Accumulated Other Comprehensive Income (Loss)

6 Months Ended

Jun. 30, 2025

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

Accumulated Other Comprehensive Income (Loss)

A summary of the changes in each component of Accumulated other comprehensive income (loss), net of tax, for the quarters and six months ended June 30, 2025 and 2024 is provided below:


(dollars in millions)	Foreign Currency Translation		Defined Benefit Pension and Postretirement Plans		Unrealized Hedging Gains (Losses)		Accumulated Other Comprehensive Income (Loss)
Quarter Ended June 30, 2025
Balance as of March 31, 2025	$	(799)	$	(75)	$	3	$	(871)
Other comprehensive income (loss) before reclassifications, net	(178)		—		(8)		(186)

Amounts reclassified, pre-tax	—		—		2		2
Tax benefit reclassified	—		—		(1)		(1)
Balance as of June 30, 2025	$	(977)	$	(75)	$	(4)	$	(1,056)

Six Months Ended June 30, 2025
Balance as of December 31, 2024	$	(672)	$	(76)	$	3	$	(745)
Other comprehensive income (loss) before reclassifications, net	(305)		—		(9)		(314)
Amounts reclassified, pre-tax	—		1		3		4
Tax benefit reclassified	—		—		(1)		(1)
Balance as of June 30, 2025	$	(977)	$	(75)	$	(4)	$	(1,056)


(dollars in millions)	Foreign Currency Translation		Defined Benefit Pension and Postretirement Plans		Unrealized Hedging Gains (Losses)		Accumulated Other Comprehensive Income (Loss)
Quarter Ended June 30, 2024
Balance as of March 31, 2024	$	(691)	$	(69)	$	4	$	(756)
Other comprehensive income (loss) before reclassifications, net	5		—		(14)		(9)

Amounts reclassified, pre-tax	—		—		14		14
Tax benefit reclassified	—		—		—		—
Balance as of June 30, 2024	$	(686)	$	(69)	$	4	$	(751)

Six Months Ended June 30, 2024
Balance as of December 31, 2023	$	(673)	$	(78)	$	1	$	(750)
Other comprehensive income (loss) before reclassifications, net	(13)		9		(12)		(16)

Amounts reclassified, pre-tax	—		—		15		15
Tax benefit reclassified	—		—		—		—
Balance as of June 30, 2024	$	(686)	$	(69)	$	4	$	(751)

Amounts reclassified that relate to defined benefit pension and postretirement plans include amortization of prior service costs and actuarial net losses recognized during each period presented. These costs are recorded as components of net periodic pension cost for each period presented. See Note 8, "Employee Benefit Plans" for additional information.