ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) – NET

9 Months Ended

Sep. 30, 2024

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) – NET

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


	For the three months ended September 30, 2024
	Currency translation adjustments(1)		Pension and Other Postretirement Plans		Cash flow hedges		Total AOCI
June 30, 2024	$	(1,812)	$	961	$	6	$	(845)
Other comprehensive income (loss) before reclassifications – net of taxes of $27, $8, and $10	177		(29)		(34)		114
Reclassifications from AOCI – net of taxes(2) of $—, $12, and $1	—		(38)		(3)		(41)
Other comprehensive income (loss)	177		(67)		(36)		74


Less: Other comprehensive income (loss) attributable to noncontrolling interests	—		—		—		—
September 30, 2024	$	(1,635)	$	894	$	(30)	$	(771)


	For the three months ended September 30, 2023
	Currency translation adjustments(1)		Pension and Other Postretirement Plans		Cash flow hedges		Total AOCI
June 30, 2023	$	(1,757)	$	1,847	$	(20)	$	70
Other comprehensive income (loss) before reclassifications – net of taxes of $(16), $69, and $(6)	(143)		(214)		18		(339)

Reclassifications from AOCI – net of taxes(2) of $—, $16, and $(1)	—		(50)		4		(46)
Other comprehensive income (loss)	(143)		(264)		22		(385)

Less: Other comprehensive income (loss) attributable to noncontrolling interests	(35)		—		—		(35)
September 30, 2023	$	(1,865)	$	1,583	$	2	$	(280)


	For the nine months ended September 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 $13, $7, and $3	70		(27)		(10)		33
Reclassifications from AOCI – net of taxes(2) of $—, $33, and $1	—		(111)		(3)		(114)
Other comprehensive income (loss)	70		(138)		(12)		(80)


Less: Other comprehensive income (loss) attributable to noncontrolling interests	—		—		—		—
September 30, 2024	$	(1,635)	$	894	$	(30)	$	(771)


	For the nine months ended September 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 $1, $60, and $(4)	(84)		(190)		10		(264)

Reclassifications from AOCI – net of taxes(2) of $—, $49, and $5	—		(156)		(17)		(173)
Other comprehensive income (loss)	(84)		(346)		(7)		(437)
Spin-Off related adjustments – net of taxes of $—, $(509), and $—	28		1,972		—		2,000
Less: Other comprehensive income (loss) attributable to noncontrolling interests	(36)		1		—		(35)
September 30, 2023	$	(1,865)	$	1,583	$	2	$	(280)

(1) The amount of Currency translation adjustments recognized in Other comprehensive income (loss) (“OCI”) during the three and nine months ended September 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.