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Equity (Tables) | 12 Months Ended
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Dec. 31, 2021
Equity [Abstract] |
Share activity | Activity in the number of shares of common stock and treasury stock was as follows (in millions):
| Common Stock |  | Treasury Stock
Balance as of December 31, 2018 | 673 |  |  | (256) |
Transactions in connection with stock-based compensation plans | — |  |  | 1 |
Open market stock purchases | — |  |  | (9) |
Balance as of December 31, 2019 | 673 |  |  | (264) |
Transactions in connection with stock-based compensation plans | — |  |  | 1 |
Open market stock purchases | — |  |  | (2) |
Balance as of December 31, 2020 | 673 |  |  | (265) |
Transactions in connection with stock-based compensation plans | — |  |  | 1 |
Balance as of December 31, 2021 | 673 |  |  | (264) |
Income tax effects related to components of other comprehensive income | The tax effects allocated to each component of other comprehensive income were as follows (in millions):
| Before-Tax Amount |  | Tax Expense (Benefit) |  | Net Amount
Year ended December 31, 2021 |  |  |  |  |
Foreign currency translation adjustment | $ | (47) |  |  | $ | — |  |  | $ | (47) |
Pension and other postretirement benefits: |  |  |  |  |
Gain arising during the year related to: |  |  |  |  |
Net actuarial gain | 317 |  |  | 69 |  |  | 248 |
Prior service cost | (4) |  |  | (1) |  |  | (3) |
Amounts reclassified into income related to: |  |  |  |  |
Net actuarial loss | 80 |  |  | 18 |  |  | 62 |
Prior service credit | (25) |  |  | (6) |  |  | (19) |
Curtailment and settlement loss | 8 |  |  | 2 |  |  | 6 |
Effect of exchange rates | 2 |  |  | — |  |  | 2 |
Net gain on pension and other postretirement benefits | 378 |  |  | 82 |  |  | 296 |
Derivative instruments designated and qualifying as cash flow hedges: |  |  |  |  |
Net loss arising during the year | (48) |  |  | (5) |  |  | (43) |
Net loss reclassified into income | 46 |  |  | 5 |  |  | 41 |
Net loss on cash flow hedges | (2) |  |  | — |  |  | (2) |
Other comprehensive income | $ | 329 |  |  | $ | 82 |  |  | $ | 247 |
| Before-Tax Amount |  | Tax Expense (Benefit) |  | Net Amount
Year ended December 31, 2020 |  |  |  |  |
Foreign currency translation adjustment | $ | 161 |  |  | $ | — |  |  | $ | 161 |
Pension and other postretirement benefits: |  |  |  |  |
Loss arising during the year related to: |  |  |  |  |
Net actuarial loss | (128) |  |  | (26) |  |  | (102) |
Prior service cost | (5) |  |  | (1) |  |  | (4) |
Amounts reclassified into income related to: |  |  |  |  |
Net actuarial loss | 74 |  |  | 17 |  |  | 57 |
Prior service credit | (26) |  |  | (6) |  |  | (20) |
Curtailment and settlement loss | 5 |  |  | 1 |  |  | 4 |
Net loss on pension and other postretirement benefits | (80) |  |  | (15) |  |  | (65) |
Derivative instruments designated and qualifying as cash flow hedges: |  |  |  |  |
Net gain arising during the year | 36 |  |  | 3 |  |  | 33 |
Net gain reclassified into income | (34) |  |  | (4) |  |  | (30) |
Net gain on cash flow hedges | 2 |  |  | (1) |  |  | 3 |
Other comprehensive income | $ | 83 |  |  | $ | (16) |  |  | $ | 99 |
Year ended December 31, 2019 |  |  |  |  |
Foreign currency translation adjustment | $ | 349 |  |  | $ | — |  |  | $ | 349 |
Pension and other postretirement benefits: |  |  |  |  |
Loss arising during the year related to: |  |  |  |  |
Net actuarial loss | (245) |  |  | (54) |  |  | (191) |
Prior service cost | (3) |  |  | (1) |  |  | (2) |
Miscellaneous loss | — |  |  | 4 |  |  | (4) |
Amounts reclassified into income related to: |  |  |  |  |
Net actuarial loss | 38 |  |  | 9 |  |  | 29 |
