SHAREHOLDERS’ EQUITY

Share Repurchases. Our board of directors from time to time authorizes management’s repurchase of outstanding shares of our common stock on the open market. On March 1, 2017, the board of directors authorized management to repurchase up to 10 million additional shares of the company’s outstanding stock. In the six-month period ended July 1, 2018, we repurchased 2.1 million of our outstanding shares for $436. On July 1, 2018, 5.5 million shares remained authorized by our board of directors for repurchase, approximately 2% of our total shares outstanding. We repurchased 4.6 million shares for $893 in the six-month period ended July 2, 2017.

Dividends per Share. Our board of directors declared dividends of $0.93 and $1.86 per share for the three- and six-month periods ended July 1, 2018, and $0.84 and $1.68 per share for the three- and six-month periods ended July 2, 2017, respectively. We paid cash dividends of $276 and $526 for the three- and six-month periods ended July 1, 2018, and $253 and $483 for the three- and six-month periods ended July 2, 2017, respectively.

Accumulated Other Comprehensive Loss. The changes, pretax and net of tax, in each component of accumulated other comprehensive loss (AOCL) consisted of the following:



	Losses on Cash Flow Hedges			Unrealized Gains on Marketable Securities			Foreign Currency Translation Adjustments			Changes in Retirement Plans’ Funded Status			AOCL
December 31, 2017	$	(94	)	$	19		$	402		$	(3,147	)	$	(2,820	)
Cumulative effect adjustments (see Note A)	(4		)	(19		)	—			(615		)	(638		)
Other comprehensive income, pretax	(21		)	—			(215		)	163			(73		)
Provision for income tax, net	7			—			—			(34		)	(27		)
Other comprehensive loss, net of tax	(14		)	—			(215		)	129			(100		)
July 1, 2018	$	(112	)	$	—		$	187		$	(3,633	)	$	(3,558	)



December 31, 2016	$	(345	)	$	14		$	69		$	(3,125	)	$	(3,387	)
Other comprehensive income, pretax	148			7			281			132			568
Provision for income tax, net	(39		)	(2		)	(15		)	(47		)	(103		)
Other comprehensive income, net of tax	109			5			266			85			465
July 2, 2017	$	(236	)	$	19		$	335		$	(3,040	)	$	(2,922	)

Current-period amounts reclassified out of AOCL related primarily to changes in our retirement plans’ funded status and consisted of pretax recognized net actuarial losses of $187 and $170 for the six-month periods ended July 1, 2018, and July 2, 2017, respectively. This was offset partially by pretax amortization of prior service credit of $24 and $35 for the six-month periods ended July 1, 2018, and July 2, 2017, respectively. These AOCL components are included in our net periodic pension and other post-retirement benefit cost. See Note N for additional details.