| SHAREHOLDERS' EQUITY |
SHAREHOLDERS' EQUITY ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) – NET.
Changes in AOCI by component were as follows. | | | | | | | | | | | | | | | | For the three months ended June 30, 2025 | | Currency translation adjustments(1) | Pension and Other Postretirement Plans | Cash flow hedges | Total AOCI | | March 31, 2025 | $ | (1,717) | | $ | 507 | | $ | 10 | | $ | (1,199) | | Other comprehensive income (loss) before reclassifications – net of taxes of $44, $11, and $10 | 221 | | (38) | | (37) | | 146 | | Reclassifications from AOCI – net of taxes(2) of $—, $12, and $1 | — | | (41) | | 4 | | (37) | | Other comprehensive income (loss) | 221 | | (79) | | (33) | | 108 | | Less: Other comprehensive income (loss) attributable to noncontrolling interests | — | | — | | — | | — | | | June 30, 2025 | $ | (1,495) | | $ | 428 | | $ | (23) | | $ | (1,090) | |
| | | | | | | | | | | | | | | | For the three months ended June 30, 2024 | | Currency translation adjustments(1) | Pension and Other Postretirement Plans | Cash flow hedges | Total AOCI | | March 31, 2024 | $ | (1,781) | | $ | 997 | | $ | (2) | | $ | (787) | | Other comprehensive income (loss) before reclassifications – net of taxes of $(6), $—, and $(2) | (30) | | (1) | | 9 | | (23) | | Reclassifications from AOCI – net of taxes(2) of $—, $10, and $— | — | | (35) | | — | | (36) | | | Other comprehensive income (loss) | (30) | | (36) | | 8 | | (58) | | | Less: Other comprehensive income (loss) attributable to noncontrolling interests | — | | — | | — | | — | | | June 30, 2024 | $ | (1,812) | | $ | 961 | | $ | 6 | | $ | (845) | |
| | | | | | | | | | | | | | | | For the six months ended June 30, 2025 | | Currency translation adjustments(1) | Pension and Other Postretirement Plans | Cash flow hedges | Total AOCI | | December 31, 2024 | $ | (1,973) | | $ | 576 | | $ | 18 | | $ | (1,379) | | Other comprehensive income (loss) before reclassifications – net of taxes of $59, $16, and $14 | 415 | | (58) | | (48) | | 308 | | Reclassifications from AOCI – net of taxes(2)(3) of $—, $28, and $— | 63 | | (90) | | 7 | | (20) | | | Other comprehensive income (loss) | 478 | | (148) | | (41) | | 288 | | | Less: Other comprehensive income (loss) attributable to noncontrolling interests | — | | — | | — | | — | | | June 30, 2025 | $ | (1,495) | | $ | 428 | | $ | (23) | | $ | (1,090) | |
| | | | | | | | | | | | | | | | For the six months ended June 30, 2024 | | Currency translation adjustments(1) | Pension and Other Postretirement Plans | Cash flow hedges | Total AOCI | | December 31, 2023 | $ | (1,706) | | $ | 1,033 | | $ | (18) | | $ | (691) | | Other comprehensive income (loss) before reclassifications – net of taxes of $(14), $(1), and $(7) | (106) | | 1 | | 24 | | (81) | | Reclassifications from AOCI – net of taxes(2) of $—, $22, and $— | — | | (73) | | — | | (73) | | Other comprehensive income (loss) | (106) | | (71) | | 24 | | (154) | | | Less: Other comprehensive income (loss) attributable to noncontrolling interests | — | | — | | — | | — | | | June 30, 2024 | $ | (1,812) | | $ | 961 | | $ | 6 | | $ | (845) | |
(1) The amount of Currency translation adjustments recognized in Other comprehensive income (loss) (“OCI”) during the three and six months ended June 30, 2025 and 2024 included net gains (losses) relating to net investment hedges, as further discussed in Note 12, “Financial Instruments and Fair Value Measurements.” (2) Reclassifications from AOCI into earnings for Pension and Other Postretirement Plans are recognized within Non-operating benefit (income) costs, while Cash flow hedges are recognized within Cost of products and Cost of services in our Condensed Consolidated Statements of Income. (3) Includes net of tax impact of $63 million of gains to Currency translation adjustments and $8 million of losses to Pension and Other Postretirement Plans related to the derecognition of the prior NMP equity method investment. Refer to Note 7, “Acquisitions, Goodwill, and Other Intangible Assets” for additional information on the NMP acquisition.
SHARE REPURCHASES.
On April 30, 2025, our Board of Directors authorized a share repurchase program (the “repurchase program”) for up to $1,000 million of our common stock. The repurchase program does not have an expiration date, does not obligate the Company to acquire any particular amount of common stock, and may be suspended or terminated at any time at the Company's discretion. During the three months ended June 30, 2025, we repurchased 1.4 million shares under the repurchase program for total consideration of approximately $100 million.
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