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ACCUMULATED OTHER COMPREHENSIVE LOSS | 12 Months Ended
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Dec. 31, 2024
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] |
ACCUMULATED OTHER COMPREHENSIVE LOSS | ACCUMULATED OTHER COMPREHENSIVE LOSS The changes in Accumulated other comprehensive loss are provided in the tables below. Comprehensive income (loss) attributable to noncontrolling interest consists predominantly of net income.
| Pre-tax |  | Tax |  | After-Tax
Year Ended December 31, 2022 |  |  |  |  |
Foreign exchange translation adjustment | $ | (354) |  |  | $ | — |  |  | $ | (354) |
Pension and other postretirement benefit adjustments | (280) |  |  | 47 |  |  | (233) |
Changes in fair value of available for sale investments | (8) |  |  | — |  |  | (8) |
Changes in fair value of cash flow hedges | 9 |  |  | 6 |  |  | 15 |
Total net current period other comprehensive income (loss) | $ | (633) |  |  | $ | 53 |  |  | $ | (580) |
Year Ended December 31, 2023 |  |  |  |  |
Foreign exchange translation adjustment | $ | (269) |  |  | $ | — |  |  | $ | (269) |
Pension and other postretirement benefit adjustments | (538) |  |  | 131 |  |  | (407) |
Changes in fair value of available for sale investments | 5 |  |  | — |  |  | 5 |
Changes in fair value of cash flow hedges | 17 |  |  | (6) |  |  | 11 |
Total net current period other comprehensive income (loss) | $ | (785) |  |  | $ | 125 |  |  | $ | (660) |
Year Ended December 31, 2024 |  |  |  |  |
Foreign exchange translation adjustment | $ | 229 |  |  | $ | — |  |  | $ | 229 |
Pension and other postretirement benefit adjustments | 542 |  |  | (129) |  |  | 413 |
Changes in fair value of available for sale investments | 1 |  |  | — |  |  | 1 |
Changes in fair value of cash flow hedges | (8) |  |  | 9 |  |  | 1 |
Total net current period other comprehensive income (loss) | $ | 764 |  |  | $ | (120) |  |  | $ | 644 |
COMPONENTS OF ACCUMULATED OTHER COMPREHENSIVE LOSS
| December 31,
2024 |  | 2023
Cumulative foreign exchange translation adjustment | $ | (2,872) |  |  | $ | (3,101) |
Pension and other postretirement benefit adjustments | (642) |  |  | (1,055) |
Fair value adjustments of available for sale investments | (1) |  |  | (2) |
Fair value adjustments of cash flow hedges | 24 |  |  | 23 |
Total Accumulated other comprehensive loss | $ | (3,491) |  |  | $ | (4,135) |
CHANGES IN ACCUMULATED OTHER COMPREHENSIVE LOSS BY COMPONENT
| Foreign Exchange Translation Adjustment |  | Pension and Other Postretirement Benefit Adjustments |  | Changes in Fair Value of Available for Sale Investments |  | Changes in Fair Value of Cash Flow Hedges |  | Total
Balance at December 31, 2021 | $ | (2,478) |  |  | $ | (415) |  |  | $ | 1 |  |  | $ | (3) |  |  | $ | (2,895) |
Other comprehensive income (loss) before reclassifications | (344) |  |  | (623) |  |  | (8) |  |  | 71 |  |  | (904) |
Amounts reclassified from accumulated other comprehensive loss | (10) |  |  | 390 |  |  | — |  |  | (56) |  |  | 324 |
Net current period other comprehensive income (loss) | (354) |  |  | (233) |  |  | (8) |  |  | 15 |  |  | (580) |
Balance at December 31, 2022 | (2,832) |  |  | (648) |  |  | (7) |  |  | 12 |  |  | (3,475) |
Other comprehensive income (loss) before reclassifications | (269) |  |  | (477) |  |  | 5 |  |  | 60 |  |  | (681) |
Amounts reclassified from accumulated other comprehensive loss | — |  |  | 70 |  |  | — |  |  | (49) |  |  | 21 |
Net current period other comprehensive income (loss) | (269) |  |  | (407) |  |  | 5 |  |  | 11 |  |  | (660) |
Balance at December 31, 2023 | (3,101) |  |  | (1,055) |  |  | (2) |  |  | 23 |  |  | (4,135) |
Other comprehensive income (loss) before reclassifications | 229 |  |  | 343 |  |  | 1 |  |  | 17 |  |  | 590 |
Amounts reclassified from accumulated other comprehensive loss | — |  |  | 70 |  |  | — |  |  | (16) |  |  | 54 |
Net current period other comprehensive income (loss) | 229 |  |  | 413 |  |  | 1 |  |  | 1 |  |  | 644 |
