Accumulated Other Comprehensive Loss

9 Months Ended

Sep. 30, 2023

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

Accumulated Other Comprehensive Income (Loss)

Note 16: Accumulated Other Comprehensive Loss

A summary of the changes in each component of Accumulated other comprehensive loss, net of tax for the quarters and nine months ended September 30, 2023 and 2022 is provided below:

(dollars in millions)	Foreign Currency Translation		Defined Benefit Pension and Postretirement Plans		Unrealized Hedging Gains (Losses)		Accumulated Other Comprehensive Income (Loss)
Quarter Ended September 30, 2023
Balance at June 30, 2023	$	(476)	$	(1,035)	$	9	$	(1,502)
Other comprehensive income (loss) before reclassifications, net	(441)		37		(132)		(536)
Amounts reclassified, pre-tax	—		(141)		9		(132)
Tax benefit (expense)	(3)		33		24		54
Balance at September 30, 2023	$	(920)	$	(1,106)	$	(90)	$	(2,116)
Nine Months Ended September 30, 2023
Balance at December 31, 2022	$	(1,005)	$	(782)	$	(231)	$	(2,018)
Other comprehensive income (loss) before reclassifications, net	85		(7)		101		179
Amounts reclassified, pre-tax	—		(426)		73		(353)
Tax benefit (expense)	—		109		(33)		76
Balance at September 30, 2023	$	(920)	$	(1,106)	$	(90)	$	(2,116)

(dollars in millions)	Foreign Currency Translation		Defined Benefit Pension and Postretirement Plans		Unrealized Hedging Gains (Losses)		Accumulated Other Comprehensive Income (Loss)
Quarter Ended September 30, 2022
Balance at June 30, 2022	$	(908)	$	(1,772)	$	(251)	$	(2,931)
Other comprehensive income (loss) before reclassifications, net	(1,050)		15		(285)		(1,320)
Amounts reclassified, pre-tax	—		33		34		67
Tax benefit (expense)	4		(6)		64		62
Balance at September 30, 2022	$	(1,954)	$	(1,730)	$	(438)	$	(4,122)
Nine Months Ended September 30, 2022
Balance at December 31, 2021	$	49	$	(1,828)	$	(136)	$	(1,915)
Other comprehensive income (loss) before reclassifications, net	(2,000)		18		(453)		(2,435)
Amounts reclassified, pre-tax	2		98		57		157
Tax benefit (expense)	(5)		(18)		94		71
Balance at September 30, 2022	$	(1,954)	$	(1,730)	$	(438)	$	(4,122)