Accumulated Other Comprehensive Loss

12 Months Ended

Dec. 31, 2024

Accumulated Other Comprehensive Loss

Accumulated Other Comprehensive Loss

16. Accumulated Other Comprehensive Income (Loss)

The components of comprehensive income (loss) are: (a) net earnings; (b) change in fair value of certain derivative instruments; (c) pension and other postretirement benefit adjustments; and (d) foreign currency translation adjustments. The net effect of exchange rate fluctuations generally reflects changes in the relative strength of the U.S. dollar against major foreign currencies between the beginning and end of the year.

The following table lists the beginning balance, annual activity and ending balance of each component of accumulated other comprehensive income (loss):

									Total Accumulated
	Net Effect of		Change in Certain						Other
	Exchange Rate		Derivative			Employee			Comprehensive
	Fluctuations		Instruments			Benefit Plans			Loss
Balance on January 1, 2022	$	(1,290)	$	(21)		$	(661)		$	(1,972)
Change before reclassifications		10		60			(24)			46
Amounts reclassified from accumulated other comprehensive income (loss)				(27)	(a)		69	(b)		42
Translation effect				(5)			21			16
Tax effect				(3)			10			7
Other comprehensive income (loss) attributable to the Company		10		25			76			111
Balance on December 31, 2022		(1,280)		4			(585)			(1,861)
Change before reclassifications		331		(68)			(26)			237
Amounts reclassified from accumulated other comprehensive income				20	(a)		33	(b)		53
Translation effect				(4)			(14)			(18)
Tax effect				5			4			9
Other comprehensive income (loss) attributable to the Company		331		(47)			(3)			281
Balance on December 31, 2023		(949)		(43)			(588)			(1,580)
Change before reclassifications		(486)		28			40			(418)
Amounts reclassified from accumulated other comprehensive income (loss)				(4)	(a)		26	(b)		22
Translation effect				2			4			6
Tax effect				3			(8)			(5)
Other comprehensive income (loss) attributable to the Company		(486)		29			62			(395)
Balance on December 31, 2024	$	(1,435)	$	(14)		$	(526)		$	(1,975)

(a) Amount is recorded to other income (expense), net and interest expense, net in the Consolidated Results of Operations (see Note 9 for additional information).

(b) Amount is included in the computation of net periodic pension cost and net postretirement benefit cost (see Note 11 for additional information).