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SHAREOWNERS' EQUITY (Tables)
 9 Months Ended
Sep. 30, 2020
Stockholders' Equity Note [Abstract]  
Schedule of Stockholders Equity
Three Months Ended September 30:20202019
 SharesDollarsSharesDollars
Class A Common Stock
Balance at beginning of period157 $2 161 $2 
Common stock purchases— — (1)— 
Stock award plans— — — — 
Common stock issuances1 — 1 — 
Conversions of class A to class B common stock(8)— (4)— 
Class A shares issued at end of period150 $2 157 $2 
Class B Common Stock
Balance at beginning of period706 $7 698 $7 
Common stock purchases— — (1)— 
Conversions of class A to class B common stock8 — 4 — 
Class B shares issued at end of period714 $7 701 $7 
Additional Paid-In Capital
Balance at beginning of period$255 $102 
Common stock purchases— (251)
Stock award plans145 202 
Common stock issuances90 56 
Option premiums paid— 20 
Balance at end of period$490 $129 
Retained Earnings
Balance at beginning of period$10,032 $9,109 
Net income attributable to common shareowners1,957 1,750 
Dividends ($1.01 and $0.96 per share) (1)
(873)(825)
Other(1)3 
Balance at end of period$11,115 $10,037 
Non-Controlling Minority Interest
Balance at beginning of period$13 $18 
Change in non-controlling minority interest1 (2)
Balance at end of period$14 $16 
(1) The dividend per share amount is the same for both class A and class B common stock. Dividends include $28 and $27 million as of September 30, 2020 and September 30, 2019 respectively, that were settled in shares of class A common stock.
Nine Months Ended September 30:20202019
 SharesDollarsSharesDollars
Class A Common Stock
Balance at beginning of period156 $2 163 $2 
Common stock purchases— — (3)— 
Stock award plans6 — 4 — 
Common stock issuances3 — 2 — 
Conversions of class A to class B common stock(15)— (9)— 
Class A shares issued at end of period150 $2 157 $2 
Class B Common Stock
Balance at beginning of period701 $7 696 $7 
Common stock purchases(2)— (4)— 
Conversions of class A to class B common stock15 — 9 — 
Class B shares issued at end of period714 $7 701 $7 
Additional Paid-In Capital
Balance at beginning of period$150 $— 
Common stock purchases(217)(753)
Stock award plans215 584 
Common stock issuances342 277 
Option premiums received (paid)— 21 
Balance at end of period$490 $129 
Retained Earnings
Balance at beginning of period$9,105 $8,006 
Net income attributable to common shareowners4,690 4,546 
Dividends ($3.03 and $2.88 per share) (1)
(2,679)(2,518)
Other(1)3 
Balance at end of period$11,115 $10,037 
Non-Controlling Minority Interest
Balance at beginning of period$16 $16 
Change in non-controlling minority interest(2)— 
Balance at end of period$14 $16 
(1) The dividend per share amount is the same for both class A and class B common stock. Dividends include $151 and $121 million as of September 30, 2020 and September 30, 2019 respectively, that were settled in shares of class A common stock.
