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EQUITY
 9 Months Ended
Sep. 30, 2024
Equity [Abstract]  
EQUITY EQUITY
The following table summarizes changes in equity during the nine months ended September 30, 2024:
Common StockCapital in Excess of Par Value of StockAccumulated Other Comprehensive LossRetained EarningsTreasury StockNoncontrolling Interest
Dollars and shares in millionsSharesPar ValueSharesCost
Balance at December 31, 20232,923 $292 $45,684 $(1,546)$28,766 902 $(43,766)$55 
Net (loss)/earnings
— — — — (11,911)— — 3 
Other comprehensive income/(loss)
— — — 146 — — — — 
Cash dividends declared $0.60 per share
— — — — (1,215)— — — 
Stock compensation— — (29)— — (6)69 — 
Balance at March 31, 20242,923 $292 $45,655 $(1,400)$15,640 896 $(43,697)$58 
Net earnings— — — — 1,680 — — 4 
Other comprehensive income/(loss)
— — — (56)— — — — 
Cash dividends declared $0.60 per share
— — — — (1,217)— — — 
Stock compensation— — 111 — — — 7 — 
Distributions— — — — — — — (8)
Balance at June 30, 20242,923 $292 $45,766 $(1,456)$16,103 896 $(43,690)$54 
Net earnings
— — — — 1,211 — — 4 
Other comprehensive income/(loss)
— — — (12)— — — — 
Cash dividends declared $0.60 per share
— — — — (1,217)— — — 
Stock repurchase program— — — — — — — — 
Stock compensation— — 130 — — (1)15 — 
Balance at September 30, 2024
2,923 $292 $45,896 $(1,468)$16,097 895 $(43,675)$58 

The following table summarizes changes in equity during the nine months ended September 30, 2023:
Common StockCapital in Excess of Par Value of StockAccumulated Other Comprehensive LossRetained EarningsTreasury StockNoncontrolling Interest
Dollars and shares in millionsSharesPar ValueSharesCost
Balance at December 31, 20222,923 $292 $45,165 $(1,281)$25,503 825 $(38,618)$57 
Net earnings— — — — 2,262 — — 5 
Other comprehensive income/(loss)
— — — (87)— — — — 
Cash dividends declared $0.57 per share
— — — — (1,197)— — — 
Share repurchase program— — — — — 4 (250)— 
Stock compensation— — (25)— — (6)60 — 
Balance at March 31, 20232,923 $292 $45,140 $(1,368)$26,568 823 $(38,808)$62 
Net earnings— — — — 2,073 — — 4 
Other comprehensive income/(loss)
— — — (19)— — — — 
Cash dividends declared $0.57 per share
— — — — (1,192)— — — 
Share repurchase program
— — — — — 13 (911)— 
Stock compensation— — 159 — — (2)39 — 
Distributions— — — — — — — (9)
Balance at June 30, 20232,923 $292 $45,299 $(1,387)$27,449 834 $(39,680)$57 
Net earnings
— — — — 1,928 — — 7 
Other comprehensive income/(loss)
— — — 101 — — — — 
Cash dividends declared $0.57 per share
— — — — (1,159)— — — 
Share repurchase program
— — (600)— — 56 (3,433)— 
Stock compensation— — 146 — — (1)27 — 
Convertible debt
— — 4 — — — 11 — 
Balance at September 30, 20232,923 $292 $44,849 $(1,286)$28,218 889 $(43,075)$64 

During the third quarter of 2023, BMS entered into accelerated share repurchase ("ASR") agreements to repurchase an aggregate amount of $4.0 billion of the Company's common stock. Approximately 56 million shares of common stock (85% of the 4.0 billion aggregate repurchase price) were received by BMS and included in treasury stock as of September 30, 2023. In addition, as part of its share repurchase program, BMS repurchased 17 million shares of its common stock for $1.2 billion during the nine months ended September 30, 2023.
The following table summarizes the changes in Other comprehensive income by component:
Three Months Ended September 30, 2024Nine Months Ended September 30, 2024
Dollars in millionsPretaxTaxAfter TaxPretaxTaxAfter Tax
Derivatives qualifying as cash flow hedges
Recognized in other comprehensive income/(loss)
$(159)$26 $(133)$179 $(33)$146 
Reclassified to net earnings(a)
(58)13 (45)(93)14 (79)
Derivatives qualifying as cash flow hedges(217)39 (178)86 (19)67 
Pension and postretirement benefits
Actuarial gains/(losses)4 — 4 (89)22 (67)
Amortization(b)
4 (1)3 7 (1)6 
Settlements(b)
100 (7)93 119 (9)110 
Pension and postretirement benefits108 (8)100 37 12 49 
Marketable debt securities
Unrealized gains/(losses)
7 (2)5 4 (1)3 
Foreign currency translation34 27 61 (47)6 (41)
Other comprehensive income/(loss)$(68)$56 $(12)$80 $(2)$78 

Three Months Ended September 30, 2023
Nine Months Ended September 30, 2023
Dollars in millionsPretaxTaxAfter TaxPretaxTaxAfter Tax
Derivatives qualifying as cash flow hedges
Recognized in other comprehensive income/(loss)
$150 $(18)$132 $231 $(31)$200 
Reclassified to net earnings(a)
(16)(2)(18)(235)28 (207)
Derivatives qualifying as cash flow hedges134 (20)114 (4)(3)(7)
Pension and postretirement benefits
Actuarial gains/(losses)3 (1)2 (10)1 (9)
Marketable debt securities
Unrealized gains/(losses)(3)1 (2)(3)1 (2)
Foreign currency translation4 (17)(13)35 (22)13 
Other comprehensive income/(loss)$138 $(37)$101 $18 $(23)$(5)
(a)Included in Cost of products sold and Other (income)/expense, net. Refer to "—Note 9. Financial Instruments and Fair Value Measurements" for further information.
(b)Included in Other (income)/expense, net.

The accumulated balances related to each component of Other comprehensive (loss)/income, net of taxes, were as follows:
Dollars in millionsSeptember 30,
2024		December 31,
2023
Derivatives qualifying as cash flow hedges$69 $2 
Pension and postretirement benefits(689)(738)
Marketable debt securities5 2 
Foreign currency translation(a)
(853)(812)
Accumulated other comprehensive loss$(1,468)$(1,546)
(a)Includes net investment hedge gains of $126 million and $144 million as of September 30, 2024 and December 31, 2023, respectively.