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Other Comprehensive Income (Loss) (Tables) | 9 Months Ended
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Sep. 30, 2022
Equity [Abstract] |
Changes in AOCI by Component | Changes in each component of other comprehensive income (loss) are as follows:
| Three Months Ended September 30,
($ in millions) | Derivatives |  | Employee Benefit Plans |  | Foreign Currency Translation Adjustment |  | Accumulated Other Comprehensive Loss
Balance July 1, 2021, net of taxes | $ | (26) |  |  | $ | (3,028) |  |  | $ | (1,574) |  |  | $ | (4,628) |
Other comprehensive income (loss) before reclassification adjustments, pretax | 72 |  |  | (24) |  |  | (96) |  |  | (48) |
Tax | (16) |  |  | 16 |  |  | 12 |  |  | 12 |
Other comprehensive income (loss) before reclassification adjustments, net of taxes | 56 |  |  | (8) |  |  | (84) |  |  | (36) |
Reclassification adjustments, pretax | 36 |  | (1) | 68 |  | (2) | — |  |  | 104 |
Tax | (8) |  |  | (22) |  |  | — |  |  | (30) |
Reclassification adjustments, net of taxes | 28 |  |  | 46 |  |  | — |  |  | 74 |
Other comprehensive income (loss), net of taxes | 84 |  |  | 38 |  |  | (84) |  |  | 38 |
Balance September 30, 2021, net of taxes | $ | 58 |  |  | $ | (2,990) |  |  | $ | (1,658) |  |  | $ | (4,590) |
Balance July 1, 2022, net of taxes | $ | 390 |  |  | $ | (2,465) |  |  | $ | (2,252) |  |  | $ | (4,327) |
Other comprehensive income (loss) before reclassification adjustments, pretax | 682 |  |  | (294) |  |  | (618) |  |  | (230) |
Tax | (143) |  |  | 62 |  |  | 50 |  |  | (31) |
Other comprehensive income (loss) before reclassification adjustments, net of taxes | 539 |  |  | (232) |  |  | (568) |  |  | (261) |
Reclassification adjustments, pretax | (254) |  | (1) | 77 |  | (2) | — |  |  | (177) |
Tax | 53 |  |  | (31) |  |  | — |  |  | 22 |
Reclassification adjustments, net of taxes | (201) |  |  | 46 |  |  | — |  |  | (155) |
Other comprehensive income (loss), net of taxes | 338 |  |  | (186) |  |  | (568) |  |  | (416) |
Balance September 30, 2022, net of taxes | $ | 728 |  |  | $ | (2,651) |  |  | $ | (2,820) |  |  | $ | (4,743) |
| Nine Months Ended September 30,
($ in millions) | Derivatives |  | Employee Benefit Plans |  | Foreign Currency Translation Adjustment |  | Accumulated Other Comprehensive Loss
Balance January 1, 2021, net of taxes | $ | (266) |  |  | $ | (4,540) |  |  | $ | (1,828) |  |  | $ | (6,634) |
Other comprehensive income (loss) before reclassification adjustments, pretax | 193 |  |  | 1,739 |  |  | (167) |  |  | 1,765 |
Tax | (41) |  |  | (385) |  |  | (84) |  |  | (510) |
Other comprehensive income (loss) before reclassification adjustments, net of taxes | 152 |  |  | 1,354 |  |  | (251) |  |  | 1,255 |
Reclassification adjustments, pretax | 218 |  | (1) | 210 |  | (2) | — |  |  | 428 |
Tax | (46) |  |  | (42) |  |  | — |  |  | (88) |
Reclassification adjustments, net of taxes | 172 |  |  | 168 |  |  | — |  |  | 340 |
Other comprehensive income (loss), net of taxes | 324 |  |  | 1,522 |  |  | (251) |  |  | 1,595 |
Spin-off of Organon (see Note 2) | — |  |  | 28 |  |  | 421 |  |  | 449 |
Balance September 30, 2021, net of taxes | $ | 58 |  |  | $ | (2,990) |  |  | $ | (1,658) |  |  | $ | (4,590) |
Balance January 1, 2022, net of taxes | $ | 144 |  |  | $ | (2,743) |  |  | $ | (1,830) |  |  | $ | (4,429) |
Other comprehensive income (loss) before reclassification adjustments, pretax | 1,233 |  |  | (125) |  |  | (1,001) |  |  | 107 |
Tax | (259) |  |  | 25 |  |  | 11 |  |  | (223) |
Other comprehensive income (loss) before reclassification adjustments, net of taxes | 974 |  |  | (100) |  |  | (990) |  |  | (116) |
Reclassification adjustments, pretax | (493) |  | (1) | 266 |  | (2) | — |  |  | (227) |
Tax | 103 |  |  | (74) |  |  | — |  |  | 29 |
Reclassification adjustments, net of taxes | (390) |  |  | 192 |  |  | — |  |  | (198) |
Other comprehensive income (loss), net of taxes | 584 |  |  | 92 |  |  | (990) |  |  | (314) |
Balance September 30, 2022, net of taxes | $ | 728 |  |  | $ | (2,651) |  |  | $ | (2,820) |  |  | $ | (4,743) |
(1) Primarily relates to foreign currency cash flow hedges that were reclassified from AOCL to Sales. (2) 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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