Schedule of Accumulated Other Comprehensive Income (Loss) The activity in AOCI for the three and nine months ended September 30, 2020 and 2019 was as follows (in millions):
Three Months Ended September 30:20202019
Foreign currency translation gain (loss), net of tax:
Balance at beginning of period$(1,209)$(1,106)
Translation adjustment (net of tax effect of $(14) and $41)
65 (48)
Balance at end of period(1,144)(1,154)
Unrealized gain (loss) on marketable securities, net of tax:
Balance at beginning of period9 7 
Current period changes in fair value (net of tax effect of $0 and $1)
(1)2 
Reclassification to earnings (net of tax effect of $0 and $(1))
(1)(5)
Balance at end of period7 4 
Unrealized gain (loss) on cash flow hedges, net of tax:
Balance at beginning of period215 104 
Current period changes in fair value (net of tax effect of $(53) and $79)
(168)251 
Reclassification to earnings (net of tax effect of $(8) and $(14))
(27)(45)
Balance at end of period20 310 
Unrecognized pension and postretirement benefit costs, net of tax:
Balance at beginning of period(4,948)(3,820)
Reclassification to earnings (net of tax effect of $13 and $14)
43 43 
Balance at end of period(4,905)(3,777)
Accumulated other comprehensive income (loss) at end of period$(6,022)$(4,617)
Nine Months Ended September 30:20202019
Foreign currency translation gain (loss), net of tax:
Balance at beginning of period$(1,078)$(1,126)
Translation adjustment (net of tax effect of $(15) and $43)
(66)(28)
Balance at end of period(1,144)(1,154)
Unrealized gain (loss) on marketable securities, net of tax:
Balance at beginning of period4 (2)
Current period changes in fair value (net of tax effect of $1 and $4)
6 11 
Reclassification to earnings (net of tax effect of $(1) in both periods)
(3)(5)
Balance at end of period7 4 
Unrealized gain (loss) on cash flow hedges, net of tax:
Balance at beginning of period112 40 
Current period changes in fair value (net of tax effect of $10 and $112)
33 355 
Reclassification to earnings (net of tax effect of $(39) and $(27))
(125)(85)
Balance at end of period20 310 
Unrecognized pension and postretirement benefit costs, net of tax:
Balance at beginning of period(5,035)(3,906)
Reclassification to earnings (net of tax effect of $40 and $41)
130 129 
Balance at end of period(4,905)(3,777)
Accumulated other comprehensive income (loss) at end of period$(6,022)$(4,617)
Gains (Losses) Reclassified from AOCI
Detail of the gains (losses) reclassified from AOCI to the statements of consolidated income for the three and nine months ended September 30, 2020 and 2019 was as follows (in millions):
Amount Reclassified from AOCIAffected Line Item in the Income Statement
Three Months Ended September 30:20202019
Unrealized gain (loss) on marketable securities:
Realized gain (loss) on sale of securities$1 $6 Investment income and other
Income tax (expense) benefit— (1)Income tax expense
Impact on net income1 5 Net income
Unrealized gain (loss) on cash flow hedges:
Interest rate contracts(3)(3)Interest expense
Foreign exchange contracts38 62 Revenue
Income tax (expense) benefit(8)(14)Income tax expense
Impact on net income27 45 Net income
Unrecognized pension and postretirement benefit costs:
Prior service costs(56)(57)Investment income and other
Income tax (expense) benefit13 14 Income tax expense
Impact on net income(43)(43)Net income
Total amount reclassified for the period$(15)$7 Net income
Amount Reclassified from AOCIAffected Line Item in the Income Statement
Nine Months Ended September 30:20202019
Unrealized gain (loss) on marketable securities:
Realized gain (loss) on sale of securities$4 $6 Investment income and other
Income tax (expense) benefit(1)(1)Income tax expense
Impact on net income3 5 Net income
Unrealized gain (loss) on cash flow hedges:
Interest rate contracts(9)(12)Interest expense
Foreign exchange contracts173 124 Revenue
Income tax (expense) benefit(39)(27)Income tax expense
Impact on net income125 85 Net income
Unrecognized pension and postretirement benefit costs:
Prior service costs(170)(170)Investment income and other
Income tax (expense) benefit40 41 Income tax expense
Impact on net income(130)(129)Net income
Total amount reclassified for the period$(2)$(39)Net income
Activity in Deferred Compensation Program
Activity in the deferred compensation program for the three and nine months ended September 30, 2020 and 2019 was as follows (in millions):
20202019
Three Months Ended September 30:SharesDollarsSharesDollars
Deferred Compensation Obligations:
Balance at beginning of period$20 $25 
Reinvested dividends— — 
Benefit payments— — 
Balance at end of period$20 $25 
Treasury Stock:
Balance at beginning of period— $(20)— $(25)
Reinvested dividends— — — — 
Benefit payments— — — — 
Balance at end of period— $(20)— $(25)
20202019
Nine Months Ended September 30:SharesDollarsSharesDollars
Deferred Compensation Obligations:
Balance at beginning of period$26 $32 
Reinvested dividends1 1 
Benefit payments(7)(8)
Balance at end of period$20 $25 
Treasury Stock:
Balance at beginning of period— $(26)(1)$(32)
Reinvested dividends— (1)— (1)
Benefit payments— 7 1 8 
Balance at end of period— $(20)— $(25)