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Condensed Consolidated Statements of Changes in Shareholders’ Equity - USD ($)
$ in Millions
Total
Common Stock
Additional Paid-in Capital
Treasury Stock
Retained Earnings
Accumulated Other Comprehensive Income (Loss)
Noncontrolling Interests
Beginning balance at Dec. 31, 2023   $ 1,466 $ 3,808 $ (26,017) $ 25,289 $ (3,937) [1] $ 348
Changes in Shareholders' Equity [Roll Forward]              
Net income $ 729       683   46
Other comprehensive income (loss), net of tax (89)         (82) [1] (7)
Dividends [2]         (808)    
Stock-based compensation expense     19        
Shares issued for stock options     154 163      
Shares issued for restricted stock units     (21) 21      
Treasury stock acquired       (509)      
Other     2 (1)      
Ending balance at Mar. 31, 2024   1,466 3,962 (26,343) 25,164 (4,019) [1] 387
Beginning balance at Dec. 31, 2024 544 1,466 4,181 (27,358) 26,145 (4,222) [1] 332
Changes in Shareholders' Equity [Roll Forward]              
Net income 726       690   36
Other comprehensive income (loss), net of tax 107         105 [1] 2
Dividends [2]         (422)    
Stock-based compensation expense     23        
Shares issued for stock options     18 22      
Shares issued for restricted stock units     (21) 21      
Treasury stock acquired       (284)      
Other     1 (3)   1  
Ending balance at Mar. 31, 2025 $ 733 $ 1,466 $ 4,202 $ (27,602) $ 26,413 $ (4,116) [1] $ 370
[1] Accumulated other comprehensive income (loss) includes cumulative translation losses of $3,575 at March 31, 2025 ($3,438 at March 31, 2024) and $3,687 at December 31, 2024 ($3,351 at December 31, 2023), and unrecognized retirement plan and other retiree benefits costs of $600 at March 31, 2025 ($643 at March 31, 2024) and $605 at December 31, 2024 ($647 at December 31, 2023).
[2] Two dividends were declared in the first quarter of 2024.