SHAREOWNERS' EQUITY (Tables)

3 Months Ended

Mar. 31, 2021

Stockholders' Equity Note [Abstract]


	2021			2020
	Shares	Dollars		Shares	Dollars
Class A Common Stock
Balance at beginning of period	147	$	2	156	$	2
Common stock purchases	—	—		—	—
Stock award plans	4	—		4	—
Common stock issuances	1	—		2	—
Conversions of class A to class B common stock	(4)	—		(4)	—
Class A shares issued at end of period	148	$	2	158	$	2
Class B Common Stock
Balance at beginning of period	718	$	7	701	$	7
Common stock purchases	—	—		(2)	—
Conversions of class A to class B common stock	4	—		4	—
Class B shares issued at end of period	722	$	7	703	$	7
Additional Paid-In Capital
Balance at beginning of period		$	865		$	150
Common stock purchases		—			(217)
Stock award plans		30			(67)
Common stock issuances		154			163


Balance at end of period		$	1,049		$	29
Retained Earnings
Balance at beginning of period		$	6,896		$	9,105
Net income attributable to common shareowners		4,792			965
Dividends ($1.02 and $1.01 per share) (1)		(938)			(933)



Other		(2)			—
Balance at end of period		$	10,748		$	9,137
Non-Controlling Minority Interest
Balance at beginning of period		$	12		$	16
Change in non-controlling minority interest		—			(2)
Balance at end of period		$	12		$	14
(1) The dividend per share amount is the same for both class A and class B common stock. Dividends include $80 and $93 million as of March 31, 2021 and March 31, 2020, respectively, that were settled in shares of class A common stock.

Schedule of Accumulated Other Comprehensive Income (Loss)

The activity in AOCI for the three months ended March 31, 2021 and 2020 was as follows (in millions):


Three Months Ended March 31:	2021		2020
Foreign Currency Translation Gain (Loss), Net of Tax:
Balance at beginning of period	$	(981)	$	(1,078)

Translation adjustment (net of tax effect of $30 and $13)	(82)		(141)

Balance at end of period	(1,063)		(1,219)
Unrealized Gain (Loss) on Marketable Securities, Net of Tax:
Balance at beginning of period	6		4
Current period changes in fair value (net of tax effect of $0 and $0)	(1)		2

Reclassification to earnings (net of tax effect of $0 and $0)	(3)		—
Balance at end of period	2		6
Unrealized Gain (Loss) on Cash Flow Hedges, Net of Tax:
Balance at beginning of period	(223)		112
Current period changes in fair value (net of tax effect of $39 and $83)	124		263

Reclassification to earnings (net of tax effect of $(3) and $(15))	(10)		(46)
Balance at end of period	(109)		329
Unrecognized Pension and Postretirement Benefit Costs, Net of Tax:
Balance at beginning of period	(5,915)		(5,035)

Net actuarial gain (loss) resulting from remeasurements of plan assets and liabilities (net of tax effect of $1,544 and $0)	4,901		—
Reclassification to earnings (net of tax effect of $(780) and $14)	(2,475)		43
Balance at end of period	(3,489)		(4,992)
Accumulated other comprehensive income (loss) at end of period	$	(4,659)	$	(5,876)

Gains (Losses) Reclassified from AOCI

Detail of the gains (losses) reclassified from AOCI to the statements of consolidated income for the three months ended March 31, 2021 and 2020 was as follows (in millions):


	Amount Reclassified from AOCI				Affected Line Item in the Income Statement
Three Months Ended March 31:	2021		2020




Unrealized Gain (Loss) on Marketable Securities:
Realized gain (loss) on sale of securities	$	3	$	—	Investment income and other
Income tax (expense) benefit	—		—		Income tax expense
Impact on net income	3		—		Net income
Unrealized Gain (Loss) on Cash Flow Hedges:
Interest rate contracts	(2)		(3)		Interest expense
Foreign exchange contracts	15		64		Revenue


Income tax (expense) benefit	(3)		(15)		Income tax expense
Impact on net income	10		46		Net income
Unrecognized Pension and Postretirement Benefit Costs:
Prior service costs	(35)		(57)		Investment income and other

Remeasurement of benefit obligation	3,290		—		Investment income and other
Income tax (expense) benefit	(780)		14		Income tax expense
Impact on net income	2,475		(43)		Net income
Total amount reclassified for the period	$	2,488	$	3	Net income

Activity in Deferred Compensation Program

Activity in the deferred compensation program for the three months ended March 31, 2021 and 2020 was as follows (in millions):


	2021			2020
Three Months Ended March 31:	Shares	Dollars		Shares	Dollars
Deferred Compensation Obligations:
Balance at beginning of period		$	20		$	26
Reinvested dividends		—			—
Benefit payments		(5)			(7)
Balance at end of period		$	15		$	19
Treasury Stock:
Balance at beginning of period	—	$	(20)	—	$	(26)
Reinvested dividends	—	—		—	—
Benefit payments	—	5		—	7
Balance at end of period	—	$	(15)	—	$	(19)