XML 43 R32.htm IDEA: XBRL DOCUMENT
v3.24.1.u1

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2024
Equity [Abstract] |
Summary of Changes in AOCI by Component | The following table is a net-of-tax summary of the changes in accumulated other comprehensive income (loss) (AOCI) by component for the three months ended March 31, 2024 and 2023.
| Gains (losses)
(in millions) | CTA | Pension and OPEB plans | Hedging activities | Available-for-sale debt securities | Total
Balance as of December 31, 2023 | $ | (2,985) |  | $ | (452) |  | $ | (120) |  | $ | 3 |  | $ | (3,554) |
Other comprehensive income (loss) before reclassifications | (180) |  | 5 |  | 6 |  | — |  | (169) |
Amounts reclassified from AOCI (a) | — |  | (1) |  | 2 |  | — |  | 1 |
Net other comprehensive income (loss) | (180) |  | 4 |  | 8 |  | — |  | (168) |
Balance as of March 31, 2024 | $ | (3,165) |  | $ | (448) |  | $ | (112) |  | $ | 3 |  | $ | (3,722) |
| Gains (losses)
(in millions) | CTA | Pension and OPEB plans | Hedging activities | Available-for-sale debt securities | Total
Balance as of December 31, 2022 | $ | (3,386) |  | $ | (331) |  | $ | (119) |  | $ | 3 |  | $ | (3,833) |
Other comprehensive income (loss) before reclassifications | 102 |  | (3) |  | — |  | — |  | 99 |
Amounts reclassified from AOCI (a) | — |  | (3) |  | (2) |  | — |  | (5) |
Net other comprehensive income (loss) | 102 |  | (6) |  | (2) |  | — |  | 94 |
Balance as of March 31, 2023 | $ | (3,284) |  | $ | (337) |  | $ | (121) |  | $ | 3 |  | $ | (3,739) |
(a) See table below for details about these reclassifications.
Summary of Reclassification from AOCI to Net Income | The following is a summary of the amounts reclassified from AOCI to net income during the three months ended March 31, 2024 and 2023.
| Amounts reclassified from AOCI (a) |
(in millions) | Three months ended March 31, 2024 | Three months ended March 31, 2023 | Location of impact in income statement
Pension and OPEB items |  |  |
Amortization of net losses and prior service costs or credits | $ | 2 |  | $ | 5 |  | Other income, net
Less: Tax effect | (1) |  | (2) |  | Income tax expense
| $ | 1 |  | $ | 3 |  | Net of tax
Gains (losses) on hedging activities |  |  |
Foreign exchange contracts | $ | 2 |  | $ | 4 |  | Cost of sales
Interest rate contracts | (1) |  | (1) |  | Interest expense, net
Fair value hedges | (3) |  | — |  | Other income, net
| (2) |  | 3 |  | Total before tax
Less: Tax effect | — |  | (1) |  | Income tax expense
| $ | (2) |  | $ | 2 |  | Net of tax
Total reclassifications for the period | $ | (1) |  | $ | 5 |  | Total net of tax
(a) Amounts in parentheses indicate reductions to net income

X
- References No definition available. + Details
Name: | us-gaap_EquityAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information about items reclassified out of accumulated other comprehensive income (loss). + References No definition available. + Details
Name: | us-gaap_ReclassificationOutOfAccumulatedOtherComprehensiveIncomeTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of accumulated other comprehensive income (loss). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 14A -Publisher FASB -URI https://asc.fasb.org//1943274/2147482790/220-10-45-14A Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 830 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481674/830-30-50-1 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 830 -SubTopic 30 -Name Accounting Standards Codification -Section 45 -Paragraph 20 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481694/830-30-45-20 + Details
Name: | us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration