SHAREOWNERS' EQUITY (Tables)

3 Months Ended

Mar. 31, 2025

Stockholders' Equity Note [Abstract]

Schedule of Stockholders Equity

The following is a rollforward of our common stock, additional paid-in capital, retained earnings and non-controlling interests accounts for the three months ended March 31, 2025 and 2024 (in millions, except per share amounts):

Three Months Ended March 31:	2025			2024
	Shares	Dollars		Shares	Dollars
Class A Common Stock:
Balance at beginning of period	121	$	2	127	$	2
Stock award plans	—	—		2	—
Common stock issuances	1	—		—	—
Conversions of class A to class B common stock	(8)	—		(3)	—
Class A shares issued at end of period	114	$	2	126	$	2
Class B Common Stock:
Balance at beginning of period	733	$	7	726	$	7
Common stock purchases	(8)	—		—	—
Conversions of class A to class B common stock	8	—		3	—
Class B shares issued at end of period	733	$	7	729	$	7
Additional Paid-In Capital:
Balance at beginning of period		$	136		$	—
Stock award plans		39			(118)
Common stock purchases		(262)			—
Common stock issuances		96			118
Other		(9)			—
Balance at end of period		$	—		$	—
Retained Earnings:
Balance at beginning of period		$	20,882		$	21,055
Net income attributable to controlling interests		1,187			1,113
Dividends ($1.64 and $1.63 per share) (1)		(1,392)			(1,414)
Common stock purchases		(738)			—
Other (2)		—			(73)
Balance at end of period		$	19,939		$	20,681
Noncontrolling Interests:
Balance at beginning of period		$	25		$	8
Change in non-controlling interest		(1)			16
Balance at end of period		$	24		$	24

(1)    The dividend per share amount is the same for both class A and class B common stock. Dividends include $44 and $66 million as of March 31, 2025 and 2024, respectively, that were settled in shares of class A common stock.

(2)    Includes adjustments related to certain stock-based awards.

Schedule of Accumulated Other Comprehensive Income (Loss)

The activity in accumulated other comprehensive income (loss) for the three months ended March 31, 2025 and 2024 was as follows (in millions):

Three Months Ended March 31:	2025		2024
Foreign Currency Translation Gain (Loss), Net of Tax:
Balance at beginning of period	$	(1,586)	$	(1,248)
Translation adjustment (net of tax effect of $(1) and $6)	129		(125)
Balance at end of period	(1,457)		(1,373)
Unrealized Gain (Loss) on Marketable Securities, Net of Tax:
Balance at beginning of period	(1)		(2)
Current period changes in fair value (net of tax effect of $0 and $0)	1		(1)
Balance at end of period	—		(3)
Unrealized Gain (Loss) on Cash Flow Hedges, Net of Tax:
Balance at beginning of period	91		(76)
Current period changes in fair value (net of tax effect of $(30) and $33)	(96)		103
Reclassification to earnings (net of tax effect of $(13) and $(10))	(43)		(30)
Balance at end of period	(48)		(3)
Unrecognized Pension and Postretirement Benefit Costs, Net of Tax:
Balance at beginning of period	(2,813)		(2,432)
Reclassification to earnings (net of tax effect of $9 and $8)	30		30
Balance at end of period	(2,783)		(2,402)
Accumulated other comprehensive income (loss) at end of period	$	(4,288)	$	(3,781)

Gains (Losses) Reclassified from AOCI

Detail of the gains (losses) reclassified from accumulated other comprehensive income (loss) to the statements of consolidated income for the three months ended March 31, 2025 and 2024 is as follows (in millions):

	Amount Reclassified from AOCI(1)				Affected Line Item in the Income Statement
Three Months Ended March 31:	2025		2024
Unrealized Gain (Loss) on Cash Flow Hedges:
Interest rate contracts	$	(1)	$	(1)	Interest expense
Foreign currency exchange contracts	57		41		Revenue
Income tax (expense) benefit	(13)		(10)		Income tax expense
Impact on net income	43		30		Net income
Unrecognized Pension and Postretirement Benefit Costs:
Prior service costs	(39)		(38)		Investment income and other
Income tax (expense) benefit	9		8		Income tax expense
Impact on net income	(30)		(30)		Net income
Total amount reclassified for the period	$	13	$	—	Net income

(1)    Accumulated other comprehensive income (loss)