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Accumulated Other Comprehensive Income (AOCI) | 9 Months Ended
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Sep. 30, 2022
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract] |
Accumulated Other Comprehensive Income (AOCI) | Accumulated Other Comprehensive Income The following tables set forth the changes in AOCI by component for the three and nine months ended September 30, 2022 and the reclassifications out of AOCI for the three and nine months ended September 30, 2022 and 2021:
| Three months ended September 30, 2022
| Foreign Currency Translation Adjustment |  | Deferred Gain (Loss) on Hedging Activities |  | Pension Liability Adjustment |  | Unrealized Gain (Loss) on Investments |  | Total
| (In millions)
Balance at June 30, 2022 | $ | (2,212) |  |  | $ | 382 |  |  | $ | (121) |  |  | $ | (14) |  |  | $ | (1,965) |
Other comprehensive income (loss) before reclassifications | (536) |  |  | 161 |  |  | 8 |  |  | — |  |  | (367) |
Gain (loss) on net investment hedges | 318 |  |  | — |  |  | — |  |  | — |  |  | 318 |
Amounts reclassified from AOCI | — |  |  | (118) |  |  | — |  |  | — |  |  | (118) |
Tax effect | (74) |  |  | (5) |  |  | (2) |  |  | 1 |  |  | (80) |
Net of tax amount | (292) |  |  | 38 |  |  | 6 |  |  | 1 |  |  | (247) |
Balance at September 30, 2022 | $ | (2,504) |  |  | $ | 420 |  |  | $ | (115) |  |  | $ | (13) |  |  | $ | (2,212) |
| Nine months ended September 30, 2022
| Foreign Currency Translation Adjustment |  | Deferred Gain (Loss) on Hedging Activities |  | Pension Liability Adjustment |  | Unrealized Gain (Loss) on Investments |  | Total
| (In millions)
Balance at December 31, 2021 | $ | (2,248) |  |  | $ | 225 |  |  | $ | (147) |  |  | $ | (2) |  |  | $ | (2,172) |
Other comprehensive income (loss) before reclassifications | (844) |  |  | 611 |  |  | 22 |  |  | (13) |  |  | (224) |
Gain (loss) on net investment hedges | 777 |  |  | — |  |  | — |  |  | — |  |  | 777 |
Amounts reclassified from AOCI | — |  |  | (366) |  |  | 23 |  |  | — |  |  | (343) |
Tax effect | (189) |  |  | (50) |  |  | (13) |  |  | 2 |  |  | (250) |
Net of tax amount | (256) |  |  | 195 |  |  | 32 |  |  | (11) |  |  | (40) |
Balance at September 30, 2022 | $ | (2,504) |  |  | $ | 420 |  |  | $ | (115) |  |  | $ | (13) |  |  | $ | (2,212) |
| Amount reclassified from AOCI |
| Three months ended September 30, |  | Nine months ended September 30, | Affected line item in the consolidated statements of earnings
Details about AOCI components | 2022 | 2021 |  | 2022 | 2021
| (In millions) |
Deferred loss (gain) on hedging activities |  |  |  |  |  |
| $ | (1) |  | $ | — |  |  | $ | (1) |  | $ | 15 |  | Revenues
| (117) |  | (122) |  |  | (365) |  | (450) |  | Cost of products sold
| (118) |  | (122) |  |  | (366) |  | (435) |  | Total before tax
| 17 |  | 29 |  |  | 69 |  | 108 |  | Tax
| $ | (101) |  | $ | (93) |  |  | $ | (297) |  | $ | (327) |  | Net of tax
Pension liability adjustment |  |  |  |  |  |
Amortization of defined benefit pension items: |  |  |  |  |  |
Prior service loss (credit) | $ | (10) |  | $ | (4) |  |  | $ | (114) |  | $ | (71) |  | Other (income) expense-net
Actuarial losses | 10 |  | 12 |  |  | 137 |  | 161 |  | Other (income) expense-net
| — |  | 8 |  |  | 23 |  | 90 |  | Total before tax
| — |  | 6 |  |  | (8) |  | (20) |  | Tax
| $ | — |  | $ | 14 |  |  | $ | 15 |  | $ | 70 |  | Net of tax
The Company’s accounting policy is to release the income tax effects from AOCI when the individual units of account are sold, terminated, or extinguished.

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -URI http://asc.fasb.org/topic&trid=2134417 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(21)) -URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(23)) -URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(19)) -URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263 + Details
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