| Changes in Accumulated Other Comprehensive Income (Loss) |
Changes In Accumulated Other Comprehensive Income (Loss) AOCI is comprised of items that have not been recognized in earnings but may be recognized in earnings in the future when certain events occur. Changes in each component for the three and six months ended June 30, 2026 and 2025 were as follows: Table 10.1: Changes in Accumulated Other Comprehensive Income (Loss) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (Millions), net of tax | | Three Months Ended, | | June 30, 2026 | | Net Change | | March 31, 2026 | | June 30, 2025 | | Net Change | | March 31, 2025 | | Net unrealized gains (losses) on debt securities | | $ | (22) | | | $ | (11) | | | $ | (11) | | | $ | (6) | | | $ | — | | | $ | (6) | | Foreign currency translation adjustment gains (losses), net of hedges (a) | | (2,842) | | | (37) | | | (2,805) | | | (2,792) | | | 115 | | | (2,907) | | | Net unrealized pension and other postretirement benefit gains (losses) | | (491) | | | 4 | | | (495) | | | (450) | | | 3 | | | (453) | | | Accumulated other comprehensive income (loss) | | $ | (3,355) | | | $ | (44) | | | $ | (3,311) | | | $ | (3,248) | | | $ | 118 | | | $ | (3,366) | | | | | | | | | | | | | | | (Millions), net of tax | | Six Months Ended | | June 30, 2026 | | Net Change | | December 31, 2025 | | June 30, 2025 | | Net Change | | December 31, 2024 | | Net unrealized gains (losses) on debt securities | | $ | (22) | | | $ | (18) | | | $ | (4) | | | $ | (6) | | | $ | 3 | | | $ | (9) | | Foreign currency translation adjustment gains (losses), net of hedges (a) | | (2,842) | | | (59) | | | (2,783) | | | (2,792) | | | 132 | | | (2,924) | | | Net unrealized pension and other postretirement benefit gains (losses) | | (491) | | | (1) | | | (490) | | | (450) | | | 12 | | | (462) | | | Accumulated other comprehensive income (loss) | | $ | (3,355) | | | $ | (78) | | | $ | (3,277) | | | $ | (3,248) | | | $ | 147 | | | $ | (3,395) | |
(a)Refer to Note 8 for additional information on hedging activity. The following table shows the tax impact for the three and six months ended June 30, 2026 and 2025 for the changes in each component of AOCI presented above: Table 10.2: Tax Impact for Changes in Accumulated Other Comprehensive Income (Loss) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Tax expense (benefit) | | | Three Months Ended
June 30, | | Six Months Ended
June 30, | | (Millions) | | 2026 | | 2025 | | 2026 | | 2025 | Net unrealized gains (losses) on debt securities | | $ | (3) | | | $ | — | | | $ | (4) | | | $ | — | | | Foreign currency translation adjustment, net of hedges | | 9 | | | (137) | | | — | | | (197) | | | | | | | | | | | | Pension and other postretirement benefits | | 3 | | | (6) | | | 15 | | | (7) | | | Total tax impact | | $ | 9 | | | $ | (143) | | | $ | 11 | | | $ | (204) | |
Reclassifications out of AOCI into the Consolidated Statements of Income, net of taxes, for the three and six months ended June 30, 2026 and 2025 were not significant.
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