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Other Comprehensive Income (Loss)

6 Months Ended

Jun. 30, 2021

Equity [Abstract]

Other Comprehensive Income (Loss)

Other Comprehensive Income (Loss)

Changes in each component of other comprehensive income (loss) are as follows:

			Three Months Ended June 30,
($ in millions)			Derivatives						Investments						Employee Benefit Plans						Foreign Currency Translation Adjustment						Accumulated Other Comprehensive Income (Loss)
Balance April 1, 2020, net of taxes			$	135					$	—					$	(4,201)					$	(2,325)					$	(6,391)
Other comprehensive income (loss) before reclassification adjustments, pretax			(110)						—						(21)						63						(68)
Tax			23						—						6						16						45
Other comprehensive income (loss) before reclassification adjustments, net of taxes			(87)						—						(15)						79						(23)
Reclassification adjustments, pretax			(42)			(1)			—						69			(3)			—						27
Tax			9						—						(15)						—						(6)
Reclassification adjustments, net of taxes			(33)						—						54						—						21
Other comprehensive income (loss), net of taxes			(120)						—						39						79						(2)
Balance June 30, 2020, net of taxes			$	15					$	—					$	(4,162)					$	(2,246)					$	(6,393)
Balance April 1, 2021, net of taxes			$	(36)					$	—					$	(4,459)					$	(2,127)					$	(6,622)
Other comprehensive income (loss) before reclassification adjustments, pretax			(59)						—						1,767						140						1,848
Tax			13						—						(400)						(8)						(395)
Other comprehensive income (loss) before reclassification adjustments, net of taxes			(46)						—						1,367						132						1,453
Reclassification adjustments, pretax			71			(1)			—						55			(3)			—						126
Tax			(15)						—						(19)						—						(34)
Reclassification adjustments, net of taxes			56						—						36						—						92
Other comprehensive income (loss), net of taxes			10						—						1,403						132						1,545
Spin-off of Organon (see Note 2)			—						—						28						421						449
Balance June 30, 2021, net of taxes			$	(26)					$	—					$	(3,028)					$	(1,574)					$	(4,628)

			Six Months Ended June 30,
($ in millions)			Derivatives						Investments						Employee Benefit Plans						Foreign Currency Translation Adjustment						Accumulated Other Comprehensive Income (Loss)
Balance January 1, 2020, net of taxes			$	31					$	18					$	(4,261)					$	(1,981)					$	(6,193)
Other comprehensive income (loss) before reclassification adjustments, pretax			68						3						(21)						(270)						(220)
Tax			(14)						—						11						5						2
Other comprehensive income (loss) before reclassification adjustments, net of taxes			54						3						(10)						(265)						(218)
Reclassification adjustments, pretax			(89)			(1)			(21)			(2)			138			(3)			—						28
Tax			19						—						(29)						—						(10)
Reclassification adjustments, net of taxes			(70)						(21)						109						—						18
Other comprehensive income (loss), net of taxes			(16)						(18)						99						(265)						(200)
Balance June 30, 2020, net of taxes			$	15					$	—					$	(4,162)					$	(2,246)					$	(6,393)
Balance January 1, 2021, net of taxes			$	(266)					$	—					$	(4,540)					$	(1,828)					$	(6,634)
Other comprehensive income (loss) before reclassification adjustments, pretax			121						—						1,763						(71)						1,813
Tax			(25)						—						(401)						(96)						(522)
Other comprehensive income (loss) before reclassification adjustments, net of taxes			96						—						1,362						(167)						1,291
Reclassification adjustments, pretax			182			(1)			—						142			(3)			—						324
Tax			(38)						—						(20)						—						(58)
Reclassification adjustments, net of taxes			144						—						122						—						266
Other comprehensive income (loss), net of taxes			240						—						1,484						(167)						1,557
Spin-off of Organon (see Note 2)			—						—						28						421						449
Balance June 30, 2021, net of taxes			$	(26)					$	—					$	(3,028)					$	(1,574)					$	(4,628)

(1) Primarily relates to foreign currency cash flow hedges that were reclassified from AOCI to Sales.

(2) Represents net realized (gains) losses on the sales of available-for-sale debt securities that were reclassified from AOCI to Other (income) expense, net.

(3) Includes net amortization of prior service cost and actuarial gains and losses included in net periodic benefit cost (see Note 11).

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- Definition

The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-URI http://asc.fasb.org/topic&trid=2134417

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(21))
-URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(23))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

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- References

No definition available.

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