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Equity | 12 Months Ended
--- | ---
Dec. 31, 2015
Equity [Abstract] |
EQUITY |
12. | EQUITY
Share Activity 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, 2012 | 673 |  |  | (121 | )
Transactions in connection with stock-based compensation plans: |  |  |
Stock issuances | — |  |  | 6 |
Stock purchases | — |  |  | (6 | )
Stock purchases under purchase program | — |  |  | (17 | )
Balance as of December 31, 2013 | 673 |  |  | (138 | )
Transactions in connection with stock-based compensation plans: |  |  |
Stock issuances | — |  |  | 4 |
Stock purchases | — |  |  | (2 | )
Stock purchases under purchase program | — |  |  | (23 | )
Balance as of December 31, 2014 | 673 |  |  | (159 | )
Transactions in connection with stock-based compensation plans: |  |  |
Stock issuances | — |  |  | 4 |
Stock purchases | — |  |  | (3 | )
Stock purchases under purchase program | — |  |  | (42 | )
Balance as of December 31, 2015 | 673 |  |  | (200 | )
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, 2015 or 2014. Treasury Stock We purchase shares of our common stock as authorized under our common stock purchase program (described below) and to meet our obligations under employee stock-based compensation plans. On February 28, 2008, our board of directors approved a $3 billion common stock purchase program, which was in addition to a $6 billion program previously authorized. This additional $3 billion program had no expiration date. We completed the $6 billion program during 2013 and the $3 billion program during 2015. On July 13, 2015, our board of directors authorized us to purchase an additional $2.5 billion of our outstanding common stock with no expiration date. During the years ended December 31, 2015, 2014, and 2013, we purchased $2.7 billion, $1.2 billion, and $692 million, respectively, of our common stock under our programs. As of December 31, 2015, we have approvals under the $2.5 billion program to purchase approximately $1.3 billion of our common stock. Common Stock Dividends On January 21, 2016, our board of directors declared a quarterly cash dividend of $0.60 per common share payable March 3, 2016 to holders of record at the close of business on February 9, 2016. Income Tax Effects Related to Components of Other Comprehensive Income (Loss) The tax effects allocated to each component of other comprehensive income (loss) were as follows (in millions):
| Before-Tax Amount |  | Tax Expense (Benefit) |  | Net Amount
Year Ended December 31, 2015: |  |  |  |  |
Foreign currency translation adjustment | $ | (606 | ) |  | $ | — |  |  | $ | (606 | )
Pension and other postretirement benefits: |  |  |  |  |
Gain (loss) arising during the year related to: |  |  |  |  |
Net actuarial gain | 50 |  |  | 15 |  |  | 35 |
Prior service cost | (22 | ) |  | (8 | ) |  | (14 | )
Amounts reclassified into income related to: |  |  |  |  |
Net actuarial loss | 62 |  |  | 22 |  |  | 40 |
Prior service credit | (40 | ) |  | (14 | ) |  | (26 | )
Curtailment and settlement | 7 |  |  | 2 |  |  | 5 |
Net gain on pension and other postretirement benefits | 57 |  |  | 17 |  |  | 40 |
Other comprehensive loss | $ | (549 | ) |  | $ | 17 |  |  | $ | (566 | )
| Before-Tax Amount |  | Tax Expense (Benefit) |  | Net Amount
Year Ended December 31, 2014: |  |  |  |  |
Foreign currency translation adjustment | $ | (407 | ) |  | $ | — |  |  | $ | (407 | )
Pension and other postretirement benefits: |  |  |  |  |
Loss arising during the year related to: |  |  |  |  |
Net actuarial loss | (471 | ) |  | (162 | ) |  | (309 | )
Prior service cost | (1 | ) |  | (1 | ) |  | — |
Amounts reclassified into income related to: |  |  |  |  |
Net actuarial loss | 34 |  |  | 12 |  |  | 22 |
Prior service credit | (40 | ) |  | (14 | ) |  | (26 | )
Curtailment and settlement | 3 |  |  | — |  |  | 3 |
Net loss on pension and other postretirement benefits | (475 | ) |  | (165 | ) |  | (310 | )
Derivative instruments designated and qualifying as cash flow hedges: |  |  |  |  |
Net loss arising during the year | (1 | ) |  | — |  |  | (1 | )
Net loss reclassified into income | 2 |  |  | 1 |  |  | 1 |
Net gain on cash flow hedges | 1 |  |  | 1 |  |  | — |
Other comprehensive loss | $ | (881 | ) |  | $ | (164 | ) |  | $ | (717 | )
Year Ended December 31, 2013: |  |  |  |  |
Foreign currency translation adjustment | $ | (98 | ) |  | $ | — |  |  | $ | (98 | )
Pension and other postretirement benefits: |  |  |  |  |
Gain arising during the year related to: |  |  |  |  |
Net actuarial gain | 367 |  |  | 125 |  |  | 242 |
