Accumulated Other Comprehensive Loss

12 Months Ended

Dec. 31, 2022

Accumulated Other Comprehensive Loss (AOCL)


($ in millions)	Foreign Currency Translation Adjustments(1)	Pension and Other Postretirement Benefit Adjustments, net of tax(2)	Unrealized Gain on Derivatives, net of tax	Accumulated Other Comprehensive Loss
January 1, 2020	($1,627)	($724)	$1	($2,350)
Current year deferrals to AOCL	(36)	(237)	—	(273)
Reclassifications from AOCL to net income	—	24	—	24
December 31, 2020	($1,663)	($937)	$1	($2,599)
Current year deferrals to AOCL	(325)	132	—	(193)
Reclassifications from AOCL to net income	—	42	—	42
December 31, 2021	($1,988)	($763)	$1	($2,750)
Current year deferrals to AOCL	(301)	175	—	(126)
Reclassifications from AOCL to net income	35	31	—	66
December 31, 2022	($2,254)	($557)	$1	($2,810)

(1)The tax cost/(benefit) related to unrealized foreign currency translation adjustments on net investment hedges as of December 31, 2022, 2021 and 2020 was $73 million, $55 million and $(6) million, respectively.

(2)The tax cost/(benefit) related to the adjustment for pension and other postretirement benefits as of December 31, 2022, 2021 and 2020 was $83 million, $48 million and $(70) million, respectively. Reclassifications from AOCL are included in the computation of net periodic benefit costs (see Note 14, “Employee Benefit Plans").