v3.22.2.2
Accumulated Other Comprehensive Loss (Tables)
 9 Months Ended
Sep. 30, 2022
Equity [Abstract]  
Changes in Accumulated Other Comprehensive Loss by Component

The following tables reconcile changes in AOCL by component (net of tax, dollars in millions):

 

 

 

Three months ended

 

 

 

Pension
and OPEB
liability
adjustments

 

 

Interest
rate swaps

 

 

Foreign
currency
items

 

 

Total

 

AOCL as of June 30, 2021

 

$

(23

)

 

$

(34

)

 

$

(26

)

 

$

(83

)

Other comprehensive loss before reclassifications

 

 

—

 

 

 

—

 

 

 

(3

)

 

 

(3

)

Amounts reclassified from AOCL

 

 

(2

)

 

 

4

 

 

 

—

 

 

 

2

 

Income tax benefit (expense)

 

 

1

 

 

 

(2

)

 

 

—

 

 

 

(1

)

Net current period other comprehensive (loss) income

 

$

(1

)

 

$

2

 

 

$

(3

)

 

$

(2

)

AOCL as of September 30, 2021

 

$

(24

)

 

$

(32

)

 

$

(29

)

 

$

(85

)

AOCL as of June 30, 2022

 

$

(21

)

 

$

1

 

 

$

(40

)

 

$

(60

)

Other comprehensive income (loss) before reclassifications

 

 

—

 

 

 

16

 

 

 

(12

)

 

 

4

 

Amounts reclassified from AOCL

 

 

(2

)

 

 

1

 

 

 

—

 

 

 

(1

)

Income tax expense

 

 

—

 

 

 

(4

)

 

 

—

 

 

 

(4

)

Net current period other comprehensive (loss) income

 

$

(2

)

 

$

13

 

 

$

(12

)

 

$

(1

)

AOCL as of September 30, 2022

 

$

(23

)

 

$

14

 

 

$

(52

)

 

$

(61

)

 

 

 

Nine months ended

 

 

 

Pension
and OPEB
liability
adjustments

 

 

Interest
rate swaps

 

 

Foreign
currency
items

 

 

Total

 

AOCL as of December 31, 2020

 

$

(19

)

 

$

(46

)

 

$

(24

)

 

$

(89

)

Other comprehensive income (loss) before reclassifications

 

 

—

 

 

 

8

 

 

 

(5

)

 

 

3

 

Amounts reclassified from AOCL

 

 

(7

)

 

 

11

 

 

 

—

 

 

 

4

 

Income tax benefit (expense)

 

 

2

 

 

 

(5

)

 

 

—

 

 

 

(3

)

Net current period other comprehensive (loss) income

 

$

(5

)

 

$

14

 

 

$

(5

)

 

$

4

 

AOCL as of September 30, 2021

 

$

(24

)

 

$

(32

)

 

$

(29

)

 

$

(85

)

AOCL as of December 31, 2021

 

$

(17

)

 

$

(24

)

 

$

(32

)

 

$

(73

)

Other comprehensive income (loss) before reclassifications

 

 

—

 

 

 

43

 

 

 

(20

)

 

 

23

 

Amounts reclassified from AOCL

 

 

(7

)

 

 

7

 

 

 

—

 

 

 

—

 

Income tax benefit (expense)

 

 

1

 

 

 

(12

)

 

 

—

 

 

 

(11

)

Net current period other comprehensive (loss) income

 

$

(6

)

 

$

38

 

 

$

(20

)

 

$

12

 

AOCL as of September 30, 2022

 

$

(23

)

 

$

14

 

 

$

(52

)

 

$

(61

)

 
Reclassification out of Accumulated Other Comprehensive Loss

 

 

Amounts reclassified from AOCL

 

 

 

AOCL Components

 

Three months ended
September 30, 2022

 

 

Three months ended
September 30, 2021

 

 

Affected line item in the Condensed
Consolidated Statements of
Comprehensive Income

Interest rate swaps

 

$

(1

)

 

$

(4

)

 

Interest expense, net

Prior service cost

 

 

3

 

 

 

3

 

 

Other (expense) income, net

Recognized actuarial loss

 

 

(1

)

 

 

(1

)

 

Other (expense) income, net

Total reclassifications, before tax

 

$

1

 

 

$

(2

)

 

Income before income taxes

Income tax benefit

 

 

—

 

 

 

1

 

 

Income tax expense

Total reclassifications, net of tax

 

$

1

 

 

$

(1

)

 

 

 

 

 

Amounts reclassified from AOCL

 

 

 

AOCL Components

 

Nine months ended
September 30, 2022

 

 

Nine months ended
September 30, 2021

 

 

Affected line item in the Condensed
Consolidated Statements of
Comprehensive Income

Interest rate swaps

 

$

(7

)

 

$

(11

)

 

Interest expense, net

Prior service cost

 

 

8

 

 

 

8

 

 

Other (expense) income, net

Recognized actuarial loss

 

 

(1

)

 

 

(1

)

 

Other (expense) income, net

Total reclassifications, before tax

 

$

—

 

 

$

(4

)

 

Income before income taxes

Income tax benefit

 

 

—

 

 

 

1

 

 

Income tax expense

Total reclassifications, net of tax

 

$

—

 

 

$

(3

)