Accumulated Other Comprehensive Loss

3 Months Ended

Mar. 31, 2024

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

Accumulated Other Comprehensive Loss

Accumulated Other Comprehensive Loss

Information Relating to 2024

The table below summarizes changes in accumulated other comprehensive loss recorded on our consolidated balance sheet by component for the three months ended March 31, 2024:

	Pension Plans		Post-Retirement Benefit Plans	Foreign Currency Translation Adjustment and Other	Total
	(Dollars in millions)
Balance at December 31, 2023	$	(1,045)	276	(41)	(810)
Other comprehensive income (loss) before reclassifications	—		—	(4)	(4)
Amounts reclassified from accumulated other comprehensive loss	20		(5)	—	15
Net current-period other comprehensive income (loss)	20		(5)	(4)	11
Balance at March 31, 2024	$	(1,025)	271	(45)	(799)

The table below presents further information about our reclassifications out of accumulated other comprehensive loss by component for the three months ended March 31, 2024:

Three Months Ended March 31, 2024	Decrease (Increase) in Net Income		Affected Line Item in Consolidated Statement of Operations
	(Dollars in millions)
Amortization of pension & post-retirement plans(1)
Net actuarial loss	$	24	Other income (expense), net
Prior service credit	(4)		Other income (expense), net
Total before tax	20
Income tax benefit	(5)		Income tax expense
Net of tax	$	15

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(1)See Note 7—Employee Benefits for additional information on our net periodic benefit expense (income) related to our pension and post-retirement plans.

Information Relating to 2023

The table below summarizes changes in accumulated other comprehensive loss recorded on our consolidated balance sheets by component for the three months ended March 31, 2023:

	Pension Plans		Post-Retirement Benefit Plans	Foreign Currency Translation Adjustment and Other	Total
	(Dollars in millions)
Balance at December 31, 2022	$	(985)	308	(422)	(1,099)
Other comprehensive income (loss) before reclassifications	—		—	18	18
Amounts reclassified from accumulated other comprehensive loss	17		(5)	—	12
Net current-period other comprehensive income (loss)	17		(5)	18	30
Balance at March 31, 2023	$	(968)	303	(404)	(1,069)

The table below presents further information about our reclassifications out of accumulated other comprehensive loss by component for the three months ended March 31, 2023:

Three Months Ended March 31, 2023	Decrease (Increase) in Net Income		Affected Line Item in Consolidated Statement of Operations
	(Dollars in millions)
Amortization of pension & post-retirement plans(1)
Net actuarial loss	$	20	Other income (expense), net
Prior service cost	(4)		Other income (expense), net
Total before tax	16
Income tax benefit	(4)		Income tax expense
Net of tax	$	12

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(1)See Note 7—Employee Benefits for additional information on our net periodic benefit income related to our pension and post-retirement plans.