Accumulated Other Comprehensive Income (Loss) (Tables)

9 Months Ended

Sep. 30, 2023

Schedule of Changes in Accumulated Other Comprehensive Income (Loss)

The following tables present changes in the accumulated balances for each component of other comprehensive (loss) income, including current period other comprehensive (loss) income and reclassifications out of accumulated other comprehensive loss:


(DOLLARS IN MILLIONS)	Foreign Currency Translation Adjustments		Gains (Losses) on Derivatives Qualifying as Hedges		Pension and Postretirement Liability Adjustment		Total
Accumulated other comprehensive (loss) income, net of tax, as of December 31, 2022	$	(2,066)	$	1	$	(133)	$	(2,198)
OCI before reclassifications	(175)		—		(2)		(177)
Reclassifications due to business divestitures	43		—		(1)		42
Amounts reclassified from AOCI	—		—		(3)		(3)
Net current period other comprehensive income (loss)	(132)		—		(6)		(138)
Accumulated other comprehensive (loss) income, net of tax, as of September 30, 2023	$	(2,198)	$	1	$	(139)	$	(2,336)


(DOLLARS IN MILLIONS)	Foreign Currency Translation Adjustments		Gains (Losses) on Derivatives Qualifying as Hedges		Pension and Postretirement Liability Adjustment		Total
Accumulated other comprehensive (loss) income, net of tax, as of December 31, 2021	$	(1,133)	$	1	$	(291)	$	(1,423)
OCI before reclassifications	(1,770)		—		(2)		(1,772)

Amounts reclassified from AOCI	—		—		8		8
Net current period other comprehensive income (loss)	(1,770)		—		6		(1,764)
Accumulated other comprehensive (loss) income, net of tax, as of September 30, 2022	$	(2,903)	$	1	$	(285)	$	(3,187)

Reclassifications of Accumulated Other Comprehensive Income to Consolidated Statement of Comprehensive Income

The following table provides details about reclassifications out of Accumulated other comprehensive loss to the Consolidated Statements of Income (Loss) and Comprehensive Loss:


	Nine Months Ended September 30,				Affected Line Item in the Consolidated Statements of Income (Loss) and Comprehensive Loss
(DOLLARS IN MILLIONS)	2023		2022






Gains (losses) on pension and postretirement liability adjustments

Prior service cost	$	4	$	5	(1)
Actuarial losses	—		(15)		(1)

Tax	(1)		2		Provision for income taxes
Total	$	3	$	(8)	Total, net of income taxes

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(1)The amortization of prior service cost and actuarial loss is included in the computation of net periodic benefit cost. Refer to Note 15 of the Company’s 2022 Form 10-K for additional information regarding net periodic benefit cost.