Shareholders' Equity

12 Months Ended

Dec. 31, 2022

Stockholders' Equity Note [Abstract]

Shareholders' Equity

Shareholders’ Equity

On December 17, 2018, the Board approved a repurchase plan for up to $20,000 of common stock. In March 2020, the Board of Directors terminated its prior authorization to repurchase shares under this plan.

As of December 31, 2022 and 2021, there were 1,200,000,000 shares of common stock and 20,000,000 shares of preferred stock authorized. No preferred stock has been issued.

Changes in Share Balances

The following table shows changes in each class of shares:

	Common Stock	Treasury Stock
Balance at January 1, 2020	1,012,261,159	449,352,405
Issued		(19,986,868)
Acquired		575,484
Balance at December 31, 2020	1,012,261,159	429,941,021
Issued		(6,904,556)
Acquired		307,242
Balance at December 31, 2021	1,012,261,159	423,343,707
Issued		(8,877,047)
Acquired		204,723
Balance at December 31, 2022	1,012,261,159	414,671,383

Accumulated Other Comprehensive Loss

Changes in Accumulated other comprehensive loss (AOCI) by component for the years ended December 31, 2022, 2021 and 2020 were as follows:

	Currency Translation Adjustments	Unrealized Gains and Losses on Certain Investments	Unrealized Gains and Losses on Derivative Instruments		Defined Benefit Pension Plans & Other Postretirement Benefits		Total (1)
Balance at January 1, 2020	($128)	$1	($84)		($15,942)		($16,153)
Other comprehensive income/(loss) before reclassifications	98		14		(1,929)	(2)	(1,817)
Amounts reclassified from AOCI			27		810	(3)	837
Net current period Other comprehensive income/(loss)	98		41		(1,119)		(980)
Balance at December 31, 2020	($30)	$1	($43)		($17,061)		($17,133)
Other comprehensive (loss)/income before reclassifications	(75)		55		4,268	(2)	4,248
Amounts reclassified from AOCI			(6)		1,232	(3)	1,226
Net current period Other comprehensive (loss)/income	(75)		49		5,500		5,474
Balance at December 31, 2021	($105)	$1	$6		($11,561)		($11,659)
Other comprehensive (loss)/income before reclassifications	(62)	(1)	(40)		1,529	(2)	1,426
Amounts reclassified from AOCI			10	(4)	673	(3)	683
Net current period Other comprehensive (loss)/income	(62)	(1)	(30)		2,202		2,109
Balance at December 31, 2022	($167)		($24)		($9,359)		($9,550)

(1)    Net of tax.

(2)    Primarily related to remeasurement of assets and benefit obligations related to the Company's pension and other postretirement benefit plans resulting in an actuarial gain/(loss) of $1,533, $4,262 and ($1,956) (net of tax of ($22), ($32) and $111) for the years ended December 31, 2022, 2021 and 2020. See Note 16.

(3)    Primarily related to amortization of actuarial losses for the years ended December 31, 2022, 2021 and 2020 totaling $791, $1,155 and $917 (net of tax of ($11), ($8) and ($52)), respectively. These are included in the net periodic pension cost. See Note 16.

(4)    Included losses of $39 (net of tax of ($11)) from cash flow hedges reclassified to Other income, net because the forecasted transactions are probable of not occurring.