales" and "Sundry income (expense) - net."

2.Reclassified to "Credit for income taxes."

3.Reclassified to "Sundry income (expense) - net."

4.These AOCL components are included in the computation of net periodic benefit cost (credit) of the Company's defined benefit pension and other postretirement benefit plans. See Note 14 for additional information.

5.Reclassified to "Cost of sales," "Sundry income (expense) - net" and "Interest expense and amortization of debt discount."