EQUITY (Tables)

9 Months Ended

Sep. 30, 2020

Equity [Abstract]

Schedule of Stock by Class [Table Text Block]

The following table summarizes changes in equity for the nine months ended September 30, 2020:

	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, 2019	2,923	$	292	$	43,709	$	(1,520)	$	34,474	672	$	(25,357)	$	100
Net loss	—	—		—		—		(775)		—	—		9
Other Comprehensive Loss	—	—		—		(29)		—		—	—		—
Cash dividends declared(a)	—	—		—		—		(1,028)		—	—		—
Share repurchase program	—	—		—		—		—		1	(81)		—
Stock compensation	—	—		(455)		—		—		(13)	681		—
Distributions	—	—		—		—		—		—	—		(43)
Balance at March 31, 2020	2,923	292		43,254		(1,549)		32,671		660	(24,757)		66
Net loss	—	—		—		—		(85)		—	—		5
Other Comprehensive Loss	—	—		—		(7)		—		—	—		—
Cash dividends declared(a)	—	—		—		—		(1,021)		—	—		—
Stock repurchase program	—	—		1,400		—		—		16	(1,400)		—
Stock compensation	—	—		(210)		—		—		(7)	506		—
Distributions	—	—		—		—		—		—	—		(5)
Balance at June 30, 2020	2,923	292		44,444		(1,556)		31,565		669	(25,651)		66
Net earnings	—	—		—		—		1,872		—	—		6
Other Comprehensive Loss	—	—		—		(143)		—		—	—		—
Cash dividends declared(a)	—	—		—		—		(1,023)		—	—		—
Stock repurchase program	—	—		—		—		—		—	—		—
Stock compensation	—	—		(9)		—		—		(6)	367		—
Distributions	—	—		—		—		—		—	—		—
Balance at September 30, 2020	2,923	$	292	$	44,435	$	(1,699)	$	32,414	663	$	(25,284)	$	72

(a)    Cash dividends declared per common share were $0.45 for the three months ended March 31, 2020, June 30, 2020 and September 30, 2020.

The following table summarizes changes in equity for the nine months ended September 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	—	—		—		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	—	—		—		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
Net earnings	—	—		—		—		1,353		—	—		13
Other Comprehensive Income	—	—		—		1,158		—		—	—		—
Cash dividends declared(b)	—	—		—		—		(668)		—	—		—
Stock repurchase program	—	—		—		—		—		7	(300)		—
Stock compensation	—	—		56		—		—		—	—		—
Distributions	—	—		—		—		—		—	—		(9)
Balance at September 30, 2019	2,208	$	221	$	2,206	$	(1,463)	$	36,555	579	$	(19,871)	$	106

(a)    Refer to “—Note 1. Accounting Policies and Recently Issued Accounting Standards” in the Company’s 2019 Form 10-K for additional information.

(b)    Cash dividends declared per common share were $0.41 for the three months ended March 31, 2019, June 30, 2019 and September 30, 2019.

Schedule of Comprehensive Income Loss [Table Text Block]

The components of Other Comprehensive (Loss)/Income were as follows:

	2020						2019
Dollars in Millions	Pretax		Tax		After Tax		Pretax		Tax		After Tax
Three Months Ended September 30,
Derivatives qualifying as cash flow hedges:
Unrealized gain/(losses)	$	(128)	$	10	$	(118)	$	63	$	(8)	$	55
Reclassified to net earnings(a)	(17)		3		(14)		(20)		3		(17)
Derivatives qualifying as cash flow hedges	(145)		13		(132)		43		(5)		38
Pension and postretirement benefits:
Actuarial losses	(16)		3		(13)		(126)		27		(99)
Amortization(b)	9		(2)		7		12		(2)		10
Settlements(b)	3		(1)		2		1,550		(345)		1,205
Pension and postretirement benefits	(4)		—		(4)		1,436		(320)		1,116
Available-for-sale debt securities:
Unrealized gains/(losses)	(4)		2		(2)		6		(2)		4
Foreign currency translation	(16)		11		(5)		10		(10)		—
Other Comprehensive (Loss)/Income	$	(169)	$	26	$	(143)	$	1,495	$	(337)	$	1,158
Nine Months Ended September 30,
Derivatives qualifying as cash flow hedges:
Unrealized gains/(losses)	$	(65)	$	4	$	(61)	$	102	$	(12)	$	90
Reclassified to net earnings(a)	(69)		9		(60)		(76)		10		(66)
Derivatives qualifying as cash flow hedges	(134)		13		(121)		26		(2)		24
Pension and postretirement benefits:
Actuarial losses	(28)		6		(22)		(140)		30		(110)
Amortization(b)	27		(5)		22		45		(8)		37
Settlements(b)	7		(2)		5		1,643		(366)		1,277
Pension and postretirement benefits	6		(1)		5		1,548		(344)		1,204
Available-for-sale securities:
Unrealized gains	10		(2)		8		42		(2)		40
Realized gains/(losses)	(1)		—		(1)		3		—		3
Available-for-sale securities	9		(2)		7		45		(2)		43
Foreign currency translation	(81)		11		(70)		39		(11)		28
Total Other Comprehensive (Loss)/Income	$	(200)	$	21	$	(179)	$	1,658	$	(359)	$	1,299

(a)Included in Cost of products sold.

(b)Included in Other (income)/expense, net.

Schedule of Accumulated Other Comprehensive Income Loss [Table Text Block]

The accumulated balances related to each component of Other Comprehensive (Loss)/Income, net of taxes, were as follows:

Dollars in Millions	September 30, 2020		December 31, 2019
Derivatives qualifying as cash flow hedges	$	(102)	$	19
Pension and postretirement benefits	(894)		(899)
Available-for-sale debt securities	13		6
Foreign currency translation	(716)		(646)
Accumulated other comprehensive loss	$	(1,699)	$	(1,520)