| Components of comprehensive income (loss), net of tax |
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.
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| AOCI income tax effect |
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) | |
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