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This piping is cast iron soil pipe. Obviusoly the smaller (2" nominal) pipe needs to be replaced. If the larger piping doesn't have an XH embossed on the hubs you should replace that as well. All the lead (grey pipe) must also be replaced.
XH stands for extra heavy. It's not quite 1/2" thick (more like 3/8"). It's the only weight cast iron soil pipe that might be worth saving after 100+ years (or when ever it was installed). Like I said before it's embossed (raised lettering) on the pipe hubs (the enlagred section at the joints). If you see nothing or an M (medium weight) the you need to replace it now or you'll wind up opening up the wall to replace it when it cracks or leaks later.
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