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Accumulated Other Comprehensive Income (AOCI) | 3 Months Ended
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Mar. 31, 2023
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 months ended March 31, 2023 and the reclassifications out of AOCI for the three months ended March 31, 2023 and 2022:
| Three months ended March 31, 2023
| 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, 2022 | $ | (2,622) |  |  | $ | 148 |  |  | $ | (22) |  |  | $ | (13) |  |  | $ | (2,509) |
Other comprehensive income (loss) before reclassifications | 234 |  |  | (208) |  |  | 5 |  |  | 4 |  |  | 35 |
Gain (loss) on net investment hedges | (78) |  |  | — |  |  | — |  |  | — |  |  | (78) |
Amounts reclassified from AOCI | — |  |  | 104 |  |  | (31) |  |  | — |  |  | 73 |
Tax effect | 14 |  |  | 16 |  |  | (13) |  |  | (1) |  |  | 16 |
Net of tax amount | 170 |  |  | (88) |  |  | (39) |  |  | 3 |  |  | 46 |
Balance at March 31, 2023 | $ | (2,452) |  |  | $ | 60 |  |  | $ | (61) |  |  | $ | (10) |  |  | $ | (2,463) |
| Amount reclassified from AOCI |
| Three months ended March 31, |  |  | Affected line item in the consolidated statements of earnings
Details about AOCI components | 2023 | 2022 |  |  |
| (In millions) |
Deferred loss (gain) on hedging activities |  |  |  |  |  |
| $ | 104 |  | $ | (98) |  |  |  |  | Cost of products sold
| 104 |  | (98) |  |  |  |  | Total before tax
| (18) |  | 19 |  |  |  |  | Tax
| $ | 86 |  | $ | (79) |  |  |  |  | Net of tax
Pension liability adjustment |  |  |  |  |  |
Amortization of defined benefit pension items: |  |  |  |  |  |
Prior service loss (credit) | $ | (11) |  | $ | 8 |  |  |  |  | Other (income) expense-net
Actuarial losses | (20) |  | 23 |  |  |  |  | Other (income) expense-net
| (31) |  | 31 |  |  |  |  | Total before tax
| (12) |  | (6) |  |  |  |  | Tax
| $ | (43) |  | $ | 25 |  |  |  |  | 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 https://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 https://asc.fasb.org/extlink&oid=126953954&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 https://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 https://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263 + Details
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