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ACCUMULATED OTHER COMPREHENSIVE LOSS | 6 Months Ended
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Jun. 30, 2024
Equity [Abstract] |
ACCUMULATED OTHER COMPREHENSIVE LOSS | ACCUMULATED OTHER COMPREHENSIVE LOSS Comprehensive income presents a measure of all changes in shareholders' equity except for changes resulting from transactions with shareholders in their capacity as shareholders. The following summary sets forth the change in each component of Accumulated other comprehensive loss, net of tax (AOCI):
(In millions) |  | Currency Translation Adjustments |  | Net Actuarial (Loss) Gain and Prior Service Costs |  | Unrealized Gain (Loss) from Cash Flow Hedges |  |  |  |  |  | Accumulated Other Comprehensive (Loss) Gain
January 1, 2024 |  | $ | (18) |  |  | $ | (637) |  |  | $ | — |  |  |  |  |  |  | $ | (655) |
Other comprehensive (loss) gain, net of tax, before reclassifications |  | (30) |  |  | — |  |  | 5 |  |  |  |  |  |  | (25) |
Amounts reclassified from AOCI, net of tax |  | — |  |  | 12 |  |  | (3) |  |  |  |  |  |  | 9 |
Net current-period other comprehensive gain (loss), net of tax |  | (30) |  |  | 12 |  |  | 2 |  |  |  |  |  |  | (16) |
June 30, 2024 |  | $ | (48) |  |  | $ | (625) |  |  | $ | 2 |  |  |  |  |  |  | $ | (671) |
(In millions) |  | Currency Translation Adjustments |  | Net Actuarial (Loss) Gain and Prior Service Costs |  | Unrealized (Loss) Gain from Cash Flow Hedges |  |  |  |  |  | Accumulated Other Comprehensive (Loss) Gain
January 1, 2023 |  | $ | (238) |  |  | $ | (566) |  |  | $ | 8 |  |  |  |  |  |  | $ | (796) |
Other comprehensive gain, net of tax, before reclassifications |  | 35 |  |  | — |  |  | 1 |  |  |  |  |  |  | 36 |
Amounts reclassified from AOCI, net of tax |  | 183 |  |  | 10 |  |  | (3) |  |  |  |  |  |  | 190 |
Net current-period other comprehensive gain (loss), net of tax |  | 218 |  |  | 10 |  |  | (2) |  |  |  |  |  |  | 226 |
June 30, 2023 |  | $ | (20) |  |  | $ | (556) |  |  | $ | 6 |  |  |  |  |  |  | $ | (570) |
In the second quarter of 2023, we recognized a non-cash, cumulative currency translation adjustment loss of $183 million as a result of the FMS United Kingdom (U.K.) business exit, which is included in "Currency translation adjustment loss" in our Condensed Consolidated Statements of Earnings. The cumulative currency translation adjustment loss had no impact on our consolidated financial position or cash flows.

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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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