Other Comprehensive Income (Loss)

3 Months Ended

Apr. 01, 2023


Note :			Other Comprehensive Income (Loss)

The changes in accumulated other comprehensive income (loss) by component and related tax effects in the first three months of 2023 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 31, 2022	$	(299)	$	(259)	$	(4)	$	(562)
Other comprehensive income (loss) before reclassifications	53		—		—		53
Amounts reclassified out of accumulated other comprehensive income (loss)	141		1		—		142
Tax effects	(52)		—		—		(52)
Other comprehensive income (loss)	142		1		—		143
Balance as of April 1, 2023	$	(157)	$	(258)	$	(4)	$	(419)

We estimate that we will reclassify approximately $97 million (before taxes) of net derivative losses from accumulated other comprehensive income (loss) into earnings within the next 12 months.