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EQUITY
 6 Months Ended
Jun. 30, 2019
Equity [Abstract]  
Stockholders' Equity Note Disclosure [Text Block] EQUITY

The following table summarizes changes in equity for the six months ended June 30, 2019:
 
Common Stock
 
Capital in Excess
of Par Value
of Stock
 
Accumulated Other Comprehensive Loss
 
Retained
Earnings
 
Treasury Stock
 
Noncontrolling
Interest
Dollars and Shares in Millions
Shares
 
Par Value
 
Shares
 
Cost
 
Balance at December 31, 2018
2,208

 
$
221

 
$
2,081

 
$
(2,762
)
 
$
34,065

 
576

 
$
(19,574
)
 
$
96

Accounting change - cumulative effect(a)
—

 
—

 
—

 
—

 
5

 
—

 
—

 
—

Adjusted balance at January 1, 2019
2,208

 
221

 
2,081

 
(2,762
)
 
34,070

 
576

 
(19,574
)
 
96

Net earnings
—

 
—

 
—

 
—

 
1,710

 
—

 
—

 
5

Other Comprehensive Income/(Loss)
—

 
—

 
—

 
118

 
—

 
—

 
—

 
—

Cash dividends declared(b)
—

 
—

 
—

 
—

 
(671
)
 
—

 
—

 
—

Stock compensation
—

 
—

 
22

 
—

 
—

 
(4
)
 
3

 
—

Distributions
—

 
—

 
—

 
—

 
—

 
—

 
—

 
(2
)
Balance at March 31, 2019
2,208

 
$
221

 
$
2,103

 
$
(2,644
)
 
$
35,109

 
572

 
$
(19,571
)
 
$
99

Net earnings
—

 
—

 
—

 
—

 
1,432

 
—

 
—

 
7

Other Comprehensive Income/(Loss)
—

 
—

 
—

 
23

 
—

 
—

 
—

 
—

Cash dividends declared(b)
—

 
—

 
—

 
—

 
(671
)
 
—

 
—

 
—

Stock compensation
—

 
—

 
47

 
—

 
—

 
—

 
—

 
—

Distributions
—

 
—

 
—

 
—

 
—

 
—

 
—

 
(4
)
Balance at June 30, 2019
2,208

 
$
221

 
$
2,150

 
$
(2,621
)
 
$
35,870

 
572

 
$
(19,571
)
 
$
102

(a)
Refer to “—Note 1. Basis of Presentation and Recently Issued Accounting Standards” for additional information.
(b)
Cash dividends declared per common share were $0.41 for the three months ended March 31, 2019 and June 30, 2019.

The following table summarizes changes in equity for the six months ended June 30, 2018:
 
Common Stock
 
Capital in Excess
of Par Value
of Stock
 
Accumulated Other Comprehensive Loss
 
Retained
Earnings
 
Treasury Stock
 
Noncontrolling
Interest
Dollars and Shares in Millions
Shares
 
Par Value
 
Shares
 
Cost
 
Balance at December 31, 2017
2,208

 
$
221

 
$
1,898

 
$
(2,289
)
 
$
31,160

 
575

 
$
(19,249
)
 
$
106

Accounting change - cumulative effect(a)
—

 
—

 
—

 
(34
)
 
332

 
—

 
—

 
—

Adjusted balance at January 1, 2018
2,208

 
$
221

 
$
1,898

 
$
(2,323
)
 
$
31,492

 
575

 
$
(19,249
)
 
$
106

Net earnings
—

 
—

 
—

 
—

 
1,486

 
—

 
—

 
9

Other Comprehensive Income/(Loss)
—

 
—

 
—

 
89

 
—

 
—

 
—

 
—

Cash dividends declared(b)
—

 
—

 
—

 
—

 
(655
)
 
—

 
—

 
—

Stock repurchase program
—

 
—

 
—

 
—

 
—

 
3

 
(166
)
 
—

Stock compensation
—

 
—

 
18

 
—

 
—

 
(4
)
 
(18
)
 
—

Distributions
—

 
—

 
—

 
—

 
—

 
—

 
—

 
(2
)
Balance at March 31, 2018
2,208

 
$
221

 
$
1,916

 
$
(2,234
)
 
$
32,323

 
574

 
$
(19,433
)
 
$
113

Net earnings
—

 
—

 
—

 
—

 
373

 
—

 
—

 
9

Other Comprehensive Income/(Loss)
—

 
—

 
—

 
(100
)
 
—

 
—

 
—

 
—

Cash dividends declared(b)
—

 
—

 
—

 
—

 
(652
)
 
—

 
—

 
—

Stock repurchase program
—

 
—

 
—

 
—

 
—

 
2

 
(147
)
 
—

Stock compensation
—

 
—

 
50

 
—

 
—

 
—

 
—

 
—

Distributions
—

 
—

 
—

 
—

 
—

 
—

 
—

 
(21
)
Balance at June 30, 2018
2,208

 
$
221

 
$
1,966

 
$
(2,334
)
 
$
32,044

 
576

 
$
(19,580
)
 
$
101


(a)
Refer to “—Note 1. Accounting Policies and Recently Issued Accounting Standards” in the Company's 2018 Form 10-K for additional information.
(b)
Cash dividends declared per common share were $0.40 for the three months ended March 31, 2018 and June 30, 2018.

