Shareholders' Equity (Tables)

3 Months Ended

Mar. 31, 2025

The following tables set forth the changes in AOCI by component for the three months ended March 31, 2025 and 2024 (in millions).


	Three Months Ended March 31, 2025
	Foreign Currency Translation Adjustment		Deferred Gain (Loss) on Hedging Activities		Pension and Other Postretirement Benefit Liabilities		Unrealized Gain (Loss) on Investments		Accumulated Other Comprehensive Income (Loss)
Balance at January 1, 2025	$	(2,999)	$	126	$	(100)	$	(15)	$	(2,988)
Other comprehensive income (loss) before reclassifications	25		12		(20)		(3)		14
Gain (loss) on net investment hedges	(158)		—		—		—		(158)
Amounts reclassified from AOCI	—		(17)		(2)		—		(19)
Tax effect	38		(1)		6		—		43
Net of tax amount	(95)		(6)		(16)		(3)		(120)
Balance at March 31, 2025	$	(3,094)	$	120	$	(116)	$	(18)	$	(3,108)


	Three months ended March 31, 2024
	Foreign Currency Translation Adjustment		Deferred Gain (Loss) on Hedging Activities		Pension and Other Postretirement Benefit Liabilities		Unrealized Gain (Loss) on Investments		Accumulated Other Comprehensive Income (Loss)
Balance at January 1, 2024	$	(2,539)	$	158	$	(108)	$	2	$	(2,487)
Other comprehensive (loss) before reclassifications	(77)		(50)		(2)		(7)		(136)
Gain on net investment hedges	84		—		—		—		84
Amounts reclassified from AOCI	—		(19)		(2)		—		(21)
Tax effect	(20)		10		1		(1)		(10)
Net of tax amount	(13)		(59)		(3)		(8)		(83)
Balance at March 31, 2024	$	(2,552)	$	99	$	(111)	$	(6)	$	(2,570)

The following table sets forth the reclassifications out of AOCI for the three months ended March 31, 2025 and 2024 (in millions).


	Amount reclassified from AOCI				Affected line item in the Consolidated Statements of Earnings
	Three Months Ended March 31,
Details about AOCI components	2025		2024





Deferred (Gain) Loss on Hedging Activities

	$	(17)	$	(19)		Cost of products sold


	(17)		(19)			Earnings before income tax
	4		4			Income tax expense
	$	(13)	$	(15)		Net earnings