v3.22.4
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)
 12 Months Ended
Dec. 31, 2022
Equity [Abstract]  
Summary of Changes in AOCI by Component
The following table is a net-of-tax summary of the changes in AOCI by component for the years ended December 31, 2022 and 2021.
(in millions)CTAPension and OPEB plansHedging
activities		Available-for-sale debt securitiesTotal
Gains (losses)
Balance as of December 31, 2021$(2,907)$(347)$(126)$— $(3,380)
Other comprehensive income (loss) before reclassifications(544)(9)22 3 (528)
Amounts reclassified from AOCI (a)65 25 (15)— 75 
Net other comprehensive income (loss)(479)16 7 3 (453)
Balance as of December 31, 2022$(3,386)$(331)$(119)$3 $(3,833)
(in millions)CTAPension and OPEB plansHedging
activities		Total
Gains (losses)
Balance as of December 31, 2020$(2,587)$(574)$(153)$(3,314)
Other comprehensive income (loss) before reclassifications(320)160 4 (156)
Amounts reclassified from AOCI (a)— 67 23 90 
Net other comprehensive income (loss)(320)227 27 (66)
Balance as of December 31, 2021$(2,907)$(347)$(126)$(3,380)
(a)    See table below for details about these reclassifications.
Summary of Reclassification from AOCI to Net Income
The following table is a summary of the amounts reclassified from AOCI to net income (loss) during the years ended December 31, 2022 and 2021.
Amounts reclassified from
AOCI (a)
(in millions)20222021Location of impact
in income statement
CTA
Reclassification of cumulative translation loss to earnings$(65)$— Other (income) expense, net
(65)— 
Less: Tax effect— — Income tax expense (benefit)
$(65)$— 
Pension and OPEB items
Amortization of net losses and prior service costs or credits$(30)$(82)Other (income) expense, net
Settlement charges(1)(2)Other (income) expense, net
(31)(84)Total before tax
Less: Tax effect6 17 Income tax expense (benefit)
$(25)$(67)Net of tax
Gains (losses) on hedging activities 
Foreign exchange contracts$26 $(23)Cost of sales
Interest rate contracts(6)(6)Interest expense, net
20 (29)Total before tax
Less: Tax effect(5)6 Income tax expense (benefit)
$15 $(23)Net of tax
Total reclassifications for the period$(75)$(90)Total net of tax
(a)Amounts in parentheses indicate reductions to net income.