Changes in Other Comprehensive Income

12 Months Ended

Dec. 31, 2022

Other Comprehensive Income (Loss) Net of Tax, Period Change [Abstract]

Comprehensive Income (Loss) Note [Text Block]

NOTE O – CHANGES IN OTHER COMPREHENSIVE INCOME

The following table provides the reclassifications out of Other comprehensive income, net of tax:

(in millions)	Foreign Currency Translation Adjustments		Net Change in Derivative Financial Instruments		Net Change in Defined Benefit Pensions and Other Items		Total
Balance as of December 31, 2021	$	93	$	206	$	(36)	$	263
Other comprehensive income (loss) before reclassifications	(86)		214		36		163
(Income) loss amounts reclassified from accumulated other comprehensive income	(8)		(150)		1		(157)
Total other comprehensive income (loss)	(94)		63		37		6
Balance as of December 31, 2022	$	(1)	$	269	$	1	$	269

(in millions)	Foreign Currency Translation Adjustments		Net Change in Derivative Financial Instruments		Net Change in Defined Benefit Pensions and Other Items		Total
Balance as of December 31, 2020	$	218	$	36	$	(47)	$	207
Other comprehensive income (loss) before reclassifications	12		208		8		228
(Income) loss amounts reclassified from accumulated other comprehensive income	(137)		(38)		3		(173)
Total other comprehensive income (loss)	(125)		170		11		56
Balance as of December 31, 2021	$	93	$	206	$	(36)	$	263

Refer to Note D – Hedging Activities and Fair Value Measurements for further detail on our net investment hedges recorded in Foreign currency translation adjustments and our cash flow hedges recorded in Net change in derivative financial instruments.

The gains and losses on defined benefit and pension items before reclassifications and gains and losses on defined benefit and pension items reclassified from Accumulated other comprehensive income (loss), net of tax were reduced by immaterial income tax impacts in 2022 and in 2021.