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ACCUMULATED OTHER COMPREHENSIVE INCOME | 12 Months Ended
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Dec. 31, 2021
Equity [Abstract] |
ACCUMULATED OTHER COMPREHENSIVE INCOME |
ACCUMULATED OTHER COMPREHENSIVE INCOME
Comprehensive income includes all changes in stockholders’ equity that do not arise from transactions with stockholders, and consists of net income, CTA, certain gains and losses from other postretirement employee benefit (OPEB) plans and gains and losses on cash flow hedges. The following table is a net-of-tax summary of the changes in AOCI by component for the years ended December 31, 2021 and 2020.
(in millions) | CTA | Pension and OPEB plans | Hedging activities | Total
Gains (losses) |  |  |  |
Balance as of December 31, 2020 | $ | (2,587) |  | $ | (574) |  | $ | (153) |  | $ | (3,314) |
Other comprehensive (loss) income before reclassifications | (320) |  | 160 |  | 4 |  | (156) |
Amounts reclassified from AOCI (a) | — |  | 67 |  | 23 |  | 90 |
Net other comprehensive (loss) income | (320) |  | 227 |  | 27 |  | (66) |
Balance as of December 31, 2021 | $ | (2,907) |  | $ | (347) |  | $ | (126) |  | $ | (3,380) |
(in millions) | CTA | Pension and OPEB plans | Hedging activities | Total
Gains (losses) |  |  |  |
Balance as of December 31, 2019 | $ | (2,954) |  | $ | (715) |  | $ | (41) |  | $ | (3,710) |
Other comprehensive income (loss) before reclassifications | 367 |  | 59 |  | (117) |  | 309 |
Amounts reclassified from AOCI (a) | — |  | 82 |  | 5 |  | 87 |
Net other comprehensive (loss) income | 367 |  | 141 |  | (112) |  | 396 |
Balance as of December 31, 2020 | $ | (2,587) |  | $ | (574) |  | $ | (153) |  | $ | (3,314) |
(a) See table below for details about these reclassifications. The following table is a summary of the amounts reclassified from AOCI to net income during the years ended December 31, 2021 and 2020.
| Amounts reclassified from AOCI (a) |
(in millions) | 2021 | 2020 | Location of impact in income statement
Pension and OPEB items |  |  |
Amortization of net losses and prior service costs or credits | $ | (82) |  | $ | (59) |  | Other expense, net
Settlement charges | (2) |  | (46) |  | Other expense, net
| (84) |  | (105) |  | Total before tax
Less: Tax effect | 17 |  | 23 |  | Income tax expense
| $ | (67) |  | $ | (82) |  | Net of tax
Gains (losses) on hedging activities |  |  |
Foreign exchange contracts | $ | (23) |  | $ | (5) |  | Cost of sales
Interest rate contracts | (6) |  | (1) |  | Interest expense, net
| (29) |  | (6) |  | Total before tax
Less: Tax effect | 6 |  | 1 |  | Income tax expense
| $ | (23) |  | $ | (5) |  | Net of tax
Total reclassification for the period | $ | (90) |  | $ | (87) |  | Total net of tax
(a)Amounts in parentheses indicate reductions to net income. Refer to Note 12 for additional information regarding the amortization of pension and OPEB items and Note 15 for additional information regarding hedging activity.

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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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