ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) – NET (Tables)

6 Months Ended

Jun. 30, 2024

Schedule of Accumulated Other Comprehensive Income (Loss)

Changes in Accumulated other comprehensive income (loss) (“AOCI”) by component, net of income taxes, were as follows.


	For the three months ended June 30, 2024
	Currency translation adjustments(1)		Pension and Other Postretirement Plans		Cash flow hedges		Total AOCI
March 31, 2024	$	(1,781)	$	997	$	(2)	$	(787)
Other comprehensive income (loss) before reclassifications – net of taxes of $(6), $—, and $(2)	(30)		(1)		9		(23)
Reclassifications from AOCI – net of taxes(2) of $—, $10, and $—	—		(35)		—		(36)
Other comprehensive income (loss)	(30)		(36)		8		(58)


Less: Other comprehensive income (loss) attributable to noncontrolling interests	—		—		—		—
June 30, 2024	$	(1,812)	$	961	$	6	$	(845)


	For the three months ended June 30, 2023
	Currency translation adjustments(1)		Pension and Other Postretirement Plans		Cash flow hedges		Total AOCI
March 31, 2023	$	(1,760)	$	1,865	$	(30)	$	75
Other comprehensive income (loss) before reclassifications – net of taxes of $28, $(11), and $(2)	3		36		5		44

Reclassifications from AOCI – net of taxes(2) of $—, $17, and $(1)	—		(54)		5		(49)
Other comprehensive income (loss)	3		(18)		10		(5)

Less: Other comprehensive income (loss) attributable to noncontrolling interests	—		—		—		—
June 30, 2023	$	(1,757)	$	1,847	$	(20)	$	70


	For the six months ended June 30, 2024
	Currency translation adjustments(1)		Pension and Other Postretirement Plans		Cash flow hedges		Total AOCI
December 31, 2023	$	(1,706)	$	1,033	$	(18)	$	(691)
Other comprehensive income (loss) before reclassifications – net of taxes of $(14), $(1), and $(7)	(106)		1		24		(81)
Reclassifications from AOCI – net of taxes(2) of $—, $22, and $—	—		(73)		—		(73)
Other comprehensive income (loss)	(106)		(71)		24		(154)


Less: Other comprehensive income (loss) attributable to noncontrolling interests	—		—		—		—
June 30, 2024	$	(1,812)	$	961	$	6	$	(845)


	For the six months ended June 30, 2023
	Currency translation adjustments(1)		Pension and Other Postretirement Plans		Cash flow hedges		Total AOCI
December 31, 2022	$	(1,845)	$	(42)	$	9	$	(1,878)
Other comprehensive income (loss) before reclassifications – net of taxes of $17, $(9), and $2	60		23		(8)		75

Reclassifications from AOCI – net of taxes(2) of $—, $33, and $6	—		(106)		(21)		(127)
Other comprehensive income (loss)	60		(83)		(29)		(52)
Spin-Off related adjustments – net of taxes of $—, $(509), and $—	28		1,972		—		2,000
Less: Other comprehensive income (loss) attributable to noncontrolling interests	—		—		—		—
June 30, 2023	$	(1,757)	$	1,847	$	(20)	$	70

(1) The amount of Currency translation adjustments recognized in Other comprehensive income (loss) (“OCI”) during the three and six months ended June 30, 2024 and 2023 included net gains (losses) relating to net investment hedges, as further discussed in Note 12, “Financial Instruments and Fair Value Measurements.”

(2) Reclassifications from AOCI into earnings for Pension and Other Postretirement Plans are recognized within Non-operating benefit (income) costs, while Cash flow hedges are recognized within Cost of products and Cost of services in our Condensed Consolidated Statements of Income.