Comprehensive Income/(Loss) and Shareholders' Equity

12 Months Ended

Dec. 31, 2024

Stockholders' Equity Note [Abstract]

Comprehensive Income/(Loss) and Shareholders' Equity

Comprehensive Income/(Loss) and Shareholders' Equity

Comprehensive Income (Loss)

Changes in each component of accumulated other comprehensive items, net of tax are as follows:

(In millions)	Currency translation adjustment		Unrealized gains/(losses) on hedging instruments		Pension and other postretirement benefit liability adjustment		Total
Balance at December 31, 2023	$	(2,941)	$	(28)	$	(255)	$	(3,224)
Other comprehensive income/(loss) before reclassifications	525		—		(12)		513
Amounts reclassified from accumulated other comprehensive income/(loss)	7		3		4		14
Net other comprehensive income/(loss)	532		3		(8)		527
Balance at December 31, 2024	$	(2,409)	$	(25)	$	(263)	$	(2,697)

Shareholders’ Equity

At December 31, 2024, the company had reserved 37 million unissued shares of its common stock for possible issuance under stock-based compensation plans.

Early in the first quarter of 2025, the company repurchased $2.00 billion of the company's common stock (3.6 million shares).