XML 60 R28.htm IDEA: XBRL DOCUMENT
v3.22.2

Equity (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2022
Equity [Abstract] |
Schedule of accelerated share repurchase agreements | During the six months ended June 30, 2022, we initiated a series of uncapped ASR agreements aggregating a total of $8.5 billion as follows:
(in millions, except average price paid per share) |  |  |  |  |  |  |  |  |  |  |  |
ASR Agreement Initiation Date |  |  |  | Initial Shares Delivered |  | Additional Shares Delivered |  | Total Number of Shares Purchased |  | Average Price Paid Per Share |  | Total Cash Utilized
May 13, 2022 1 |  |  |  | 3.8 |  | — |  |  | 3.8 |  | $ | 336.85 |  |  | $ | 1,500 |
March 1, 2022 2 |  |  |  | 15.2 |  | — |  |  | 15.2 |  | $ | 390.58 |  |  | $ | 7,000 |
1 The ASR agreement was structured as an uncapped ASR agreement in which we paid $1.5 billion and received an initial delivery of 3.8 million shares, representing 85% of the $1.5 billion at a price equal to the then market price of the Company. The final settlement of the transaction under the ASR is expected to be completed no later than the third quarter of 2022. The ASR agreement was executed under our 2020 Repurchase Program. 2 The ASR agreement was structured as an uncapped ASR agreement in which we paid $7 billion and received an initial delivery of 15.2 million shares, representing 85% of the $7 billion at a price equal to the then market price of the Company. The final settlement of the transaction under the ASR is expected to be completed no later than the third quarter of 2022. The ASR agreement was executed under our 2020 Repurchase Program.
Schedule of redeemable noncontrolling interest rollforward | Changes to redeemable noncontrolling interest during the six months ended June 30, 2022 were as follows:
(in millions) |
Balance as of December 31, 2021 | $ | 3,429 |
Net income attributable to redeemable noncontrolling interest | 131 |
Equity contribution from redeemable noncontrolling interest | 410 |
Distributions payable to redeemable noncontrolling interest | (129) |
Redemption value adjustment | (547) |
Balance as of June 30, 2022 | $ | 3,294 |
Schedule of changes in the components of accumulated other comprehensive loss | The following table summarizes the changes in the components of accumulated other comprehensive loss for the six months ended June 30, 2022:
(in millions) | Foreign Currency Translation Adjustments |  | Pension and Postretirement Benefit Plans |  | Unrealized Gain (Loss) on Cash Flow Hedges |  |  |  | Accumulated Other Comprehensive Loss
Balance as of December 31, 2021 | $ | (336) |  |  | $ | (305) |  |  | $ | (200) |  |  |  |  | $ | (841) |
Other comprehensive (loss) income before reclassifications | (143) |  | 1 | (4) |  |  | 172 |  |  |  |  | 25 |
Reclassifications from accumulated other comprehensive income (loss) to net earnings | — |  |  | 5 |  | 2 | — |  | 3 |  |  | 5 |
Net other comprehensive (loss) income | (143) |  |  | 1 |  |  | 172 |  |  |  |  | 30 |
Balance as of June 30, 2022 | $ | (479) |  |  | $ | (304) |  |  | $ | (28) |  |  |  |  | $ | (811) |
1 Includes an unrealized gain related to our cross currency swaps. See note 5 – Derivative Instruments for additional detail of items recognized in accumulated other comprehensive loss. 2 Reflects amortization of net actuarial losses and is net of a tax benefit of $1 million for the six months ended June 30, 2022. See Note 6 — Employee Benefits for additional details of items reclassed from accumulated other comprehensive loss to net earnings. 3 See Note 5 — Derivative Instruments for additional details of items reclassified from accumulated other comprehensive loss to net earnings.

X
- Definition Tabular disclosure of accelerated share repurchase (ASR) programs. An ASR is a combination of transactions that permits an entity to purchase a targeted number of shares immediately with the final purchase price of those shares determined by an average market price over a fixed period of time. An accelerated share repurchase program is intended to combine the immediate share retirement benefits of a tender offer with the market impact and pricing benefits of a disciplined daily open market stock repurchase program. ASRs can be disclosed as part of stockholders' equity. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 30 -Section 25 -Paragraph 5 -URI https://asc.fasb.org/extlink&oid=6405686&loc=d3e22802-112653 + Details
Name: | us-gaap_AcceleratedShareRepurchasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_EquityAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of redeemable noncontrolling interest (as defined) included in the statement of financial position as either a liability or temporary equity. As of the date of the statement of financial position, such redeemable noncontrolling interest is currently redeemable, as defined, for cash or other assets of the entity at (1) at a fixed or determinable price on a fixed or determinable date, (2) at the option of the holder of the noncontrolling interest, or (3) upon occurrence of an event that is not solely within the control of the entity. + References No definition available. + Details
Name: | us-gaap_RedeemableNoncontrollingInterestTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of accumulated other comprehensive income (loss). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 830 -SubTopic 30 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=6450520&loc=d3e32583-110901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 14A -URI https://asc.fasb.org/extlink&oid=126968391&loc=SL7669686-108580 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 830 -SubTopic 30 -Section 45 -Paragraph 20 -URI https://asc.fasb.org/extlink&oid=118261656&loc=d3e32211-110900 + Details
Name: | us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration