Equity (Tables)

6 Months Ended

Jun. 30, 2026

The following table summarizes components of equity with significant changes during the three months ended June 30, 2026 and 2025:


	Common Stock			Additional Paid-in Capital		Retained Earnings		Accumulated Other Comprehensive Loss
	Shares	Amount
Balance at March 31, 2026	943.5	$	590	$	6,921	$	29,514	$	(2,833)
Net income						7,095
Other comprehensive income, net of tax								72
Cash dividends declared per share: $3.46						(3,088)
Purchases of common stock	(2.0)	(2)				(1,628)

Issuance of stock under employee stock plans, net	—	—		(5)
Stock-based compensation				201

Balance at June 30, 2026	941.5	$	588	$	7,117	$	31,893	$	(2,761)

Balance at March 31, 2025	948.1	$	593	$	6,910	$	15,100	$	(3,775)
Net income						5,661
Other comprehensive income, net of tax								59
Cash dividends declared per share: $3.00						(2,692)
Purchases of common stock	(0.9)	(1)				(692)

Issuance of stock under employee stock plans, net	—	—		(6)
Stock-based compensation				185

Balance at June 30, 2025	947.2	$	592	$	7,089	$	17,376	$	(3,716)

The following table summarizes components of equity with significant changes during the six months ended June 30, 2026 and 2025:


	Common Stock			Additional Paid-in Capital		Retained Earnings		Accumulated Other Comprehensive Loss
	Shares	Amount
Balance at December 31, 2025	944.8	$	590	$	7,346	$	24,470	$	(2,880)
Net income						14,491
Other comprehensive income, net of tax								119
Cash dividends declared per share: $3.46						(3,088)
Purchases of common stock	(4.4)	(3)				(3,984)

Issuance of stock under employee stock plans, net	1.1	1		(591)
Stock-based compensation				362
Other						4
Balance at June 30, 2026	941.5	$	588	$	7,117	$	31,893	$	(2,761)

Balance at December 31, 2024	947.9	$	592	$	7,439	$	13,545	$	(4,322)
Net income						8,420
Other comprehensive income, net of tax								606
Cash dividends declared per share: $3.00						(2,692)
Purchases of common stock	(2.3)	(1)				(1,891)

Issuance of stock under employee stock plans, net	1.6	1		(689)
Stock-based compensation				339
Other						(6)
Balance at June 30, 2025	947.2	$	592	$	7,089	$	17,376	$	(3,716)

Schedule of Accumulated Other Comprehensive Income (Loss)

The following table summarizes the activity related to each component of accumulated other comprehensive income (loss) during the three months ended June 30, 2026 and 2025:



	Foreign Currency Translation(1)		Retirement Benefit Plans		Other		Accumulated Other Comprehensive Loss
Balance at March 31, 2026	$	(1,099)	$	(1,989)	$	254	$	(2,833)
Other comprehensive income (loss)	44		32		(4)		72
Balance at June 30, 2026	$	(1,055)	$	(1,957)	$	250	$	(2,761)

Balance at March 31, 2025	$	(1,824)	$	(2,182)	$	230	$	(3,775)
Other comprehensive income (loss)	66		(12)		5		59
Balance at June 30, 2025	$	(1,758)	$	(2,193)	$	235	$	(3,716)

(1) Includes the impact of foreign currency transactions designated as net investment hedges. See Note 8 for additional information.

The following table summarizes the activity related to each component of accumulated other comprehensive income (loss) during the six months ended June 30, 2026 and 2025:



	Foreign Currency Translation(1)		Retirement Benefit Plans		Other		Accumulated Other Comprehensive Loss
Balance at December 31, 2025	$	(1,149)	$	(1,987)	$	255	$	(2,880)
Other comprehensive income (loss)	94		30		(5)		119
Balance at June 30, 2026	$	(1,055)	$	(1,957)	$	250	$	(2,761)

Balance at December 31, 2024	$	(2,390)	$	(2,179)	$	246	$	(4,322)
Other comprehensive income (loss)	632		(15)		(12)		606
Balance at June 30, 2025	$	(1,758)	$	(2,193)	$	235	$	(3,716)

(1) Includes the impact of foreign currency transactions designated as net investment hedges. See Note 8 for additional information.