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SHAREOWNERS' EQUITY (Tables) | 3 Months Ended
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Mar. 31, 2019
Stockholders' Equity Note [Abstract] |
Schedule of Stockholders Equity | The following is a rollforward of our common stock, additional paid-in capital, retained earnings and non-controlling minority interest accounts for the three months ended March 31, 2019 and 2018 (in millions, except per share amounts):
| 2019 |  | 2018
| Shares |  | Dollars |  | Shares |  | Dollars
Class A Common Stock |  |  |  |  |  |  |
Balance at beginning of period | 163 |  |  | $ | 2 |  |  | 173 |  |  | $ | 2 |
Common stock purchases | (1 | ) |  | — |  |  | (1 | ) |  | — |
Stock award plans | 3 |  |  | — |  |  | 3 |  |  | — |
Common stock issuances | 2 |  |  | — |  |  | 2 |  |  | — |
Conversions of class A to class B common stock | (3 | ) |  | — |  |  | (3 | ) |  | — |
Class A shares issued at end of period | 164 |  |  | $ | 2 |  |  | 174 |  |  | $ | 2 |
Class B Common Stock |  |  |  |  |  |  |
Balance at beginning of period | 696 |  |  | $ | 7 |  |  | 687 |  |  | $ | 7 |
Common stock purchases | (2 | ) |  | — |  |  | (1 | ) |  | — |
Conversions of class A to class B common stock | 3 |  |  | — |  |  | 3 |  |  | — |
Class B shares issued at end of period | 697 |  |  | $ | 7 |  |  | 689 |  |  | $ | 7 |
Additional Paid-In Capital |  |  |  |  |  |  |
Balance at beginning of period |  |  | $ | — |  |  |  |  | $ | — |
Stock award plans |  |  | 169 |  |  |  |  | 20 |
Common stock purchases |  |  | (251 | ) |  |  |  | (136 | )
Common stock issuances |  |  | 114 |  |  |  |  | 155 |
Option premiums received (paid) |  |  | (5 | ) |  |  |  | (39 | )
Balance at end of period |  |  | $ | 27 |  |  |  |  | $ | — |
Retained Earnings |  |  |  |  |  |  |
Balance at beginning of period |  |  | $ | 8,006 |  |  |  |  | $ | 5,852 |
Net income attributable to common shareowners |  |  | 1,111 |  |  |  |  | 1,345 |
Dividends ($0.96 and $0.91 per share) (1) |  |  | (867 | ) |  |  |  | (840 | )
Common stock purchases |  |  | — |  |  |  |  | (119 | )
Reclassification from AOCI pursuant to the early adoption of ASU 2018-02 |  |  | — |  |  |  |  | 735 |
Other |  |  | (1 | ) |  |  |  | — |
Balance at end of period |  |  | $ | 8,249 |  |  |  |  | $ | 6,973 |
Non-Controlling Minority Interest |  |  |  |  |  |  |
Balance at beginning of period |  |  | $ | 16 |  |  |  |  | $ | 30 |
Change in non-controlling minority interest |  |  | 2 |  |  |  |  | 1 |
Balance at end of period |  |  | $ | 18 |  |  |  |  | $ | 31 |
(1) The dividend per share amount is the same for both class A and class B common stock
Schedule of Accumulated Other Comprehensive Income (Loss) | The activity in AOCI for the three months ended March 31, 2019 and 2018 is as follows (in millions):
| 2019 |  | 2018
Foreign currency translation gain (loss), net of tax: |  |  |
Balance at beginning of period | $ | (1,126 | ) |  | $ | (930 | )
Translation adjustment (net of tax effect of $9 and $(9)) | 53 |  |  | (6 | )
Reclassification to retained earnings pursuant to the early adoption of ASU 2018-02 | — |  |  | (47 | )
Balance at end of period | (1,073 | ) |  | (983 | )
Unrealized gain (loss) on marketable securities, net of tax: |  |  |
Balance at beginning of period | (2 | ) |  | (2 | )
Current period changes in fair value (net of tax effect of $0 and $(1)) | 4 |  |  | (4 | )
