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Accumulated Other Comprehensive Income | 12 Months Ended
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Dec. 31, 2024
Accumulated Other Comprehensive Income [Abstract] |
Accumulated Other Comprehensive Income | 14. ACCUMULATED OTHER COMPREHENSIVE INCOME The components of AOCI are as follows: millions of dollars Unrealized gain (loss) on translation of self-sustaining foreign operations Net change in net investment hedges Gains (losses) on derivatives recognized as cash flow hedges Net change on available- for-sale investments Net change in unrecognized pension and post-retirement benefit costs Total AOCI For the year ended December 31, 2024 Balance, January 1, 2024 $ 369 $ (24) $ 14 $ (2) $ (52) $ 305 OCI before reclassifications 1,027 (139) - 2 - 890 Amounts reclassified from AOCI - - (2) - 68 66 Net current period OCI 1,027 (139) (2) 2 68 956 Balance, December 31, 2024 $ 1,396 $ (163) $ 12 $ - $ 16 $ 1,261 For the year ended December 31, 2023 Balance, January 1, 2023 $ 639 $ (62) $ 16 $ (2) $ (13) $ 578 OCI before reclassifications (270) 38 - - - (232) Amounts reclassified from AOCI - - (2) - (39) (41) Net current period OCI (270) 38 (2) - (39) (273) Balance, December 31, 2023 $ 369 $ (24) $ 14 $ (2) $ (52) $ 305 The reclassifications out of AOCI are as follows: For the Year ended December 31 millions of dollars 2024 2023 Affected line item in the Consolidated Financial Statements Gains on derivatives recognized as cash flow hedges Interest rate hedge Interest expense, net $ (2) $ (2) Net change in unrecognized pension and post-retirement benefit costs Actuarial losses Other income, net $ 2 $ - Past service (gains) costs Other income, net (2) 2 Amounts reclassified into obligations Pension and post-retirement benefits 68 (40) Total before tax 68 (38) Income tax expense - (1) Total net of tax $ 68 $ (39) Total reclassifications out of AOCI, net of tax, for the period $ 66 $ (41)

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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://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(19)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(21)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(23)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/220/tableOfContent + Details
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