Changes in Accumulated Other Comprehensive Income (Loss)

9 Months Ended

Sep. 30, 2026

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

Changes in Accumulated Other Comprehensive Income (Loss)

Changes In Accumulated Other Comprehensive Income (Loss)

AOCI is comprised of items that have not been recognized in earnings but may be recognized in earnings in the future when certain events occur. Changes in each component for the three and nine months ended September 30, 2026 and 2025 were as follows:

Table 10.1: Changes in Accumulated Other Comprehensive Income (Loss)

(Millions), net of tax	Three Months Ended
	September 30, 2026		Net Change		June 30, 2026		September 30, 2025		Net Change		June 30, 2025
Net unrealized gains (losses) on debt securities	$	(57)	$	(35)	$	(22)	$	(5)	$	1	$	(6)
Foreign currency translation adjustment gains (losses), net of hedges (a)	(2,862)		(20)		(2,842)		(2,798)		(6)		(2,792)
Net unrealized pension and other postretirement benefit gains (losses)	(474)		17		(491)		(446)		4		(450)
Accumulated other comprehensive income (loss)	$	(3,393)	$	(38)	$	(3,355)	$	(3,249)	$	(1)	$	(3,248)
(Millions), net of tax	Nine Months Ended
	September 30, 2026		Net Change		December 31, 2025		September 30, 2025		Net Change		December 31, 2024
Net unrealized gains (losses) on debt securities	$	(57)	$	(53)	$	(4)	$	(5)	$	4	$	(9)
Foreign currency translation adjustment gains (losses), net of hedges (a)	(2,862)		(79)		(2,783)		(2,798)		126		(2,924)
Net unrealized pension and other postretirement benefit gains (losses)	(474)		16		(490)		(446)		16		(462)
Accumulated other comprehensive income (loss)	$	(3,393)	$	(116)	$	(3,277)	$	(3,249)	$	146	$	(3,395)

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

The following table shows the tax impact for the three and nine months ended September 30, 2026 and 2025 for the changes in each component of AOCI presented above:

Table 10.2: Tax Impact for Changes in Accumulated Other Comprehensive Income (Loss)

	Tax expense (benefit)
	Three Months Ended September 30,				Nine Months Ended September 30,
(Millions)	2026		2025		2026		2025
Net unrealized gains (losses) on debt securities	$	(12)	$	—	$	(17)	$	1
Foreign currency translation adjustment, net of hedges	(18)		(11)		(18)		(208)
Pension and other postretirement benefits	1		3		16		(4)
Total tax impact	$	(30)	$	(8)	$	(19)	$	(212)

Reclassifications out of AOCI into the Consolidated Statements of Income, net of taxes, for the three and nine months ended September 30, 2026 and 2025 were not significant.