Other Comprehensive Income (Note)

12 Months Ended

Dec. 31, 2022

Other Comprehensive Income [Note Text Block]

The following table presents changes in Accumulated Other Comprehensive Income (Loss) (AOCI), net of tax, reported in the consolidated financial statements for the years ended December 31:


In millions	2022		2021		2020
Defined Benefit Pension and Postretirement Adjustments
Balance at beginning of period	$	(962)	$	(1,880)	$	(2,277)
Other comprehensive income (loss) before reclassifications	(319)		713		227

Reclassification related to Sylvamo Corporation spin-off	—		80		—
Amounts reclassified from accumulated other comprehensive income (loss)	86		125		170
Balance at end of period	(1,195)		(962)		(1,880)
Change in Cumulative Foreign Currency Translation Adjustments
Balance at beginning of period	(694)		(2,457)		(2,465)
Other comprehensive income (loss) before reclassifications	(38)		(115)		(319)
Reclassification related to Sylvamo Corporation spin-off	—		1,692		—
Amounts reclassified from accumulated other comprehensive income (loss)	10		184		327
Other Comprehensive Income (Loss) Attributable to Noncontrolling Interest	—		2		—
Balance at end of period	(722)		(694)		(2,457)
Net Gains and Losses on Cash Flow Hedging Derivatives
Balance at beginning of period	(10)		(5)		3
Other comprehensive income (loss) before reclassifications	—		3		(34)

Reclassification related to Sylvamo Corporation spin-off	—		1		—
Amounts reclassified from accumulated other comprehensive income (loss)	2		(9)		26
Balance at end of period	(8)		(10)		(5)
Total Accumulated Other Comprehensive Income (Loss) at End of Period	$	(1,925)	$	(1,666)	$	(4,342)

Reclassifications out of AOCI for the three years ended December 31 were as follows:


	Amount Reclassified from Accumulated Other Comprehensive Income (Loss)							Location of Amount Reclassified from AOCI
	2022		2021		2020
In millions
Defined benefit pension and postretirement items:
Prior-service costs	$	(23)	$	(20)	$	(19)	(a)	Non-operating pension expense
Actuarial gains/(losses)	(91)		(146)		(207)		(a)	Non-operating pension expense
Total pre-tax amount	(114)		(166)		(226)
Tax (expense)/benefit	28		41		56
Net of tax	(86)		(125)		(170)
Reclassification related to Sylvamo Corporation spin-off	—		(80)		—			Paid-in Capital
Total, net of tax	(86)		(205)		(170)
Change in cumulative foreign currency translation adjustments:
Business divestiture	(10)		(184)		(327)			Net (gains) losses on sales of equity method investments, Discontinued Operations, net of taxes and Net (gains) losses on sales and impairment of businesses
Tax (expense)/benefit	—		—		—
Net of tax	(10)		(184)		(327)
Reclassification related to Sylvamo Corporation spin-off	—		(1,692)		—			Paid-in Capital
Total, net of tax	(10)		(1,876)		(327)
Net gains and losses on cash flow hedging derivatives:
Cash flow hedges	(3)		11		(39)		(b)	Cost of products sold, Discontinued operations, net of taxes, and Interest expense, net
Total pre-tax amount	(3)		11		(39)
Tax (expense)/benefit	1		(2)		13
Net of tax	(2)		9		(26)
Reclassification related to Sylvamo Corporation spin-off	—		(1)		—			Paid-in Capital
Total, net of tax	(2)		8		(26)
Total reclassifications for the period, net of tax	$	(98)	$	(2,073)	$	(523)

(a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension cost (see Note 19 for additional details).

(b) This accumulated other comprehensive income (loss) component is included in our derivatives and hedging activities (see Note 17 for additional details).