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Note 8 - Accumulated Other Comprehensive Income/Loss

9 Months Ended

Sep. 30, 2023

Notes to Financial Statements

Comprehensive Income (Loss) Note [Text Block]

8. Accumulated Other Comprehensive Income/Loss

Reclassifications out of accumulated other comprehensive income/loss were as follows (net of tax):

Millions	Defined benefit plans				Foreign currency translation				Unrealized gain on derivative instruments [a]					Total
Balance at July 1, 2023		$	(373	)		$	(160	)		$	16			$	(517	)
Other comprehensive income/(loss) before reclassifications			(1	)			22				-				21
Amounts reclassified from accumulated other comprehensive income/(loss) [b]			(1	)			-				-				(1	)
Net quarter-to-date other comprehensive income/(loss), net of taxes of ($1) million			(2	)			22				-				20
Balance at September 30, 2023		$	(375	)		$	(138	)		$	16			$	(497	)
Balance at July 1, 2022		$	(629	)		$	(212	)		$	-			$	(841	)
Other comprehensive income/(loss) before reclassifications			-				(6	)			-				(6	)
Amounts reclassified from accumulated other comprehensive income/(loss) [b]			15				-				-				15
Net quarter-to-date other comprehensive income/(loss), net of taxes of ($6) million			15				(6	)			-				9
Balance at September 30, 2022		$	(614	)		$	(218	)		$	-			$	(832	)

[a]	Related to interest rate swaps from equity method investments.
[b]	The accumulated other comprehensive income/loss reclassification components are 1) prior service cost/credit and 2) net actuarial loss, which are both included in the computation of net periodic pension benefit/cost. See Note 4 Retirement Plans for additional details.

Millions	Defined benefit plans				Foreign currency translation				Unrealized gain on derivative instruments [a]					Total
Balance at January 1, 2023		$	(378	)		$	(204	)		$	-			$	(582	)
Other comprehensive income/(loss) before reclassifications			5				66				16				87
Amounts reclassified from accumulated other comprehensive income/(loss) [b]			(2	)			-				-				(2	)
Net year-to-date other comprehensive income/(loss), net of taxes of ($4) million			3				66				16				85
Balance at September 30, 2023		$	(375	)		$	(138	)		$	16			$	(497	)
Balance at January 1, 2022		$	(658	)		$	(256	)		$	-			$	(914	)
Other comprehensive income/(loss) before reclassifications			-				38				-				38
Amounts reclassified from accumulated other comprehensive income/(loss) [b]			44				-				-				44
Net year-to-date other comprehensive income/(loss), net of taxes of ($17) million			44				38				-				82
Balance at September 30, 2022		$	(614	)		$	(218	)		$	-			$	(832	)

[a]	Related to interest rate swaps from equity method investments.
[b]	The accumulated other comprehensive income/loss reclassification components are 1) prior service cost/credit and 2) net actuarial loss, which are both included in the computation of net periodic pension benefit/cost. See Note 4 Retirement Plans for additional details.

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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

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- References

No definition available.

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