| OTHER COMPREHENSIVE INCOME (LOSS) The following table presents changes in Accumulated Other Comprehensive Income (Loss) ("AOCL"), net of tax, for the three months and six months ended June 30, 2026 and 2025: | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended
June 30 | | Six Months Ended
June 30 | | In millions | 2026 | | 2025 | | 2026 | | 2025 | | Defined Benefit Pension and Postretirement Adjustments | | | | | | | | | Balance at beginning of period | $ | (1,070) | | | $ | (1,288) | | | $ | (1,099) | | | $ | (1,312) | | | Amounts reclassified from accumulated other comprehensive income (loss) | 9 | | | 16 | | | 38 | | | 40 | | | Balance at end of period | (1,061) | | | (1,272) | | | (1,061) | | | (1,272) | | | Change in Cumulative Foreign Currency Translation Adjustments | | | | | | | | | Balance at beginning of period | 625 | | | 8 | | | 630 | | | (402) | | | Other comprehensive income (loss) before reclassifications | (82) | | | 645 | | | (90) | | | 1,055 | | | Amounts reclassified from accumulated other comprehensive income (loss) | (1) | | | — | | | 2 | | | — | | | Balance at end of period | 542 | | | 653 | | | 542 | | | 653 | | | Net Gains and Losses on Cash Flow Hedging Derivatives | | | | | | | | | Balance at beginning of period | 79 | | | (61) | | | (59) | | | (8) | | | Other comprehensive income (loss) before reclassifications | (45) | | | — | | | 92 | | | (52) | | | Amounts reclassified from accumulated other comprehensive income (loss) | — | | | 8 | | | 1 | | | 7 | | | Balance at end of period | 34 | | | (53) | | | 34 | | | (53) | | | Total Accumulated Other Comprehensive Income (Loss) at End of Period | $ | (485) | | | $ | (672) | | | $ | (485) | | | $ | (672) | |
The following table presents details of the reclassifications out of AOCL for the three months and six months ended June 30, 2026 and 2025:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | In millions: | Amount Reclassified from Accumulated Other Comprehensive Income (Loss) | Location of Amount Reclassified from AOCL | Three Months Ended
June 30 | Six Months Ended
June 30 | | | 2026 | | 2025 | 2026 | | 2025 | | | Defined benefit pension and postretirement items: | | | | | | | | | | Prior-service costs | $ | (3) | | | $ | (4) | | $ | (6) | | | $ | (8) | | (a) | Non-operating pension expense (income) | | Actuarial gains (losses) | (9) | | | (18) | | (25) | | | (36) | | (a) | Non-operating pension expense (income) | | Settlement charge | — | | | — | | (19) | | | (8) | | (a) | Discontinued operations, net of taxes and Non-operating pension expense (income) | | Total pre-tax amount | (12) | | | (22) | | (50) | | | (52) | | | | | Tax (expense) benefit | 3 | | | 6 | | 12 | | | 12 | | | | | Net of tax | (9) | | | (16) | | (38) | | | (40) | | | | | | | | | | | | | | Change in cumulative foreign currency translation adjustments: | | | | | | | | | | Business divestitures | 1 | | | — | | (2) | | | — | | | Discontinued operations, net of taxes and Net (gains) losses on sales and impairments of businesses | | Tax (expense)/benefit | — | | | — | | — | | | — | | | | | Net of tax | 1 | | | — | | (2) | | | — | | | | | | | | | | | | | | Net gains and losses on cash flow hedging derivatives: | | | | | | | | | | Interest rate contracts | — | | | (1) | | — | | | (1) | | (b) | Interest expense, net | | Commodity contracts | — | | | (9) | | (2) | | | (8) | | (b) | Cost of products sold | | Total pre-tax amount | — | | | (10) | | (2) | | | (9) | | | | | Tax (expense)/benefit | — | | | 2 | | 1 | | | 2 | | | | | Net of tax | — | | | (8) | | (1) | | | (7) | | | | | Total reclassifications for the period | $ | (8) | | | $ | (24) | | $ | (41) | | | $ | (47) | | | |
(a)These accumulated other comprehensive income components are included in the computation of net periodic pension cost (see Note 18 - Retirement Plans for additional details).
|