Accumulated other comprehensive loss (Tables)

6 Months Ended

Jun. 30, 2024

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

The changes in the balances for each component of Accumulated other comprehensive loss, net of tax, were as follows:

in $ millions	Currency Translation	Cash Flow Hedges	Pension and Other Postretirement Plans	Total
Balance at March 31, 2024	(580)	(84)	(133)	(797)
Other comprehensive (loss) income before reclassifications	(44)	27	-	(17)
Amounts reclassified from Accumulated other comprehensive loss	(5)	(8)	2	(11)
Net current-period other comprehensive (loss) income	(49)	19	2	(28)
Other comprehensive loss attributable to noncontrolling interests	12	-	-	12
Balance at June 30, 2024	(617)	(65)	(131)	(813)
Balance at December 31, 2023	(439)	(47)	(130)	(616)
Other comprehensive loss before reclassifications	(158)	(37)	-	(195)
Amounts reclassified from Accumulated other comprehensive loss	(39)	19	(1)	(21)
Net current-period other comprehensive (loss)	(197)	(18)	(1)	(216)
Other comprehensive loss attributable to noncontrolling interests	19	-	-	19
Balance at June 30, 2024	(617)	(65)	(131)	(813)
Balance at March 31, 2023	(660)	12	(25)	(673)
Other comprehensive income (loss) before reclassifications	49	(10)	-	39
Amounts reclassified from Accumulated other comprehensive loss	-	3	-	3
Net current-period other comprehensive income (loss)	49	(7)	-	42
Other comprehensive loss attributable to noncontrolling interests	6	-	-	6
Balance at June 30, 2023	(605)	5	(25)	(625)
Balance at December 31, 2022	(746)	(19)	(22)	(787)
Other comprehensive income before reclassifications	147	11	-	158
Amounts reclassified from Accumulated other comprehensive loss	-	13	(3)	10
Net current-period other comprehensive income (loss)	147	24	(3)	168
Other comprehensive (income) attributable to noncontrolling interests	(6)	-	-	(6)
Balance at June 30, 2023	(605)	5	(25)	(625)

Reclassification out of Accumulated Other Comprehensive Income

The amounts reclassified from Accumulated other comprehensive loss to income were as follows:

	Three months ended		Six months ended
	June 30		June 30
in $ millions	2024	2023	2024	2023
Cash flow hedges
Cost of product revenues	(9)	3	22	17
Income tax expense (benefit)	1	-	(3)	(4)
Total	(8)	3	19	13
Pension and other postretirement plans
Other nonoperating income, net	2	-	(2)	(3)
Income tax expense	-	-	1	-
Total	2	-	(1)	(3)
Reclassifications from Accumulated other comprehensive loss to income	(6)	3	18	10