Reclassification to earnings (net of tax effect of $0 and $1) | — |  |  | 1 |
Balance at end of period | 2 |  |  | (5 | )
Unrealized gain (loss) on cash flow hedges, net of tax: |  |  |
Balance at beginning of period | 40 |  |  | (366 | )
Current period changes in fair value (net of tax effect of $28 and $(33)) | 89 |  |  | (102 | )
Reclassification to retained earnings pursuant to the early adoption of ASU 2018-02 | — |  |  | (79 | )
Reclassification to earnings (net of tax effect of $(4) and $12) | (13 | ) |  | 36 |
Balance at end of period | 116 |  |  | (511 | )
Unrecognized pension and postretirement benefit costs, net of tax: |  |  |
Balance at beginning of period | (3,906 | ) |  | (3,569 | )
Reclassification to earnings (net of tax effect of $13 and $12) | 43 |  |  | 39 |
Reclassification to retained earnings pursuant to the early adoption of ASU 2018-02 | — |  |  | (609 | )
Balance at end of period | (3,863 | ) |  | (4,139 | )
Accumulated other comprehensive income (loss) at end of period | $ | (4,818 | ) |  | $ | (5,638 | )
Schedule of Reclassifications from Accumulated Other Comprehensive Income (Loss) to Earnings | Detail of the gains (losses) reclassified from AOCI to the statements of consolidated income for the three months ended March 31, 2019 and 2018 is as follows (in millions):
Three Months Ended March 31: |  |  |  |  |
| Amount Reclassified from AOCI |  | Affected Line Item in the Income Statement
| 2019 |  | 2018 |
Unrealized gain (loss) on marketable securities: |  |  |  |  |
Realized loss on sale of securities | $ | — |  |  | $ | (2 | ) |  | Investment income and other
Income tax (expense) benefit | — |  |  | 1 |  |  | Income tax expense
Impact on net income | — |  |  | (1 | ) |  | Net income
Unrealized gain (loss) on cash flow hedges: |  |  |  |  |
Interest rate contracts | (6 | ) |  | (6 | ) |  | Interest expense
Foreign exchange contracts | 23 |  |  | (42 | ) |  | Revenue
Income tax (expense) benefit | (4 | ) |  | 12 |  |  | Income tax expense
Impact on net income | 13 |  |  | (36 | ) |  | Net income
Unrecognized pension and postretirement benefit costs: |  |  |  |  |
Prior service costs | (56 | ) |  | (51 | ) |  | Investment income and other
Income tax (expense) benefit | 13 |  |  | 12 |  |  | Income tax expense
Impact on net income | (43 | ) |  | (39 | ) |  | Net income
Total amount reclassified for the period | $ | (30 | ) |  | $ | (76 | ) |  | Net income
Schedule of Deferred Compensation and Treasury Stock Activity | Activity in the deferred compensation program for the three months ended March 31, 2019 and 2018 is as follows (in millions):
| 2019 |  | 2018
Shares |  | Dollars |  | Shares |  | Dollars
Deferred Compensation Obligations: |  |  |  |  |  |  |
Balance at beginning of period |  |  | $ | 32 |  |  |  |  | $ | 37 |
Reinvested dividends |  |  | 1 |  |  |  |  | 1 |
Benefit payments |  |  | (8 | ) |  |  |  | (7 | )
Balance at end of period |  |  | $ | 25 |  |  |  |  | $ | 31 |
Treasury Stock: |  |  |  |  |  |  |
Balance at beginning of period | (1 | ) |  | $ | (32 | ) |  | (1 | ) |  | $ | (37 | )
Reinvested dividends | — |  |  | (1 | ) |  | — |  |  | (1 | )
Benefit payments | — |  |  | 8 |  |  | — |  |  | 7 |
Balance at end of period | (1 | ) |  | $ | (25 | ) |  | (1 | ) |  | $ | (31 | )

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