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Other Comprehensive Income (Loss) | 12 Months Ended
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Dec. 31, 2023
Equity [Abstract] |
Other Comprehensive Income (Loss) | Other Comprehensive Income (Loss) Changes in each component of other comprehensive income (loss) are as follows:
| 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 | 333 |  |  |  |  | 1,737 |  |  | (304) |  |  | 1,766 |
Tax | (75) |  |  |  |  | (332) |  |  | (119) |  |  | (526) |
Other comprehensive income (loss) before reclassification adjustments, net of taxes | 258 |  |  |  |  | 1,405 |  |  | (423) |  |  | 1,240 |
Reclassification adjustments, pretax | 192 |  | (1) |  |  | 466 |  | (2) | — |  |  | 658 |
Tax | (40) |  |  |  |  | (102) |  |  | — |  |  | (142) |
Reclassification adjustments, net of taxes | 152 |  |  |  |  | 364 |  |  | — |  |  | 516 |
Other comprehensive income (loss), net of taxes | 410 |  |  |  |  | 1,769 |  |  | (423) |  |  | 1,756 |
Spin-off of Organon (see Note 5) | — |  |  |  |  | 28 |  |  | 421 |  |  | 449 |
Balance at December 31, 2021, net of taxes | 144 |  |  |  |  | (2,743) |  |  | (1,830) |  |  | (4,429) |
Other comprehensive income (loss) before reclassification adjustments, pretax | 684 |  |  |  |  | 70 |  |  | (584) |  |  | 170 |
Tax | (143) |  |  |  |  | 12 |  |  | (19) |  |  | (150) |
Other comprehensive income (loss) before reclassification adjustments, net of taxes | 541 |  |  |  |  | 82 |  |  | (603) |  |  | 20 |
Reclassification adjustments, pretax | (775) |  | (1) |  |  | 329 |  | (2) | — |  |  | (446) |
Tax | 163 |  |  |  |  | (76) |  |  | — |  |  | 87 |
Reclassification adjustments, net of taxes | (612) |  |  |  |  | 253 |  |  | — |  |  | (359) |
Other comprehensive income (loss), net of taxes | (71) |  |  |  |  | 335 |  |  | (603) |  |  | (339) |
Balance at December 31, 2022, net of taxes | 73 |  |  |  |  | (2,408) |  | (3) | (2,433) |  |  | (4,768) |
Other comprehensive income (loss) before reclassification adjustments, pretax | 114 |  |  |  |  | (413) |  |  | 17 |  |  | (282) |
Tax | (24) |  |  |  |  | 86 |  |  | 63 |  |  | 125 |
Other comprehensive income (loss) before reclassification adjustments, net of taxes | 90 |  |  |  |  | (327) |  |  | 80 |  |  | (157) |
Reclassification adjustments, pretax | (237) |  | (1) |  |  | (64) |  | (2) | 9 |  |  | (292) |
Tax | 50 |  |  |  |  | 6 |  |  | — |  |  | 56 |
Reclassification adjustments, net of taxes | (187) |  |  |  |  | (58) |  |  | 9 |  |  | (236) |
Other comprehensive income (loss), net of taxes | (97) |  |  |  |  | (385) |  |  | 89 |  |  | (393) |
Balance at December 31, 2023, net of taxes | $ | (24) |  |  |  |  | $ | (2,793) |  | (3) | $ | (2,344) |  |  | $ | (5,161) |
(1) Primarily relates to foreign currency cash flow hedges that were reclassified from AOCL to Sales (see Note 7). (2) Includes net amortization of prior service cost, actuarial gains and losses, settlements and curtailments included in net periodic benefit cost (see Note 14). (3) Includes pension plan net loss of $3.5 billion and $3.1 billion at December 31, 2023 and 2022, respectively, and other postretirement benefit plan net gain of $500 million and $446 million at December 31, 2023 and 2022, respectively, as well as pension plan prior service credit of $141 million and $152 million at December 31, 2023 and 2022, respectively, and other postretirement benefit plan prior service credit of $95 million and $135 million at December 31, 2023 and 2022, respectively.

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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://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(19)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(21)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(23)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//220/tableOfContent + Details
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