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EQUITY | 3 Months Ended
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Mar. 31, 2025
Equity [Abstract] |
EQUITY | EQUITY The following table summarizes changes in equity during the three months ended March 31, 2025:
| Common Stock |  | Capital in Excess of Par Value of Stock |  | Accumulated Other Comprehensive Loss |  | Retained Earnings |  | Treasury Stock |  | Noncontrolling Interest
Dollars and shares in millions | Shares |  | Par Value |  | Shares |  | Cost |
Balance at December 31, 2024 | 2,923 |  |  | $ | 292 |  |  | $ | 46,024 |  |  | $ | (1,238) |  |  | $ | 14,912 |  |  | 894 |  |  | $ | (43,655) |  |  | $ | 53 |
Net earnings/(loss) | — |  |  | — |  |  | — |  |  | — |  |  | 2,456 |  |  | — |  |  | — |  |  | 6 |
Other comprehensive income/(loss) | — |  |  | — |  |  | — |  |  | (185) |  |  | — |  |  | — |  |  | — |  |  | — |
Cash dividends declared $0.62 per share | — |  |  | — |  |  | — |  |  | — |  |  | (1,262) |  |  | — |  |  | — |  |  | — |
Stock compensation | — |  |  | — |  |  | (13) |  |  | — |  |  | — |  |  | (6) |  |  | 59 |  |  | — |
Balance at March 31, 2025 | 2,923 |  |  | $ | 292 |  |  | $ | 46,011 |  |  | $ | (1,424) |  |  | $ | 16,106 |  |  | 888 |  |  | $ | (43,597) |  |  | $ | 59 |
The following table summarizes changes in equity during the three months ended March 31, 2024:
| Common Stock |  | Capital in Excess of Par Value of Stock |  | Accumulated Other Comprehensive Loss |  | Retained Earnings |  | Treasury Stock |  | Noncontrolling Interest
Dollars and shares in millions | Shares |  | Par Value |  | Shares |  | Cost |
Balance at December 31, 2023 | 2,923 |  |  | $ | 292 |  |  | $ | 45,684 |  |  | $ | (1,546) |  |  | $ | 28,766 |  |  | 902 |  |  | $ | (43,766) |  |  | $ | 55 |
Net earnings/(loss) | — |  |  | — |  |  | — |  |  | — |  |  | (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, 2024 | 2,923 |  |  | $ | 292 |  |  | $ | 45,655 |  |  | $ | (1,400) |  |  | $ | 15,640 |  |  | 896 |  |  | $ | (43,697) |  |  | $ | 58 |
The components of Other comprehensive income/(loss) were as follows:
| Three Months Ended March 31, 2025 |  | Three Months Ended March 31, 2024
Dollars in millions | Pretax |  | Tax |  | After Tax |  | Pretax |  | Tax |  | After Tax
Derivatives qualifying as cash flow hedges: |  |  |  |  |  |  |  |  |  |  |
Recognized in other comprehensive income/(loss) | $ | (191) |  |  | $ | 37 |  |  | $ | (154) |  |  | $ | 254 |  |  | $ | (47) |  |  | $ | 207 |
Reclassified to net earnings(a) | (77) |  |  | 16 |  |  | (61) |  |  | (15) |  |  | (1) |  |  | (16) |
Derivatives qualifying as cash flow hedges | (268) |  |  | 53 |  |  | (215) |  |  | 239 |  |  | (48) |  |  | 191 |
Pension and postretirement benefits |  |  |  |  |  |  |  |  |  |  |
Actuarial gains/(losses) | — |  |  | — |  |  | — |  |  | (6) |  |  | 1 |  |  | (5) |
Amortization(b) | 2 |  |  | (1) |  |  | 1 |  |  | 2 |  |  | — |  |  | 2 |
Settlements(b) | — |  |  | — |  |  | — |  |  | 19 |  |  | (3) |  |  | 16 |
Pension and postretirement benefits | 2 |  |  | (1) |  |  | 1 |  |  | 15 |  |  | (2) |  |  | 13 |
Marketable debt securities |  |  |  |  |  |  |  |  |  |  |
Unrealized gains/(losses) | 1 |  |  | — |  |  | 1 |  |  | (2) |  |  | — |  |  | (2) |
Foreign currency translation | 9 |  |  | 19 |  |  | 28 |  |  | (44) |  |  | (12) |  |  | (56) |
Other comprehensive income/(loss) | $ | (256) |  |  | $ | 71 |  |  | $ | (185) |  |  | $ | 208 |  |  | $ | (62) |  |  | $ | 146 |
(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 income/(loss), net of taxes, were as follows:
Dollars in millions | March 31, 2025 |  | December 31, 2024
Derivatives qualifying as cash flow hedges | $ | 161 |  |  | $ | 376 |
Pension and postretirement benefits | (647) |  |  | (648) |
Marketable debt securities | 2 |  |  | 2 |
Foreign currency translation(a) | (940) |  |  | (968) |
Accumulated other comprehensive loss | $ | (1,424) |  |  | $ | (1,238) |
(a)Includes net investment hedge gains of $148 million and $210 million as of March 31, 2025 and December 31, 2024, respectively.

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