v3.25.2
EQUITY (Tables)
 6 Months Ended
Jun. 30, 2025
Equity [Abstract]  
Schedule of Stock by Class
The following table summarizes changes in equity during the six months ended June 30, 2025:
Common StockCapital in Excess of Par Value of StockAccumulated Other Comprehensive LossRetained EarningsTreasury StockNoncontrolling Interest
Dollars and shares in millionsSharesPar ValueSharesCost
Balance at December 31, 20242,923 $292 $46,024 $(1,238)$14,912 894 $(43,655)$53 
Net earnings/(loss)— — — — 2,456 — — 6 
Other comprehensive income/(loss)
— — — (185)— — — — 
Cash dividends declared $0.62 per share
— — — — (1,262)— — — 
Stock compensation— — (13)— — (6)59 — 
Balance at March 31, 20252,923 $292 $46,011 $(1,424)$16,106 888 $(43,597)$59 
Net earnings/(loss)— — — — 1,310 — — 2 
Other comprehensive income/(loss)
— — — (130)— — — — 
Cash dividends declared $0.62 per share
— — — — (1,262)— — — 
Stock compensation— — 123 — — — 6 — 
Distributions— — — — — — — (8)
Balance at June 30, 20252,923 $292 $46,134 $(1,554)$16,154 888 $(43,590)$54 

The following table summarizes changes in equity during the six months ended June 30, 2024:
Common StockCapital in Excess of Par Value of StockAccumulated Other Comprehensive LossRetained EarningsTreasury StockNoncontrolling Interest
Dollars and shares in millionsSharesPar ValueSharesCost
Balance at December 31, 20232,923 $292 $45,684 $(1,546)$28,766 902 $(43,766)$55 
Net earnings/(loss)— — — — (11,911)— — 3 
Other comprehensive income/(loss)
— — — 146 — — — — 
Cash dividends declared $0.60 per share
— — — — (1,215)— — — 
Stock compensation— — (29)— — (6)69 — 
Balance at March 31, 20242,923 $292 $45,655 $(1,400)$15,640 896 $(43,697)$58 
Net earnings— — — — 1,680 — — 4 
Other comprehensive income/(loss)
— — — (56)— — — — 
Cash dividends declared $0.60 per share
— — — — (1,217)— — — 
Stock compensation— — 111 — — — 7 — 
Distributions— — — — — — — (8)
Balance at June 30, 20242,923 $292 $45,766 $(1,456)$16,103 896 $(43,690)$54 
Schedule of Comprehensive Income Loss
The components of Other comprehensive income/(loss) were as follows:
Three Months Ended June 30, 2025Six Months Ended June 30, 2025
Dollars in millionsPretaxTaxAfter TaxPretaxTaxAfter Tax
Derivatives qualifying as cash flow hedges:
Recognized in other comprehensive income/(loss)
$(229)$48 $(181)$(420)$85 $(335)
Reclassified to net earnings(a)
(59)12 (47)(136)28 (108)
Derivatives qualifying as cash flow hedges(288)60 (228)(556)113 (443)
Pension and postretirement benefits
Amortization(b)
2 — 2 4 (1)3 
Marketable debt securities
Unrealized gains/(losses)1 — 1 1 — 1 
Foreign currency translation81 14 95 90 32 122 
Other comprehensive income/(loss)$(204)$74 $(130)$(461)$144 $(316)

Three Months Ended June 30, 2024Six Months Ended June 30, 2024
Dollars in millionsPretaxTaxAfter TaxPretaxTaxAfter Tax
Derivatives qualifying as cash flow hedges:
Recognized in other comprehensive income/(loss)
$84 $(12)$72 $338 $(59)$279 
Reclassified to net earnings(a)
(20)2 (18)(35)1 (34)
Derivatives qualifying as cash flow hedges64 (10)54 303 (58)245 
Pension and postretirement benefits
Actuarial gains/(losses)(87)21 (66)(93)22 (71)
Amortization(b)
1 — 1 3 — 3 
Settlements(b)
— 1 1 19 (2)17 
Pension and postretirement benefits(86)22 (64)(71)20 (51)
Marketable debt securities
Unrealized gains/(losses)(1)1 — (3)1 (2)
Foreign currency translation(37)(9)(46)(81)(21)(102)
Other comprehensive income/(loss)$(60)$4 $(56)$148 $(58)$90 
(a)Included in Cost of products sold and Other (income)/expense, net. Refer to "—Note 9. Financial Instruments and Fair Value Measurements" for further information.
(b)Included in Other (income)/expense, net.
Schedule of Accumulated Other Comprehensive Income Loss
The accumulated balances related to each component of Other comprehensive income/(loss), net of taxes, were as follows:
Dollars in millionsJune 30,
2025		December 31,
2024
Derivatives qualifying as cash flow hedges$(67)$376 
Pension and postretirement benefits(645)(648)
Marketable debt securities3 2 
Foreign currency translation(a)
(846)(968)
Accumulated other comprehensive loss$(1,554)$(1,238)
(a)Includes net investment hedge gains of $102 million and $210 million as of June 30, 2025 and December 31, 2024, respectively.