Other Comprehensive (Loss) Income (Tables)

3 Months Ended

Mar. 31, 2025

Schedule of Accumulated Other Comprehensive (Loss) Income

The changes, net of tax, in the balances of each component of AOCI for the three months ended March 31, 2025 and 2024, including amounts reclassified out of AOCI, are as follows:


(In millions)	Pension/Post-Retirement Plans Gains (Losses)		Foreign Currency Translation Adjustments		Total
Balance at January 1, 2025	$	(3,408)	$	(2,832)	$	(6,240)
Other comprehensive (loss) income before reclassifications	(74)		411		337
Amounts reclassified from accumulated other comprehensive income	7		—		7
Net current period other comprehensive (loss) income	(67)		411		344
Balance at March 31, 2025 (a)	$	(3,475)	$	(2,421)	$	(5,896)


(In millions)	Pension/Post-Retirement Plans Gains (Losses)		Foreign Currency Translation Adjustments		Total
Balance at January 1, 2024	$	(3,101)	$	(2,194)	$	(5,295)
Other comprehensive income (loss) before reclassifications	33		(251)		(218)
Amounts reclassified from accumulated other comprehensive income	4		—		4
Net current period other comprehensive income (loss)	37		(251)		(214)
Balance at March 31, 2024 (a)	$	(3,064)	$	(2,445)	$	(5,509)

(a)At March 31, 2025 and 2024, balances are net of deferred tax assets in pension and post-retirement plans gains (losses) of $1.6 billion and $1.5 billion, respectively.

Schedule of Components of Other Comprehensive (Loss) Income

The components of other comprehensive (loss) income for the three months ended March 31, 2025 and 2024 are as follows:


Three Months Ended March 31,	2025						2024
(In millions)	Pre-Tax		Tax (Credit)		Net of Tax		Pre-Tax		Tax (Credit)		Net of Tax
Foreign currency translation adjustments	$	402	$	(9)	$	411	$	(244)	$	7	$	(251)

Pension/post-retirement plans:
Amortization of (gains) losses included in net benefit (credit) cost:

Net actuarial losses (a)	10		3		7		6		2		4
Subtotal	10		3		7		6		2		4
Foreign currency translation adjustments	(100)		(24)		(76)		44		11		33

Effect of remeasurement	(3)		(1)		(2)		—		—		—

Effect of settlement	5		1		4		—		—		—


Pension/post-retirement plans (losses) gains	(88)		(21)		(67)		50		13		37
Other comprehensive income (loss)	$	314	$	(30)	$	344	$	(194)	$	20	$	(214)

(a) Included in other net benefit credits in the consolidated statements of income. Income tax expense on net actuarial losses are included in income tax expense.