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Shareholders' Equity | 12 Months Ended
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Dec. 31, 2024
Stockholders' Equity Note [Abstract] |
Shareholders' Equity | Shareholders’ Deficit Under the authority of our Board of Directors, we repurchased shares of our Common Stock during 2024, 2023 and 2022. All amounts exclude applicable transaction fees and excise taxes on share repurchases.
|  | Shares Repurchased (thousands) |  | Dollar Value of Shares Repurchased
Authorization Date |  | 2024 |  |  | 2023 |  |  | 2022 |  |  | 2024 |  |  | 2023 |  |  | 2022 |
May 2024 |  | 2,916 |  |  |  | — |  |  |  | — |  |  |  | $ | 391 |  |  |  | $ | — |  |  |  | $ | — |  |
September 2022 |  | 366 |  |  |  | 387 |  |  |  | 1,967 |  |  |  | 50 |  |  |  | 50 |  |  |  | 250 |  |
May 2021 |  | — |  |  |  | — |  |  |  | 8,116 |  |  |  | — |  |  |  | — |  |  |  | 950 |  |
Total |  | 3,282 |  |  |  | 387 |  |  |  | 10,083 |  |  |  | $ | 441 |  |  |  | $ | 50 |  |  |  | $ | 1,200 |  |
In May 2024, our Board of Directors authorized share repurchases of up to $2 billion (excluding applicable transaction fees and excise taxes) of our outstanding Common Stock through December 31, 2026. The new authorization took effect on July 1, 2024 upon the expiration of a prior authorization approved in September 2022. As of December 31, 2024, we have remaining capacity to repurchase up to $1.6 billion of Common Stock under the May 2024 authorization. Changes in AOCI are presented below.
|  | Translation Adjustments and Gains (Losses) From Intra-Entity Transactions of a Long-Term Nature |  | Pension and Post-Retirement Benefits(a) |  | Derivative Instruments(b) |  | Total
Balance at December 31, 2022, net of tax |  | $ | (290) |  |  | $ | (94) |  |  | $ | 15 |  |  | $ | (369) |
OCI, net of tax |  |  |  |  |  |  |  |
Gains (losses) arising during the year classified into AOCI, net of tax |  | 18 |  |  | (11) |  |  | 10 |  |  | 17 |
(Gains) losses reclassified from AOCI, net of tax |  | 71 |  |  | 1 |  |  | (22) |  |  | 50 |
|  | 89 |  |  | (10) |  |  | (12) |  |  | 67 |
Balance at December 31, 2023, net of tax |  | $ | (201) |  |  | $ | (104) |  |  | $ | 3 |  |  | $ | (302) |
OCI, net of tax |  |  |  |  |  |  |  |
Gains (losses) arising during the year classified into AOCI, net of tax |  | (37) |  |  | (42) |  |  | 10 |  |  | (69) |
(Gains) losses reclassified from AOCI, net of tax |  | — |  |  | 3 |  |  | (24) |  |  | (21) |
|  | (37) |  |  | (39) |  |  | (14) |  |  | (90) |
Balance at December 31, 2024, net of tax |  | $ | (238) |  |  | $ | (143) |  |  | $ | (11) |  |  | $ | (392) |
(a) Amounts reclassified from AOCI for pension and post-retirement benefit plans losses during 2024 include amortization of net losses of $2 million and amortization of prior service cost of $1 million. Amounts reclassified from AOCI for pension and post-retirement benefit plans losses during 2023 include amortization of prior service cost of $1 million. See Note 15. (b) See Note 13 for details on amounts reclassified from AOCI.

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