Balance at December 31, 2024 | $ | (2,872) |  |  | $ | (642) |  |  | $ | (1) |  |  | $ | 24 |  |  | $ | (3,491) |
RECLASSIFICATIONS OUT OF ACCUMULATED OTHER COMPREHENSIVE LOSS
| Year Ended December 31, 2024
Affected Line in the Consolidated Statement of Operations
Net Sales |  | Cost of Products Sold |  | Cost of Services Sold |  | Selling, General and Administrative Expenses |  | Other (Income) Expense |  | Interest and Other Financial Charges |  | Total
Amortization of pension and other postretirement benefit items |  |  |  |  |  |  |  |  |  |  |  |  |
Actuarial losses recognized | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 115 |  |  | $ | — |  |  | $ | 115 |
Prior service (credit) recognized | — |  |  | — |  |  | — |  |  | — |  |  | (22) |  |  | — |  |  | (22) |
Losses (gains) on cash flow hedges | (2) |  |  | (8) |  |  | (3) |  |  | (4) |  |  | — |  |  | — |  |  | (17) |
Total before tax | $ | (2) |  |  | $ | (8) |  |  | $ | (3) |  |  | $ | (4) |  |  | $ | 93 |  |  | $ | — |  |  | $ | 76 |
Tax expense (benefit) | (22) |
Total reclassifications for the period, net of tax | $ | 54 |
| Year Ended December 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Affected Line in the Consolidated Statement of Operations |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net Sales |  | Cost of Products Sold |  | Cost of Services Sold |  | Selling, General and Administrative Expenses |  | Other (Income) Expense |  | Interest and Other Financial Charges |  | Total |  |  |  |  |  |  |  |  |  |  |  |  |  |
Amortization of pension and other postretirement benefit items |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Actuarial losses recognized | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 141 |  |  | $ | — |  |  | $ | 141 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Prior service (credit) recognized | — |  |  | — |  |  | — |  |  | — |  |  | (63) |  |  | — |  |  | (63) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Losses (gains) on cash flow hedges | (15) |  |  | (28) |  |  | (10) |  |  | (10) |  |  | — |  |  | — |  |  | (63) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total before tax | $ | (15) |  |  | $ | (28) |  |  | $ | (10) |  |  | $ | (10) |  |  | $ | 78 |  |  | $ | — |  |  | $ | 15 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Tax expense (benefit) |  |  |  | 6 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total reclassifications for the period, net of tax |  |  |  | $ | 21 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Year Ended December 31, 2022
Affected Line in the Consolidated Statement of Operations
Net Sales |  | Cost of Products Sold |  | Cost of Services Sold |  | Selling, General and Administrative Expenses |  | Other (Income) Expense |  | Interest and Other Financial Charges |  | Total
Amortization of pension and other postretirement benefit items |  |  |  |  |  |  |  |  |  |  |  |  |
Actuarial losses recognized | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 516 |  |  | $ | — |  |  | $ | 516 |
Prior service (credit) recognized | — |  |  | — |  |  | — |  |  | — |  |  | (84) |  |  | — |  |  | (84) |
Losses (gains) on cash flow hedges | (13) |  |  | (48) |  |  | (14) |  |  | 3 |  |  | — |  |  | — |  |  | (72) |
Losses (gains) on excluded component of net investment hedges | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (13) |  |  | (13) |
Total before tax | $ | (13) |  |  | $ | (48) |  |  | $ | (14) |  |  | $ | 3 |  |  | $ | 432 |  |  | $ | (13) |  |  | $ | 347 |
Tax expense (benefit) |  |  |  |  |  |  |  |  |  |  |  |  | (23) |
Total reclassifications for the period, net of tax |  |  |  | $ | 324 |

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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/1943274/2147477250/944-220-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/1943274/2147478524/942-220-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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