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STOCKHOLDERS' EQUITY | 9 Months Ended
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Sep. 24, 2017
Equity [Abstract] |
STOCKHOLDERS' EQUITY | STOCKHOLDERS’ EQUITY Repurchases of Common Stock During the nine months ended September 24, 2017, we repurchased 5.4 million shares of our common stock for $1.5 billion. The total remaining authorization for future common share repurchases under our share repurchase program was $2.0 billion as of September 24, 2017. On September 28, 2017, subsequent to the end of our third quarter, our Board of Directors authorized a $2.0 billion increase to the program. As we repurchase our common shares, we reduce common stock for the $1 of par value of the shares repurchased, with the excess purchase price over par value recorded as a reduction of additional paid-in capital. If additional paid-in capital is reduced to zero, we record the remainder of the excess purchase price over par value as a reduction of retained earnings. Due to the volume of repurchases made under our share repurchase program, additional paid-in capital was reduced to zero, with the remainder of the excess purchase price over par value of $1.2 billion and $1.0 billion recorded as a reduction of retained earnings during the nine months ended September 24, 2017 and September 25, 2016, respectively. Dividends We declared cash dividends totaling $1.6 billion ($5.46 per share) and $2.1 billion ($6.77 per share) during the nine months ended September 24, 2017 and September 25, 2016. Dividends declared in 2016 includes our fourth quarter dividend of $537 million ($1.82 per share), which was declared during the quarter ended September 25, 2016 and paid in the fourth quarter of 2016. On September 28, 2017, subsequent to the end of our third quarter, we increased our quarterly dividend rate by 10%, or $0.18 per share, to $2.00 per share, and we declared our fourth quarter dividend. Restricted Stock Unit Grants During the quarter ended September 24, 2017, there were no significant grants of RSUs. During the nine months ended September 24, 2017, we granted certain employees approximately 0.5 million RSUs with a grant date fair value of $254.53 per RSU. The grant date fair value of these RSUs is equal to the closing market price of our common stock on the grant date less a discount to reflect the delay in payment of dividend-equivalent cash payments that are made only upon vesting, which is generally three years from the grant date. We recognize the grant date fair value of RSUs, less estimated forfeitures, as compensation expense ratably over the requisite service period, which is shorter than the vesting period if the employee is retirement eligible on the date of grant or will become retirement eligible before the end of the vesting period. Accumulated Other Comprehensive Loss Changes in the balance of AOCL, net of tax, consisted of the following (in millions):
|  | Postretirement Benefit Plans |  | Other, net |  | AOCL
Balance at December 31, 2016 |  | $ | (11,981 | ) |  | $ | (121 | ) |  | $ | (12,102 | )
Other comprehensive income before reclassifications |  | 3 |  |  | 123 |  |  | 126 |
Amounts reclassified from AOCL |  |  |  |  |  |
Recognition of net actuarial losses (a) |  | 774 |  |  | — |  |  | 774 |
Amortization of net prior service credits (a) |  | (172 | ) |  | — |  |  | (172 | )
Other |  | — |  |  | 14 |  |  | 14 |
Total reclassified from AOCL |  | 602 |  |  | 14 |  |  | 616 |
Total other comprehensive income |  | 605 |  |  | 137 |  |  | 742 |
Balance at September 24, 2017 |  | $ | (11,376 | ) |  | $ | 16 |  |  | $ | (11,360 | )
Balance at December 31, 2015 |  | $ | (11,314 | ) |  | $ | (130 | ) |  | $ | (11,444 | )
Other comprehensive loss before reclassifications |  | — |  |  | (46 | ) |  | (46 | )
Amounts reclassified from AOCL |  |  |  |  |  |
Recognition of net actuarial losses (a) |  | 703 |  |  | — |  |  | 703 |
Amortization of net prior service credits (a) |  | (182 | ) |  | — |  |  | (182 | )
Recognition of net prior service credits from divestiture of IS&GS (b) |  | (134 | ) |  | — |  |  | (134 | )
Other |  | — |  |  | 112 |  |  | 112 |
Total reclassified from AOCL |  | 387 |  |  | 112 |  |  | 499 |
Total other comprehensive income |  | 387 |  |  | 66 |  |  | 453 |
Balance at September 25, 2016 |  | $ | (10,927 | ) |  | $ | (64 | ) |  | $ | (10,991 | )
(a) | Reclassifications from AOCL related to our postretirement benefit plans were recorded as a component of net periodic benefit cost for each period presented (see “Note 6 – Postretirement Plans”). These amounts include $200 million and $175 million, net of tax, for the quarters ended September 24, 2017 and September 25, 2016, which are comprised of the recognition of net actuarial losses of $258 million and $234 million for the quarters ended September 24, 2017 and September 25, 2016 and the amortization of net prior service credits of $(58) million and $(59) million for the quarters ended September 24, 2017 and September 25, 2016.
(b) | Associated with the divestiture of the IS&GS business and included in net gain on divestiture of discontinued operations.

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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