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Condensed Consolidated Statements of Changes in Shareholders’ Equity - USD ($)
$ in Millions
Total
Common Stock
Additional Paid-in Capital
Unearned Compensation
Treasury Stock
Retained Earnings
Accumulated Other Comprehensive Income (Loss)
[1]
Noncontrolling Interests
Beginning balance at Dec. 31, 2022   $ 1,466 $ 3,546 $ (1) $ (25,128) $ 24,573 $ (4,055) $ 405
Changes in Shareholders' Equity [Roll Forward]                
Net income $ 414         372   42
Other comprehensive income (loss), net of tax 56           72 (16)
Dividends [2]           (792)    
Stock-based compensation expense     14          
Shares issued for stock options     54   50      
Shares issued for restricted stock units     (13)   13      
Treasury stock acquired         (180)      
Other     2 1        
Ending balance at Mar. 31, 2023   1,466 3,603 0 (25,245) 24,153 (3,983) 431
Beginning balance at Dec. 31, 2023 957 1,466 3,808 0 (26,017) 25,289 (3,937) 348
Changes in Shareholders' Equity [Roll Forward]                
Net income 729         683   46
Other comprehensive income (loss), net of tax (89)           (82) (7)
Dividends [2]           (808)   0
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 $ 617 $ 1,466 $ 3,962 $ 0 $ (26,343) $ 25,164 $ (4,019) $ 387
[1] Accumulated other comprehensive income (loss) includes cumulative translation losses of $3,438 at March 31, 2024 ($3,431 at March 31, 2023) and $3,351 at December 31, 2023 ($3,491 at December 31, 2022), respectively, and unrecognized retirement plan and other retiree benefits costs of $643 at March 31, 2024 ($624 at March 31, 2023) and $647 at December 31, 2023 ($631 at December 31, 2022), respectively.
[2] Two dividends were declared in the first quarter of each of 2024 and 2023.