Accumulated Other Comprehensive Loss (Tables)

3 Months Ended

Mar. 31, 2021

Equity [Abstract]

Accumulated Other Comprehensive Income (Loss)

The changes in each component of accumulated other comprehensive loss ("AOCL") for the three months ended March 31, 2021 and 2020 were as follows:

Accumulated Other Comprehensive Loss	Three Months Ended
In millions	Mar 31, 2021		Mar 31, 2020
Unrealized Gains (Losses) on Investments
Beginning balance	$	104	$	64
Unrealized gains (losses) on investments	(54)		(118)
Less: Tax (expense) benefit	11		25
Net unrealized gains (losses) on investments	(43)		(93)
(Gains) losses reclassified from AOCL to net income 1	(8)		(9)
Less: Tax expense (benefit) 2	2		2
Net (gains) losses reclassified from AOCL to net income	(6)		(7)
Other comprehensive income (loss), net of tax	(49)		(100)
Ending balance	$	55	$	(36)
Cumulative Translation Adjustment
Beginning balance	$	(930)	$	(1,135)
Gains (losses) on foreign currency translation	(217)		(161)
Less: Tax (expense) benefit	(36)		12
Net gains (losses) on foreign currency translation	(253)		(149)
(Gains) losses reclassified from AOCL to net income 3	—		(14)
Other comprehensive income (loss), net of tax	(253)		(163)
Ending balance	$	(1,183)	$	(1,298)
Pension and Other Postretirement Benefits
Beginning balance	$	(9,559)	$	(8,781)
Gains (losses) arising during the period 4	1,268		—
Less: Tax (expense) benefit	(298)		—
Net gains (losses) arising during the period	970		—
Amortization and recognition of net loss and prior service credits 5	198		185
Less: Tax expense (benefit) 2	(34)		(43)
Net loss and prior service credits reclassified from AOCL to net income	164		142
Other comprehensive income (loss), net of tax	1,134		142
Ending balance	$	(8,425)	$	(8,639)
Derivative Instruments
Beginning balance	$	(470)	$	(394)
Gains (losses) on derivative instruments	122		(176)
Less: Tax (expense) benefit	(9)		10
Net gains (losses) on derivative instruments	113		(166)
(Gains) losses reclassified from AOCL to net income 6	(3)		7
Less: Tax expense (benefit) 2	—		(3)
Net (gains) losses reclassified from AOCL to net income	(3)		4
Other comprehensive income (loss), net of tax	110		(162)
Ending balance	$	(360)	$	(556)
Total AOCL ending balance	$	(9,913)	$	(10,529)

1.Reclassified to "Net sales" and "Sundry income (expense) - net."

2.Reclassified to "Provision for income taxes on continuing operations."

3.Reclassified to "Sundry income (expense) - net."

4.See Note 16 for additional information.

5.These AOCL components are included in the computation of net periodic benefit cost of the Company's defined benefit pension and other postretirement benefit plans. See Note 16 for additional information.

6.Reclassified to "Cost of sales," "Sundry income (expense) - net" and "Interest expense and amortization of debt discount."