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Equity
 12 Months Ended
Dec. 31, 2012
Equity [Abstract]  
EQUITY
13.
EQUITY
Share Activity
For the years ended December 31, 2012, 2011, and 2010, activity in the number of shares of common stock and treasury stock was as follows (in millions):
 
Common
Stock
 
Treasury
Stock
Balance as of December 31, 2009
673

 
(109
)
Transactions in connection with
stock-based compensation plans:
 
 
 
Stock issuances
—

 
5

Stock repurchases
—

 
(1
)
Balance as of December 31, 2010
673

 
(105
)
Transactions in connection with
stock-based compensation plans:
 
 
 
Stock issuances
—

 
5

Stock repurchases
—

 
(17
)
Balance as of December 31, 2011
673

 
(117
)
Transactions in connection with
stock-based compensation plans:
 
 
 
Stock issuances
—

 
6

Stock repurchases
—

 
(6
)
Stock repurchases under buyback program
—

 
(4
)
Balance as of December 31, 2012
673

 
(121
)

Preferred Stock
We have 20 million shares of preferred stock authorized with a par value of $0.01 per share. No shares of preferred stock were outstanding as of December 31, 2012 and 2011.
Treasury Stock
We purchase shares of our common stock in open market transactions to meet our obligations under employee stock-based compensation plans. We also purchase shares of our common stock from our employees and non-employee directors in connection with the exercise of stock options, the vesting of restricted stock, and other stock compensation transactions.
On February 28, 2008, our board of directors approved a $3 billion common stock purchase program, which is in addition to the remaining amount under a $6 billion program previously authorized. This additional $3 billion program has no expiration date. As of December 31, 2012, we had purchased $118 million of our common stock under this $3 billion program. As of December 31, 2012, we have approvals under these stock purchase programs to purchase approximately $3.3 billion of our common stock.
Common Stock Dividends
On January 23, 2013, our board of directors declared a quarterly cash dividend of $0.20 per common share payable March 13, 2013 to holders of record at the close of business on February 13, 2013.
Income Tax Effects Related to Components of Other Comprehensive Income
The following table reflects the tax effects allocated to each component of other comprehensive income for the years ended December 31, 2012, 2011, and 2010:
 
Before-Tax Amount
 
Tax Expense (Benefit)
 
Net Amount
Year Ended December 31, 2012:
 
 
 
 
 
Foreign currency translation adjustment
$
164

 
$
—

 
$
164

Pension and other postretirement benefits:
 
 
 
 
 
Loss arising during the year related to:
 
 
 
 
 
Net actuarial loss
(228
)
 
(79
)
 
(149
)
Prior service cost
(9
)
 
(3
)
 
(6
)
(Gain) loss reclassified into income related to:
 
 
 
 
 
Net actuarial loss
34

 
12

 
22

Prior service credit
(20
)
 
(7
)
 
(13
)
Settlement
12

 
—

 
12

Net loss on pension and other
postretirement benefits
(211
)
 
(77
)
 
(134
)
Derivative instruments designated and
qualifying as cash flow hedges:
 
 
 
 
 
Net gain arising during the year
45

 
16

 
29

Net gain reclassified into income
(73
)
 
(26
)
 
(47
)
Net loss on cash flow hedges
(28
)
 
(10
)
 
(18
)
Other comprehensive income (loss)
$
(75
)
 
$
(87
)
 
$
12

 
Before-Tax Amount
 
Tax Expense (Benefit)
 
Net Amount
Year Ended December 31, 2011:
 
 
 
 
 
Foreign currency translation adjustment
$
(122
)
 
$
—

 
$
(122
)
Pension and other postretirement benefits:
 
 
 
 
 
Loss arising during the year related to:
 
 
 
 
 
Net actuarial loss
(285
)
 
(100
)
 
(185
)
Prior service cost
(4
)
 
(1
)
 
(3
)
(Gain) loss reclassified into income related to:
 
 
 
 
 
Net actuarial loss
14

 
4

 
10

Prior service credit
(21
)
 
(7
)
 
(14
)
Settlement
4

 
1

 
3

Net loss on pension and other
postretirement benefits
(292
)
 
(103
)
 
(189
)
Derivative instruments designated and
qualifying as cash flow hedges:
 
 
 
 
 
Net gain arising during the year
32

 
11

 
21

Net gain reclassified into income
(3
)
 
(1
)
 
(2
)
Net gain on cash flow hedges
29

 
10

 
19

Other comprehensive loss
$
(385
)
 
$
(93
)
 
$
(292
)
Year Ended December 31, 2010:
 
 
 
 
 
Foreign currency translation adjustment
$
158

 
$
—

 
$
158

Pension and other postretirement benefits:
 

 
 
 
 
Gain (loss) arising during the year related to:
 
 
 
 
 
Net actuarial loss
(40
)
 
(6
)
 
(34
)
Prior service credit
31

 
11

 
20

(Gain) loss reclassified into income related to:
 
 
 
 
 
Net actuarial loss
6

 
2

 
4

Prior service credit
(17
)
 
(6
)
 
(11
)
Settlement
4

 
1

 
3

Net gain (loss) on pension and other postretirement benefits
(16
)
 
2

 
(18
)
Derivative instruments designated and
qualifying as cash flow hedges:
 

 
 
 
 
Net loss arising during the year
(2
)
 
(1
)
 
(1
)
Net gain reclassified into income
(178
)
 
(62
)
 
(116
)
Net loss on cash flow hedges
(180
)
 
(63
)
 
(117
)
Other comprehensive income (loss)
$
(38
)
 
$
(61
)
 
$
23



Accumulated Other Comprehensive Income
Changes in the balances of each component of accumulated other comprehensive income (loss) were as follows (in millions):
 
Foreign
Currency
Translation
Adjustment
 
Pension/
OPEB
Liability
Adjustment
 
Net Gain (Loss) On Cash Flow Hedges
 
Accumulated
Other
Comprehensive
Income (Loss)
Balance as of December 31, 2009
$
465

 
$
(217
)
 
$
117

 
$
365

Other comprehensive income (loss)
158

 
(18
)
 
(117
)
 
23

Balance as of December 31, 2010
623

 
(235
)
 
—

 
388

Other comprehensive income (loss)
(122
)
 
(189
)
 
19

 
(292
)
Balance as of December 31, 2011
501

 
(424
)
 
19

 
96

Other comprehensive income (loss)
164

 
(134
)
 
(18
)
 
12

Balance as of December 31, 2012
$
665

 
$
(558
)
 
$
1

 
$
108