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Equity (Tables)
 12 Months Ended
Dec. 31, 2024
Equity [Abstract]  
Share Activity
Activity in the number of shares of common stock and treasury stock was as follows (in millions):
Common
Stock		Treasury
Stock
Balance as of December 31, 2021673 (264)
Transactions in connection with
stock-based compensation plans
— 1 
Purchases of common stock for treasury— (38)
Balance as of December 31, 2022673 (301)
Transactions in connection with
stock-based compensation plans
— 1 
Purchases of common stock for treasury— (40)
Balance as of December 31, 2023673 (340)
Purchases of common stock for treasury— (19)
Balance as of December 31, 2024673 (359)
Share Purchase Program
Our Board authorized us to purchase shares of our outstanding common stock under various programs with no expiration dates as follows (in millions):
Program NameAuthorization
Date		Total Cost
Authorized		Completion of
Authorized Share
Purchases
Remaining
Available for
Purchase as of
December 31,
2024
January 2018 ProgramJanuary 23, 2018$2,500 Second quarter of 2022$— 
July 2022 ProgramJuly 7, 20222,500 Fourth quarter of 2022— 
October 2022 ProgramOctober 26, 20222,500 Second quarter of 2023— 
February 2023 ProgramFebruary 23, 20232,500 Fourth quarter of 2023— 
September 2023 ProgramSeptember 15, 20232,500 Third quarter of 2024— 
February 2024 ProgramFebruary 22, 20242,500 n/a1,828 
September 2024 ProgramSeptember 19, 20242,500 n/a2,500 
Income Tax Effects Related to Components of Other Comprehensive Income (Loss)
The tax effects allocated to each component of other comprehensive income (loss) were as follows (in millions):
Before-Tax
Amount		Tax Expense
(Benefit)		Net Amount
Year ended December 31, 2024
Foreign currency translation adjustment$(546)$(16)$(530)
Pension and other postretirement benefits:
Gain (loss) arising during the year related to:
Net actuarial gain224 51 173 
Miscellaneous loss— 1 (1)
Amounts reclassified into income related to:
Net actuarial gain(9)(2)(7)
Prior service credit(10)(3)(7)
Settlement loss5 1 4 
Effect of exchange rates(3)(1)(2)
Net gain on pension and other
postretirement benefits
207 47 160 
Derivative instruments designated and
qualifying as cash flow hedges:
Net gain arising during the year30 3 27 
Net gain reclassified into income(117)(13)(104)
Net loss on cash flow hedges(87)(10)(77)
Other comprehensive loss$(426)$21 $(447)
Before-Tax
Amount		Tax Expense
(Benefit)		Net Amount
Year ended December 31, 2023
Foreign currency translation adjustment$433 $— $433 
Pension and other postretirement benefits:
Gain (loss) arising during the year related to:
Net actuarial gain77 18 59 
Prior service cost(19)(4)(15)
Miscellaneous loss— 2 (2)
Amounts reclassified into income related to:
Net actuarial gain(12)(3)(9)
Prior service credit(22)(5)(17)
Settlement loss2 — 2 
Effect of exchange rates4 1 3 
Net gain on pension and other
postretirement benefits
30 9 21 
Derivative instruments designated and
qualifying as cash flow hedges:
Net gain arising during the year82 8 74 
Net loss reclassified into income8 1 7 
Net gain on cash flow hedges90 9 81 
Other comprehensive income$553 $18 $535 
Year ended December 31, 2022
Foreign currency translation adjustment$(613)$(7)$(606)
Pension and other postretirement benefits:
Net actuarial gain arising during the year244 57 187 
Amounts reclassified into income related to:
Net actuarial loss52 12 40 
Prior service credit(22)(5)(17)
Settlement loss61 13 48 
Net gain on pension and other
postretirement benefits
335 77 258 
Derivative instruments designated and
qualifying as cash flow hedges:
Net loss arising during the year(292)(32)(260)
Net loss reclassified into income286 32 254 
Net loss on cash flow hedges(6)— (6)
Other comprehensive loss$(284)$70 $(354)
Changes in Components of Accumulated Other Comprehensive Loss
Changes in accumulated other comprehensive loss by component, net of tax, were as follows (in millions):
Foreign
Currency
Translation
Adjustment		Defined
Benefit
Plans
Items		Gains
(Losses) on
Cash Flow
Hedges		Total
Balance as of December 31, 2021$(562)$(441)$(5)$(1,008)
Other comprehensive income (loss)
before reclassifications
(606)187 (114)(533)
Amounts reclassified from
accumulated other comprehensive 
loss
— 71 111 182 
Other comprehensive income (loss)(606)258 (3)(351)
Balance as of December 31, 2022(1,168)(183)(8)(1,359)
Other comprehensive income
before reclassifications
433 42 32 507 
Amounts reclassified from
accumulated other comprehensive
loss
— (24)3 (21)
Effect of exchange rates— 3 — 3 
Other comprehensive income433 21 35 489 
Balance as of December 31, 2023(735)(162)27 (870)
Other comprehensive income (loss)
before reclassifications
(529)172 12 (345)
Amounts reclassified from
accumulated other comprehensive 
loss
— (10)(45)(55)
Effect of exchange rates— (2)— (2)
Other comprehensive income (loss)(529)160 (33)(402)
Balance as of December 31, 2024$(1,264)$(2)$(6)$(1,272)
Gains (Losses) Reclassified Out of Accumulated Other Comprehensive Loss
Gains (losses) reclassified out of accumulated other comprehensive loss and into net income were as follows (in millions):
Details about
Accumulated Other
Comprehensive Loss
Components		Affected Line
Item in the
Statements of
Income
Year Ended December 31,
202420232022
Amortization of items related to defined
benefit pension plans:
Net actuarial gain (loss)$9 $12 $(52)
(a) Other income, net
Prior service credit10 22 22 
(a) Other income, net
Settlement loss(5)(2)(61)
(a) Other income, net
14 32 (91)Total before tax
(4)(8)20 Tax benefit (expense)
$10 $24 $(71)Net of tax
Gains (losses) on cash flow hedges:
Commodity contracts$117 $(8)$(286)Revenues
117 (8)(286)Total before tax
(13)1 32 Tax benefit (expense)
$104 $(7)$(254)Net of tax
Total reclassifications for the year$114 $17 $(325)Net of tax
________________________
(a)These accumulated other comprehensive loss components are included in the computation of net periodic benefit cost, as discussed in Note 13.