ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) – NET

12 Months Ended

Dec. 31, 2024

Equity [Abstract]

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) – NET

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) – NET

Changes in Accumulated other comprehensive income (loss) – net by component were as follows.

	Currency translation adjustments(1)		Pension and Other Postretirement Plans		Cash flow hedges		Total AOCI
December 31, 2021	$	(969)	$	(100)	$	32	$	(1,037)
Other comprehensive income (loss) before reclassifications – net of taxes of $(5), $(39), and $(10)	(878)		58		27		(793)
Reclassifications from AOCI – net of taxes(2) of $—, $—, and $17	—		—		(50)		(50)
Other comprehensive income (loss)	(878)		58		(23)		(843)
Less: Other comprehensive income (loss) attributable to noncontrolling interests	(2)		—		—		(2)
December 31, 2022	(1,845)		(42)		9		(1,878)
Other comprehensive income (loss) before reclassifications(3) – net of taxes of $22, $186, and $1	74		(601)		(5)		(532)
Reclassifications from AOCI – net of taxes(2) of $—, $97, and $6	—		(296)		(22)		(318)
Other comprehensive income (loss)	74		(897)		(27)		(850)
Spin-Off related adjustments – net of taxes(4) of $— $(509), and $—	28		1,972		—		2,000
Less: Other comprehensive income (loss) attributable to noncontrolling interests	(37)		—		—		(37)
December 31, 2023	(1,706)		1,033		(18)		(691)
Other comprehensive income (loss) before reclassifications – net of taxes of $(19), $93, and $(11)	(271)		(306)		33		(545)
Reclassifications from AOCI – net of taxes(2) of $—, $44, and $(1)	—		(150)		3		(147)
Other comprehensive income (loss)	(271)		(456)		36		(691)
Less: Other comprehensive income (loss) attributable to noncontrolling interests	(4)		—		—		(4)
December 31, 2024	$	(1,973)	$	576	$	18	$	(1,379)

(1) The amount of CTA recognized in Other comprehensive income (loss) (“OCI”) included net gains (losses) relating to net investment hedges, as further discussed in Note 13, “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 Consolidated and Combined Statements of Income.

(3) Includes pre-tax impact to Pension and Other Postretirement Plans of $(305) million for the pension plan amendment and related remeasurement of plan assets and benefit obligations. Refer to Note 10, “Postretirement Benefit Plans” for further information.

(4) Includes impact of $1,972 million to Pension and Other Postretirement Plans for unrecognized gain transferred from the GE pension and other postretirement plans and $28 million to CTA associated with other Spin-Off related adjustments. Refer to Note 10, “Postretirement Benefit Plans” for further information on the unrecognized gain transferred from the GE pension and other postretirement plans in connection with the Spin-Off.