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Condensed Consolidated Statements of Changes in Shareholders’ Equity - USD ($)
$ in Millions
Total
Common Stock
Additional Paid-in Capital
Unearned Compensation
Treasury Stock
Retained Earnings
Accumulated Other Comprehensive Income (Loss)
[1]
Noncontrolling Interests
Beginning balance at Dec. 31, 2021   $ 1,466 $ 3,269 $ (1) $ (24,089) $ 24,350 $ (4,386) $ 362
Changes in Shareholders' Equity [Roll Forward]                
Net income $ 1,242         1,162   80
Other comprehensive income (loss), net of tax 64           80 (16)
Dividends [2]           (1,170)   (42)
Stock-based compensation expense     45          
Shares issued for stock options     108   121      
Shares issued for restricted stock units     (23)   23      
Treasury stock acquired         (791)      
Other     3 1       6
Ending balance at Jun. 30, 2022   1,466 3,402 0 (24,736) 24,342 (4,306) 390
Beginning balance at Mar. 31, 2022   1,466 3,355 0 (24,401) 24,149 (4,248) 407
Changes in Shareholders' Equity [Roll Forward]                
Net income 639         603   36
Other comprehensive income (loss), net of tax (72)           (58) (14)
Dividends [2]           (410)   (42)
Stock-based compensation expense     16          
Shares issued for stock options     31   44      
Shares issued for restricted stock units     (1)   1      
Treasury stock acquired         (381)      
Other     1   1     3
Ending balance at Jun. 30, 2022   1,466 3,402 0 (24,736) 24,342 (4,306) 390
Beginning balance at Dec. 31, 2022 806 1,466 3,546 (1) (25,128) 24,573 (4,055) 405
Changes in Shareholders' Equity [Roll Forward]                
Net income 948         874   74
Other comprehensive income (loss), net of tax 79           120 (41)
Dividends [2]           (1,189)   (59)
Stock-based compensation expense     37          
Shares issued for stock options     116   127      
Shares issued for restricted stock units     (14)   14      
Treasury stock acquired         (551)      
Other     3 1 (3)     0
Ending balance at Jun. 30, 2023 315 1,466 3,688 0 (25,541) 24,258 (3,935) 379
Beginning balance at Mar. 31, 2023   1,466 3,603 0 (25,245) 24,153 (3,983) 431
Changes in Shareholders' Equity [Roll Forward]                
Net income 534         502   32
Other comprehensive income (loss), net of tax 23           48 (25)
Dividends [2]           (397)   (59)
Stock-based compensation expense     23          
Shares issued for stock options     62   77      
Shares issued for restricted stock units     (1)   1      
Treasury stock acquired         (371)      
Other     1   (3)      
Ending balance at Jun. 30, 2023 $ 315 $ 1,466 $ 3,688 $ 0 $ (25,541) $ 24,258 $ (3,935) $ 379
[1] Accumulated other comprehensive income (loss) includes cumulative translation losses of $3,381 at June 30, 2023 ($3,398 at June 30, 2022) and $3,431 at March 31, 2023 ($3,269 at March 31, 2022), respectively, and unrecognized retirement plan and other retiree benefits costs of $618 at June 30, 2023 ($1,015 at June 30, 2022) and $624 at March 31, 2023 ($1,030 at March 31, 2022), respectively.
[2] Two dividends were declared in each of the first quarters of 2023 and 2022.