Annual report pursuant to Section 13 and 15(d)

SHAREOWNERS' EQUITY (Tables)

v3.3.1.900
SHAREOWNERS' EQUITY (Tables)
12 Months Ended
Dec. 31, 2015
Stockholders' Equity Note [Abstract]  
Roll-forward of Common Stock, Additional Paid-in Capital, and Retained Earnings Accounts
The following is a rollforward of our common stock, additional paid-in capital, and retained earnings accounts (in millions, except per share amounts):
 
2015
 
2014
 
2013
 
Shares
 
Dollars
 
Shares
 
Dollars
 
Shares
 
Dollars
Class A Common Stock:
 
 
 
 
 
 
 
 
 
 
 
Balance at beginning of year
201

 
$
2

 
212

 
$
2

 
225

 
$
3

Common stock purchases
(4
)
 

 
(5
)
 

 
(8
)
 
(1
)
Stock award plans
5

 

 
5

 

 
9

 

Common stock issuances
3

 

 
3

 

 
4

 

Conversions of class A to class B common stock
(11
)
 

 
(14
)
 

 
(18
)
 

Class A shares issued at end of year
194

 
$
2

 
201

 
$
2

 
212

 
$
2

Class B Common Stock:
 
 
 
 
 
 
 
 
 
 
 
Balance at beginning of year
705

 
$
7

 
712

 
$
7

 
729

 
$
7

Common stock purchases
(23
)
 

 
(21
)
 

 
(35
)
 

Conversions of class A to class B common stock
11

 

 
14

 

 
18

 

Class B shares issued at end of year
693

 
$
7

 
705

 
$
7

 
712

 
$
7

Additional Paid-In Capital:
 
 
 
 
 
 
 
 
 
 
 
Balance at beginning of year
 
 
$

 
 
 
$

 
 
 
$

Stock award plans
 
 
492

 
 
 
656

 
 
 
554

Common stock purchases
 
 
(791
)
 
 
 
(918
)
 
 
 
(768
)
Common stock issuances
 
 
316

 
 
 
309

 
 
 
307

Option premiums received (paid)
 
 
(17
)
 
 
 
(47
)
 
 
 
(93
)
Balance at end of year
 
 
$

 
 
 
$

 
 
 
$

Retained Earnings:
 
 
 
 
 
 
 
 
 
 
 
Balance at beginning of year
 
 
$
5,726

 
 
 
$
6,925

 
 
 
$
7,997

Net income attributable to controlling interests
 
 
4,844

 
 
 
3,032

 
 
 
4,372

Dividends ($2.92, $2.68 and $2.48 per share)
 
 
(2,649
)
 
 
 
(2,487
)
 
 
 
(2,367
)
Common stock purchases
 
 
(1,920
)
 
 
 
(1,744
)
 
 
 
(3,077
)
Balance at end of year
 
 
$
6,001

 
 
 
$
5,726

 
 
 
$
6,925

Activity in Accumulated Other Comprehensive Income (Loss)
The activity in AOCI is as follows (in millions):
 
2015
 
2014
 
2013
Foreign Currency Translation Gain (Loss):
 
 
 
 
 
Balance at beginning of year
$
(457
)
 
$
(126
)
 
$
134

Reclassification to earnings (no tax impact in any period)

 

 
(161
)
Translation adjustment (net of tax effect of $0, $105, and $(5))
(440
)
 
(331
)
 
(99
)
Balance at end of year
(897
)
 
(457
)
 
(126
)
Unrealized Gain (Loss) on Marketable Securities, Net of Tax:
 
 
 
 
 
Balance at beginning of year

 
(1
)
 
6

Current period changes in fair value (net of tax effect of $(1), $1, and $(3))
(1
)
 
2

 
(4
)
Reclassification to earnings (net of tax effect of $0, $0, and $(2))

 
(1
)
 
(3
)
Balance at end of year
(1
)
 

 
(1
)
Unrealized Gain (Loss) on Cash Flow Hedges, Net of Tax:
 
 
 
 
 
Balance at beginning of year
61

 
(219
)
 
(286
)
Current period changes in fair value (net of tax effect of $103, $133, and $1)
171

 
220

 
1

Reclassification to earnings (net of tax effect of $(99), $35, and $39)
(165
)
 
