EQUITY (Tables)

12 Months Ended

Dec. 31, 2021


	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 January 1, 2019	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	—	—		—		—		3,439		—	—		21
Other Comprehensive Income/(Loss)	—	—		—		1,242		—		—	—		—
Celgene acquisition	715	71		42,721		—		—		—	—		—
Cash dividends declared(b)	—	—		—		—		(3,035)		—	—		—
Share repurchase program	—	—		(1,400)		—		—		105	(5,900)		—
Stock compensation	—	—		307		—		—		(9)	117		—


Distributions	—	—		—		—		—		—	—		(17)
Balance at December 31, 2019	2,923	292		43,709		(1,520)		34,474		672	(25,357)		100


Net loss	—	—		—		—		(9,015)		—	—		20
Other Comprehensive Income/(Loss)	—	—		—		(319)		—		—	—		—

Cash dividends declared(b)	—	—		—		—		(4,178)		—	—		—
Share repurchase program	—	—		1,400		—		—		43	(2,993)		—
Stock compensation	—	—		(784)		—		—		(36)	2,113		—

Distributions	—	—		—		—		—		—	—		(60)
Balance at December 31, 2020	2,923	292		44,325		(1,839)		21,281		679	(26,237)		60
Net earnings	—	—		—		—		6,994		—	—		20
Other Comprehensive Income/(Loss)	—	—		—		571		—		—	—		—

Cash dividends declared(b)	—	—		—		—		(4,455)		—	—		—
Share repurchase program	—	—		—		—		—		102	(6,240)		—
Stock compensation	—	—		36		—		—		(34)	1,218		—
Distributions	—	—		—		—		—		—	—		(20)
Balance at December 31, 2021	2,923	$	292	$	44,361	$	(1,268)	$	23,820	747	$	(31,259)	$	60

(a) Cumulative effect resulting from adoption of ASU 2014-09 and ASU 2016-02.

(b) Cash dividends declared per common share were $2.01 in 2021, $1.84 in 2020 and $1.68 in 2019.

Schedule of Comprehensive Income (Loss)

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


	Year Ended December 31,
	2021						2020						2019
Dollars in Millions	Pretax		Tax		After Tax		Pretax		Tax		After Tax		Pretax		Tax		After Tax
Derivatives qualifying as cash flow hedges:
Unrealized gains/(losses)	$	364	$	(34)	$	330	$	(216)	$	7	$	(209)	$	65	$	(7)	$	58
Reclassified to net earnings(a)	95		(10)		85		(54)		7		(47)		(103)		13		(90)
Derivatives qualifying as cash flow hedges	459		(44)		415		(270)		14		(256)		(38)		6		(32)

Pension and postretirement benefits:
Actuarial gains/(losses)	220		(40)		180		(134)		25		(109)		(143)		28		(115)
Amortization(b)	41		(10)		31		33		(6)		27		55		(11)		44
Settlements(b)	(6)		1		(5)		10		(3)		7		1,640		(366)		1,274
Pension and postretirement benefits	255		(49)		206		(91)		16		(75)		1,552		(349)		1,203

Marketable debt securities:
Unrealized (losses)gains	(11)		2		(9)		7		(1)		6		42		(9)		33
Realized (gains)/losses(b)	—		—		—		(1)		—		(1)		3		—		3
Marketable debt securities	(11)		2		(9)		6		(1)		5		45		(9)		36

Foreign currency translation	(14)		(27)		(41)		(19)		26		7		43		(8)		35

Other Comprehensive Income/(Loss)	$	689	$	(118)	$	571	$	(374)	$	55	$	(319)	$	1,602	$	(360)	$	1,242

(a) Included in Cost of products sold.

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

Schedule of Accumulated Other Comprehensive Income (Loss)

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


	December 31,
Dollars in Millions	2021		2020
Derivatives qualifying as cash flow hedges	$	178	$	(237)
Pension and postretirement benefits	(768)		(974)
Marketable debt securities	2		11
Foreign currency translation	(680)		(639)
Accumulated other comprehensive loss	$	(1,268)	$	(1,839)