Meritor Acquisition and 2022 Financial Results
Table of Contents
NOTE 18. ACCUMULATED OTHER COMPREHENSIVE LOSS
Following are the changes in accumulated other comprehensive income (loss) by component:
Change in pensions
and other
postretirement
defined benefit
Foreign
currency
translation
Unrealized gain
(loss) on
In millions
Balance at December 31, 2019
Other comprehensive income (loss) before reclassifications
Before-tax amount
Tax benefit
plans
adjustment
derivatives
Total
attributable to
Cummins Inc.
Noncontrolling
interests
Total
(734)
$
(1,285) $
(9)
$
(2,028)
(92)
73
(41)
(60) $
(10) $
(70)
26
8
9
43
43
After-tax amount
(66)
81
(32)
(17)
(10)
(27)
Amounts reclassified from accumulated other comprehensive
income(1)
65
(2)
63
63
Net current period other comprehensive (loss) income
(1)
81
(34)
46
$
(10)
$
36
Balance at December 31, 2020
$
(735) $
(1,204) $
(43)
$
(1,982)
Other comprehensive income (loss) before reclassifications
Before-tax amount
425
(5)
38
458
$
(5)
$
453
Tax (expense) benefit
(103)
1
(12)
(114)
(114)
After-tax amount
Amounts reclassified from accumulated other comprehensive
income(1)
322
(4)
26
344
(5)
339
67
67
67
Net current period other comprehensive income (loss)
389
(4)
26
411
(5)
$
406
Balance at December 31, 2021
$
(346) $
(1,208) $
(17)
$
(1,571)
Other comprehensive income (loss) before reclassifications
Before-tax amount
(123)
(350)
136
(337) $
(40)
S
(377)
Tax benefit (expense)
19
6
(32)
(7)
(7)
After-tax amount
(104)
(344)
104
(344)
(40)
(384)
Amounts reclassified from accumulated other comprehensive
income(1)
Net current period other comprehensive (loss) income
Balance at December 31, 2022
$
23
(81)
(427) $
2
25
25
(344)
(1,552) $
106
(319) $
(40) $
(359)
89
$
(1,890)
(1) Amounts are net of tax. Reclassifications out of accumulated other comprehensive income (loss) and the related tax effects are immaterial for separate disclosure.
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