Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Changes in Balance of Accumulated Other Comprehensive Loss, Net of Income Taxes

Changes in the balance of AOCL, net of taxes, consisted of the following (in millions):


	Postretirement Benefit Plans (a)		Other, net		AOCL
Balance at December 31, 2020	$	(16,155)	$	34	$	(16,121)
Other comprehensive income (loss) before reclassifications	3,404		(85)		3,319
Amounts reclassified from AOCL
Pension settlement charge (b)	1,310		—		1,310
Recognition of net actuarial losses	733		—		733
Amortization of net prior service credits	(256)		—		(256)
Other	—		9		9
Total reclassified from AOCL	1,787		9		1,796
Total other comprehensive income (loss)	5,191		(76)		5,115

Balance at December 31, 2021	(10,964)		(42)		(11,006)
Other comprehensive income (loss) before reclassifications	1,873		(159)		1,714
Amounts reclassified from AOCL
Pension settlement charge (b)	1,156		—		1,156
Recognition of net actuarial losses	337		—		337
Amortization of net prior service credits	(268)		—		(268)
Other	—		44		44
Total reclassified from AOCL	1,225		44		1,269
Total other comprehensive income (loss)	3,098		(115)		2,983
Balance at December 31, 2022	(7,866)		(157)		(8,023)
Other comprehensive (loss) income before reclassifications	(689)		23		(666)
Amounts reclassified from AOCL
Recognition of net actuarial losses	116		—		116
Amortization of net prior service credits	(265)		—		(265)
Other	—		35		35
Total reclassified from AOCL	(149)		35		(114)
Total other comprehensive (loss) income	(838)		58		(780)
Balance at December 31, 2023	$	(8,704)	$	(99)	$	(8,803)

(a)AOCL related to postretirement benefit plans is shown net of tax benefits of $2.3 billion at December 31, 2023, $2.1 billion at December 31, 2022 and $3.0 billion at December 31, 2021. These tax benefits include amounts recognized on our income tax returns as current deductions and deferred income taxes, which will be recognized on our tax returns in future years. See “Note 9 – Income Taxes” and “Note 11 – Postretirement Benefit Plans” for more information on our income taxes and postretirement benefit plans.

(b)During 2022 and 2021, we recognized a noncash, non-operating pension settlement charge of $1.5 billion ($1.2 billion, or $4.33 per share, after-tax) and $1.7 billion ($1.3 billion, $4.72 per share, after-tax) related to the accelerated recognition of actuarial losses included in AOCL for certain defined benefit pension plans that purchased a group annuity contract from an insurance company (see “Note 11 – Postretirement Benefit Plans”).