Changes in Accumulated Other Comprehensive Losses

3 Months Ended

Mar. 31, 2021

Changes in Accumulated Other Comprehensive Losses

The change in Accumulated Other Comprehensive Losses (AOCL) presented on the Consolidated Balance Sheet and the impact of significant amounts reclassified from AOCL on information presented in the Consolidated Statement of Income for the three months ended March 31, 2021 and 2020 are reflected in the table below.

Changes in Accumulated Other Comprehensive Income (Loss) by Component(1)

(Millions of dollars)



	Currency Translation Adjustment		Unrealized Holding Gains (Losses) on Securities		Defined Benefit Plans		Total
Balance at December 31, 2019	$	(142)	$	(8)	$	(4,840)	$	(4,990)
Components of Other Comprehensive Income (Loss):
Before Reclassifications	(19)		(3)		2		(20)
Reclassifications	—		—		126		126
Net Other Comprehensive Income (Loss)	(19)		(3)		128		106
Balance at March 31, 2020	$	(161)	$	(11)	$	(4,712)	$	(4,884)

Balance at December 31, 2020	$	(107)	$	(10)	$	(5,495)	$	(5,612)
Components of Other Comprehensive Income (Loss):
Before Reclassifications	(19)		(3)		715		693
Reclassifications(2)	—		—		333		333
Net Other Comprehensive Income (Loss)	(19)		(3)		1,048		1,026
Balance at March 31, 2021	$	(126)	$	(13)	$	(4,447)	$	(4,586)

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(1)All amounts are net of tax.

(2)Refer to Note 7, Employee Benefits for reclassified components, including amortization of actuarial gains or losses, amortization of prior service costs and settlement losses, totaling $431 million that are included in employee benefit costs for the three months ended March 31, 2021. Related income taxes for the same period, totaling $98 million, are reflected in “Income Tax Expense” on the Consolidated Statement of Income. All other reclassified amounts were insignificant.