Other Comprehensive Income (Loss) (Tables)

12 Months Ended

Dec. 31, 2021

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


	Derivatives			Investments			Employee Benefit Plans			Foreign Currency Translation Adjustment		Accumulated Other Comprehensive Income (Loss)
Balance January 1, 2019, net of taxes	$	166		$	(78)		$	(3,556)		$	(2,077)	$	(5,545)
Other comprehensive income (loss) before reclassification adjustments, pretax	86			140			(948)			112		(610)
Tax	(15)			—			192			(16)		161
Other comprehensive income (loss) before reclassification adjustments, net of taxes	71			140			(756)			96		(449)
Reclassification adjustments, pretax	(261)		(1)	(44)		(2)	66		(3)	—		(239)
Tax	55			—			(15)			—		40
Reclassification adjustments, net of taxes	(206)			(44)			51			—		(199)
Other comprehensive income (loss), net of taxes	(135)			96			(705)			96		(648)
Balance at December 31, 2019, net of taxes	31			18			(4,261)			(1,981)		(6,193)
Other comprehensive income (loss) before reclassification adjustments, pretax	(383)			3			(599)			64		(915)
Tax	84			—			111			89		284
Other comprehensive income (loss) before reclassification adjustments, net of taxes	(299)			3			(488)			153		(631)
Reclassification adjustments, pretax	2		(1)	(21)		(2)	272		(3)	—		253
Tax	—			—			(63)			—		(63)
Reclassification adjustments, net of taxes	2			(21)			209			—		190
Other comprehensive income (loss), net of taxes	(297)			(18)			(279)			153		(441)
Balance at December 31, 2020, net of taxes	(266)			—			(4,540)		(4)	(1,828)		(6,634)
Other comprehensive income (loss) before reclassification adjustments, pretax	333			—			1,922			(304)		1,951
Tax	(75)			—			(374)			(119)		(568)
Other comprehensive income (loss) before reclassification adjustments, net of taxes	258			—			1,548			(423)		1,383
Reclassification adjustments, pretax	192		(1)	—			281		(3)	—		473
Tax	(40)			—			(60)			—		(100)
Reclassification adjustments, net of taxes	152			—			221			—		373
Other comprehensive income (loss), net of taxes	410			—			1,769			(423)		1,756
Spin-off of Organon (see Note 3)	—			—			28			421		449
Balance at December 31, 2021, net of taxes	$	144		$	—		$	(2,743)	(4)	$	(1,830)	$	(4,429)

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

(2) Represents net realized gains on the sales of available-for-sale debt securities that were reclassified from AOCL 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 14).

(4) Includes pension plan net loss of $3.6 billion and $5.4 billion at December 31, 2021 and 2020, respectively, and other postretirement benefit plan net gain of $473 million and $391 million at December 31, 2021 and 2020, respectively, as well as pension plan prior service credit of $190 million and $255 million at December 31, 2021 and 2020, respectively, and other postretirement benefit plan prior service credit of $181 million and $244 million at December 31, 2021 and 2020, respectively.