Shareholders' Equity (Tables)

3 Months Ended

Mar. 31, 2026

The following tables set forth the changes in AOCI by component for the three months ended March 31, 2026 and 2025 (in millions).


	Three Months Ended March 31, 2026
	Foreign Currency Translation Adjustment		Deferred Gain (Loss) on Cash Flow Hedging Activities		Pension and Other Postretirement Benefit Liabilities		Unrealized (Loss) on Investments		Accumulated Other Comprehensive Income (Loss)
Balance at January 1, 2026	$	(2,549)	$	119	$	(82)	$	(19)	$	(2,531)
Other comprehensive income (loss) before reclassifications	13		(48)		—		(4)		(39)
Gain on net investment hedges	61		—		—		—		61
Amounts reclassified from AOCI	—		(4)		(2)		—		(6)
Tax effect	(14)		17		1		—		4
Net of tax amount	60		(35)		(1)		(4)		20
Balance at March 31, 2026	$	(2,489)	$	84	$	(83)	$	(23)	$	(2,511)


	Three Months Ended March 31, 2025
	Foreign Currency Translation Adjustment		Deferred Gain (Loss) on Cash Flow Hedging Activities		Pension and Other Postretirement Benefit Liabilities		Unrealized (Loss) on Investments		Accumulated Other Comprehensive Income (Loss)
Balance at January 1, 2025	$	(2,999)	$	126	$	(100)	$	(15)	$	(2,988)
Other comprehensive income (loss) before reclassifications	25		12		(20)		(3)		14
(Loss) on net investment hedges	(158)		—		—		—		(158)
Amounts reclassified from AOCI	—		(17)		(2)		—		(19)
Tax effect	38		(1)		6		—		43
Net of tax amount	(95)		(6)		(16)		(3)		(120)
Balance at March 31, 2025	$	(3,094)	$	120	$	(116)	$	(18)	$	(3,108)

Schedule of Reclassifications out of AOCI

The following table sets forth the reclassifications out of AOCI related to deferred (gains) losses on cash flow hedging activities for the three months ended March 31, 2026 and 2025 (in millions).


Affected line item in the Consolidated Statements of Earnings	Three Months Ended
	March 31,
	2026		2025







Cost of products sold	$	(4)	$	(17)


Earnings before income tax	(4)		(17)
Income tax expense	1		4
Net earnings	$	(3)	$	(13)