Quarterly report pursuant to Section 13 or 15(d)

SHAREOWNERS' EQUITY (Tables)

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SHAREOWNERS' EQUITY (Tables)
 3 Months Ended
Mar. 31, 2021
Stockholders' Equity Note [Abstract]  
Schedule of Stockholders Equity
2021 2020
  Shares Dollars Shares Dollars
Class A Common Stock
Balance at beginning of period 147  $ 2  156  $ 2 
Common stock purchases —  —  —  — 
Stock award plans 4  —  4  — 
Common stock issuances 1  —  2  — 
Conversions of class A to class B common stock (4) —  (4) — 
Class A shares issued at end of period 148  $ 2  158  $ 2 
Class B Common Stock
Balance at beginning of period 718  $ 7  701  $ 7 
Common stock purchases —  —  (2) — 
Conversions of class A to class B common stock 4  —  4  — 
Class B shares issued at end of period 722  $ 7  703  $ 7 
Additional Paid-In Capital
Balance at beginning of period $ 865  $ 150 
Common stock purchases —  (217)
Stock award plans 30  (67)
Common stock issuances 154  163 
Balance at end of period $ 1,049  $ 29 
Retained Earnings
Balance at beginning of period $ 6,896  $ 9,105 
Net income attributable to common shareowners 4,792  965 
Dividends ($1.02 and $1.01 per share) (1)
(938) (933)
Other (2) — 
Balance at end of period $ 10,748  $ 9,137 
Non-Controlling Minority Interest
Balance at beginning of period $ 12  $ 16 
Change in non-controlling minority interest —  (2)
Balance at end of period $ 12  $ 14 
(1) The dividend per share amount is the same for both class A and class B common stock. Dividends include $80 and $93 million as of March 31, 2021 and March 31, 2020, respectively, that were settled in shares of class A common stock.
Schedule of Accumulated Other Comprehensive Income (Loss) The activity in AOCI for the three months ended March 31, 2021 and 2020 was as follows (in millions):
Three Months Ended March 31: 2021 2020
Foreign Currency Translation Gain (Loss), Net of Tax:
Balance at beginning of period $ (981) $ (1,078)
Translation adjustment (net of tax effect of $30 and $13)
 (82) (141)
Balance at end of period (1,063) (1,219)
Unrealized Gain (Loss) on Marketable Securities, Net of Tax:
Balance at beginning of period 6  4 
Current period changes in fair value (net of tax effect of $0 and $0)
 (1) 2 
Reclassification to earnings (net of tax effect of $0 and $0)
 (3) — 
Balance at end of period 2  6 
Unrealized Gain (Loss) on Cash Flow Hedges, Net of Tax:
Balance at beginning of period (223) 112 
Current period changes in fair value (net of tax effect of $39 and $83)
 124  263 
Reclassification to earnings (net of tax effect of $(3) and $(15))
 (10) (46)
Balance at end of period (109) 329 
Unrecognized Pension and Postretirement Benefit Costs, Net of Tax:
Balance at beginning of period (5,915) (5,035)
Net actuarial gain (loss) resulting from remeasurements of plan assets and liabilities (net of tax effect of $1,544 and $0)
 4,901  — 
Reclassification to earnings (net of tax effect of $(780) and $14)
 (2,475) 43 
Balance at end of period (3,489) (4,992)
Accumulated other comprehensive income (loss) at end of period $ (4,659) $ (5,876)
Gains (Losses) Reclassified from AOCI
Detail of the gains (losses) reclassified from AOCI to the statements of consolidated income for the three months ended March 31, 2021 and 2020 was as follows (in millions):
Amount Reclassified from AOCI Affected Line Item in the Income Statement
Three Months Ended March 31: 2021 2020
Unrealized Gain (Loss) on Marketable Securities:
Realized gain (loss) on sale of securities $ 3  $ —  Investment income and other
Income tax (expense) benefit —  —  Income tax expense
Impact on net income 3  —  Net income
Unrealized Gain (Loss) on Cash Flow Hedges:
Interest rate contracts (2) (3) Interest expense
Foreign exchange contracts 15  64  Revenue
Income tax (expense) benefit (3) (15) Income tax expense
Impact on net income 10  46  Net income
Unrecognized Pension and Postretirement Benefit Costs:
Prior service costs (35) (57) Investment income and other
Remeasurement of benefit obligation 3,290  —  Investment income and other
Income tax (expense) benefit (780) 14  Income tax expense
Impact on net income 2,475  (43) Net income
Total amount reclassified for the period $ 2,488  $ 3  Net income
Activity in Deferred Compensation Program
Activity in the deferred compensation program for the three months ended March 31, 2021 and 2020 was as follows (in millions):
2021 2020
Three Months Ended March 31: Shares Dollars Shares Dollars
Deferred Compensation Obligations:
Balance at beginning of period $ 20  $ 26 
Reinvested dividends —  — 
Benefit payments (5) (7)
Balance at end of period $ 15  $ 19 
Treasury Stock:
Balance at beginning of period —  $ (20) —  $ (26)
Reinvested dividends —  —  —  — 
Benefit payments —  5  —  7 
Balance at end of period —  $ (15) —  $ (19)