XML 70 R41.htm IDEA: XBRL DOCUMENT v3.24.2
Equity Activity (Tables)
6 Months Ended
Jun. 30, 2024
Stockholders' Equity Note [Abstract]  
Reclassifications and taxes related to items of other comprehensive income
(Dollars in millions)Before Tax
Amount
Tax (Expense)/
Benefit
Net of Tax
Amount
For the three months ended June 30, 2024:
Other comprehensive income/(loss):   
Foreign currency translation adjustments$$(68)$(66)
Net changes related to available-for-sale securities:  
Unrealized gains/(losses) arising during the period$$$
Reclassification of (gains)/losses to other (income) and expense— — — 
Total net changes related to available-for-sale securities$$$
Unrealized gains/(losses) on cash flow hedges:  
Unrealized gains/(losses) arising during the period$103 $(28)$75 
Reclassification of (gains)/losses to:
   
Cost of services(9)(7)
Cost of sales(15)(10)
Cost of financing
SG&A expense(7)(5)
Other (income) and expense(21)(16)
Interest expense(2)
Total unrealized gains/(losses) on cash flow hedges$61 $(16)$45 
Retirement-related benefit plans: (1)
   
Prior service costs/(credits)$— $— $— 
Net (losses)/gains arising during the period
Curtailments and settlements(1)
Amortization of prior service costs/(credits)(2)(1)
Amortization of net (gains)/losses258 (71)187 
Total retirement-related benefit plans$259 $(69)$190 
Other comprehensive income/(loss)$322 $(153)$169 
(1)These accumulated other comprehensive income (AOCI) components are included in the computation of net periodic pension cost. Refer to note 18, “Retirement-Related Benefits,” for additional information.
(Dollars in millions)Before Tax
Amount
Tax (Expense)/
Benefit
Net of Tax
Amount
For the three months ended June 30, 2023:
Other comprehensive income/(loss):   
Foreign currency translation adjustments$116 $(34)$82 
Net changes related to available-for-sale securities:   
Unrealized gains/(losses) arising during the period$(17)$$(12)
Reclassification of (gains)/losses to other (income) and expense— — — 
Total net changes related to available-for-sale securities$(17)$$(12)
Unrealized gains/(losses) on cash flow hedges:   
Unrealized gains/(losses) arising during the period$178 $(48)$130 
Reclassification of (gains)/losses to:   
Cost of services(1)
Cost of sales(2)(1)
Cost of financing(1)
SG&A expense(1)
Other (income) and expense(55)14 (41)
Interest expense22 (5)16 
Total unrealized gains/(losses) on cash flow hedges$148 $(40)$109 
Retirement-related benefit plans: (1)
   
Prior service costs/(credits)$— $$
Net (losses)/gains arising during the period
Curtailments and settlements(1)
Amortization of prior service costs/(credits)(2)(2)
Amortization of net (gains)/losses130 (38)92 
Total retirement-related benefit plans$134 $(31)$102 
Other comprehensive income/(loss)$381 $(101)$280 
(1)These AOCI components are included in the computation of net periodic pension cost. Refer to note 18, “Retirement-Related Benefits,” for additional information.
(Dollars in millions)Before Tax
Amount
Tax (Expense)/
Benefit
Net of Tax
Amount
For the six months ended June 30, 2024:
Other comprehensive income/(loss):   
Foreign currency translation adjustments$57 $(222)$(165)
Net changes related to available-for-sale securities:   
Unrealized gains/(losses) arising during the period$$$
Reclassification of (gains)/losses to other (income) and expense— — — 
Total net changes related to available-for-sale securities$$$
Unrealized gains/(losses) on cash flow hedges:   
Unrealized gains/(losses) arising during the period$279 $(75)$204 
Reclassification of (gains)/losses to:
   
Cost of services(14)(10)
Cost of sales(27)(18)
Cost of financing(1)
SG&A expense(10)(7)
Other (income) and expense58 (15)44 
Interest expense17 (4)13 
Total unrealized gains/(losses) on cash flow hedges$307 $(79)$227 
Retirement-related benefit plans: (1)
   
Prior service costs/(credits)$— $— $— 
Net (losses)/gains arising during the period
Curtailments and settlements(1)
Amortization of prior service costs/(credits)(4)(3)
Amortization of net (gains)/losses519 (143)376 
Total retirement-related benefit plans$520 $(141)$379 
Other comprehensive income/(loss)$885 $(442)$442 
(1)These AOCI components are included in the computation of net periodic pension cost. Refer to note 18, “Retirement-Related Benefits,” for additional information.
(Dollars in millions)Before Tax
Amount
Tax (Expense)/
Benefit
Net of Tax
Amount
For the six months ended June 30, 2023:
Other comprehensive income/(loss):   
Foreign currency translation adjustments$29 $22 $52 
Net changes related to available-for-sale securities:   
Unrealized gains/(losses) arising during the period$(1)$$(1)
Reclassification of (gains)/losses to other (income) and expense— — — 
Total net changes related to available-for-sale securities$(1)$$(1)
Unrealized gains/(losses) on cash flow hedges:   
Unrealized gains/(losses) arising during the period$149 $(41)$107 
Reclassification of (gains)/losses to:   
Cost of services(1)
Cost of sales(17)(12)
Cost of financing(2)
SG&A expense(10)(7)
Other (income) and expense(181)45 (135)
Interest expense42 (11)32 
Total unrealized gains/(losses) on cash flow hedges$(3)$(1)$(4)
Retirement-related benefit plans: (1)
   
Prior service costs/(credits)$— $$
Net (losses)/gains arising during the period
Curtailments and settlements(1)
Amortization of prior service costs/(credits)(4)(3)
Amortization of net (gains)/losses261 (76)185 
Total retirement-related benefit plans$263 $(69)$194 
Other comprehensive income/(loss)$289 $(48)$241 
(1)These AOCI components are included in the computation of net periodic pension cost. Refer to note 18, “Retirement-Related Benefits,” for additional information.
Accumulated other comprehensive income/(loss) (net of tax)
(Dollars in millions)Net Unrealized
Gains/(Losses)
on Cash Flow
Hedges
Foreign
Currency
Translation
Adjustments (1)
Net Change
Retirement-
Related
Benefit
Plans
Net Unrealized
Gains/(Losses)
on Available-
For-Sale
Securities
Accumulated
Other
Comprehensive
Income/ (Loss)
January 1, 2024$(106)$(3,488)$(15,165)$(1)$(18,761)
Other comprehensive income before reclassifications204 (165)42 
Amount reclassified from accumulated other comprehensive income
24 — 377 — 400 
Total change for the period$227 $(165)$379 $$442 
June 30, 2024$121 $(3,653)$(14,786)$(1)$(18,319)

(Dollars in millions)Net Unrealized
Gains/(Losses)
on Cash Flow
Hedges
Foreign
Currency
Translation
Adjustments (1)
Net Change
Retirement-
Related
Benefit
Plans
Net Unrealized
Gains/(Losses)
on Available-
For-Sale
Securities
Accumulated
Other
Comprehensive
Income/ (Loss)
January 1, 2023$(135)$(3,591)$(13,013)$(1)$(16,740)
Other comprehensive income before reclassifications107 52 (1)167 
Amount reclassified from accumulated other comprehensive income(112)— 185 — 74 
Total change for the period$(4)$52 $194 $(1)$241 
June 30, 2023$(139)$(3,539)$(12,819)$(2)$(16,499)
(1)Foreign currency translation adjustments are presented gross except for any associated hedges which are presented net of tax.