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) | |
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