v3.26.1
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (UNAUDITED) - USD ($)
$ in Millions
Total
Common stock
Additional paid-in capital
Retained earnings
Treasury common stock
Accumulated other comprehensive income (loss) – net
Equity attributable to noncontrolling interests
Beginning balance (in shares) at Dec. 31, 2024   276,000,000          
Beginning balance at Dec. 31, 2024 $ 10,593 $ 3 $ 9,733 $ 1,611 $ (43) $ (1,759) $ 1,047
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Issuance of shares in connection with equity awards (in shares)   2,000,000          
Issuance of shares in connection with equity awards (146)   (146)        
Share-based compensation expense 126   126        
Dividends declared (138)     (138)      
Repurchase of common stock (in shares)   (5,000,000)          
Repurchase of common stock (1,593)       (1,593)    
Net income (loss) 756     768     (12)
Currency translation adjustments – net of taxes 440         438 3
Benefit plans – net of taxes (158)         (159) 1
Cash flow hedges – net of taxes 35         35  
Changes attributable to noncontrolling interests 31           31
Ending balance (in shares) at Jun. 30, 2025   272,000,000          
Ending balance at Jun. 30, 2025 9,947 $ 3 9,714 2,241 (1,636) (1,445) 1,070
Beginning balance (in shares) at Mar. 31, 2025   273,000,000          
Beginning balance at Mar. 31, 2025 9,672 $ 3 9,654 1,865 (1,256) (1,660) 1,065
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Issuance of shares in connection with equity awards (11)   (11)        
Share-based compensation expense 70   70        
Dividends declared (138)     (138)      
Repurchase of common stock (in shares)   (1,000,000)          
Repurchase of common stock (381)       (381)    
Net income (loss) 492     514     (22)
Currency translation adjustments – net of taxes 287         286 1
Benefit plans – net of taxes (86)         (86)  
Cash flow hedges – net of taxes 14         14  
Changes attributable to noncontrolling interests 27           27
Ending balance (in shares) at Jun. 30, 2025   272,000,000          
Ending balance at Jun. 30, 2025 $ 9,947 $ 3 9,714 2,241 (1,636) (1,445) 1,070
Beginning balance (in shares) at Dec. 31, 2025 269,529,464 270,000,000          
Beginning balance at Dec. 31, 2025 $ 12,296 $ 3 9,813 6,154 (3,385) (1,407) 1,118
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Issuance of shares in connection with equity awards (in shares)   1,000,000          
Issuance of shares in connection with equity awards (503)   (503)        
Share-based compensation expense 135   135        
Dividends declared $ (271)     (271)      
Repurchase of common stock (in shares) (4,300,000) (4,000,000)          
Repurchase of common stock $ (3,672)       (3,672)    
Net income (loss) 5,398     5,413     (15)
Currency translation adjustments – net of taxes (155)         (155)  
Benefit plans – net of taxes (86)         (88) 1
Cash flow hedges – net of taxes (81)         (81)  
Changes attributable to noncontrolling interests $ 54           54
Ending balance (in shares) at Jun. 30, 2026 266,333,581 266,000,000          
Ending balance at Jun. 30, 2026 $ 13,115 $ 3 9,445 11,296 (7,057) (1,731) 1,158
Beginning balance (in shares) at Mar. 31, 2026   269,000,000          
Beginning balance at Mar. 31, 2026 15,065 $ 3 9,414 10,762 (4,684) (1,574) 1,143
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Issuance of shares in connection with equity awards (39)   (39)        
Share-based compensation expense 70   70        
Dividends declared $ (134)     (134)      
Repurchase of common stock (in shares) (2,500,000) (2,000,000)          
Repurchase of common stock $ (2,373)       (2,373)    
Net income (loss) 649     668     (19)
Currency translation adjustments – net of taxes (84)         (82) (2)
Benefit plans – net of taxes (57)         (57)  
Cash flow hedges – net of taxes (18)         (18)  
Changes attributable to noncontrolling interests $ 35           35
Ending balance (in shares) at Jun. 30, 2026 266,333,581 266,000,000          
Ending balance at Jun. 30, 2026 $ 13,115 $ 3 $ 9,445 $ 11,296 $ (7,057) $ (1,731) $ 1,158