Stockholders Equity and Accumulated Other Comprehensive Loss (Tables)

12 Months Ended

Dec. 31, 2022

Stockholders' Equity and Accumulated Other Comprehensive Loss

Schedule of components of accumulated other comprehensive loss, net of related taxes

	Cumulative
	Foreign			Cumulative
	Currency			Unrecognized
	Translation			Pension
(Millions of dollars)	Adjustment			Cost			Total
Balance December 31, 2019	$	(369)		$	(71)		$	(440)
Other comprehensive loss before reclassifications		(7)			(38)			(45)
Amounts reclassified from AOCL to net earnings		—			14	(a)		14
Other comprehensive loss, net of tax		(7)			(24)			(31)
Balance December 31, 2020	$	(376)		$	(95)		$	(471)
Other comprehensive income before reclassifications		8			18			26
Amounts reclassified from AOCL to net earnings		—			13	(a)		13
Other comprehensive income, net of tax		8			31			39
Balance December 31, 2021	$	(368)		$	(64)		$	(432)
Other comprehensive income (loss) before reclassifications		(42)			38			(4)
Amounts reclassified from AOCL to net earnings		9	(b)		5	(a)		14
Other comprehensive income (loss), net of tax		(33)			43			10
Balance December 31, 2022	$	(401)		$	(21)		$	(422)

^(a)This primarily represents the amortization of actuarial losses (gains) that were included in net periodic pension cost. See Note 9 for further discussion.

^(b)  This reclassification adjustment primarily reflects the recognition of a currency translation adjustment upon the disposition of a CT&M business in Brazil whose functional currency was the Brazilian real. Upon management’s commitment to a plan to dispose, substantially all of this adjustment was previously recognized as an impairment in cost of sales for the year ended December 31, 2021.