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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)
Noncontrolling Interests
Beginning balance at Dec. 31, 2022   $ 1,466 $ 3,546 $ (1) $ (25,128) $ 24,573 $ (4,055) [1] $ 405
Changes in Shareholders' Equity [Roll Forward]                
Net income $ 948         874   74
Other comprehensive income (loss), net of tax 79           120 [1] (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)      
Ending balance at Jun. 30, 2023   1,466 3,688 0 (25,541) 24,258 (3,935) [1],[3] 379
Beginning balance at Mar. 31, 2023   1,466 3,603 0 (25,245) 24,153 (3,983) [3] 431
Changes in Shareholders' Equity [Roll Forward]                
Net income 534         502   32
Other comprehensive income (loss), net of tax 23           48 [3] (25)
Dividends (59)         (397)    
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   1,466 3,688 0 (25,541) 24,258 (3,935) [1],[3] 379
Beginning balance at Dec. 31, 2023 957 1,466 3,808 0 (26,017) 25,289 (3,937) 348
Changes in Shareholders' Equity [Roll Forward]                
Net income 1,495         1,414   81
Other comprehensive income (loss), net of tax (199)           (191) (8)
Dividends           (1,217)   (63)
Stock-based compensation expense     43          
Shares issued for stock options     202   250      
Shares issued for restricted stock units     (22)   22      
Treasury stock acquired         (989)      
Other     4   (2)     1
Ending balance at Jun. 30, 2024 482 1,466 4,035 0 (26,736) 25,486 (4,128) [3] 359
Beginning balance at Mar. 31, 2024   1,466 3,962 0 (26,343) 25,164 (4,019) [3] 387
Changes in Shareholders' Equity [Roll Forward]                
Net income 767         731   36
Other comprehensive income (loss), net of tax (110)           (109) [3] (1)
Dividends           (409)   (63)
Stock-based compensation expense     24          
Shares issued for stock options     48   87      
Shares issued for restricted stock units     (1)   1      
Treasury stock acquired         (480)      
Other     2   (1)      
Ending balance at Jun. 30, 2024 $ 482 $ 1,466 $ 4,035 $ 0 $ (26,736) $ 25,486 $ (4,128) [3] $ 359
[1] Accumulated other comprehensive income (loss) includes cumulative translation losses of $3,555 at June 30, 2024 ($3,381 at June 30, 2023) and $3,351 at December 31, 2023 ($3,491 at December 31, 2022), respectively, and unrecognized retirement plan and other retiree benefits costs of $636 at June 30, 2024 ($618 at June 30, 2023) and $647 at December 31, 2023 ($631 at December 31, 2022), respectively.
[2] Two dividends were declared in each of the first quarters of 2024 and 2023.
[3] Accumulated other comprehensive income (loss) includes cumulative translation losses of $3,555 at June 30, 2024 ($3,381 at June 30, 2023) and $3,438 at March 31, 2024 ($3,431 at March 31, 2023), respectively, and unrecognized retirement plan and other retiree benefits costs of $636 at June 30, 2024 ($618 at June 30, 2023) and $643 at March 31, 2024 ($624 at March 31, 2023), respectively.