Accumulated Other Comprehensive Loss (Tables)

9 Months Ended

Sep. 30, 2023

Accumulated Other Comprehensive Income (Loss)

The changes in each component of accumulated other comprehensive loss ("AOCL") for the three and nine months ended September 30, 2023 and 2022 were as follows:


Accumulated Other Comprehensive Loss	Three Months Ended				Nine Months Ended
In millions	Sep 30, 2023		Sep 30, 2022		Sep 30, 2023		Sep 30, 2022
Unrealized Gains (Losses) on Investments
Beginning balance	$	(161)	$	(190)	$	(253)	$	59
Unrealized gains (losses) on investments	(33)		(61)		55		(385)
Tax (expense) benefit	9		(55)		48		12
Net unrealized gains (losses) on investments	(24)		(116)		103		(373)
(Gains) losses reclassified from AOCL to net income 1	4		(8)		(41)		2
Tax expense (benefit) 2	—		2		10		—
Net (gains) losses reclassified from AOCL to net income	4		(6)		(31)		2
Other comprehensive income (loss), net of tax	(20)		(122)		72		(371)
Ending balance	$	(181)	$	(312)	$	(181)	$	(312)
Cumulative Translation Adjustment
Beginning balance	$	(1,936)	$	(2,033)	$	(1,934)	$	(1,355)
Gains (losses) on foreign currency translation	(122)		(369)		(122)		(1,034)
Tax (expense) benefit	(6)		(17)		(16)		(7)
Net gains (losses) on foreign currency translation	(128)		(386)		(138)		(1,041)
(Gains) losses reclassified from AOCL to net income 3	(19)		(17)		(11)		(40)
Other comprehensive income (loss), net of tax	(147)		(403)		(149)		(1,081)
Ending balance	$	(2,083)	$	(2,436)	$	(2,083)	$	(2,436)
Pension and Other Postretirement Benefits
Beginning balance	$	(4,875)	$	(7,103)	$	(4,877)	$	(7,334)
Gains (losses) arising during the period	(4)		6		(7)		11


Amortization of net loss and prior service credits reclassified from AOCL to net income 4	3		155		8		468
Tax expense (benefit) 2	(1)		(36)		(1)		(123)
Net loss and prior service credits reclassified from AOCL to net income	2		119		7		345
Other comprehensive income (loss), net of tax	(2)		125		—		356
Ending balance	$	(4,877)	$	(6,978)	$	(4,877)	$	(6,978)
Derivative Instruments
Beginning balance	$	(95)	$	122	$	(75)	$	(347)
Gains (losses) on derivative instruments	(58)		122		(242)		802
Tax (expense) benefit	(2)		(31)		34		(114)
Net gains (losses) on derivative instruments	(60)		91		(208)		688
(Gains) losses reclassified from AOCL to net income 5	45		(80)		209		(222)
Tax expense (benefit) 2	(10)		11		(46)		25
Net (gains) losses reclassified from AOCL to net income	35		(69)		163		(197)
Other comprehensive income (loss), net of tax	(25)		22		(45)		491
Ending balance	$	(120)	$	144	$	(120)	$	144
Total AOCL ending balance	$	(7,261)	$	(9,582)	$	(7,261)	$	(9,582)

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

2.Reclassified to "Provision for income taxes."

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

4.These AOCL components are included in the computation of net periodic benefit cost (credit) of the Company's defined benefit pension and other postretirement benefit plans. See Note 12 for additional information.

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