EQUITY (Tables)

12 Months Ended

Dec. 31, 2022


	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 January 1, 2020	2,923	$	292	$	43,709	$	(1,520)	$	34,474	672	$	(25,357)	$	100
Net loss	—	—		—		—		(9,015)		—	—		20
Other Comprehensive Income/(Loss)	—	—		—		(319)		—		—	—		—
Cash dividends declared(a)	—	—		—		—		(4,178)		—	—		—
Share repurchase program	—	—		1,400		—		—		43	(2,993)		—
Stock compensation	—	—		(784)		—		—		(36)	2,113		—
Distributions	—	—		—		—		—		—	—		(60)
Balance at December 31, 2020	2,923	292		44,325		(1,839)		21,281		679	(26,237)		60
Net earnings	—	—		—		—		6,994		—	—		20
Other Comprehensive Income/(Loss)	—	—		—		571		—		—	—		—
Cash dividends declared(a)	—	—		—		—		(4,455)		—	—		—
Share repurchase program	—	—		—		—		—		102	(6,240)		—
Stock compensation	—	—		36		—		—		(34)	1,218		—
Distributions	—	—		—		—		—		—	—		(20)
Balance at December 31, 2021	2,923	292		44,361		(1,268)		23,820		747	(31,259)		60
Net earnings	—	—		—		—		6,327		—	—		18
Other Comprehensive Income/(Loss)	—	—		—		(13)		—		—	—		—
Cash dividends declared(a)	—	—		—		—		(4,644)		—	—		—
Share repurchase program	—	—		—		—		—		109	(8,001)		—
Stock compensation	—	—		804		—		—		(31)	642		—
Distributions	—	—		—		—		—		—	—		(21)
Balance at December 31, 2022	2,923	$	292	$	45,165	$	(1,281)	$	25,503	825	$	(38,618)	$	57

(a) Cash dividends declared per common share were $2.19 in 2022, $2.01 in 2021 and $1.84 in 2020.

Schedule of Comprehensive Income (Loss)

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


	Year Ended December 31,
	2022						2021						2020
Dollars in Millions	Pretax		Tax		After Tax		Pretax		Tax		After Tax		Pretax		Tax		After Tax
Derivatives qualifying as cash flow hedges:
Unrealized gains/(losses)	$	585	$	(79)	$	506	$	364	$	(34)	$	330	$	(216)	$	7	$	(209)
Reclassified to net earnings(a)	(524)		72		(452)		95		(10)		85		(54)		7		(47)
Derivatives qualifying as cash flow hedges	61		(7)		54		459		(44)		415		(270)		14		(256)

Pension and postretirement benefits:
Actuarial gains/(losses)	146		(25)		121		220		(40)		180		(134)		25		(109)
Amortization(b)	21		(6)		15		41		(10)		31		33		(6)		27
Settlements(b)	11		(2)		9		(6)		1		(5)		10		(3)		7
Pension and postretirement benefits	178		(33)		145		255		(49)		206		(91)		16		(75)

Marketable debt securities:
Unrealized (losses)gains	(2)		—		(2)		(11)		2		(9)		7		(1)		6
Realized (gains)/losses(b)	—		—		—		—		—		—		(1)		—		(1)
Marketable debt securities	(2)		—		(2)		(11)		2		(9)		6		(1)		5

Foreign currency translation	(183)		(27)		(210)		(14)		(27)		(41)		(19)		26		7

Other Comprehensive Income/(Loss)	$	54	$	(67)	$	(13)	$	689	$	(118)	$	571	$	(374)	$	55	$	(319)

(a) Included in Cost of products sold and Other (income)/expense, net. Refer to “—Note 9.Financial Instruments and Fair Value Measurements“ for further information.

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

Schedule of Accumulated Other Comprehensive Income (Loss)

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


	December 31,
Dollars in Millions	2022		2021
Derivatives qualifying as cash flow hedges	$	232	$	178
Pension and postretirement benefits	(623)		(768)
Marketable debt securities	—		2
Foreign currency translation(a)	(890)		(680)
Accumulated other comprehensive loss	$	(1,281)	$	(1,268)

(a) Included in foreign currency are net investment hedges gains of $125 million and $30 million as of December 31, 2022 and December 31, 2021.