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CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (unaudited) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Statement of comprehensive income [abstract]        
Net income $ 169 $ 148 $ 343 $ 316
Other comprehensive income to be eventually recycled into the Consolidated Income Statement:        
Currency translation effects, net of taxes [1] (18) (67) 9 (65)
Total of items to eventually recycle (18) (67) 9 (65)
Other comprehensive income never to be recycled into the Consolidated Income Statement:        
Actuarial gains/(losses) from defined benefit plans, net of taxes [2] 1 49 (7) 120
Fair value adjustments on equity securities, net of taxes [3] 1 0 2 1
Total of items never to be recycled 2 49 (5) 121
Total comprehensive income $ 153 $ 130 $ 347 $ 372
[1] Amount is net of tax benefit of $1 million for the three months ended June 30, 2023. Amount is net of tax expense of $1 million for the three months ended June 30, 2022. Amount is net of tax benefit of $1 million for the six months ended June 30, 2023. Amount is net of tax expense of $1 million for the six months ended June 30, 2022.
[2] Amounts are net of tax expense of $0.4 million and $13 million for the three months ended June 30 2023 and 2022, respectively. Amount is net of tax benefit of $2 million for the six months ended June 30, 2023. Amount is net of tax expense of $29 million for the six months ended June 30, 2022.
[3] Amounts are net of tax expense of $0.4 million and $0.1 million for the three months ended June 30, 2023 and 2022, respectively. Amounts are net of tax expense of $0.8 million and $0.3 million for the six months ended June 30, 2023 and 2022, respectively.