Changes in Accumulated Other Comprehensive Income (Loss) (Tables)

9 Months Ended

Sep. 30, 2023

Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]

Components of comprehensive income (loss), net of tax

Changes in each component for the three and nine months ended September 30, 2023 and 2022 were as follows:

Three Months Ended September 30, 2023 (Millions), net of tax	Net Unrealized Gains (Losses) on Debt Securities		Foreign Currency Translation Adjustment Gains (Losses), net of hedges (a)		Net Unrealized Pension and Other Postretirement Benefit Gains (Losses)		Accumulated Other Comprehensive Income (Loss)
Balances as of June 30, 2023	$	(44)	$	(2,569)	$	(471)	$	(3,084)
Net change	14		(110)		4		(92)
Balances as of September 30, 2023	$	(30)	$	(2,679)	$	(467)	$	(3,176)

Nine Months Ended September 30, 2023 (Millions), net of tax	Net Unrealized Gains (Losses) on Debt Securities		Foreign Currency Translation Adjustment Gains (Losses), net of hedges (a)		Net Unrealized Pension and Other Postretirement Benefit Gains (Losses)		Accumulated Other Comprehensive  Income (Loss)
Balances as of December 31, 2022	$	(64)	$	(2,622)	$	(524)	$	(3,210)
Net change	34		(57)		57		34
Balances as of September 30, 2023	$	(30)	$	(2,679)	$	(467)	$	(3,176)

Three Months Ended September 30, 2022 (Millions), net of tax	Net Unrealized Gains (Losses) on Debt Securities		Foreign Currency Translation Adjustment Gains (Losses), net of hedges (a)		Net Unrealized Pension and Other Postretirement Benefit Gains (Losses)		Accumulated Other Comprehensive Income (Loss)
Balances as of June 30, 2022	$	(30)	$	(2,569)	$	(544)	$	(3,143)
Net change	(39)		(200)		5		(234)
Balances as of September 30, 2022	$	(69)	$	(2,769)	$	(539)	$	(3,377)

Nine Months Ended September 30, 2022 (Millions), net of tax	Net Unrealized Gains (Losses) on Debt Securities		Foreign Currency Translation Adjustment Gains (Losses), net of hedges (a)		Net Unrealized Pension and Other Postretirement Benefit Gains (Losses)		Accumulated Other Comprehensive Income (Loss)
Balances as of December 31, 2021	$	23	$	(2,392)	$	(576)	$	(2,945)
Net change	(92)		(377)		37		(432)
Balances as of September 30, 2022	$	(69)	$	(2,769)	$	(539)	$	(3,377)

(a)Refer to Note 8 for additional information on hedging activity.

AOCI income tax effect

The following table shows the tax impact for the three and nine months ended September 30 for the changes in each component of AOCI presented above:

	Tax expense (benefit)
	Three Months Ended September 30,				Nine Months Ended September 30,
(Millions)	2023		2022		2023		2022
Net unrealized gains (losses) on debt securities	$	5	$	(13)	$	11	$	(29)
Foreign currency translation adjustment, net of hedges	66		169		(32)		231
Pension and other postretirement benefits	6		16		6		33
Total tax impact	$	77	$	172	$	(15)	$	235