Plan amendments | 371 |  |  | 130 |  |  | 241 |
Amounts reclassified into income related to: |  |  |  |  |
Net actuarial loss | 57 |  |  | 20 |  |  | 37 |
Prior service credit | (33 | ) |  | (12 | ) |  | (21 | )
Settlement | 1 |  |  | — |  |  | 1 |
Net gain on pension and other postretirement benefits | 763 |  |  | 263 |  |  | 500 |
Derivative instruments designated and qualifying as cash flow hedges: |  |  |  |  |
Net loss arising during the year | (4 | ) |  | (2 | ) |  | (2 | )
Net loss reclassified into income | 2 |  |  | 1 |  |  | 1 |
Net loss on cash flow hedges | (2 | ) |  | (1 | ) |  | (1 | )
Other comprehensive income | $ | 663 |  |  | $ | 262 |  |  | $ | 401 |
Accumulated Other Comprehensive Income (Loss) Changes in accumulated other comprehensive income (loss) by component, net of tax, were as follows (in millions):
| Foreign Currency Translation Adjustment |  | Defined Benefit Plan Items |  | Gains and (Losses) on Cash Flow Hedges |  | Total
Balance as of December 31, 2012 | $ | 665 |  |  | $ | (558 | ) |  | $ | 1 |  |  | $ | 108 |
Other comprehensive income (loss) before reclassifications | (98 | ) |  | 483 |  |  | (2 | ) |  | 383 |
Amounts reclassified from accumulated other comprehensive income (loss) | — |  |  | 17 |  |  | 1 |  |  | 18 |
Net other comprehensive income (loss) | (98 | ) |  | 500 |  |  | (1 | ) |  | 401 |
Separation of retail business | (159 | ) |  | — |  |  | — |  |  | (159 | )
Balance as of December 31, 2013 | 408 |  |  | (58 | ) |  | — |  |  | 350 |
Other comprehensive loss before reclassifications | (407 | ) |  | (309 | ) |  | (1 | ) |  | (717 | )
Amounts reclassified from accumulated other comprehensive income (loss) | — |  |  | (1 | ) |  | 1 |  |  | — |
Net other comprehensive loss | (407 | ) |  | (310 | ) |  | — |  |  | (717 | )
Balance as of December 31, 2014 | 1 |  |  | (368 | ) |  | — |  |  | (367 | )
Other comprehensive income (loss) before reclassifications | (606 | ) |  | 21 |  |  | — |  |  | (585 | )
Amounts reclassified from accumulated other comprehensive income (loss) | — |  |  | 19 |  |  | — |  |  | 19 |
Net other comprehensive income (loss) | (606 | ) |  | 40 |  |  | — |  |  | (566 | )
Balance as of December 31, 2015 | $ | (605 | ) |  | $ | (328 | ) |  | $ | — |  |  | $ | (933 | )
Gains (losses) reclassified out of accumulated other comprehensive income (loss) and into net income were as follows (in millions):
Details about Accumulated Other Comprehensive Income (Loss) Components |  |  |  | Affected Line Item in the Statement of Income
| Year Ended December 31, |
| 2015 |  | 2014 |  | 2013 |
Amortization of items related to defined benefit pension plans: |  |  |  |  |  |  |  |
Net actuarial loss |  | $ | (62 | ) |  | $ | (34 | ) |  | $ | (57 | ) |  | (a)
Prior service credit |  | 40 |  |  | 40 |  |  | 33 |  |  | (a)
Curtailment and settlement |  | (7 | ) |  | (3 | ) |  | (1 | ) |  | (a)
|  | (29 | ) |  | 3 |  |  | (25 | ) |  | Total before tax
|  | 10 |  |  | (2 | ) |  | 8 |  |  | Tax (expense) benefit
|  | $ | (19 | ) |  | $ | 1 |  |  | $ | (17 | ) |  | Net of tax
Losses on cash flow hedges: |  |  |  |  |  |  |  |
Commodity contracts |  | $ | — |  |  | $ | (2 | ) |  | $ | (2 | ) |  | Cost of sales
|  | — |  |  | (2 | ) |  | (2 | ) |  | Total before tax
|  | — |  |  | 1 |  |  | 1 |  |  | Tax benefit
|  | $ | — |  |  | $ | (1 | ) |  | $ | (1 | ) |  | Net of tax
Total reclassifications for the year |  | $ | (19 | ) |  | $ | — |  |  | $ | (18 | ) |  | Net of tax
_________________________
(a) | These accumulated other comprehensive income (loss) components are included in the computation of net periodic benefit cost, as further discussed in Note 13. Net periodic benefit cost is reflected in operating expenses and general and administrative expenses.

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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 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(d),(e)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 4.E) -URI http://asc.fasb.org/extlink&oid=27010918&loc=d3e74512-122707 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.29-31) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 4 -Subparagraph (SAB TOPIC 4.C) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187143-122770 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Preferred Stock -URI http://asc.fasb.org/extlink&oid=6521494 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 4 -Section E Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 4 -Section C + Details
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