Note 22. Accumulated Other Comprehensive Loss The following table presents changes in AOCL by component for the years ended December 31, 2023, 2022 and 2021, after tax and minority interest:
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(In millions) Income (Loss) |
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Foreign
Currency
Translation
Adjustment |
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|
Unrealized Gains (Losses) from Securities |
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|
Unrecognized
Net Actuarial
Losses and
Prior Service
Costs |
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|
Deferred
Derivative
Gains (Losses) |
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|
Total |
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Balance at December 31, 2020 |
|
$ |
(1,284 |
) |
|
$ |
— |
|
|
$ |
(2,856 |
) |
|
$ |
5 |
|
|
$ |
(4,135 |
) |
Other comprehensive income (loss) before reclassifications |
|
|
(118 |
) |
|
|
— |
|
|
|
153 |
|
|
|
1 |
|
|
|
36 |
|
Amounts reclassified from accumulated other comprehensive loss |
|
|
— |
|
|
|
— |
|
|
|
138 |
|
|
|
(2 |
) |
|
|
136 |
|
Balance at December 31, 2021 |
|
$ |
(1,402 |
) |
|
$ |
— |
|
|
$ |
(2,565 |
) |
|
$ |
4 |
|
|
$ |
(3,963 |
) |
Other comprehensive income (loss) before reclassifications |
|
|
(261 |
) |
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|
1 |
|
|
|
162 |
|
|
|
— |
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|
|
(98 |
) |
Amounts reclassified from accumulated other comprehensive loss |
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— |
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— |
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|
188 |
|
|
|
(2 |
) |
|
|
186 |
|
Balance at December 31, 2022 |
|
$ |
(1,663 |
) |
|
$ |
1 |
|
|
$ |
(2,215 |
) |
|
$ |
2 |
|
|
$ |
(3,875 |
) |
Other comprehensive income (loss) before reclassifications |
|
|
50 |
|
|
|
— |
|
|
|
(125 |
) |
|
|
(5 |
) |
|
|
(80 |
) |
Amounts reclassified from accumulated other comprehensive loss |
|
|
— |
|
|
|
— |
|
|
|
116 |
|
|
|
4 |
|
|
|
120 |
|
Balance at December 31, 2023 |
|
$ |
(1,613 |
) |
|
$ |
1 |
|
|
$ |
(2,224 |
) |
|
$ |
1 |
|
|
$ |
(3,835 |
) |
The following table presents reclassifications out of AOCL for the years ended December 31, 2023, 2022 and 2021:
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Year Ended
December 31, |
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|
(In millions) (Income) Expense |
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2023 |
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|
2022 |
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|
2021 |
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|
Component of AOCL |
|
Amount Reclassified from
AOCL |
|
|
Affected Line Item in the Consolidated
Statements of Operations |
Amortization of prior service cost and unrecognized gains and losses |
|
$ |
106 |
|
|
$ |
125 |
|
|
$ |
139 |
|
|
Other (Income) Expense |
Immediate recognition of prior service cost and unrecognized gains and losses due to curtailments, settlements and divestitures |
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|
47 |
|
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|
124 |
|
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|
43 |
|
|
Other (Income) Expense / Rationalizations |
Unrecognized Net Actuarial Losses and Prior Service Costs, before tax |
|
$ |
153 |
|
|
$ |
249 |
|
|
$ |
182 |
|
|
|
Tax effect |
|
|
(37 |
) |
|
|
(61 |
) |
|
|
(44 |
) |
|
United States and Foreign Taxes |
Net of tax |
|
$ |
116 |
|
|
$ |
188 |
|
|
$ |
138 |
|
|
Goodyear Net Income (Loss) |
Deferred Derivative (Gains) Losses |
|
$ |
4 |
|
|
$ |
(2 |
) |
|
$ |
(2 |
) |
|
Cost of Goods Sold |
Tax effect |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
United States and Foreign Taxes |
Net of tax |
|
$ |
4 |
|
|
$ |
(2 |
) |
|
$ |
(2 |
) |
|
Goodyear Net Income (Loss) |
Total reclassifications |
|
$ |
120 |
|
|
$ |
186 |
|
|
$ |
136 |
|
|
Goodyear Net Income (Loss) |
The following table presents the details of comprehensive income (loss) attributable to minority shareholders:
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Year Ended
December 31, |
|
(In millions) |
|
2023 |
|
|
2022 |
|
|
2021 |
|
Net Income Attributable to Minority Shareholders |
|
$ |
2 |
|
|
$ |
7 |
|
|
$ |
16 |
|
Other Comprehensive Income (Loss): |
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|
|
|
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|
Foreign currency translation |
|
|
4 |
|
|
|
(14 |
) |
|
|
(21 |
) |
Decrease/Increase in net actuarial losses |
|
|
— |
|
|
|
(3 |
) |
|
|
1 |
|
Other Comprehensive Income (Loss) |
|
$ |
4 |
|
|
$ |
(17 |
) |
|
$ |
(20 |
) |
Comprehensive Income (Loss) Attributable to Minority Shareholders |
|
$ |
6 |
|
|
$ |
(10 |
) |
|
$ |
(4 |
) |
|