XML 28 R17.htm IDEA: XBRL DOCUMENT
v3.24.1.u1

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) | 3 Months Ended
--- | ---
Mar. 31, 2024
Equity [Abstract] |
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) | ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) Comprehensive income includes all changes in stockholders’ equity that do not arise from transactions with stockholders, and consists of net income (loss), cumulative translation adjustments (CTA), certain gains and losses from pension and other postretirement employee benefit (OPEB) plans, gains and losses on cash flow hedges, and unrealized gains and losses on available-for-sale debt securities. 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. 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 Refer to Note 11 for additional information regarding the amortization of pension and OPEB items and Note 14 for additional information regarding hedging activity

X
- 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//1943274/2147483586/944-220-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//1943274/2147483589/942-220-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
Name: | us-gaap_ComprehensiveIncomeNoteTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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