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Consolidated Statement of Comprehensive Income - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Net Income $ 1,597 $ 1,325 $ 1,575
Translation adjustments and gains (losses) arising during the year 18 (84) (24)
Translation reclassifications of adjustments and (gains) losses into Net Income 71 0 0
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, before Tax 89 (84) (24)
Translation adjustments tax (expense) benefit 0 0 0
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax 89 (84) (24)
Pension Unrealized gains (losses) arising during the year (12) (115) 65
Pension reclassification of (gains) losses into Net Income 1 34 16
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Unrealized Gains (Losses), before Tax (11) (81) 81
Pension and post-retirement benefit plans (tax impact) 1 21 (19)
Pension and post-retirement benefit plans (net of tax impact) (10) (60) 62
Cash Flow Hedge unrealized gains (losses) arising during the year 14 115 34
Cash Flow Hedge Reclassification of (gains) losses into Net Income (30) 18 28
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, before Tax (16) 133 62
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Tax 4 (33) (14)
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax (12) 100 48
Other Comprehensive Income (Loss), Net of Tax 67 (44) 86
Comprehensive Income $ 1,664 $ 1,281 $ 1,661