Other Comprehensive (Loss) Income (Tables)

9 Months Ended

Sep. 30, 2025

Schedule of Changes, Net of Tax, in Each Component of AOCI

The changes, net of tax, in the balances of each component of AOCI for the three and nine months ended September 30, 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 July 1, 2025	$	(3,632)	$	(1,612)	$	(5,244)
Other comprehensive (loss) income before reclassifications	58		(263)		(205)
Amounts reclassified from accumulated other comprehensive income	8		—		8
Net current period other comprehensive (loss) income	66		(263)		(197)
Balance at September 30, 2025 (a)	$	(3,566)	$	(1,875)	$	(5,441)


(In millions)	Pension/Post-Retirement Plans Gains (Losses)		Foreign Currency Translation Adjustments		Total
Balance at July 1, 2024	$	(3,050)	$	(2,477)	$	(5,527)
Other comprehensive income (loss) before reclassifications	(135)		668		533
Amounts reclassified from accumulated other comprehensive income	4		—		4
Net current period other comprehensive income (loss)	(131)		668		537
Balance at September 30, 2024 (a)	$	(3,181)	$	(1,809)	$	(4,990)

(a)At September 30, 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.


(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	(182)		957		775
Amounts reclassified from accumulated other comprehensive income	24		—		24
Net current period other comprehensive income (loss)	(158)		957		799
Balance at September 30, 2025 (a)	$	(3,566)	$	(1,875)	$	(5,441)


(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	(93)		385		292
Amounts reclassified from accumulated other comprehensive income	13		—		13
Net current period other comprehensive income (loss)	(80)		385		305
Balance at September 30, 2024 (a)	$	(3,181)	$	(1,809)	$	(4,990)

(a)At September 30, 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 Changes, Net of Tax, Components of Other Comprehensive (Loss) Income

The components of other comprehensive (loss) income for the three and nine months ended September 30, 2025 and 2024 are as follows:


Three Months Ended September 30,	2025						2024
(In millions)	Pre-Tax		Tax (Credit)		Net of Tax		Pre-Tax		Tax (Credit)		Net of Tax
Foreign currency translation adjustments	$	(263)	$	—	$	(263)	$	661	$	(7)	$	668

Pension/post-retirement plans:
Amortization of (gains) losses included in net benefit (credit) cost:
Prior service credits (a)	1		—		1		—		—		—
Net actuarial losses (a)	10		3		7		6		2		4
Subtotal	11		3		8		6		2		4
Foreign currency translation adjustments	79		20		59		(180)		(44)		(136)

Effect of remeasurement	(1)		—		(1)		—		—		—

Effect of settlement	—		—		—		1		—		1


Pension/post-retirement plans gains (losses)	89		23		66		(173)		(42)		(131)
Other comprehensive (loss) income	$	(174)	$	23	$	(197)	$	488	$	(49)	$	537

(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.


Nine Months Ended September 30,	2025						2024
(In millions)	Pre-Tax		Tax (Credit)		Net of Tax		Pre-Tax		Tax (Credit)		Net of Tax
Foreign currency translation adjustments	$	926	$	(31)	$	957	$	389	$	4	$	385

Pension/post-retirement plans:
Amortization of (gains) losses included in net benefit (credit) cost:
Prior service credits (a)	1		—		1		(1)		—		(1)
Net actuarial losses (a)	31		8		23		19		5		14
Subtotal	32		8		24		18		5		13
Foreign currency translation adjustments	(245)		(58)		(187)		(124)		(30)		(94)

Effect of remeasurement	(4)		(1)		(3)		—		—		—

Effect of settlement	10		2		8		1		—		1


Pension/post-retirement plans (losses) gains	(207)		(49)		(158)		(105)		(25)		(80)
Other comprehensive income (loss)	$	719	$	(80)	$	799	$	284	$	(21)	$	305

(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.