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Accumulated Other Comprehensive Income (Loss)
 12 Months Ended
Dec. 31, 2024
Equity [Abstract]  
Accumulated Other Comprehensive Income (Loss)

20. Accumulated Other Comprehensive Income (Loss)

The following tables reflect the changes in accumulated other comprehensive income (loss) by component (in millions):

 

 

 

Gains and
(Losses) on

 

 

Foreign
Currency

 

 

Adjustment
to Early

 

 

 

 

 

 

Hedging
Derivatives

 

 

Gains
(Losses)

 

 

Retiree
Medical Plan

 

 

Total

 

December 31, 2023

 

$

(14

)

 

$

(159

)

 

$

11

 

 

$

(162

)

Other comprehensive income
   (loss) before reclassifications

 

 

(6

)

 

 

(61

)

 

 

—

 

 

 

(67

)

Amounts reclassified from
   accumulated other
   comprehensive income
   (loss) into earnings (1)

 

 

21

 

 

 

—

 

 

 

—

 

 

 

21

 

Net current-period other
   comprehensive income (loss)

 

 

15

 

 

 

(61

)

 

 

—

 

 

 

(46

)

December 31, 2024

 

$

1

 

 

$

(220

)

 

$

11

 

 

$

(208

)

 

(1)
Includes $21 and $(0) net-of-tax impact of accumulated other comprehensive income (loss) reclassifications into cost of products sold for net losses on commodity contracts and adjustment to early retiree medical plan, respectively. The tax impacts of these reclassifications were $7 and $(0), respectively.

 

 

 

Gains and
(Losses) on

 

 

Foreign
Currency

 

 

Adjustment
to Early

 

 

 

 

 

 

Hedging
Derivatives

 

 

Gains
(Losses)

 

 

Retiree
Medical Plan

 

 

Total

 

December 31, 2022

 

$

26

 

 

$

(180

)

 

$

17

 

 

$

(137

)

Other comprehensive income
   (loss) before reclassifications

 

 

(52

)

 

 

21

 

 

 

(5

)

 

 

(36

)

Amounts reclassified from
   accumulated other
   comprehensive income
   (loss) into earnings (2)

 

 

12

 

 

 

—

 

 

 

(1

)

 

 

11

 

Net current-period other
   comprehensive income (loss)

 

 

(40

)

 

 

21

 

 

 

(6

)

 

 

(25

)

December 31, 2023

 

$

(14

)

 

$

(159

)

 

$

11

 

 

$

(162

)

 

Includes $12 and $(1) net-of-tax impact of accumulated other comprehensive income (loss) reclassifications into cost of products sold for net losses on commodity contracts and adjustment to early retiree medical plan, respectively. The tax impacts of these reclassifications were $4 and $(0.30), respectively.