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ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
 6 Months Ended
Jun. 30, 2025
Equity [Abstract]  
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
The Company's share of other comprehensive income (loss) includes net income plus other comprehensive income, which includes changes in fair value of certain derivatives designated as cash flow hedges, certain changes in pension and other retirement benefit plans, foreign currency translations gains and losses, changes in the fair value of available-for-sale securities, the Company's share of other comprehensive income (loss) of entities accounted for using the equity method, and reclassifications for amounts included in net income (loss) less net income (loss) and other comprehensive income (loss) attributable to the noncontrolling interest. For more information on derivative instruments, see "Note 17: Financial Instruments". For more information on pensions and retirement benefit obligations, see "Note 6: Employee Benefit Plans and Postretirement Benefits". The Company's other comprehensive income (loss) amounts are aggregated within accumulated other comprehensive income (loss). The tax effect for each component of other comprehensive income (loss) for the three and six months ended June 30, 2025 and 2024 consisted of the following (in millions of dollars):
Three Months Ended June 30, 2025Six Months Ended June 30, 2025
Gross
Amount		Income
Taxes		Net
Amount		Gross
Amount		Income
Taxes		Net
Amount
Unrealized gain (loss) on cash flow hedges$15 $1 $16 $4 $5 $9 
Changes in retirement plans' funded status(3)— (3)(6)1 (5)
Foreign currency translation(59)— (59)— — — 
Share of other comprehensive income (loss) of entities using the equity method18 — 18 28 — 28 
Other comprehensive income (loss)$(29)$1 $(28)$26 $6 $32 
Three Months Ended June 30, 2024Six Months Ended June 30, 2024
Gross
Amount		Income
Taxes		Net
Amount		Gross
Amount		Income
Taxes		Net
Amount
Unrealized gain (loss) on cash flow hedges$65 $(21)$44 $75 $(24)$51 
Changes in retirement plans' funded status(1)— (1)(2)1 (1)
Foreign currency translation(170)— (170)(220)— (220)
Share of other comprehensive income (loss) of entities using the equity method(14)— (14)(20)— (20)
Other comprehensive income (loss)$(120)$(21)$(141)$(167)$(23)$(190)
The changes, net of tax, in each component of accumulated other comprehensive income (loss) in the six months ended June 30, 2025 and 2024 consisted of the following (in millions of dollars):
Unrealized
Gain (Loss) on
Cash Flow
Hedges		Change in
Retirement Plans'
Funded Status		Foreign Currency
Translation		Share of Other
Comprehensive
Income (Loss) of
Entities Using
the Equity
Method		Total
Balance at December 31, 2024$72 $(348)$(2,170)$(266)$(2,712)
Other comprehensive income (loss), before reclassifications9 (5)(8)28 24 
Amounts reclassified from other comprehensive income1 — — — 1 
Other comprehensive income (loss)(1)
10 (5)(8)28 25 
Balance at June 30, 2025$82 $(353)$(2,178)$(238)$(2,687)
Balance at December 31, 2023$(10)$(351)$(1,763)$(238)$(2,362)
Other comprehensive income (loss), before reclassifications(2)
17 — (220)(20)(223)
Amounts reclassified from other comprehensive income34 (1)— — 33 
Other comprehensive income (loss)(1)
51 (1)(220)(20)(190)
Balance at June 30, 2024$41 $(352)$(1,983)$(258)$(2,552)
(1)Excluded from the table above is other comprehensive income (loss) allocated to noncontrolling interests of $7 million and nil for the six months ended June 30, 2025 and 2024, respectively.
(2)See "Note 20: Immaterial Revision of Prior Period Financial Statements".
Significant amounts reclassified out of each component of accumulated other comprehensive income (loss) in the three and six months ended June 30, 2025 and 2024 consisted of the following (in millions of dollars):
Amounts Reclassified from Other
Comprehensive Income (Loss)		Consolidated Statement
of Operations Line
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Cash flow hedges$2 $2 $4 $3 Net sales
(5)14 3 18 Cost of goods sold
— 9 4 3 Other, net
(7)7 (10)12 Interest expense
1 (1)— (2)Income taxes
(9)31 1 34 
Change in retirement plans' funded status:
Amortization of actuarial losses5 5 10 10 
(1)
Amortization of prior service cost(4)(6)(9)(12)
(1)
(1)— (1)1 Income taxes
— (1)— (1)
Total reclassifications, net of tax$(9)$30 $1 $33 
(1)These amounts are included in net periodic pension and other postretirement benefit cost. See "Note 6: Employee Benefit Plans and Postretirement Benefits" for additional information.