Other Comprehensive Income (Loss) (Tables)

9 Months Ended

Sep. 30, 2021

Equity [Abstract]

Schedule of Accumulated 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 months ended September 30, 2021 and 2020, 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, 2021	$	(4,102)	$	(1,051)	$	(5,153)
Other comprehensive income (loss) before reclassifications	115		(346)		(231)
Amounts reclassified from accumulated other comprehensive income	39		—		39
Net current period other comprehensive income (loss)	154		(346)		(192)
Balance as of September 30, 2021	$	(3,948)	$	(1,397)	$	(5,345)

(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 December 31, 2020	$	(4,126)	$	(984)	$	(5,110)
Other comprehensive income (loss) before reclassifications	63		(413)		(350)
Amounts reclassified from accumulated other comprehensive income	115		—		115
Net current period other comprehensive income (loss)	178		(413)		(235)
Balance as of September 30, 2021	$	(3,948)	$	(1,397)	$	(5,345)

(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)

Schedule of Components of Comprehensive Income (Loss)

The components of other comprehensive income (loss) for the three and nine month periods ended September 30, 2021 and 2020 are as follows:

Three Months Ended September 30,	2021						2020
(In millions)	Pre-Tax		Tax (Credit)		Net of Tax		Pre-Tax		Tax (Credit)		Net of Tax
Foreign currency translation adjustments	$	(346)	$	—	$	(346)	$	500	$	3	$	497
Pension/post-retirement plans:
Amortization of gains included in net periodic pension cost:
Net actuarial losses (a)	52		13		39		40		9		31
Subtotal	52		13		39		40		9		31
Foreign currency translation adjustments	88		21		67		(113)		(19)		(94)
Effect of remeasurement	64		16		48		—		—		—
Pension/post-retirement plans gains (losses)	204		50		154		(73)		(10)		(63)
Other comprehensive (loss) income	$	(142)	$	50	$	(192)	$	427	$	(7)	$	434
(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,	2021						2020
(In millions)	Pre-Tax		Tax (Credit)		Net of Tax		Pre-Tax		Tax (Credit)		Net of Tax
Foreign currency translation adjustments	$	(413)	$	—	$	(413)	$	(200)	$	(4)	$	(196)
Pension/post-retirement plans:
Amortization of (gains) losses included in net periodic pension cost:
Prior service credits (a)	(1)		—		(1)		(1)		—		(1)
Net actuarial losses (a)	156		40		116		120		28		92
Subtotal	155		40		115		119		28		91
Foreign currency translation adjustments	7		1		6		17		5		12
Other adjustments	(7)		(2)		(5)		—		—		—
Effect of remeasurement	77		17		60		—		—		—
Effect of settlement	2		—		2		—		—		—
Pension/post-retirement plans gains	234		56		178		136		33		103
Other comprehensive (loss) income	$	(179)	$	56	$	(235)	$	(64)	$	29	$	(93)
(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.