Other Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 2024

Changes in each component of other comprehensive income (loss) are as follows:


	Derivatives			Employee Benefit Plans			Foreign Currency Translation Adjustment		Accumulated Other Comprehensive Loss
Balance at January 1, 2022, net of taxes	$	144		$	(2,743)		$	(1,830)	$	(4,429)
Other comprehensive income (loss) before reclassification adjustments, pretax	684			70			(584)		170
Tax	(143)			12			(19)		(150)
Other comprehensive income (loss) before reclassification adjustments, net of taxes	541			82			(603)		20
Reclassification adjustments, pretax	(775)		(1)	329		(2)	—		(446)
Tax	163			(76)			—		87
Reclassification adjustments, net of taxes	(612)			253			—		(359)
Other comprehensive income (loss), net of taxes	(71)			335			(603)		(339)
Balance at December 31, 2022, net of taxes	73			(2,408)			(2,433)		(4,768)
Other comprehensive income (loss) before reclassification adjustments, pretax	114			(413)			17		(282)
Tax	(24)			86			63		125
Other comprehensive income (loss) before reclassification adjustments, net of taxes	90			(327)			80		(157)
Reclassification adjustments, pretax	(237)		(1)	(64)		(2)	9		(292)
Tax	50			6			—		56
Reclassification adjustments, net of taxes	(187)			(58)			9		(236)
Other comprehensive income (loss), net of taxes	(97)			(385)			89		(393)
Balance at December 31, 2023, net of taxes	(24)			(2,793)		(3)	(2,344)		(5,161)
Other comprehensive income (loss) before reclassification adjustments, pretax	508			647			(559)		596
Tax	(109)			(138)			23		(224)
Other comprehensive income (loss) before reclassification adjustments, net of taxes	399			509			(536)		372
Reclassification adjustments, pretax	(168)		(1)	(60)		(2)	20		(208)
Tax	35			17			—		52
Reclassification adjustments, net of taxes	(133)			(43)			20		(156)
Other comprehensive income (loss), net of taxes	266			466			(516)		216
Balance at December 31, 2024, net of taxes	$	242		$	(2,327)	(3)	$	(2,860)	$	(4,945)

(1) Primarily relates to foreign currency cash flow hedges that were reclassified from AOCL to Sales (see Note 6).

(2) Includes net amortization of prior service cost, actuarial gains and losses, settlements and curtailments included in net periodic benefit cost (see Note 13).

(3) Includes pension plan net loss of $3.0 billion and $3.5 billion at December 31, 2024 and 2023, respectively, and other postretirement benefit plan net gain of $400 million and $500 million at December 31, 2024 and 2023, respectively, as well as pension plan prior service credit of $174 million and $141 million at December 31, 2024 and 2023, respectively, and other postretirement benefit plan prior service credit of $61 million and $95 million at December 31, 2024 and 2023, respectively.