XML 43 R31.htm IDEA: XBRL DOCUMENT
v3.24.3

Other Comprehensive (Loss) Income (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2024
Equity [Abstract] |
Schedule of Accumulated Other Comprehensive (Loss) Income | The changes, net of tax, in the balances of each component of AOCI for the three and nine months ended September 30, 2024 and 2023, including amounts reclassified out of AOCI, are as follows:
(In millions) |  |  | Pension/Post-Retirement Plans Gains (Losses) |  | Foreign Currency Translation Adjustments |  | Total
Balance at July 1, 2024 |  |  | $ | (3,050) |  |  | $ | (2,477) |  |  | $ | (5,527) |
Other comprehensive (loss) income before reclassifications |  |  | (135) |  |  | 668 |  |  | 533 |
Amounts reclassified from accumulated other comprehensive income |  |  | 4 |  |  | — |  |  | 4 |
Net current period other comprehensive (loss) income |  |  | (131) |  |  | 668 |  |  | 537 |
Balance at September 30, 2024 (a) |  |  | $ | (3,181) |  |  | $ | (1,809) |  |  | $ | (4,990) |
(In millions) |  |  | Pension/Post-Retirement Plans Gains (Losses) |  | Foreign Currency Translation Adjustments |  | Total
Balance at July 1, 2023 |  |  | $ | (2,811) |  |  | $ | (2,244) |  |  | $ | (5,055) |
Other comprehensive income (loss) before reclassifications |  |  | 76 |  |  | (485) |  |  | (409) |
Amounts reclassified from accumulated other comprehensive income |  |  | 4 |  |  | — |  |  | 4 |
Net current period other comprehensive income (loss) |  |  | 80 |  |  | (485) |  |  | (405) |
Balance at September 30, 2023 (a) |  |  | $ | (2,731) |  |  | $ | (2,729) |  |  | $ | (5,460) |
(a)At September 30, 2024 and 2023, balances are net of deferred tax assets in pension and post-retirement plans gains (losses) of $1.5 billion and $1.3 billion, respectively.
(In millions) |  |  | Pension/Post-Retirement Plans Gains (Losses) |  | Foreign Currency Translation Adjustments |  | Total
Balance at January 1, 2024 |  |  | $ | (3,101) |  |  | $ | (2,194) |  |  | $ | (5,295) |
Other comprehensive (loss) income before reclassifications |  |  | (93) |  |  | 385 |  |  | 292 |
Amounts reclassified from accumulated other comprehensive income |  |  | 13 |  |  | — |  |  | 13 |
Net current period other comprehensive (loss) income |  |  | (80) |  |  | 385 |  |  | 305 |
Balance at September 30, 2024 (a) |  |  | $ | (3,181) |  |  | $ | (1,809) |  |  | $ | (4,990) |
(In millions) |  |  | Pension/Post-Retirement Plans Gains (Losses) |  | Foreign Currency Translation Adjustments |  | Total
Balance at January 1, 2023 |  |  | $ | (2,721) |  |  | $ | (2,593) |  |  | $ | (5,314) |
Other comprehensive (loss) income before reclassifications |  |  | (20) |  |  | (136) |  |  | (156) |
Amounts reclassified from accumulated other comprehensive income |  |  | 10 |  |  | — |  |  | 10 |
Net current period other comprehensive (loss) income |  |  | (10) |  |  | (136) |  |  | (146) |
Balance at September 30, 2023 (a) |  |  | $ | (2,731) |  |  | $ | (2,729) |  |  | $ | (5,460) |
(a)At September 30, 2024 and 2023, balances are net of deferred tax assets in pension and post-retirement plans gains (losses) of $1.5 billion and $1.3 billion, respectively.
Schedule of Components of Other Comprehensive (Loss) Income | The components of other comprehensive (loss) income for the three and nine months ended September 30, 2024 and 2023 are as follows:
Three Months Ended September 30, | 2024 |  | 2023
(In millions) | Pre-Tax | Tax | Net of Tax |  | Pre-Tax | Tax (Credit) | Net of Tax
Foreign currency translation adjustments | $ | 661 |  | $ | (7) |  | $ | 668 |  |  | $ | (473) |  | $ | 12 |  | $ | (485) |
Pension/post-retirement plans: |  |  |  |  |  |  |
Amortization of (gains) losses included in net benefit (credit) cost: |  |  |  |  |  |  |
Net actuarial losses (a) | 6 |  | 2 |  | 4 |  |  | 5 |  | 1 |  | 4 |
Subtotal | 6 |  | 2 |  | 4 |  |  | 5 |  | 1 |  | 4 |
Foreign currency translation adjustments | (180) |  | (44) |  | (136) |  |  | 102 |  | 26 |  | 76 |
Effect of settlement | 1 |  | — |  | 1 |  |  | — |  | — |  | — |
Pension/post-retirement plans (losses) gains | (173) |  | (42) |  | (131) |  |  | 107 |  | 27 |  | 80 |
Other comprehensive income (loss) | $ | 488 |  | $ | (49) |  | $ | 537 |  |  | $ | (366) |  | $ | 39 |  | $ | (405) |
(a) Included in other net benefit credits in the consolidated statements of income. Income tax expense on net actuarial losses are included in income tax expense.
Nine Months Ended September 30, | 2024 |  | 2023
(In millions) | Pre-Tax | Tax | Net of Tax |  | Pre-Tax | Tax (Credit) | Net of Tax
Foreign currency translation adjustments | $ | 389 |  | $ | 4 |  | $ | 385 |  |  | $ | (131) |  | $ | 5 |  | $ | (136) |
Pension/post-retirement plans: |  |  |  |  |  |  |
Amortization of (gains) losses included in net benefit (credit) cost: |  |  |  |  |  |  |
Prior service credits (a) | (1) |  | — |  | (1) |  |  | (1) |  | — |  | (1) |
Net actuarial losses (a) | 19 |  | 5 |  | 14 |  |  | 15 |  | 4 |  | 11 |
Subtotal | 18 |  | 5 |  | 13 |  |  | 14 |  | 4 |  | 10 |
Foreign currency translation adjustments | (124) |  | (30) |  | (94) |  |  | (20) |  | (5) |  | (15) |
Effect of settlement | 1 |  | — |  | 1 |  |  | — |  | — |  | — |
Other adjustments | — |  | — |  | — |  |  | (7) |  | (2) |  | (5) |
Pension/post-retirement plans (losses) gains | (105) |  | (25) |  | (80) |  |  | (13) |  | (3) |  | (10) |
Other comprehensive income (loss) | $ | 284 |  | $ | (21) |  | $ | 305 |  |  | $ | (144) |  | $ | 2 |  | $ | (146) |
(a) Included in other net benefit credits in the consolidated statements of income. Income tax expense on net actuarial losses are included in income tax expense.

X
- References No definition available. + Details
Name: | us-gaap_EquityAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of accumulated other comprehensive income (loss). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 14A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482790/220-10-45-14A Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 830 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481674/830-30-50-1 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 830 -SubTopic 30 -Name Accounting Standards Codification -Section 45 -Paragraph 20 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481694/830-30-45-20 + Details
Name: | us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of components of comprehensive income (loss). Includes, but is not limited to, foreign currency translation adjustments, foreign currency transactions designated as economic hedges of a net investment in foreign entity, gain (loss) and prior service cost (credit) for pension plans and other postretirement benefit plans. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 1 -Section 45 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482790/220-10-45-1 + Details
Name: | us-gaap_ScheduleOfComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration