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Equity and Accumulated Other Comprehensive Earnings | 3 Months Ended
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Mar. 31, 2020
Equity and Accumulated Other Comprehensive Earnings |
Equity and Accumulated Other Comprehensive Earnings | 18. Equity and Accumulated Other Comprehensive Earnings ​ The following tables provide additional details of the company’s equity activity: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Common Stock | ​ | Treasury Stock | ​ | ​ | ​ | ​ | Accumulated Other | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Number of | ​ | ​ | ​ | Number of | ​ | ​ | ​ | Retained | ​ | Comprehensive | ​ | Noncontrolling | ​ | Total
($ in millions; share amounts in thousands) |  | Shares |  | Amount |  | Shares |  | Amount |  | Earnings |  | Earnings (Loss) |  | Interest |  | Equity
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Balance at December 31, 2019 | ​ | 676,302 | ​ | $ | 1,178 | ​ | (351,667) | ​ | $ | (3,122) | ​ | $ | 5,803 | ​ | $ | (910) | ​ | $ | 70 | ​ | $ | 3,019
Net earnings | ​ | — | ​ | ​ | — | ​ | — | ​ | ​ | — | ​ | ​ | 23 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 23
Other comprehensive earnings (loss), net of tax | ​ | — | ​ | ​ | — | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (229) | ​ | ​ | — | ​ | ​ | (229)
Common dividends, net of tax benefits | ​ | — | ​ | ​ | — | ​ | — | ​ | ​ | — | ​ | ​ | (49) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (49)
Treasury stock purchases | ​ | — | ​ | ​ | — | ​ | (774) | ​ | ​ | (54) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (54)
Treasury shares reissued | ​ | — | ​ | ​ | — | ​ | 232 | ​ | ​ | 7 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 7
Shares issued and stock compensation for stock options and other stock plans, net of shares exchanged | ​ | 1,826 | ​ | ​ | (27) | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (27)
Other activity | ​ | — | ​ | ​ | — | ​ | — | ​ | ​ | 10 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 10
Balance at March 31, 2020 | ​ | 678,128 | ​ | $ | 1,151 | ​ | (352,209) | ​ | $ | (3,159) | ​ | $ | 5,777 | ​ | $ | (1,139) | ​ | $ | 70 | ​ | $ | 2,700
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Common Stock | ​ | Treasury Stock | ​ | ​ | ​ | ​ | Accumulated Other | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Number of | ​ | ​ | ​ | Number of | ​ | ​ | ​ | Retained | ​ | Comprehensive | ​ | Noncontrolling | ​ | Total
($ in millions; share amounts in thousands) |  | Shares |  | Amount |  | Shares |  | Amount |  | Earnings |  | Earnings (Loss) |  | Interest |  | Equity
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Balance at December 31, 2018 | ​ | 673,237 | ​ | $ | 1,157 | ​ | (337,979) | ​ | $ | (2,205) | ​ | $ | 5,341 | ​ | $ | (835) | ​ | $ | 104 | ​ | $ | 3,562
Net earnings | ​ | — | ​ | ​ | — | ​ | — | ​ | ​ | — | ​ | ​ | 117 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 117
Other comprehensive earnings (loss), net of tax | ​ | — | ​ | ​ | — | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 125 | ​ | ​ | — | ​ | ​ | 125
Reclassification of stranded tax effects | ​ | — | ​ | ​ | — | ​ | — | ​ | ​ | — | ​ | ​ | 79 | ​ | ​ | (79) | ​ | ​ | — | ​ | ​ | —
Common dividends, net of tax benefits | ​ | — | ​ | ​ | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (34) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (34)
Treasury stock purchases | ​ | — | ​ | ​ | — | ​ | (2,634) | ​ | ​ | (129) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (129)
Treasury shares reissued | ​ | — | ​ | ​ | — | ​ | 390 | ​ | ​ | 5 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 5
Shares issued and stock compensation for stock options and other stock plans, net of shares exchanged | ​ | 1,455 | ​ | ​ | (3) | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (3)
Other activity | ​ | — | ​ | ​ | — | ​ | — | ​ | ​ | 6 | ​ | ​ | 1 | ​ | ​ | — | ​ | ​ | (1) | ​ | ​ | 6
Balance at March 31, 2019 | ​ | 674,692 | ​ | $ | 1,154 | ​ | (340,223) | ​ | $ | (2,323) | ​ | $ | 5,504 | ​ | $ | (789) | ​ | $ | 103 | ​ | $ | 3,649
​ Accumulated Other Comprehensive Earnings (Loss) ​ The activity related to accumulated other comprehensive earnings (loss) was as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
($ in millions) |  | Foreign Currency Translation (Net of Tax) |  | Pension and Other Postretirement Benefits (Net of Tax) |  | Derivatives Designated as Hedges (Net of Tax) |  | Accumulated Other Comprehensive Earnings (Loss)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Balance at December 31, 2019 | ​ | $ | (340) | ​ | $ | (558) | ​ | $ | (12) | ​ | $ | (910)
Other comprehensive earnings (loss) before reclassifications | ​ | ​ | (224) | ​ | ​ | (18) | ​ | ​ | 20 | ​ | ​ | (222)
Amounts reclassified from accumulated other comprehensive earnings (loss) into earnings | ​ | ​ | — | ​ | ​ | 8 | ​ | ​ | (15) | ​ | ​ | (7)
Balance at March 31, 2020 | ​ | $ | (564) | ​ | $ | (568) | ​ | $ | (7) | ​ | $ | (1,139)
​ The following table provides additional details of the amounts recognized into net earnings from accumulated other comprehensive earnings (loss): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended March 31, | ​
($ in millions) |  | 2020 |  | 2019 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Gains (losses) on cash flow hedges: | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commodity contracts recorded in net sales | ​ | $ | — | ​ | $ | 2 | ​
Commodity contracts recorded in cost of sales | ​ | ​ | 4 | ​ | ​ | (5) | ​
Currency exchange contracts recorded in selling, general and administrative | ​ | ​ | 18 | ​ | ​ | 23 | ​
Cross-currency swaps recorded in interest expense | ​ | ​ | (1) | ​ | ​ | 4 | ​
Interest rate contracts recorded in interest expense | ​ | ​ | (1) | ​ | ​ | — | ​
Total before tax effect | ​ | ​ | 20 | ​ | ​ | 24 | ​
Tax benefit (expense) on amounts reclassified into earnings | ​ | ​ | (5) | ​ | ​ | (6) | ​
Recognized gain (loss), net of tax | ​ | $ | 15 | ​ | $ | 18 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Amortization of pension and other postretirement benefits: (a) | ​ | ​ | ​ | ​ | ​ | ​ | ​
Actuarial gains (losses) | ​ | $ | (11) | ​ | $ | (5) | ​
Total before tax effect | ​ | ​ | (11) | ​ | ​ | (5) | ​
Tax benefit (expense) on amounts reclassified into earnings | ​ | ​ | 3 | ​ | ​ | 1 | ​
Recognized gain (loss), net of tax | ​ | $ | (8) | ​ | $ | (4) | ​
(a) | These components include the computation of net periodic benefit cost detailed in Note 17.
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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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