Quarterly report pursuant to Section 13 or 15(d)

SHAREOWNERS' EQUITY (Tables)

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SHAREOWNERS' EQUITY (Tables)
 3 Months Ended
Mar. 31, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]  
Schedule of Stockholders Equity [Table Text Block]
Three Months Ended March 31: 2020 2019
  Shares Dollars Shares Dollars
Class A Common Stock
Balance at beginning of period 156    $ 2    163    $ 2   
Common stock purchases —    —    (1)   —   
Stock award plans 4    —    3    —   
Common stock issuances 2    —    2    —   
Conversions of class A to class B common stock (4)   —    (3)   —   
Class A shares issued at end of period 158    $ 2    164    $ 2   
Class B Common Stock
Balance at beginning of period 701    $ 7    696    $ 7   
Common stock purchases (2)   —    (2)   —   
Conversions of class A to class B common stock 4    —    3    —   
Class B shares issued at end of period 703    7    697    7   
Additional Paid-In Capital
Balance at beginning of period $ 150    $ —   
Common stock purchases (217)   (251)  
Stock award plans (67)   169   
Common stock issuances 163    114   
Option premiums paid —    (5)  
Balance at end of period $ 29    $ 27   
Retained Earnings
Balance at beginning of period $ 9,105    8,006   
Net income attributable to common shareowners 965    1,111   
Dividends ($1.01 and $0.96 per share) (1)
(933)   (867)  
Other —    (1)  
Balance at end of period $ 9,137    $ 8,249   
Non-Controlling Minority Interest
Balance at beginning of period $ 16    $ 16   
Change in non-controlling minority interest (2)   2   
Balance at end of period $ 14    $ 18   
(1) The dividend per share amount is the same for both class A and class B common stock. Dividends include $93 and $68 million as of March 31, 2020 and March 31, 2019 respectively, that were settled in shares of class A common stock.
Schedule of Deferred Compensation and Treasury Stock Activity [Table Text Block]
Activity in the deferred compensation program for the three months ended March 31, 2020 and 2019 is as follows (in millions):
Three Months Ended March 31: 2020 2019
Shares Dollars Shares Dollars
Deferred Compensation Obligations:
Balance at beginning of period $ 26    $ 32   
Reinvested dividends —    1   
Benefit payments (7)   (8)  
Balance at end of period $ 19    $ 25   
Treasury Stock:
Balance at beginning of period —    $ (26)   (1)   $ (32)  
Reinvested dividends —    —    —    (1)  
Benefit payments —    7    —    8   
Balance at end of period —    (19)   (1)   (25)  
Schedule of Accumulated Other Comprehensive Income (Loss) The activity in AOCI for the three months ended March 31, 2020 and 2019 is as follows (in millions):
Three Months Ended March 31: 2020 2019
Foreign currency translation gain (loss), net of tax:
Balance at beginning of period $ (1,078)   $ (1,126)  
Translation adjustment (net of tax effect of $13 and $9)
 (141)   53   
Balance at end of period (1,219)   (1,073)  
Unrealized gain (loss) on marketable securities, net of tax:
Balance at beginning of period 4    (2)  
Current period changes in fair value (net of tax effect of $0 and $0)
 2    4   
Balance at end of period 6    2   
Unrealized gain (loss) on cash flow hedges, net of tax:
Balance at beginning of period 112    40   
Current period changes in fair value (net of tax effect of $83 and $28)
 263    89   
Reclassification to earnings (net of tax effect of $(15) and $(4))
 (46)   (13)  
Balance at end of period 329    116   
Unrecognized pension and postretirement benefit costs, net of tax:
Balance at beginning of period (5,035)   (3,906)  
Reclassification to earnings (net of tax effect of $14 and $13)
 43    43   
Balance at end of period (4,992)   (3,863)  
Accumulated other comprehensive income (loss) at end of period $ (5,876)   $ (4,818)  
Schedule of Reclassifications from Accumulated Other Comprehensive Income (Loss) to Earnings [Table Text Block]
Detail of the gains (losses) reclassified from AOCI to the statements of consolidated income for the three months ended March 31, 2020 and 2019 is as follows (in millions):
Three Months Ended March 31:
Amount Reclassified from AOCI Affected Line Item in the Income Statement
2020 2019
Unrealized gain (loss) on cash flow hedges:
Interest rate contracts (3)   (6)   Interest expense
Foreign exchange contracts 64    23    Revenue
Income tax (expense) benefit (15)   (4)   Income tax expense
Impact on net income 46    13    Net income
Unrecognized pension and postretirement benefit costs:
Prior service costs (57)   (56)   Investment income and other
Income tax (expense) benefit 14    13    Income tax expense
Impact on net income (43)   (43)   Net income
Total amount reclassified for the period $ 3    $ (30)   Net income