Years Ended December 31,

($ in millions)

2023

2022

2021

Gains (losses) on cash flow hedges:

Commodity contracts recorded in net sales

$

43

$

59

$

(121)

Commodity contracts recorded in cost of sales

(70)

119

153

Currency exchange contracts recorded in selling, general and administrative

5

81

90

Interest rate contracts recorded in interest expense

8

2

(2)

Total before tax effect

(14)

261

120

Tax benefit (expense) on amounts reclassified into earnings

3

(56)

(20)

Recognized gain (loss), net of tax

$

(11)

$

205

$

100

Amortization of pension and other postretirement benefits: (a)

Actuarial gains (losses)

$

4

$

(28)

$

(47)

Prior service income (expense)

(2)

Effect of settlement losses and other one-time charges

—

(10)

(135)

Total before tax effect

2

(40)

(184)

Tax benefit (expense) on amounts reclassified into earnings

—

10

45

Recognized gain (loss), net of tax

$

2

$

(30)

$

(139)

Currency translation recorded in business consolidation and other activities from the sale of the Russian aluminum beverage packaging business

$

—

$

90

$

—