Prior service credit | (28) |  |  | (6) |  |  | (22) |
Curtailment and settlement loss | 4 |  |  | 1 |  |  | 3 |
Net loss on pension and other postretirement benefits | (234) |  |  | (47) |  |  | (187) |
Derivative instruments designated and qualifying as cash flow hedges: |  |  |  |  |
Net loss arising during the year | (6) |  |  | (1) |  |  | (5) |
Net gain reclassified into income | (2) |  |  | — |  |  | (2) |
Net loss on cash flow hedges | (8) |  |  | (1) |  |  | (7) |
Other comprehensive income | $ | 107 |  |  | $ | (48) |  |  | $ | 155 |
Changes in components of accumulated other comprehensive loss | Changes in accumulated other comprehensive loss by component, net of tax, were as follows (in millions):
| Foreign Currency Translation Adjustment |  | Defined Benefit Plans Items |  | Gains (Losses) on Cash Flow Hedges |  | Total
Balance as of December 31, 2018 | $ | (1,022) |  |  | $ | (485) |  |  | $ | — |  |  | $ | (1,507) |
Other comprehensive income (loss) before reclassifications | 346 |  |  | (197) |  |  | (2) |  |  | 147 |
Amounts reclassified from accumulated other comprehensive loss | — |  |  | 10 |  |  | (1) |  |  | 9 |
Other comprehensive income (loss) | 346 |  |  | (187) |  |  | (3) |  |  | 156 |
Balance as of December 31, 2019 | (676) |  |  | (672) |  |  | (3) |  |  | (1,351) |
Other comprehensive income (loss) before reclassifications | 161 |  |  | (106) |  |  | 14 |  |  | 69 |
Amounts reclassified from accumulated other comprehensive loss | — |  |  | 41 |  |  | (13) |  |  | 28 |
Other comprehensive income (loss) | 161 |  |  | (65) |  |  | 1 |  |  | 97 |
Balance as of December 31, 2020 | (515) |  |  | (737) |  |  | (2) |  |  | (1,254) |
Other comprehensive income (loss) before reclassifications | (47) |  |  | 245 |  |  | (21) |  |  | 177 |
Amounts reclassified from accumulated other comprehensive loss | — |  |  | 49 |  |  | 18 |  |  | 67 |
Effect of exchange rates | — |  |  | 2 |  |  | — |  |  | 2 |
Other comprehensive income (loss) | (47) |  |  | 296 |  |  | (3) |  |  | 246 |
Balance as of December 31, 2021 | $ | (562) |  |  | $ | (441) |  |  | $ | (5) |  |  | $ | (1,008) |
Gains (losses) reclassified out of accumulated other comprehensive loss | Gains (losses) reclassified out of accumulated other comprehensive loss and into net income (loss) were as follows (in millions):
Details about Accumulated Other Comprehensive Loss Components |  |  |  | Affected Line Item in the Statement of Income
| Year Ended December 31, |
| 2021 |  | 2020 |  | 2019 |
Amortization of items related to defined benefit pension plans: |  |  |  |  |  |  |  |
Net actuarial loss |  | $ | (80) |  |  | $ | (74) |  |  | $ | (38) |  |  | (a) Other income, net
Prior service credit |  | 25 |  |  | 26 |  |  | 28 |  |  | (a) Other income, net
Curtailment and settlement |  | (8) |  |  | (5) |  |  | (4) |  |  | (a) Other income, net
|  | (63) |  |  | (53) |  |  | (14) |  |  | Total before tax
|  | 14 |  |  | 12 |  |  | 4 |  |  | Tax benefit
|  | $ | (49) |  |  | $ | (41) |  |  | $ | (10) |  |  | Net of tax
Gains (losses) on cash flow hedges: |  |  |  |  |  |  |  |
Commodity contracts |  | $ | (46) |  |  | $ | 34 |  |  | $ | 2 |  |  | Revenues
|  | (46) |  |  | 34 |  |  | 2 |  |  | Total before tax
|  | 5 |  |  | (4) |  |  | — |  |  | Tax (expense) benefit
|  | $ | (41) |  |  | $ | 30 |  |  | $ | 2 |  |  | Net of tax
Total reclassifications for the year |  | $ | (90) |  |  | $ | (11) |  |  | $ | (8) |  |  | Net of tax
________________________ (a)These accumulated other comprehensive loss components are included in the computation of net periodic benefit cost, as discussed in Note 14.

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