Accumulated Other Comprehensive Loss

6 Months Ended

Jun. 30, 2021

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Accumulated Other Comprehensive Income (Loss) Note [Text Block]

Accumulated Other Comprehensive Loss

A summary of the changes in each component of Accumulated other comprehensive loss, net of tax for the quarters and six months ended June 30, 2021 and 2020 is provided below:

(dollars in millions)	Foreign Currency Translation		Defined Benefit Pension and Post-retirement Plans		Unrealized Hedging (Losses) Gains		Accumulated Other Comprehensive Income (Loss)
Quarter Ended June 30, 2021
Balance at March 31, 2021	$	529	$	(4,441)	$	(9)	$	(3,921)
Other comprehensive income (loss) before reclassifications, net	258		(14)		108		352
Amounts reclassified, pre-tax	—		64		(20)		44
Tax benefit (expense)	2		(11)		(21)		(30)
Balance at June 30, 2021	$	789	$	(4,402)	$	58	$	(3,555)
Six Months Ended June 30, 2021
Balance at December 31, 2020	$	710	$	(4,483)	$	39	$	(3,734)
Other comprehensive income (loss) before reclassifications, net	82		(24)		62		120
Amounts reclassified, pre-tax	—		128		(34)		94
Tax benefit (expense)	(3)		(23)		(9)		(35)
Balance at June 30, 2021	$	789	$	(4,402)	$	58	$	(3,555)

(dollars in millions)	Foreign Currency Translation		Defined Benefit Pension and Post-retirement Plans		Unrealized Hedging (Losses) Gains		Accumulated Other Comprehensive Income (Loss)
Quarter Ended June 30, 2020
Balance at March 31, 2020	$	(4,647)	$	(6,693)	$	(448)	$	(11,788)
Other comprehensive income (loss) before reclassifications, net	665		(2,371)		188		(1,518)
Amounts reclassified, pre-tax	—		85		27		112
Tax benefit (expense)	3		568		(52)		519
Separation of Carrier and Otis, net of tax	3,287		584		4		3,875
Balance at June 30, 2020	$	(692)	$	(7,827)	$	(281)	$	(8,800)
Six Months Ended June 30, 2020
Balance at December 31, 2019	$	(3,211)	$	(6,772)	$	(166)	$	(10,149)
Other comprehensive income (loss) before reclassifications, net	(780)		(2,363)		(215)		(3,358)
Amounts reclassified, pre-tax	—		187		56		243
Tax benefit (expense)	12		537		40		589
Separation of Carrier and Otis, net of tax	3,287		584		4		3,875
Balance at June 30, 2020	$	(692)	$	(7,827)	$	(281)	$	(8,800)