Equity and Accumulated Other Comprehensive Earnings (Loss) (Tables)

6 Months Ended

Jun. 30, 2026

Equity and Accumulated Other Comprehensive Earnings (Loss)

Schedule of company's equity activity


		Common Stock					Treasury Stock								Accumulated Other
		Number of					Number of					Retained			Comprehensive			Noncontrolling			Total
($ in millions; share amounts in thousands)		Shares		Amount			Shares		Amount			Earnings			Earnings (Loss)			Interest			Equity

Balance at March 31, 2026		685,842		$	1,437		(419,674)		$	(7,341)		$	12,370		$	(866)		$	19		$	5,619
Net earnings		—			—		—			—			221			—			2			223
Other comprehensive earnings (loss), net of tax		—			—		—			—			—			64			—			64
Common dividends		—			—		—			—			(53)			—			—			(53)
Treasury stock purchases		—			—		(1,784)			(102)			—			—			—			(102)
Treasury shares reissued		—			—		80			3			—			—			—			3
Shares issued and stock-based compensation, net of shares exchanged		141			10		—			—			—			—			—			10
Distributions from deferred compensation plans and other activity		—			—		—			3			—			—			(1)			2
Balance at June 30, 2026		685,983		$	1,447		(421,378)		$	(7,437)		$	12,538		$	(802)		$	20		$	5,766


		Common Stock					Treasury Stock								Accumulated Other
		Number of					Number of					Retained			Comprehensive			Noncontrolling			Total
($ in millions; share amounts in thousands)		Shares		Amount			Shares		Amount			Earnings			Earnings (Loss)			Interest			Equity

Balance at March 31, 2025		684,673		$	1,401		(405,213)		$	(6,607)		$	11,649		$	(942)		$	68		$	5,569
Net earnings		—			—		—			—			212			—			3			215
Other comprehensive earnings (loss), net of tax		—			—		—			—			—			(13)			—			(13)
Common dividends		—			—		—			—			(55)			—			—			(55)
Treasury stock purchases		—			—		(7,598)			(456)			—			—			—			(456)
Treasury shares reissued		—			—		11			3			—			—			—			3
Shares issued and stock-based compensation, net of shares exchanged		175			13		—			—			—			—			—			13
Distributions from deferred compensation plans and other activity		—			—		—			1			—			—			—			1
Balance at June 30, 2025		684,848		$	1,414		(412,800)		$	(7,059)		$	11,806		$	(955)		$	71		$	5,277


		Common Stock					Treasury Stock								Accumulated Other
		Number of					Number of					Retained			Comprehensive			Noncontrolling			Total
($ in millions; share amounts in thousands)		Shares		Amount			Shares		Amount			Earnings			Earnings (Loss)			Interest			Equity

Balance at December 31, 2025		685,107		$	1,422		(419,733)		$	(7,351)		$	12,219		$	(869)		$	—		$	5,421
Net earnings		—			—		—			—			426			—			2			428
Other comprehensive earnings (loss), net of tax		—			—		—			—			—			67			—			67
Common dividends		—			—		—			—			(107)			—			—			(107)
Treasury stock purchases		—			—		(1,804)			(103)			—			—			—			(103)
Treasury shares reissued		—			—		159			5			—			—			—			5
Shares issued and stock-based compensation, net of shares exchanged		876			25		—			—			—			—			—			25
Business acquisitions		—			—		—			—			—			—			19			19
Distributions from deferred compensation plans and other activity		—			—		—			12			—			—			(1)			11
Balance at June 30, 2026		685,983		$	1,447		(421,378)		$	(7,437)		$	12,538		$	(802)		$	20		$	5,766


		Common Stock					Treasury Stock								Accumulated Other
		Number of					Number of					Retained			Comprehensive			Noncontrolling			Total
($ in millions; share amounts in thousands)		Shares		Amount			Shares		Amount			Earnings			Earnings (Loss)			Interest			Equity

Balance at December 31, 2024		684,168		$	1,395		(394,790)		$	(6,057)		$	11,527		$	(1,003)		$	68		$	5,930
Net earnings		—			—		—			—			391			—			3			394
Other comprehensive earnings (loss), net of tax		—			—		—			—			—			48			—			48
Common dividends		—			—		—			—			(112)			—			—			(112)
Treasury stock purchases		—			—		(18,092)			(1,016)			—			—			—			(1,016)
Treasury shares reissued		—			—		82			6			—			—			—			6
Shares issued and stock-based compensation, net of shares exchanged		680			19		—			—			—			—			—			19
Distributions from deferred compensation plans and other activity		—			—		—			8			—			—			—			8
Balance at June 30, 2025		684,848		$	1,414		(412,800)		$	(7,059)		$	11,806		$	(955)		$	71		$	5,277

Schedule of activity related to accumulated other comprehensive earnings (loss)


($ in millions)		Currency Translation (Net of Tax)				Pension and Other Postretirement Benefits (Net of Tax)			Derivatives Designated as Hedges (Net of Tax)			Accumulated Other Comprehensive Earnings (Loss)

Balance at December 31, 2025		$	(484)			$	(416)		$	31		$	(869)
Other comprehensive earnings (loss) before reclassifications			(9)				8			63			62
Amounts reclassified into earnings			—				8			(3)			5
Balance at June 30, 2026		$	(493)			$	(400)		$	91		$	(802)

Information related to amounts reclassified into net earnings from accumulated other comprehensive earnings (loss)


		Three Months Ended June 30,						Six Months Ended June 30,
($ in millions)		2026			2025			2026			2025

Gains (losses) on cash flow hedges:
Commodity contracts recorded in net sales		$	(68)		$	17		$	(110)		$	12
Commodity contracts recorded in cost of sales			48			(1)			76			2
Currency exchange contracts recorded in cost of sales			2			—			2			—
Currency exchange contracts recorded in selling, general and administrative			34			(73)			35			(101)
Interest rate contracts recorded in interest expense			(10)			3			1			3
Total before tax effect			6			(54)			4			(84)
Tax benefit (expense) on amounts reclassified into earnings			(1)			14			(1)			21
Recognized gain (loss), net of tax		$	5		$	(40)		$	3		$	(63)

Amortization and disposal of pension and other postretirement benefits:
Actuarial gains (losses)		$	(5)		$	(4)		$	(9)		$	(8)
Prior service income (expense)			(1)			(1)			(1)			(1)
Total before tax effect			(6)			(5)			(10)			(9)
Tax benefit (expense) on amounts reclassified into earnings			1			1			2			2
Recognized gain (loss), net of tax		$	(5)		$	(4)		$	(8)		$	(7)