Comprehensive Income (Loss)

3 Months Ended

Mar. 31, 2021

Comprehensive Income (Loss) [Abstract]

(16) Comprehensive Income (Loss):

Comprehensive income (loss) consists of net income (loss) and other gains and losses affecting equity (deficit) and pension/postretirement benefit (OPEB) liabilities that, under GAAP, are excluded from net loss.

The components of accumulated other comprehensive income (loss), net of tax, and changes are as follows:


	Pension		OPEB
($ in millions)	Costs		Costs		Total

Balance at January 1, 2021 ⁽¹⁾	$	(699)	$	(56)	$	(755)
Other comprehensive income (loss)
before reclassifications		-		-		-
Amounts reclassified from accumulated other
comprehensive loss to net income		14		(3)		11
Net current-period other comprehensive
income (loss)		14		(3)		11
Balance at March 31, 2021 ⁽¹⁾	$	(685)	$	(59)	$	(744)


	Pension		OPEB
($ in millions)	Costs		Costs		Total

Balance at January 1, 2020 ⁽¹⁾	$	(684)	$	34	$	(650)
Other comprehensive income (loss)
before reclassifications		1		-		1
Amounts reclassified from accumulated other
comprehensive loss to net loss		90		(5)		85
Net current-period other comprehensive
income (loss)		91		(5)		86
Balance at March 31, 2020 ⁽¹⁾	$	(593)	$	29	$	(564)

⁽¹⁾Pension and OPEB amounts are net of tax of $234 million and $204 million as of January 1, 2021 and 2020, respectively and $230 million and $176 million as of March 31, 2021 and 2020, respectively.

The significant items reclassified from each component of accumulated other comprehensive loss are as follows:


	Amount Reclassified from
	Accumulated Other
	Comprehensive Loss ⁽¹⁾
($ in millions)					Affected Line Item in
	For the three months ended				the Statement Where
Details about Accumulated Other	March 31,				Net Income (Loss)
Comprehensive Loss Components	2021		2020		is Presented
Amortization of Pension Cost Items ⁽²⁾
Actuarial gains (losses)	$	(18)	$	(17)
Pension settlement costs		-		(103)
		(18)		(120)	Income (Loss) before income taxes
Tax impact		4		30	Income tax benefit
	$	(14)	$	(90)	Net income (loss)

Amortization of OPEB Cost Items ⁽²⁾
Prior-service costs	$	7	$	8
Actuarial gains (losses)		(3)		(2)
		4		6	Income (Loss) before income taxes
Tax impact		(1)		(1)	Income tax benefit
	$	3	$	5	Net income (loss)

⁽¹⁾ Amounts in parentheses indicate losses.

⁽²⁾ These accumulated other comprehensive loss components are included in the computation of net periodic pension and OPEB costs (see Note 17 - Retirement Plans for additional details).