The components of Other Comprehensive (Loss)/Income were as follows: (a) Included in Cost of products sold. (b) Included in Other (income)/expense, net. The accumulated balances related to each component of Other Comprehensive (Loss)/Income, net of taxes, were as follows: BMS sponsors defined benefit pension plans, defined contribution plans and termination indemnity plans for regular full-time employees. The principal defined benefit pension plan was the Bristol-Myers Squibb Retirement Income Plan (the “Plan”), which covered most U.S. employees. Future benefits related to service for the Plan were eliminated in 2009. BMS contributed at least the minimum amount required by ERISA. Plan benefits were based primarily on the participant’s years of credited service and final average compensation. In 2018, BMS announced plans to fully terminate the Plan. Pension obligations related to the Plan were to be distributed through a combination of lump sum payments to eligible Plan participants who elected such payments and through the purchase of group annuity contracts from wholly owned insurance subsidiaries of Athene Holding Ltd. (“Athene”). In 2019, $1.3 billion was distributed to Plan participants who elected lump sum payments during the election window, and group annuity contracts were purchased from Athene for $2.6 billion for the remaining Plan participants for whom Athene irrevocably assumed the pension obligations. These transactions fully terminated the Plan and resulted in a $1.5 billion non-cash pre-tax pension settlement charge in 2019. The principal U.S. defined benefit pension plan was over-funded at termination. As a result, excess Plan assets of $424 million are reflected as BMS assets as of December 31, 2019. These assets are primarily reported in long term restricted cash due to the election to contribute these assets to the Bristol-Myers Squibb Savings and Investment Program, a qualified replacement plan. This election requires that these assets be used to fund future annual Company contribution to the Bristol-Myers Squibb Savings and Investment Program. 106 December 31, Dollars in Millions 2020 2019 Derivatives qualifying as cash flow hedges $ (237) $ 19  Pension and postretirement benefits (974) (899) Available-for-sale securities 11  6  Foreign currency translation (639) (646) Accumulated other comprehensive loss $ (1,839) $ (1,520) Note 17. RETIREMENT BENEFITS Year Ended December 31, 2020 2019 2018 Dollars in Millions Pretax Tax After Tax Pretax Tax After Tax Pretax Tax After Tax Derivatives qualifying as cash flow hedges: Unrealized (losses)/gains $ (216) $ 7  $ (209) $ 65  $ (7) $ 58  $ 86  $ (9) $ 77  Reclassified to net earnings (54) 7  (47) (103) 13  (90) (4) (3) (7) Derivatives qualifying as cash flow hedges (270) 14  (256) (38) 6  (32) 82  (12) 70  Pension and postretirement benefits: Actuarial (losses)/gains (134) 25  (109) (143) 28  (115) (89) (3) (92) Amortization 33  (6) 27  55  (11) 44  65  (13) 52  Settlements 10  (3) 7  1,640  (366) 1,274  121  (28) 93  Pension and postretirement benefits (91) 16  (75) 1,552  (349) 1,203  97  (44) 53  Available-for-sale securities: Unrealized gains/(losses) 7  (1) 6  42  (9) 33  (30) 5  (25) Realized (gains)/losses (1) —  (1) 3  —  3  —  —  —  Available-for-sale securities 6  (1) 5  45  (9) 36  (30) 5  (25) Foreign currency translation (19) 26  7  43  (8) 35  (245) (9) (254) Other Comprehensive (Loss)/Income $ (374) $ 55  $ (319) $ 1,602  $ (360) $ 1,242  $ (96) $ (60) $ (156) (a) (b) (b) (b)