Accumulated Other Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 2023

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

Accumulated Other Comprehensive Income (Loss)

Accumulated Other Comprehensive Income (Loss)

The components of the changes in accumulated other comprehensive income (loss), net of income taxes, are as follows:

(in millions)	Cumulative Foreign Currency Translation Adjustments		Net Actuarial Gains (Losses) and Prior Service (Costs) and Credits		Cumulative Gains (Losses) on Derivative Instruments Designated as Cash Flow Hedges		Total
Balance at December 31, 2021	$	(5,839)	$	(2,670)	$	135	$	(8,374)
Other comprehensive income (loss) before reclassifications	(894)		1,007		199		312
(Income) loss amounts reclassified from accumulated other comprehensive income (a)	—		170		(159)		11
Net current period other comprehensive income (loss)	(894)		1,177		40		323
Balance at December 31, 2022	(6,733)		(1,493)		175		(8,051)
Other comprehensive income (loss) before reclassifications	212		127		5		344
(Income) loss amounts reclassified from accumulated other comprehensive income (a)	17		(10)		(139)		(132)
Net current period other comprehensive income (loss)	229		117		(134)		212
Balance at December 31, 2023	$	(6,504)	$	(1,376)	$	41	$	(7,839)

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(a) (Income) loss amounts reclassified from accumulated other comprehensive income related to cash flow hedges are recorded as Cost of products sold. Net actuarial losses and prior service cost is included as a component of net periodic benefit cost – see Note 14 for additional information.