| Other Comprehensive Income (Loss) |
Other Comprehensive Income (Loss) The changes, net of tax, in the balances of each component of Accumulated Other Comprehensive Income ("AOCI") for the three and nine-month periods ended September 30, 2020 and 2019, including amounts reclassified out of AOCI, are as follows: | | | | | | | | | | | | | | | | | | | | | (In millions) | | | Pension/Post-Retirement Plans Gains (Losses) | | Foreign Currency Translation Gains (Losses) | | Total Gains (Losses) | | Balance as of July 1, 2020 | | | $ | (3,346) | | | $ | (2,236) | | | $ | (5,582) | | | Other comprehensive (loss) income before reclassifications | | | (94) | | | 497 | | | 403 | | Amounts reclassified from accumulated other comprehensive income | | | 31 | | | — | | | 31 | | | Net current period other comprehensive (loss) income | | | (63) | | | 497 | | | 434 | | | Balance as of September 30, 2020 | | | $ | (3,409) | | | $ | (1,739) | | | $ | (5,148) | |
| | | | | | | | | | | | | | | | | | | | | (In millions) | | | Pension/Post-Retirement Plans Gains (Losses) | | Foreign Currency Translation Gains (Losses) | | Total Gains (Losses) | | Balance as of July 1, 2019 | | | $ | (2,942) | | | $ | (1,585) | | | $ | (4,527) | | | Other comprehensive income (loss) before reclassifications | | | 56 | | | (475) | | | (419) | | Amounts reclassified from accumulated other comprehensive income | | | 15 | | | — | | | 15 | | | Net current period other comprehensive income (loss) | | | 71 | | | (475) | | | (404) | | | Balance as of September 30, 2019 | | | $ | (2,871) | | | $ | (2,060) | | | $ | (4,931) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | (In millions) | | | Pension/Post-Retirement Plans Gains (Losses) | | Foreign Currency Translation Gains (Losses) | | Total Gains (Losses) | | Balance as of December 31, 2019 | | | $ | (3,512) | | | $ | (1,543) | | | $ | (5,055) | | | | | | | | | | | Other comprehensive income (loss) before reclassifications | | | 12 | | | (196) | | | (184) | | Amounts reclassified from accumulated other comprehensive income | | | 91 | | | — | | | 91 | | | Net current period other comprehensive income (loss) | | | 103 | | | (196) | | | (93) | | | Balance as of September 30, 2020 | | | $ | (3,409) | | | $ | (1,739) | | | $ | (5,148) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | (In millions) | | | Pension/Post-Retirement Plans Gains (Losses) | | Foreign Currency Translation Gains (Losses) | | Total Gains (Losses) | | Balance as of December 31, 2018 | | | $ | (2,953) | | | $ | (1,694) | | | $ | (4,647) | | | | | | | | | | Other comprehensive income (loss) before reclassifications | | | 26 | | | (366) | | | (340) | | Amounts reclassified from accumulated other comprehensive income | | | 56 | | | — | | | 56 | | | Net current period other comprehensive income (loss) | | | 82 | | | (366) | | | (284) | | | Balance as of September 30, 2019 | | | $ | (2,871) | | | $ | (2,060) | | | $ | (4,931) | |
The components of other comprehensive income (loss) for the three and nine-month periods ended September 30, 2020 and 2019 are as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended September 30, | | 2020 | | 2019 | | (In millions) | | Pre-Tax | Tax (Credit) | Net of Tax | | Pre-Tax | Tax (Credit) | Net of Tax | | Foreign currency translation adjustments | | $ | 500 | | $ | 3 | | $ | 497 | | | $ | (475) | | $ | — | | $ | (475) | | | | | | | | | | | | Pension/post-retirement plans: | | | | | | | | | | Amortization of (gains) losses included in net periodic pension cost: | | | | | | | | | | Prior service credits (a) | | — | | — | | — | | | (1) | | (1) | | — | | | Net actuarial losses (a) | | 40 | | 9 | | 31 | | | 25 | | 6 | | 19 | | | Effect of remeasurement (a) | | — | | — | | — | | | (8) | | (2) | | (6) | | | | | | | | | | | | Effect of settlement (a) | | — | | — | | — | | | 2 | | — | | 2 | | | | | | | | | | | | Subtotal | | 40 | | 9 | | 31 | | | 18 | | 3 | | 15 | | | Foreign currency translation adjustments | | (113) | | (19) | | (94) | | | 64 | | 8 | | 56 | | | | | | | | | | | | Pension/post-retirement plans (losses) gains | | (73) | | (10) | | (63) | | | 82 | | 11 | | 71 | | | Other comprehensive income (loss) | | $ | 427 | | $ | (7) | | $ | 434 | | | $ | (393) | | $ | 11 | | $ | (404) | | | (a) Components of net periodic pension cost are included in other net benefit credits in the consolidated statements of income. Income tax expense on net actuarial losses are included in income tax expense. |
| | | | | | | | | | | | | | | | | | | | | | | | | Nine Months Ended September 30, | 2020 | | 2019 | | (In millions) | Pre-Tax | Tax (Credit) | Net of Tax | | Pre-Tax | Tax (Credit) | Net of Tax | | Foreign currency translation adjustments | $ | (200) | | $ | (4) | | $ | (196) | | | $ | (366) | | $ | — | | $ | (366) | | | | | | | | | | | Pension/post-retirement plans: | | | | | | | | | Amortization of (gains) losses included in net periodic pension cost: | | | | | | | | | Prior service credits (a) | (1) | | — | | (1) | | | (2) | | (1) | | (1) | | | Net actuarial losses (a) | 120 | | 28 | | 92 | | | 77 | | 18 | | 59 | | | Effect of remeasurement (a) | — | | — | | — | | | (9) | | (2) | | (7) | | | | | | | | | | | Effect of settlement (a) | — | | — | | — | | | 6 | | 1 | | 5 | | | Subtotal | 119 | | 28 | | 91 | | | 72 | | 16 | | 56 | | | | | | | | | | | Foreign currency translation adjustments | 17 | | 5 | | 12 | | | 30 | | 4 | | 26 | | | | | | | | | | | Pension/post-retirement plans gains | 136 | | 33 | | 103 | | | 102 | | 20 | | 82 | | | Other comprehensive income (loss) | $ | (64) | | $ | 29 | | $ | (93) | | | $ | (264) | | $ | 20 | | $ | (284) | | | (a) Components of net periodic pension cost are included in other net benefit credits in the consolidated statements of income. Income tax expense on net actuarial losses are included in income tax expense. |
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