Changes in Accumulated Other Comprehensive Income (Loss)

3 Months Ended

Mar. 31, 2022

Changes in Accumulated Other Comprehensive Income (Loss)

Changes in Accumulated Other Comprehensive Income (Loss)

Note 4 — Changes in Accumulated Other Comprehensive Income (Loss)

The changes in accumulated other comprehensive income (loss), net of income taxes, are as follows:

	Three Months Ended March 31
									Cumulative Gains (Losses)
	Cumulative Foreign				Net Actuarial (Losses) and				on Derivative Instruments
	Currency Translation				Prior Service (Costs) and				Designated as Cash Flow
	Adjustments				Credits				Hedges
(in millions)	2022		2021		2022		2021		2022		2021
Balance at January 1	$	(5,839)	$	(4,859)	$	(2,670)	$	(3,871)	$	135	$	(216)
Other comprehensive income (loss) before reclassifications		(106)		(536)		17		22		(34)		96
Amounts reclassified from accumulated other comprehensive income		—		—		45		63		(22)		16
Net current period comprehensive income (loss)		(106)		(536)		62		85		(56)		112
Balance at March 31	$	(5,945)	$	(5,395)	$	(2,608)	$	(3,786)	$	79	$	(104)

(Income) loss amounts reclassified from accumulated other comprehensive income related to cash flow hedges are recorded as Cost of products sold. Net actuarial losses and prior service cost are included as a component of net periodic benefit costs; see Note 11 for additional details.