ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) – NET

3 Months Ended

Mar. 31, 2023

Equity [Abstract]

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) – NET

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) – NET

Changes in Accumulated other comprehensive income (loss) (“AOCI”) by component, net of income taxes, for the three months ended March 31, 2023 and 2022 were as follows:

	For the three months ended March 31, 2023
	Currency translation adjustments(a)		Benefit plans		Cash flow hedges		Total AOCI
December 31, 2022	$	(1,845)	$	(42)	$	9	$	(1,878)
Other comprehensive income (loss) before reclasses – net of taxes of $(11), $2, and $4	85		(13)		(13)		59
Unrecognized gain transferred from GE pension – net of taxes of $0, $(509), and $0(b)	—		1,972		—		1,972
Reclasses from AOCI – net of taxes of $0, $16, and $7	—		(52)		(26)		(78)
March 31, 2023	$	(1,760)	$	1,865	$	(30)	$	75

	For the three months ended March 31, 2022
	Currency translation adjustments(a)		Benefit plans		Cash flow hedges		Total AOCI
December 31, 2021	$	(969)	$	(100)	$	32	$	(1,037)
Other comprehensive income (loss) before reclasses – net of taxes of $(2), $(9), and $(6)	(153)		(5)		35		(123)
Reclasses from AOCI – net of taxes of $0, $0, and $0	—		—		(11)		(11)
March 31, 2022	$	(1,122)	$	(105)	$	56	$	(1,171)

(a) The amount of foreign currency translation recognized in Other comprehensive income (loss) during the three months ended March 31, 2023 and 2022 included net gains (losses) relating to net investment hedges, as further discussed in Note 12, “Financial Instruments and Fair Value Measurements.”

(b) Refer to Note 9, “Postretirement Benefit Plans” for further information on the unrecognized gain transferred from GE pension in connection with the Spin-Off.