Other Comprehensive Income (Loss)

6 Months Ended

Jul. 01, 2023


Note :			Other Comprehensive Income (Loss)

The changes in accumulated other comprehensive income (loss) by component and related tax effects in the first six 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	(191)		—		5		(186)
Amounts reclassified out of accumulated other comprehensive income (loss)	218		3		—		221
Tax effects	(16)		—		(1)		(17)
Other comprehensive income (loss)	11		3		4		18
Balance as of July 1, 2023	$	(288)	$	(256)	$	—	$	(544)

We estimate that we will reclassify approximately $110 million (before taxes) of net derivative losses from accumulated other comprehensive income (loss) into earnings within the next 12 months.