EQUITY (Tables)

12 Months Ended

Dec. 31, 2024


	Common Stock			Capital in Excess of Par Value of Stock		Accumulated Other Comprehensive (Loss)/Income		Retained Earnings		Treasury Stock			Noncontrolling Interest
Dollars and shares in millions	Shares	Par Value								Shares	Cost
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 loss	—	—		—		(13)		—		—	—		—
Cash dividends declared(a)	—	—		—		—		(4,644)		—	—		—
Share repurchases	—	—		—		—		—		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
Net earnings	—	—		—		—		8,025		—	—		14
Other comprehensive loss	—	—		—		(265)		—		—	—		—
Cash dividends declared(a)	—	—		—		—		(4,762)		—	—		—
Share repurchases	—	—		105		—		—		87	(5,306)		—
Stock compensation	—	—		410		—		—		(10)	147		—
Convertible debt	—	—		4		—		—		—	11		—
Distributions	—	—		—		—		—		—	—		(16)
Balance at December 31, 2023	2,923	292		45,684		(1,546)		28,766		902	(43,766)		55
Net (loss)/earnings	—	—		—		—		(8,948)		—	—		15
Other comprehensive income	—	—		—		308		—		—	—		—
Cash dividends declared(a)	—	—		—		—		(4,906)		—	—		—

Stock compensation	—	—		340		—		—		(8)	111		—

Distributions	—	—		—		—		—		—	—		(17)
Balance at December 31, 2024	2,923	$	292	$	46,024	$	(1,238)	$	14,912	894	$	(43,655)	$	53

(a) Cash dividends declared per common share were $2.42 in 2024, $2.31 in 2023 and $2.19 in 2022.

Schedule of Comprehensive Income (Loss)

The components of Other comprehensive income/(loss) were as follows:


	Year Ended December 31,
	2024						2023						2022
Dollars in millions	Pretax		Tax		After Tax		Pretax		Tax		After Tax		Pretax		Tax		After Tax
Derivatives qualifying as cash flow hedges:
Recognized in other comprehensive income/(loss)	$	495	$	(86)	$	409	$	70	$	(12)	$	58	$	585	$	(79)	$	506
Reclassified to net earnings(a)	(33)		(2)		(35)		(334)		46		(288)		(524)		72		(452)
Derivatives qualifying as cash flow hedges	462		(88)		374		(264)		34		(230)		61		(7)		54

Pension and postretirement benefits:
Actuarial gains/(losses)	(44)		16		(28)		(140)		25		(115)		146		(25)		121
Amortization(b)	8		(1)		7		—		—		—		21		(6)		15
Settlements(b)	119		(8)		111		—		—		—		11		(2)		9
Pension and postretirement benefits	83		7		90		(140)		25		(115)		178		(33)		145

Marketable debt securities:
Unrealized gains/(losses)	—		—		—		3		(1)		2		(2)		—		(2)

Foreign currency translation	(136)		(20)		(156)		84		(6)		78		(183)		(27)		(210)

Other comprehensive income/(loss)	$	409	$	(101)	$	308	$	(317)	$	52	$	(265)	$	54	$	(67)	$	(13)

(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	2024		2023
Derivatives qualifying as cash flow hedges	$	376	$	2
Pension and postretirement benefits	(648)		(738)
Marketable debt securities	2		2
Foreign currency translation(a)	(968)		(812)
Accumulated other comprehensive loss	$	(1,238)	$	(1,546)

(a) Includes net investment hedge gains of $210 million and $144 million as of December 31, 2024 and December 31, 2023, respectively.