EQUITY (Tables)

3 Months Ended

Mar. 31, 2021

The following table summarizes changes in equity for the three months ended March 31, 2021:


	Common Stock			Capital in Excess of Par Value of Stock		Accumulated Other Comprehensive Loss		Retained Earnings		Treasury Stock			Noncontrolling Interest
Dollars and Shares in Millions	Shares	Par Value								Shares	Cost
Balance at December 31, 2020	2,923	$	292	$	44,325	$	(1,839)	$	21,281	679	$	(26,237)	$	60
Net earnings	—	—		—		—		2,021		—	—		8
Other Comprehensive Income	—	—		—		295		—		—	—		—
Cash dividends declared(a)	—	—		—		—		(1,098)		—	—		—
Share repurchase program	—	—		—		—		—		28	(1,768)		—
Stock compensation	—	—		(473)		—		—		(15)	806		—

Balance at March 31, 2021	2,923	$	292	$	43,852	$	(1,544)	$	22,204	692	$	(27,199)	$	68

(a) Cash dividends declared per common share were $0.49 for the three months ended March 31, 2021.

The following table summarizes changes in equity for the three months ended March 31, 2020:


	Common Stock			Capital in Excess of Par Value of Stock		Accumulated Other Comprehensive Loss		Retained Earnings		Treasury Stock			Noncontrolling Interest
Dollars and Shares in Millions	Shares	Par Value								Shares	Cost
Balance at December 31, 2019	2,923	$	292	$	43,709	$	(1,520)	$	34,474	672	$	(25,357)	$	100
Net loss	—	—		—		—		(775)		—	—		9
Other Comprehensive Loss	—	—		—		(29)		—		—	—		—
Cash dividends declared(a)	—	—		—		—		(1,028)		—	—		—
Share repurchase program	—	—		—		—		—		1	(81)		—
Stock compensation	—	—		(455)		—		—		(13)	681		—
Distributions	—	—		—		—		—		—	—		(43)
Balance at March 31, 2020	2,923	$	292	$	43,254	$	(1,549)	$	32,671	660	$	(24,757)	$	66

(a) Cash dividends declared per common share were $0.45 for the three months ended March 31, 2020.

The components of Other Comprehensive Income/(Loss) were as follows:


	2021						2020
Dollars in Millions	Pretax		Tax		After Tax		Pretax		Tax		After Tax
Three Months Ended March 31,
Derivatives qualifying as cash flow hedges:
Unrealized gain/(losses)	$	259	$	(11)	$	248	$	97	$	(10)	$	87
Reclassified to net earnings(a)	36		(4)		32		(20)		3		(17)
Derivatives qualifying as cash flow hedges	295		(15)		280		77		(7)		70

Pension and postretirement benefits:
Actuarial losses	21		(5)		16		8		(2)		6
Amortization(b)	9		(3)		6		9		(1)		8
Settlements(b)	1		—		1		2		—		2
Pension and postretirement benefits	31		(8)		23		19		(3)		16

Available-for-sale debt securities:
Unrealized gains/(losses)	(3)		1		(2)		2		(1)		1

Foreign currency translation	9		(15)		(6)		(110)		(6)		(116)

Other Comprehensive Income/(Loss)	$	332	$	(37)	$	295	$	(12)	$	(17)	$	(29)

(a)Included in Cost of products sold.

(b)Included in Other (income)/expense, net.

The accumulated balances related to each component of Other Comprehensive Income/(Loss), net of taxes, were as follows:


Dollars in Millions	March 31, 2021		December 31, 2020
Derivatives qualifying as cash flow hedges	$	43	$	(237)
Pension and postretirement benefits	(951)		(974)
Available-for-sale debt securities	9		11
Foreign currency translation	(645)		(639)
Accumulated other comprehensive loss	$	(1,544)	$	(1,839)