Other Comprehensive Income (Loss)

6 Months Ended

Jun. 26, 2021


Note 11 :			Other Comprehensive Income (Loss)

The changes in accumulated other comprehensive income (loss) by component and related tax effects in the first six months of 2021 were as follows:


(In Millions)	Unrealized Holding Gains (Losses) on Derivatives		Actuarial Valuation and Other Pension Expenses		Translation Adjustments and Other		Total
Balance as of December 26, 2020	$	731	$	(1,565)	$	83	$	(751)
Other comprehensive income (loss) before reclassifications	(285)		3		(32)		(314)
Amounts reclassified out of accumulated other comprehensive income (loss)	(161)		31		—		(130)
Tax effects	102		(9)		7		100
Other comprehensive income (loss)	(344)		25		(25)		(344)
Balance as of June 26, 2021	$	387	$	(1,540)	$	58	$	(1,095)

We estimate that we will reclassify approximately $115 million (before taxes) of net derivative gains included in accumulated other comprehensive income (loss) into earnings within the next 12 months.