Other Comprehensive Income (Loss)

3 Months Ended

Mar. 31, 2022

Equity [Abstract]

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 months ended March 31, 2022 and 2021, 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 December 31, 2021	$	(3,202)	$	(1,373)	$	(4,575)
Other comprehensive income (loss) before reclassifications	35		(169)		(134)
Amounts reclassified from accumulated other comprehensive income	30		—		30
Net current period other comprehensive income (loss)	65		(169)		(104)
Balance as of March 31, 2022	$	(3,137)	$	(1,542)	$	(4,679)

(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	(36)		(91)		(127)
Amounts reclassified from accumulated other comprehensive income	40		—		40
Net current period other comprehensive income (loss)	4		(91)		(87)
Balance as of March 31, 2021	$	(4,122)	$	(1,075)	$	(5,197)

The components of other comprehensive income (loss) for the three month periods ended March 31, 2022 and 2021 are as follows:

Three Months Ended March 31,	2022						2021
(In millions)	Pre-Tax		Tax (Credit)		Net of Tax		Pre-Tax		Tax (Credit)		Net of Tax
Foreign currency translation adjustments	$	(169)	$	—	$	(169)	$	(91)	$	—	$	(91)
Pension/post-retirement plans:
Amortization of gains included in net periodic pension cost:
Net actuarial losses(a)	39		9		30		52		12		40
Subtotal	39		9		30		52		12		40
Foreign currency translation adjustments	65		16		49		(37)		(8)		(29)
Other adjustments	(18)		(4)		(14)		(7)		(2)		(5)
Effect of re-measurement	—		—		—		(2)		—		(2)
Pension/post-retirement plans gains	86		21		65		6		2		4
Other comprehensive (loss) income	$	(83)	$	21	$	(104)	$	(85)	$	2	$	(87)
(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.