Accumulated Other Comprehensive Income (Loss) (Tables)

12 Months Ended

Dec. 31, 2023

Equity [Abstract]

Components of Accumulated Other Comprehensive Income, Net of Tax

The tables below present the components of the Company's AOCI, net of tax (in millions):

	Pension and Other Postretirement Liabilities			Investments and Other		Deferred Taxes (a)		Total
Balance at December 31, 2020	$	(1,102)		$	2	$	(39)	$	(1,139)
Change in value	239			(2)		(53)		184
Amounts reclassified to earnings	16		(b)	—		(3)		13
Balance at December 31, 2021	(847)			—		(95)		(942)
Change in value	1,474			(35)		(321)		1,118
Amounts reclassified to earnings	(1)		(b)	—		—		(1)
Balance at December 31, 2022	626			(35)		(416)		175
Change in value	(199)			31		38		(130)
Amounts reclassified to earnings	(138)		(b)	—		31		(107)
Balance at December 31, 2023	$	289		$	(4)	$	(347)	$	(62)
(a)Includes approximately $285 million of deferred income tax expense that will not be recognized in net income until the related pension and postretirement benefit obligations are fully extinguished. We consider all income sources, including other comprehensive income, in determining the amount of tax benefit allocated to results from operations. (b)This AOCI component is included in the computation of net periodic pension and other postretirement costs, specifically the following components: amortization of unrecognized (gain) loss, amortization of prior service credit and other. See Note 7 of this report for additional information on pensions and other postretirement liabilities.