Equity and Accumulated Other Comprehensive Earnings (Loss) (Tables)

3 Months Ended

Mar. 31, 2023

Equity and Accumulated Other Comprehensive Earnings (Loss)

Schedule of company's equity activity

	Common Stock			Treasury Stock					Accumulated Other
	Number of			Number of			Retained		Comprehensive		Noncontrolling		Total
($ in millions; share amounts in thousands)	Shares	Amount		Shares	Amount		Earnings		Earnings (Loss)		Interest		Equity
Balance at December 31, 2022	682,144	$	1,260	(368,036)	$	(4,429)	$	7,309	$	(679)	$	66	$	3,527
Net earnings	—		—	—		—		177		—		3		180
Other comprehensive earnings (loss), net of tax	—		—	—		—		—		42		—		42
Common dividends, net of tax benefits	—		—	—		—		(63)		—		—		(63)
Treasury stock purchases	—		—	(39)		(3)		—		—		—		(3)
Treasury shares reissued	—		—	146		8		—		—		—		8
Shares issued and stock compensation for stock options and other stock plans, net of shares exchanged	272		8	—		—		—		—		—		8
Other activity	—		—	—		10		(1)		—		—		9
Balance at March 31, 2023	682,416	$	1,268	(367,929)	$	(4,414)	$	7,422	$	(637)	$	69	$	3,708

	Common Stock			Treasury Stock					Accumulated Other
	Number of			Number of			Retained		Comprehensive		Noncontrolling		Total
($ in millions; share amounts in thousands)	Shares	Amount		Shares	Amount		Earnings		Earnings (Loss)		Interest		Equity
Balance at December 31, 2021	680,945	$	1,220	(360,101)	$	(3,854)	$	6,843	$	(582)	$	58	$	3,685
Net earnings	—		—	—		—		446		—		1		447
Other comprehensive earnings (loss), net of tax	—		—	—		—		—		(29)		—		(29)
Common dividends, net of tax benefits	—		—	—		—		(65)		—		—		(65)
Treasury stock purchases	—		—	(1,147)		(102)		—		—		—		(102)
Treasury shares reissued	—		—	151		9		—		—		—		9
Shares issued and stock compensation for stock options and other stock plans, net of shares exchanged	791		6	—		—		—		—		—		6
Other activity	—		—	—		6		—		—		—		6
Balance at March 31, 2022	681,736	$	1,226	(361,097)	$	(3,941)	$	7,224	$	(611)	$	59	$	3,957

Schedule of activity related to accumulated other comprehensive earnings (loss)

($ in millions)	​ Currency Translation (Net of Tax)		Pension and Other Postretirement Benefits (Net of Tax)		Derivatives Designated as Hedges (Net of Tax)		Accumulated Other Comprehensive Earnings (Loss)
Balance at December 31, 2022	$	(434)	$	(227)	$	(18)	$	(679)
Other comprehensive earnings (loss) before reclassifications		20		—		9		29
Amounts reclassified into earnings		—		1		12		13
Balance at March 31, 2023	$	(414)	$	(226)	$	3	$	(637)

Information related to amounts reclassified into net earnings from accumulated other comprehensive earnings (loss)

	Three Months Ended March 31,
($  in millions)	2023		2022
Gains (losses) on cash flow hedges:
Commodity contracts recorded in net sales	$	(13)	$	(31)
Commodity contracts recorded in cost of sales		—		35
Currency exchange contracts recorded in selling, general and administrative		(3)		28
Interest rate contracts recorded in interest expense		—		1
Total before tax effect		(16)		33
Tax benefit (expense) on amounts reclassified into earnings		4		(8)
Recognized gain (loss), net of tax	$	(12)	$	25
Amortization of pension and other postretirement benefits: (a)
Actuarial gains (losses)	$	(1)	$	(8)
Prior service income (expense)		(1)		(1)
Total before tax effect		(2)		(9)
Tax benefit (expense) on amounts reclassified into earnings		1		2
Recognized gain (loss), net of tax	$	(1)	$	(7)

(a) These components are included in the computation of net periodic benefit cost detailed in Note 17.