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Consolidated Statement of Changes in Shareowners’ Equity

(In millions) 2007 2006 2005

(a) The effect of the 2006 accounting change was previously included in the caption “Benefit plans — net.”

See accompanying notes.

CHANGES IN SHAREOWNERS' EQUITY (note 22)
Balance at January 1 $ 111,509 $ 108,633 $ 110,181
Dividends and other transactions with shareowners (23,102) (17,983) (13,249)
Changes other than transactions with shareowners
Investment securities — net (1,484) (223) (437)
Currency translation adjustments — net 4,527 3,649 (4,318)
Cash flow hedges — net (539) 223 (47)
Benefit plans — net 2,566 287 (217)
Total changes other than earnings 5,070 3,936 (5,019)
Increases attributable to net earnings 22,208 20,742 16,720
Total changes other than transactions with shareowners 27,278 24,678 11,701
Cumulative effect of changes in accounting principles(a) (126) (3,819)
Balance at December 31 $ 115,559 $ 111,509 $ 108,633