Equity and Comprehensive Income (Loss) (Tables)

12 Months Ended

Dec. 31, 2024

The changes in the balances of Accumulated other comprehensive income (loss) by component are as follows:


(dollars in millions)	Foreign currency translation adjustments		Unrealized gain (loss) on cash flow hedges		Unrealized gain (loss) on fair value hedges		Unrealized gain (loss) on marketable securities		Defined benefit pension and postretirement plans		Total
Balance at January 1, 2022	$	(545)	$	(1,472)	$	—	$	16	$	1,074	$	(927)


Excluded components recognized in other comprehensive income	—		—		(371)		—		—		(371)
Other comprehensive loss	(153)		(174)		—		(25)		(317)		(669)
Amounts reclassified to net income	—		496		(60)		—		(334)		102
Net other comprehensive income (loss)	(153)		322		(431)		(25)		(651)		(938)
Balance at December 31, 2022	(698)		(1,150)		(431)		(9)		423		(1,865)
Excluded components recognized in other comprehensive income	—		—		617		—		—		617
Other comprehensive income	62		3		—		5		—		70
Amounts reclassified to net income	—		85		(81)		2		(208)		(202)
Net other comprehensive income (loss)	62		88		536		7		(208)		485
Balance at December 31, 2023	(636)		(1,062)		105		(2)		215		(1,380)
Excluded components recognized in other comprehensive income	—		—		547		—		—		547
Other comprehensive loss	(97)		(16)		—		(3)		—		(116)
Amounts reclassified to net income	—		97		(63)		—		(8)		26
Net other comprehensive income (loss)	(97)		81		484		(3)		(8)		457
Balance at December 31, 2024	$	(733)	$	(981)	$	589	$	(5)	$	207	$	(923)