Schedule of change impacted previously reported amounts |
The election of this change impacted previously reported amounts included herein as indicated in the tables below:
Consolidated Statements of Income | | | | | | | | | | | | | | | | | | | | | | | | | Year ended December 31, 2021 | | Year ended December 31, 2020 | In millions, except per share data | Under prior method | | As restated | | Under prior method | | As restated | Other components of net periodic benefit income | $ | 398 | | | $ | 407 | | | $ | 315 | | | $ | 292 | | Income before income taxes | $ | 6,333 | | | $ | 6,342 | | | $ | 4,544 | | | $ | 4,521 | | Income tax expense | $ | (1,441) | | | $ | (1,443) | | | $ | (982) | | | $ | (976) | | Net income | $ | 4,892 | | | $ | 4,899 | | | $ | 3,562 | | | $ | 3,545 | | | | | | | | | | Earnings per share: | | | | | | | | Basic | $ | 6.90 | | | $ | 6.91 | | | $ | 5.01 | | | $ | 4.98 | | Diluted | $ | 6.89 | | | $ | 6.90 | | | $ | 5.00 | | | $ | 4.97 | |
Consolidated Statements of Other Comprehensive Income | | | | | | | | | | | | | | | | | | | | | | | | | Year ended December 31, 2021 | | Year ended December 31, 2020 | In millions | Under prior method | | As restated | | Under prior method | | As restated | Net income | $ | 4,892 | | | $ | 4,899 | | | $ | 3,562 | | | $ | 3,545 | | Net change in pension and other postretirement benefit plans | $ | 2,075 | | | $ | 2,066 | | | $ | 160 | | | $ | 183 | | Other comprehensive income before income taxes | $ | 2,023 | | | $ | 2,014 | | | $ | 78 | | | $ | 101 | | Income tax expense | $ | (546) | | | $ | (544) | | | $ | (67) | | | $ | (73) | | Other comprehensive loss | $ | 1,477 | | | $ | 1,470 | | | $ | 11 | | | $ | 28 | | | | | | | | | | | | | | | | | |
Consolidated Balance Sheets | | | | | | | | | | | | | | | | | As at December 31, 2021 | | | In millions | Under prior method | | As restated | | | | | Accumulated other comprehensive loss | $ | (1,995) | | | $ | (2,241) | | | | | | Retained earnings | $ | 20,741 | | | $ | 20,987 | | | | | | | | | | | | | |
Consolidated Statements of Changes in Shareholders' Equity
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Under prior method | | As restated | In millions | | | | | Accumulated other comprehensive loss | | Retained earnings | | Total shareholders' equity | | Accumulated other comprehensive loss | | Retained earnings | | Total shareholders' equity | Balance at December 31, 2019 (1) | | | | | $ | (3,483) | | | $ | 17,634 | | | $ | 18,041 | | | $ | (3,739) | | | $ | 17,890 | | | $ | 18,041 | | Net income | | | | | | | $ | 3,562 | | | $ | 3,562 | | | | | $ | 3,545 | | | $ | 3,545 | | Other comprehensive income | | | | | $ | 11 | | | | | $ | 11 | | | $ | 28 | | | | | $ | 28 | | Balance at December 31, 2020 | | | | | $ | (3,472) | | | $ | 19,161 | | | $ | 19,651 | | | $ | (3,711) | | | $ | 19,400 | | | $ | 19,651 | | Net income | | | | | | | $ | 4,892 | | | $ | 4,892 | | | | | $ | 4,899 | | | $ | 4,899 | | Other comprehensive loss | | | | | $ | 1,477 | | | | | $ | 1,477 | | | $ | 1,470 | | | | | $ | 1,470 | | Balance at December 31, 2021 | | | | | $ | (1,995) | | | $ | 20,741 | | | $ | 22,744 | | | $ | (2,241) | | | $ | 20,987 | | | $ | 22,744 | | | | | | | | | | | | | | | | | |
(1)The cumulative adjustment as at December 31, 2019, the beginning of the earliest period presented in the consolidated financial statements included herein, was a $256 million increase to each of Retained earnings and Accumulated other comprehensive loss.
Consolidated Statements of Cash Flows | | | | | | | | | | | | | | | | | | | | | | | | | Year ended December 31, 2021 | | Year ended December 31, 2020 | In millions | Under prior method | | As restated | | Under prior method | | As restated | Net income | $ | 4,892 | | | $ | 4,899 | | | $ | 3,562 | | | $ | 3,545 | | Pension income and funding | $ | (305) | | | $ | (314) | | | $ | (234) | | | $ | (211) | | Deferred income taxes | $ | 511 | | | $ | 513 | | | $ | 487 | | | $ | 481 | | | | | | | | | |
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