Other Comprehensive (Loss) Income

3 Months Ended

Mar. 31, 2024

The changes, net of tax, in the balances of each component of AOCI for the three months ended March 31, 2024 and 2023, including amounts reclassified out of AOCI, are as follows:


(In millions)	Pension/Post-Retirement Plans Gains (Losses)		Foreign Currency Translation Adjustments		Total
Balance at January 1, 2024	$	(3,101)	$	(2,194)	$	(5,295)
Other comprehensive income (loss) before reclassifications	33		(251)		(218)
Amounts reclassified from accumulated other comprehensive income	4		—		4
Net current period other comprehensive income (loss)	37		(251)		(214)
Balance at March 31, 2024 (a)	$	(3,064)	$	(2,445)	$	(5,509)


(In millions)	Pension/Post-Retirement Plans Gains (Losses)		Foreign Currency Translation Adjustments		Total
Balance at January 1, 2023	$	(2,721)	$	(2,593)	$	(5,314)
Other comprehensive (loss) income before reclassifications	(48)		125		77
Amounts reclassified from accumulated other comprehensive income	3		—		3
Net current period other comprehensive (loss) income	(45)		125		80
Balance at March 31, 2023 (a)	$	(2,766)	$	(2,468)	$	(5,234)

(a)At March 31, 2024 and 2023, balances are net of deferred tax assets in pension and post-retirement plans gains (losses) of $1.5 billion and $1.4 billion, respectively.

The components of other comprehensive (loss) income for the three months ended March 31, 2024 and 2023 are as follows:


Three Months Ended March 31,	2024						2023
(In millions)	Pre-Tax		Tax		Net of Tax		Pre-Tax		Tax (Credit)		Net of Tax
Foreign currency translation adjustments	$	(244)	$	7	$	(251)	$	119	$	(6)	$	125

Pension/post-retirement plans:
Amortization of (gains) losses included in net benefit (credit) cost:

Net actuarial losses (a)	6		2		4		5		2		3
Subtotal	6		2		4		5		2		3
Foreign currency translation adjustments	44		11		33		(63)		(15)		(48)






Pension/post-retirement plans gains (losses)	50		13		37		(58)		(13)		(45)
Other comprehensive (loss) income	$	(194)	$	20	$	(214)	$	61	$	(19)	$	80

(a) 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.