Stockholders' Equity (Tables)

3 Months Ended

Mar. 31, 2024

Equity [Abstract]

Schedule of Noncontrolling Interests Represented by Preferred Stock [Table Text Block]

Shares in thousands	Number of Shares
Authorized	23,000
$4.50 Series, callable at $120	1,673
$3.50 Series, callable at $102	700

Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]

(In millions)	Cumulative Translation Adjustment1		Derivative Instruments		Pension Benefit Plans		Other Benefit Plans		Unrealized Gain (Loss) on Investments		Total
2023
Balance January 1, 2023	$	(2,883)	$	80	$	(163)	$	160	$	—	$	(2,806)
Other comprehensive income (loss) before reclassifications	134		(51)		3		—		—		86
Amounts reclassified from accumulated other comprehensive income (loss)	—		(16)		(1)		(2)		—		(19)
Net other comprehensive income (loss)	134		(67)		2		(2)		—		67
Balance March 31, 2023	$	(2,749)	$	13	$	(161)	$	158	$	—	$	(2,739)
2024
Balance January 1, 2024	$	(2,458)	$	(55)	$	(353)	$	189	$	—	$	(2,677)
Other comprehensive income (loss) before reclassifications	(304)		(17)		2		—		(22)		(341)
Amounts reclassified from accumulated other comprehensive income (loss)	—		11		(1)		(2)		—		8
Net other comprehensive income (loss)	(304)		(6)		1		(2)		(22)		(333)
Balance March 31, 2024	$	(2,762)	$	(61)	$	(352)	$	187	$	(22)	$	(3,010)

    

1.The cumulative translation adjustment loss for the three months ended March 31, 2024 was primarily driven by the strengthening of the USD against the Swiss Franc ("CHF"), European Euro ("EUR") and Brazilian Real ("BRL"). The cumulative translation adjustment gain for the three months ended March 31, 2023 was primarily driven by the weakening of the USD against the European Euro ("EUR"), Brazilian Real ("BRL"), Mexican Peso ("MXN") and Swiss Franc ("CHF").

Tax (Expense) Benefit of Other Comprehensive (Loss) Income

(In millions)	Three Months Ended March 31,
	2024		2023
Derivative instruments	$	1	$	27
Pension benefit plans - net	—		—
Other benefit plans - net	—		—
(Provision for) benefit from income taxes related to other comprehensive income (loss) items	$	1	$	27

Reclassification out of Accumulated Other Comprehensive (Loss) Income [Table Text Block]

(In millions)	Three Months Ended March 31,
	2024		2023
Derivative Instruments1:	$	16	$	(21)
Tax (benefit) expense2	(5)		5
After-tax	11		(16)
Amortization of pension benefit plans:
Prior service (benefit) cost3,4	(1)		(1)
Total before tax	(1)		(1)
Tax (benefit) expense2	—		—
After-tax	(1)		(1)
Amortization of other benefit plans:
Actuarial (gains) loss3,4	(3)		(2)
Total before tax	(3)		(2)
Tax (benefit) expense2	1		—
After-tax	(2)		(2)
Total reclassifications for the period, after-tax	$	8	$	(19)

1.Reflected in cost of goods sold in the interim Consolidated Statements of Operations.

2.Reflected in provision for (benefit from) income taxes from continuing operations in the interim Consolidated Statements of Operations.

3.These accumulated other comprehensive income (loss) components are included in the computation of net periodic benefit (credit) cost of the company's pension and other benefit plans. See Note 15 - Pension Plans and Other Post Employment Benefits, for additional information.

4.Reflected in other income (expense) - net in the interim Consolidated Statements of Operations.