v3.26.3
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 (159)   (159)        
Share-based compensation expense 180   180        
Dividends declared (205)     (205)      
Repurchase of common stock (in shares)   (6,000,000)          
Repurchase of common stock (2,257)       (2,257)    
Net income (loss) 1,209     1,220     (11)
Currency translation adjustments – net of taxes 471         468 3
Benefit plans – net of taxes (209)         (210) 1
Cash flow hedges – net of taxes 62         62  
Changes attributable to noncontrolling interests 42           42
Ending balance (in shares) at Sep. 30, 2025   271,000,000          
Ending balance at Sep. 30, 2025 9,729 $ 3 9,755 2,626 (2,300) (1,438) 1,083
Beginning balance (in shares) at Jun. 30, 2025   272,000,000          
Beginning balance at Jun. 30, 2025 9,947 $ 3 9,714 2,241 (1,636) (1,445) 1,070
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Issuance of shares in connection with equity awards (13)   (13)        
Share-based compensation expense 54   54        
Dividends declared (68)     (68)      
Repurchase of common stock (in shares)   (1,000,000)          
Repurchase of common stock (663)       (663)    
Net income (loss) 453     452     1
Currency translation adjustments – net of taxes 31         30  
Benefit plans – net of taxes (50)         (50)  
Cash flow hedges – net of taxes 27         27  
Changes attributable to noncontrolling interests 12           12
Ending balance (in shares) at Sep. 30, 2025   271,000,000          
Ending balance at Sep. 30, 2025 $ 9,729 $ 3 9,755 2,626 (2,300) (1,438) 1,083
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 (507)   (507)        
Share-based compensation expense 194   194        
Dividends declared $ (403)     (403)      
Repurchase of common stock (in shares) (6,000,000.0) (6,000,000)          
Repurchase of common stock $ (5,317)       (5,317)    
Net income (loss) 6,687     6,704     (17)
Currency translation adjustments – net of taxes (155)         (140) (15)
Benefit plans – net of taxes (180)         (176) (4)
Cash flow hedges – net of taxes (151)         (151)  
Changes attributable to noncontrolling interests $ 74           74
Ending balance (in shares) at Sep. 30, 2026 264,677,066 265,000,000          
Ending balance at Sep. 30, 2026 $ 12,538 $ 3 9,500 12,455 (8,702) (1,874) 1,156
Beginning balance (in shares) at Jun. 30, 2026   266,000,000          
Beginning balance at Jun. 30, 2026 13,115 $ 3 9,445 11,296 (7,057) (1,731) 1,158
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Issuance of shares in connection with equity awards (5)   (5)        
Share-based compensation expense 59   59        
Dividends declared $ (132)     (132)      
Repurchase of common stock (in shares) (1,700,000) (2,000,000)          
Repurchase of common stock $ (1,646)       (1,645)    
Net income (loss) 1,289     1,291     (2)
Currency translation adjustments – net of taxes 1         15 (14)
Benefit plans – net of taxes (93)         (88) (5)
Cash flow hedges – net of taxes (70)         (70)  
Changes attributable to noncontrolling interests $ 20           20
Ending balance (in shares) at Sep. 30, 2026 264,677,066 265,000,000          
Ending balance at Sep. 30, 2026 $ 12,538 $ 3 $ 9,500 $ 12,455 $ (8,702) $ (1,874) $ 1,156