Quarterly report pursuant to Section 13 or 15(d)

Other Comprehensive Income (Loss)

v3.23.2
Other Comprehensive Income (Loss)
6 Months Ended
Jul. 01, 2023
Equity [Abstract]  
Other Comprehensive Income (Loss)
Note : Other Comprehensive Income (Loss)
The changes in accumulated other comprehensive income (loss) by component and related tax effects in the first six months of 2023 were as follows:
(In Millions) Unrealized Holding Gains (Losses) on Derivatives Actuarial Valuation and Other Pension Expenses Translation Adjustments and Other Total
Balance as of December 31, 2022 $ (299) $ (259) $ (4) $ (562)
Other comprehensive income (loss) before reclassifications (191) —  (186)
Amounts reclassified out of accumulated other comprehensive income (loss) 218  —  221 
Tax effects (16) —  (1) (17)
Other comprehensive income (loss) 11  3  4  18 
Balance as of July 1, 2023 $ (288) $ (256) $   $ (544)
We estimate that we will reclassify approximately $110 million (before taxes) of net derivative losses from accumulated other comprehensive income (loss) into earnings within the next 12 months.