60

 
66

Balance at end of year
67

 
61

 
(219
)
Unrecognized Pension and Postretirement Benefit Costs, Net of Tax:
 
 
 
 
 
Balance at beginning of year
(3,198
)
 
(114
)
 
(3,208
)
Reclassification to earnings (net of tax effect of $97, $870, and $67)
195

 
1,462

 
111

Net actuarial gain (loss) and prior service cost resulting from remeasurements of plan assets and liabilities (net of tax effect of $197, $(2,714), and $1,786)
294

 
(4,546
)
 
2,983

Balance at end of year
(2,709
)
 
(3,198
)
 
(114
)
Accumulated other comprehensive income (loss) at end of year
$
(3,540
)
 
$
(3,594
)
 
$
(460
)
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]
Detail of the gains (losses) reclassified from AOCI to the statements of consolidated income for the years ended December 31, 2015, 2014 and 2013 is as follows (in millions):
 
2015 Amount Reclassified from AOCI
 
2014 Amount Reclassified from AOCI
 
2013 Amount Reclassified from AOCI
 
Affected Line Item in the Income Statement
Foreign Currency Translation Gain (Loss):
 
 
 
 
 
 
 
Liquidation of foreign subsidiary
$

 
$

 
$
161

 
Other expenses
Impact on net income

 

 
161

 
Net income
Unrealized Gain (Loss) on Marketable Securities:
 
 
 
 
 
 
 
Realized gain (loss) on sale of securities

 
1

 
5

 
Investment income
Income tax (expense) benefit

 

 
(2
)
 
Income tax expense
Impact on net income

 
1

 
3

 
Net income
Unrealized Gain (Loss) on Cash Flow Hedges:
 
 
 
 
 
 
 
Interest rate contracts
(24
)
 
(23
)
 
(22
)
 
Interest expense
Foreign exchange contracts
(25
)
 
(48
)
 
18

 
Interest expense
Foreign exchange contracts
313

 
(24
)
 
(53
)
 
Revenue
Commodity contracts

 

 
(48
)
 
Fuel expense
Income tax (expense) benefit
(99
)
 
35

 
39

 
Income tax expense
Impact on net income
165

 
(60
)
 
(66
)
 
Net income
Unrecognized Pension and Postretirement Benefit Costs:
 
 
 
 
 
 
 
Prior service costs
(174
)
 
(170
)
 
(178
)
 
Compensation and benefits
Curtailment and settlement loss

 
(356
)
 

 
Compensation and benefits
Remeasurement of benefit obligation
(118
)
 
(1,806
)
 

 
Compensation and benefits
Income tax (expense) benefit
97

 
870

 
67

 
Income tax expense
Impact on net income
(195
)
 
(1,462
)
 
(111
)
 
Net income
 
 
 
 
 
 
 
 
Total amount reclassified for the period
$
(30
)
 
$
(1,521
)
 
$
(13
)
 
Net income
Activity in Deferred Compensation Program
Activity in the deferred compensation program for the years ended December 31, 2015, 2014 and 2013 is as follows (in millions):
 
2015
 
2014
 
2013
 
Shares
 
Dollars
 
Shares
 
Dollars
 
Shares
 
Dollars
Deferred Compensation Obligations:
 
 
 
 
 
 
 
 
 
 
 
Balance at beginning of year
 
 
$
59

 
 
 
$
69

 
 
 
$
78

Reinvested dividends
 
 
3

 
 
 
2

 
 
 
4

Options exercise deferrals
 
 

 
 
 

 
 
 

Benefit payments
 
 
(11
)
 
 
 
(12
)
 
 
 
(13
)
Balance at end of year
 
 
$
51

 
 
 
$
59

 
 
 
$
69

Treasury Stock:
 
 
 
 
 
 
 
 
 
 
 
Balance at beginning of year
(1
)
 
$
(59
)
 
(1
)
 
$
(69
)
 
(1
)
 
$
(78
)
Reinvested dividends

 
(3
)
 

 
(2
)
 

 
(4
)
Options exercise deferrals

 

 

 

 

 

Benefit payments

 
11

 

 
12

 

 
13

Balance at end of year
(1
)
 
$
(51
)
 
(1
)
 
$
(59
)
 
(1
)
 
$
(69
)