ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) ("AOCI")

9 Months Ended

Sep. 30, 2022

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) ("AOCI")

NOTE D— ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (“AOCI”)

The components of AOCI are summarized below:


(In millions)	Foreign currency translation		Net unrealized losses on hedging derivatives		Unrecognized postretirement obligations		Total AOCI

Balance at December 31, 2021	$	(118)	$	(89)	$	61	$	(146)


Other comprehensive (loss) before reclassifications to earnings, net of income taxes	(196)		(14)		—		(210)


Losses (gains) reclassified to earnings, net of income taxes(1)	—		5		(15)		(10)
Other comprehensive loss, net of income taxes	(196)		(9)		(15)		(220)
Balance at September 30, 2022	$	(314)	$	(98)	$	46	$	(366)

Balance at January 1, 2021	$	(58)	$	(80)	$	(701)	$	(839)


Other comprehensive (loss) income before reclassifications to earnings, net of income taxes(2)	(37)		—		574		537


Losses (gains) reclassified to earnings, net of income taxes(1)	1		(8)		6		(1)
Other comprehensive (loss) income, net of income taxes	(36)		(8)		580		536
Balance at October 1, 2021	$	(94)	$	(88)	$	(121)	$	(303)

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(1)Losses (gains) reclassified to earnings are included in the “Revenue from product sales and services,” “Business divestiture-related gains, net,” “Interest expense, net” and “Non-operating income, net” line items in our Condensed Consolidated Statement of Operations (Unaudited).

(2)Other comprehensive income before reclassifications to earnings, net of income taxes, for the quarter and three quarters ended October 1, 2021 includes remeasurement of funded status of pension plans after the purchases of group annuity policies. See Note L — Postretirement Benefit Plans in these Notes for further information.