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Equity Activity (Tables)
12 Months Ended
Dec. 31, 2024
Stockholders' Equity Note [Abstract]  
Reclassifications and taxes related to items of other comprehensive income
($ in millions)
For the year ended December 31, 2024:Before Tax
Amount
Tax (Expense)/
Benefit
Net of Tax
Amount
Other comprehensive income/(loss)   
Foreign currency translation adjustments$301 $(324)$(23)
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$389 $(113)$276 
Reclassification of (gains)/losses to:
Cost of services(22)(16)
Cost of sales(40)13 (27)
Cost of financing(2)
SG&A expense(16)(11)
Other (income) and expense125 (32)94 
Interest expense31 (8)24 
Total unrealized gains/(losses) on cash flow hedges$474 $(130)$343 
Retirement-related benefit plans (1)
Prior service costs/(credits)$(56)$11 $(45)
Net (losses)/gains arising during the period70 (65)
Curtailments and settlements3,159 (719)2,441 
Amortization of prior service (credits)/costs(7)(5)
Amortization of net (gains)/losses975 (201)775 
Total retirement-related benefit plans$4,142 $(971)$3,171 
Other comprehensive income/(loss)$4,919 $(1,426)$3,492 
(1)These AOCI components are included in the computation of net periodic pension cost and include the impact of pension settlement charges of $3.1 billion ($2.4 billion net of tax). Refer to note U, “Retirement-Related Benefits,” for additional information.
($ in millions)
For the year ended December 31, 2023:Before Tax
Amount
Tax (Expense)/
Benefit
Net of Tax
Amount
Other comprehensive income/(loss)   
Foreign currency translation adjustments$$100 $103 
Net changes related to available-for-sale securities   
Unrealized gains/(losses) arising during the period$$$
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$207 $(63)$144 
Reclassification of (gains)/losses to:   
Cost of services(1)
Cost of sales(22)(14)
Cost of financing14 (3)10 
SG&A expense(12)(8)
Other (income) and expense(209)53 (157)
Interest expense66 (17)49 
Total unrealized gains/(losses) on cash flow hedges$47 $(19)$28 
Retirement-related benefit plans (1)
   
Prior service costs/(credits)$$$
Net (losses)/gains arising during the period(3,115)536 (2,579)
Curtailments and settlements(1)
Amortization of prior service (credits)/costs(9)(6)
Amortization of net (gains)/losses515 (88)427 
Total retirement-related benefit plans$(2,602)$450 $(2,152)
Other comprehensive income/(loss)$(2,552)$531 $(2,021)
(1)These AOCI components are included in the computation of net periodic pension cost. Refer to note U, “Retirement-Related Benefits,” for additional information.
Accumulated Other Comprehensive Income/(Loss) (net of tax)
($ in millions)
For the year ended December 31, 2022:Before Tax
Amount
Tax (Expense)/
Benefit
Net of Tax
Amount
Other comprehensive income/(loss)   
Foreign currency translation adjustments$176 $(406)$(229)
Net changes related to available-for-sale securities   
Unrealized gains/(losses) arising during the period$(1)$$(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$241 $(64)$178 
Reclassification of (gains)/losses to:   
Cost of services(24)(18)
Cost of sales(99)28 (70)
Cost of financing24 (6)18 
SG&A expense(38)11 (28)
Other (income) and expense(349)88 (261)
Interest expense86 (22)64 
Total unrealized gains/(losses) on cash flow hedges$(158)$41 $(117)
Retirement-related benefit plans (1)
   
Prior service costs/(credits)$463 $(99)$364 
Net (losses)/gains arising during the period878 (183)695 
Curtailments and settlements5,970 (1,490)4,480 
Amortization of prior service (credits)/costs12 (3)
Amortization of net (gains)/losses1,596 (304)1,293 
Total retirement-related benefit plans$8,919 $(2,078)$6,841 
Other comprehensive income/(loss)$8,936 $(2,442)$6,494 
(1)These AOCI components are included in the computation of net periodic pension cost and include the impact of a pension settlement charge of $5.9 billion ($4.4 billion net of tax). Refer to note U, “Retirement-Related Benefits,” for additional information.
Accumulated other comprehensive income/(loss) (net of tax)
($ 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)
December 31, 2021$(18)$(3,362)$(19,854)$(1)$(23,234)
Other comprehensive income before reclassifications178 (229)1,059 (1)1,007 
Amount reclassified from accumulated other comprehensive income (2)
(295)— 5,782 — 5,487 
Total change for the period(117)(229)6,841 (1)6,494 
December 31, 2022(135)(3,591)(13,013)(1)(16,740)
Other comprehensive income before reclassifications144 103 (2,577)(2,331)
Amount reclassified from accumulated other comprehensive income(115)— 425 — 310 
Total change for the period28 103 (2,152)(2,021)
December 31, 2023(106)(3,488)(15,165)(1)(18,761)
Other comprehensive income before reclassifications276 (23)(39)215 
Amount reclassified from accumulated other comprehensive income (3)
67 — 3,210 — 3,278 
Total change for the period343 (23)3,171 3,492 
December 31, 2024$237 $(3,512)$(11,994)$$(15,269)
(1)Foreign currency translation adjustments are presented gross except for any associated hedges which are presented net of tax.
(2)Net change in retirement-related benefit plans includes the impact of a pension settlement charge of $5.9 billion ($4.4 billion net of tax). Refer to note U, “Retirement-Related Benefits,” for additional information.
(3)Net change in retirement-related benefit plans includes the impact of pension settlement charges of $3.1 billion ($2.4 billion net of tax). Refer to note U, “Retirement-Related Benefits,” for additional information.