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ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
 3 Months Ended
Mar. 31, 2025
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, 2025 and 2024.
Gains (losses)
(in millions)CTAPension and OPEB plansHedging activitiesAvailable-for-sale debt securitiesTotal
Balance as of December 31, 2024
$(3,430)$(475)$(108)$3 $(4,010)
Other comprehensive income (loss) before reclassifications(57)14 — — (43)
Amounts reclassified from AOCI (a)126 (13)(2)— 111 
Net other comprehensive income (loss) 69 1 (2)— 68 
Balance as of March 31, 2025$(3,361)$(474)$(110)$3 $(3,942)
Gains (losses)
(in millions)CTAPension and OPEB plansHedging activitiesAvailable-for-sale debt securitiesTotal
Balance as of December 31, 2023$(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 $(3,722)
(a)    See table below for details about these reclassifications.
The following is a summary of the amounts reclassified from AOCI to net income (loss) during the three months ended March 31, 2025 and 2024.
Amounts reclassified from AOCI (a)
(in millions)Three Months Ended March 31, 2025Three Months Ended March 31, 2024Location of impact in income statement
CTA
Reclassification of cumulative translation loss to earnings from Kidney Care separation$(126)$— Income from discontinued operations, net of tax
Less: Tax effect— — Income from discontinued operations, net of tax
$(126)$— Net of tax
Pension and OPEB items
Amortization of net losses and prior service costs or credits$3 $2 Other (income) expense, net
Pension settlement from Kidney Care separation14 — Income from discontinued operations, net of tax
17 2 Total before tax
Less: Tax effect(1)(1)Income tax expense
Less: Tax effect on pension settlement from Kidney Care separation(3)— Income from discontinued operations, net of tax
$13 $1 Net of tax
Gains (losses) on hedging activities
Foreign exchange contracts$(1)$2 Cost of sales
Interest rate contracts4 (1)Interest expense, net
Fair value hedges— (3)Other (income) expense, net
3 (2)Total before tax
Less: Tax effect(1)— Income tax expense
$2 $(2)Net of tax
Total reclassifications for the period$(111)$(1)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