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Other Comprehensive Income (Loss) (Tables) | 6 Months Ended
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Jun. 30, 2024
Equity [Abstract] |
Changes in AOCI by Component | Changes in each component of other comprehensive income (loss) are as follows:
| Three Months Ended June 30,
($ in millions) | Derivatives |  | Employee Benefit Plans |  | Foreign Currency Translation Adjustment |  | Accumulated Other Comprehensive Loss
Balance April 1, 2023, net of taxes | $ | (60) |  |  | $ | (2,458) |  |  | $ | (2,365) |  |  | $ | (4,883) |
Other comprehensive income (loss) before reclassification adjustments, pretax | 194 |  |  | (6) |  |  | (115) |  |  | 73 |
Tax | (41) |  |  | 1 |  |  | (22) |  |  | (62) |
Other comprehensive income (loss) before reclassification adjustments, net of taxes | 153 |  |  | (5) |  |  | (137) |  |  | 11 |
Reclassification adjustments, pretax | (11) |  | (1) | (23) |  | (2) | — |  |  | (34) |
Tax | 3 |  |  | 3 |  |  | — |  |  | 6 |
Reclassification adjustments, net of taxes | (8) |  |  | (20) |  |  | — |  |  | (28) |
Other comprehensive income (loss), net of taxes | 145 |  |  | (25) |  |  | (137) |  |  | (17) |
Balance June 30, 2023, net of taxes | $ | 85 |  |  | $ | (2,483) |  |  | $ | (2,502) |  |  | $ | (4,900) |
Balance April 1, 2024, net of taxes | $ | 106 |  |  | $ | (2,798) |  |  | $ | (2,582) |  |  | $ | (5,274) |
Other comprehensive income (loss) before reclassification adjustments, pretax | 139 |  |  | 1 |  |  | (157) |  |  | (17) |
Tax | (29) |  |  | 2 |  |  | (7) |  |  | (34) |
Other comprehensive income (loss) before reclassification adjustments, net of taxes | 110 |  |  | 3 |  |  | (164) |  |  | (51) |
Reclassification adjustments, pretax | (55) |  | (1) | (15) |  | (2) | 20 |  |  | (50) |
Tax | 12 |  |  | 2 |  |  | — |  |  | 14 |
Reclassification adjustments, net of taxes | (43) |  |  | (13) |  |  | 20 |  |  | (36) |
Other comprehensive income (loss), net of taxes | 67 |  |  | (10) |  |  | (144) |  |  | (87) |
Balance June 30, 2024, net of taxes | $ | 173 |  |  | $ | (2,808) |  |  | $ | (2,726) |  |  | $ | (5,361) |
| Six Months Ended June 30,
($ in millions) | Derivatives |  | Employee Benefit Plans |  | Foreign Currency Translation Adjustment |  | Accumulated Other Comprehensive Loss
Balance January 1, 2023, net of taxes | $ | 73 |  |  | $ | (2,408) |  |  | $ | (2,433) |  |  | $ | (4,768) |
Other comprehensive income (loss) before reclassification adjustments, pretax | 128 |  |  | (53) |  |  | (36) |  |  | 39 |
Tax | (27) |  |  | 3 |  |  | (42) |  |  | (66) |
Other comprehensive income (loss) before reclassification adjustments, net of taxes | 101 |  |  | (50) |  |  | (78) |  |  | (27) |
Reclassification adjustments, pretax | (113) |  | (1) | (30) |  | (2) | 9 |  |  | (134) |
Tax | 24 |  |  | 5 |  |  | — |  |  | 29 |
Reclassification adjustments, net of taxes | (89) |  |  | (25) |  |  | 9 |  |  | (105) |
Other comprehensive income (loss), net of taxes | 12 |  |  | (75) |  |  | (69) |  |  | (132) |
Balance June 30, 2023, net of taxes | $ | 85 |  |  | $ | (2,483) |  |  | $ | (2,502) |  |  | $ | (4,900) |
Balance January 1, 2024, net of taxes | $ | (24) |  |  | $ | (2,793) |  |  | $ | (2,344) |  |  | $ | (5,161) |
Other comprehensive income (loss) before reclassification adjustments, pretax | 348 |  |  | 6 |  |  | (382) |  |  | (28) |
Tax | (73) |  |  | (2) |  |  | (20) |  |  | (95) |
Other comprehensive income (loss) before reclassification adjustments, net of taxes | 275 |  |  | 4 |  |  | (402) |  |  | (123) |
Reclassification adjustments, pretax | (99) |  | (1) | (30) |  | (2) | 20 |  |  | (109) |
Tax | 21 |  |  | 11 |  |  | — |  |  | 32 |
Reclassification adjustments, net of taxes | (78) |  |  | (19) |  |  | 20 |  |  | (77) |
Other comprehensive income (loss), net of taxes | 197 |  |  | (15) |  |  | (382) |  |  | (200) |
Balance June 30, 2024, net of taxes | $ | 173 |  |  | $ | (2,808) |  |  | $ | (2,726) |  |  | $ | (5,361) |
(1) Primarily relates to foreign currency cash flow hedges that were reclassified from AOCL to Sales. (2) Includes net amortization of prior service cost, actuarial gains and losses, settlements and curtailments included in net periodic benefit cost (see Note 10).

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