The Company has a stock repurchase program authorized by its Board of Directors allowing for repurchases in the open market or through private transactions, including plans established in accordance with Rule 10b5-1 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”). The stock repurchase program does not have an expiration date and may be suspended or discontinued at any time. Treasury stock is recognized at the cost to reacquire the shares. Shares issued from treasury are recognized utilizing the first-in first-out method.

The components of Other Comprehensive Income/(Loss) were as follows:
 
2019
 
2018
Dollars in Millions
Pretax
 
Tax
 
After tax
 
Pretax
 
Tax
 
After tax
Three Months Ended June 30,
 
 
 
 
 
 
 
 
 
 
 
Derivatives qualifying as cash flow hedges:
 
 
 
 
 
 
 
 
 
 
 
Unrealized gains/(losses)
$
(6
)
 
$
1

 
$
(5
)
 
$
83

 
$
(10
)
 
$
73

Reclassified to net earnings(a)
(26
)
 
3

 
(23
)
 
13

 
(1
)
 
12

Derivatives qualifying as cash flow hedges
(32
)
 
4

 
(28
)
 
96

 
(11
)
 
85

 
 
 
 
 
 
 
 
 
 
 
 
Pension and postretirement benefits:
 
 
 
 
 
 
 
 
 
 
 
Actuarial (losses)/gains
(12
)
 
3

 
(9
)
 
—

 
—

 
—

Amortization(b)
16

 
(2
)
 
14

 
16

 
(3
)
 
13

Settlements(b)
44

 
(10
)
 
34

 
38

 
(8
)
 
30

Pension and postretirement benefits
48

 
(9
)
 
39

 
54

 
(11
)
 
43

 
 
 
 
 
 
 
 
 
 
 
 
Available-for-sale securities:
 
 
 
 
 
 
 
 
 
 
 
Unrealized gains/(losses)
13

 
—

 
13

 
(8
)
 
1

 
(7
)
 
 
 
 
 
 
 
 
 
 
 
 
Foreign currency translation
(3
)
 
2

 
(1
)
 
(204
)
 
(17
)
 
(221
)
 
 
 
 
 
 
 
 
 
 
 
 
Total Other Comprehensive Income/(Loss)
$
26

 
$
(3
)
 
$
23

 
$
(62
)
 
$
(38
)
 
$
(100
)
 
 
 
 
 
 
 
 
 
 
 
 
Six Months Ended June 30,
 
 
 
 
 
 
 
 
 
 
 
Derivatives qualifying as cash flow hedges:
 
 
 
 
 
 
 
 
 
 
 
Unrealized gains/(losses)
$
39

 
$
(4
)
 
$
35

 
$
45

 
$
(4
)
 
$
41

Reclassified to net earnings(a)
(56
)
 
7

 
(49
)
 
33

 
(8
)
 
25

Derivatives qualifying as cash flow hedges
(17
)
 
3

 
(14
)
 
78

 
(12
)
 
66

 
 
 
 
 
 
 
 
 
 
 
 
Pension and postretirement benefits:
 
 
 
 
 
 
 
 
 
 
 
Actuarial (losses)/gains
(14
)
 
3

 
(11
)
 
112

 
(24
)
 
88

Amortization(b)
33

 
(6
)
 
27

 
36

 
(6
)
 
30

Settlements(b)
93

 
(21
)
 
72

 
69

 
(15
)
 
54

Pension and postretirement benefits
112

 
(24
)
 
88

 
217

 
(45
)
 
172

 
 
 
 
 
 
 
 
 
 
 
 
Available-for-sale securities:
 
 
 
 
 
 
 
 
 
 
 
Unrealized gains/(losses)
36

 
—

 
36

 
(40
)
 
7

 
(33
)
Realized losses
3

 
—

 
3

 
—

 
—

 
—

Available-for-sale securities
39

 
—

 
39

 
(40
)
 
7

 
(33
)
 
 
 
 
 
 
 
 
 
 
 
 
Foreign currency translation
29

 
(1
)
 
28

 
(211
)
 
(5
)
 
(216
)
 
 
 
 
 
 
 
 
 
 
 
 
Total Other Comprehensive Income/(Loss)
$
163

 
$
(22
)
 
$
141

 
$
44

 
$
(55
)
 
$
(11
)
(a)
Included in Cost of products sold.
(b)
Included in Other income (net).

The accumulated balances related to each component of Other Comprehensive Income/(Loss), net of taxes, were as follows:
Dollars in Millions
June 30,
2019
 
December 31,
2018
Derivatives qualifying as cash flow hedges
$
37

 
$
51

Pension and postretirement benefits
(2,014
)
 
(2,102
)
Available-for-sale securities
9

 
(30
)
Foreign currency translation
(653
)
 
(681
)
Accumulated other comprehensive loss
$
(2,621
)
 
$
(2,762
)