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Consolidated Statements of Shareholders' Equity - USD ($)
shares in Thousands, $ in Millions
Total
Common Stock
Retained Earnings
Accumulated Other Comprehensive Income (Loss)
Balance at Dec. 31, 2020 $ (7,891) $ 0 $ (7,480) $ (411)
Balance (in shares) at Dec. 31, 2020   300,000    
Net Income 1,575   1,575  
Translation adjustments and gains (losses) from intra-entity transactions of a long-term investment nature - including noncontrolling interest (net of tax impact) (24)     (24)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Reclassification Adjustment from AOCI, Realized upon Sale or Liquidation, before Tax 0      
Pension and post-retirement benefit plans (net of tax impact) 62     62
Pension and post-retirement benefit plans (tax impact) (19)      
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax 48     48
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Tax (14)      
Comprehensive income - including noncontrolling interests 1,661      
Dividends declared (594)   (594)  
Repurchase of shares of Common Stock $ (1,580) [1] $ (31) (1,549)  
Repurchase of shares of Common Stock (in shares) (12,981) [1] (13,000)    
Employee stock option and SARs exercises (includes tax impact) $ 50 $ 50    
Employee stock option and SARs exercises (in shares)   2,000    
Compensation-related events (includes tax impact) 81 $ 81    
Balance at Dec. 31, 2021 (8,373) $ 0 (8,048) (325)
Balance (in shares) at Dec. 31, 2021   289,000    
Net Income 1,325   1,325  
Translation adjustments and gains (losses) from intra-entity transactions of a long-term investment nature - including noncontrolling interest (net of tax impact) (84)     (84)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Reclassification Adjustment from AOCI, Realized upon Sale or Liquidation, before Tax 0      
Pension and post-retirement benefit plans (net of tax impact) (60)     (60)
Pension and post-retirement benefit plans (tax impact) 21      
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax 100     100
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Tax (33)      
Comprehensive income - including noncontrolling interests 1,281      
Dividends declared (653)   (653)  
Repurchase of shares of Common Stock $ (1,200) [1] $ (69) (1,131)  
Repurchase of shares of Common Stock (in shares) (10,083) [1] (10,000)    
Employee stock option and SARs exercises (includes tax impact) $ 31 $ 31    
Employee stock option and SARs exercises (in shares)   1,000    
Compensation-related events (includes tax impact) 100 $ 100    
Balance at Dec. 31, 2022 (8,876) $ 0 (8,507) (369)
Balance (in shares) at Dec. 31, 2022   280,000    
Accumulated Deficit 8,507      
Net Income 1,597   1,597  
Translation adjustments and gains (losses) from intra-entity transactions of a long-term investment nature - including noncontrolling interest (net of tax impact) 18     18
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Reclassification Adjustment from AOCI, Realized upon Sale or Liquidation, before Tax 71      
Pension and post-retirement benefit plans (net of tax impact) (10)     (10)
Pension and post-retirement benefit plans (tax impact) 1      
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax (12)     (12)
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Tax 4      
Comprehensive income - including noncontrolling interests 1,664      
Dividends declared (680)   (680)  
Repurchase of shares of Common Stock $ (50) [1] $ (24) (26)  
Repurchase of shares of Common Stock (in shares) [1] (387)      
Employee stock option and SARs exercises (includes tax impact) $ 24 $ 24    
Employee stock option and SARs exercises (in shares)   1,000    
Compensation-related events (includes tax impact) 108 $ 108    
Balance at Dec. 31, 2023 (7,858) $ 60 $ (7,616) $ (302)
Balance (in shares) at Dec. 31, 2023   281,000    
Accumulated Deficit $ 7,616      
[1] 2021 amount excludes the effect of $11 million in share repurchases (0.1 million shares) with trade dates on, or prior to, December 31, 2020, but settlement dates subsequent to December 31, 2020.