Quarterly report pursuant to Section 13 or 15(d)

SHAREOWNERS' EQUITY

v3.19.2
SHAREOWNERS' EQUITY
6 Months Ended
Jun. 30, 2019
Stockholders' Equity Note [Abstract]  
Schedule of Deferred Compensation and Treasury Stock Activity [Table Text Block]
Activity in the deferred compensation program for the three and six months ended June 30, 2019 and 2018 is as follows (in millions):
Three Months Ended June 30:
2019
 
2018
 
Shares
 
Dollars
 
Shares
 
Dollars
Deferred Compensation Obligations:
 
 
 
 
 
 
 
Balance at beginning of period
 
 
$
25

 
 
 
$
31

Reinvested dividends
 
 

 
 
 

Benefit payments
 
 

 
 
 

Balance at end of period
 
 
$
25

 
 
 
$
31

Treasury Stock:
 
 
 
 
 
 
 
Balance at beginning of period
(1
)
 
$
(25
)
 
(1
)
 
$
(31
)
Reinvested dividends

 

 

 

Benefit payments
1

 

 

 

Balance at end of period

 
(25
)
 
(1
)
 
(31
)



Six Months Ended June 30:
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
1

 
8

 

 
7

Balance at end of period

 
(25
)
 
(1
)
 
(31
)


Schedule of Accumulated Other Comprehensive Income (Loss) The activity in AOCI for the three and six months ended June 30, 2019 and 2018 is as follows (in millions):
Three Months Ended June 30:
2019
 
2018
Foreign currency translation gain (loss), net of tax:
 
 
 
Balance at beginning of period
$
(1,073
)
 
$
(983
)
Translation adjustment (net of tax effect of $(7) and $34)
(33
)
 
(78
)
Balance at end of period
(1,106
)
 
(1,061
)
Unrealized gain (loss) on marketable securities, net of tax:
 
 
 
Balance at beginning of period
2

 
(5
)
Current period changes in fair value (net of tax effect of $3 and $0)
5

 

Balance at end of period
7

 
(5
)
Unrealized gain (loss) on cash flow hedges, net of tax:
 
 
 
Balance at beginning of period
116

 
(511
)
Current period changes in fair value (net of tax effect of $5 and $100)
15

 
312

Reclassification to earnings (net of tax effect of $(9) and $6)
(27
)
 
20

Balance at end of period
104

 
(179
)
Unrecognized pension and postretirement benefit costs, net of tax:
 
 
 
Balance at beginning of period
(3,863
)
 
(4,139
)
Reclassification to earnings (net of tax effect of $14 and $12)
43

 
38

Balance at end of period
(3,820
)
 
(4,101
)
Accumulated other comprehensive income (loss) at end of period
$
(4,815
)
 
$
(5,346
)

Six Months Ended June 30:
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 $2 and $25)
20

 
(84
)
Reclassification to retained earnings pursuant to the early adoption of ASU 2018-02

 
(47
)
Balance at end of period
(1,106
)
 
(1,061
)
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 $3 and $(1))
9

 
(4
)
Reclassification to earnings (net of tax effect of $0 and $1)

 
1

Balance at end of period
7

 
(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 $33 and $67)
104

 
210

Reclassification to retained earnings pursuant to the early adoption of ASU 2018-02

 
(79
)
Reclassification to earnings (net of tax effect of $(13) and $18)
(40
)
 
56

Balance at end of period
104

 
(179
)
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 $27 and $24)
86

 
77

Reclassification to retained earnings pursuant to the early adoption of ASU 2018-02

 
(609
)
Balance at end of period
(3,820
)
 
(4,101
)
Accumulated other comprehensive income (loss) at end of period
$
(4,815
)
 
$
(5,346
)