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

9 Months Ended

Sep. 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 June 30, 2026		685,983		$	1,447		(421,378)		$	(7,437)		$	12,538		$	(802)		$	20		$	5,766
Net earnings (loss)		—			—		—			—			(94)			—			—			(94)
Other comprehensive earnings (loss), net of tax		—			—		—			—			—			266			—			266
Common dividends		—			—		—			—			(52)			—			—			(52)
Treasury stock purchases		—			—		(2,655)			(164)			—			—			—			(164)
Treasury shares reissued		—			—		22			3			—			—			—			3
Shares issued and stock-based compensation, net of shares exchanged		162			12		—			—			—			—			—			12
Business acquisitions		—			—		—			—			—			—			—			—
Distributions from deferred compensation plans and other activity		—			—		—			3			—			—			—			3
Balance at September 30, 2026		686,145		$	1,459		(424,011)		$	(7,595)		$	12,392		$	(536)		$	20		$	5,740


		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 June 30, 2025		684,848		$	1,414		(412,800)		$	(7,059)		$	11,806		$	(955)		$	71		$	5,277
Net earnings (loss)		—			—		—			—			321			—			—			321
Other comprehensive earnings (loss), net of tax		—			—		—			—			—			43			—			43
Common dividends		—			—		—			—			(54)			—			—			(54)
Treasury stock purchases		—			—		(2,455)			(84)			—			—			—			(84)
Treasury shares reissued		—			—		7			2			—			—			—			2
Shares issued and stock-based compensation, net of shares exchanged		87			8		—			—			—			—			—			8
Business dispositions		—			—		—			—			—			—			(65)			(65)
Distributions from deferred compensation plans and other activity		—			—		—			4			—			—			—			4
Balance at September 30, 2025		684,935		$	1,422		(415,248)		$	(7,137)		$	12,073		$	(912)		$	6		$	5,452


		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 (loss)		—			—		—			—			332			—			2			334
Other comprehensive earnings (loss), net of tax		—			—		—			—			—			333			—			333
Common dividends		—			—		—			—			(159)			—			—			(159)
Treasury stock purchases		—			—		(4,459)			(267)			—			—			—			(267)
Treasury shares reissued		—			—		181			8			—			—			—			8
Shares issued and stock-based compensation, net of shares exchanged		1,038			37		—			—			—			—			—			37
Business acquisitions		—			—		—			—			—			—			19			19
Distributions from deferred compensation plans and other activity		—			—		—			15			—			—			(1)			14
Balance at September 30, 2026		686,145		$	1,459		(424,011)		$	(7,595)		$	12,392		$	(536)		$	20		$	5,740


		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 (loss)		—			—		—			—			712			—			3			715
Other comprehensive earnings (loss), net of tax		—			—		—			—			—			91			—			91
Common dividends		—			—		—			—			(166)			—			—			(166)
Treasury stock purchases		—			—		(20,547)			(1,100)			—			—			—			(1,100)
Treasury shares reissued		—			—		89			8			—			—			—			8
Shares issued and stock-based compensation, net of shares exchanged		767			27		—			—			—			—			—			27
Business dispositions		—			—		—			—			—			—			(65)			(65)
Distributions from deferred compensation plans and other activity		—			—		—			12			—			—			—			12
Balance at September 30, 2025		684,935		$	1,422		(415,248)		$	(7,137)		$	12,073		$	(912)		$	6		$	5,452

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			(25)				(11)				38			2
Amounts reclassified into earnings			—				368	(a)			(37)			331
Balance at September 30, 2026		$	(509)			$	(59)			$	32		$	(536)

(a)	Includes loss on pension settlement associated with the pension buy-out transaction recorded in business consolidation and other activities.

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


		Three Months Ended September 30,						Nine Months Ended September 30,
($ in millions)		2026			2025			2026			2025

Gains (losses) on cash flow hedges:
Commodity contracts recorded in net sales		$	(4)		$	6		$	(114)		$	18
Commodity contracts recorded in cost of sales			36			(14)			112			(12)
Currency exchange contracts recorded in cost of sales			1			—			3			—
Currency exchange contracts recorded in selling, general and administrative			10			8			45			(93)
Interest rate contracts recorded in interest expense			—			1			1			4
Total before tax effect			43			1			47			(83)
Tax benefit (expense) on amounts reclassified into earnings			(9)			(1)			(10)			20
Recognized gain (loss), net of tax		$	34		$	—		$	37		$	(63)

Amortization and disposal of pension and other postretirement benefits:
Actuarial gains (losses)		$	(2)		$	(4)		$	(11)		$	(12)
Prior service income (expense)			—			—			(1)			(1)
Loss on pension settlement			(475)			—			(475)			—
Total before tax effect			(477)			(4)			(487)			(13)
Tax benefit (expense) on amounts reclassified into earnings			117			1			119			3
Recognized gain (loss), net of tax		$	(360)		$	(3)		$	(368)		$	(10)