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Shareholders' Equity
 12 Months Ended
Dec. 31, 2019
Stockholders' Equity Note [Abstract]  
Shareholders' Equity Shareholders’ Deficit

Under the authority of our Board of Directors, we repurchased shares of our Common Stock during 2019, 2018 and 2017.  All amounts exclude applicable transaction fees.  
 
 
 
Shares Repurchased
(thousands)
 
 
Dollar Value of Shares
Repurchased
 
Authorization Date
 
2019

 
 
2018

 
 
2017

 
 
2019

 
 
2018

 
 
2017

 
August 2018
 
7,788

 
 
10,003

 
 
—

 
 
810

 
 
894

 
 
—

 
November 2017
 
—

 
 
18,240

 
 
—

 
 
—

 
 
1,500

 
 
—

 
November 2016
 
—

 
 
—

 
 
26,561

 
 
—

 
 
—

 
 
1,915

 
Total
 
7,788

(a) 
 
28,243

(a) 
 
26,561

(b) 
 
$
810

(a) 
 
$
2,394

(a) 
 
$
1,915

(b) 

(a)
2019 amount excludes and 2018 amount includes the effect of $5 million in share repurchases (0.1 million shares) with trade dates on, or prior to, December 31, 2018 but settlement dates subsequent to December 31, 2018.

(b)
2017 amount excludes the effect of $45 million in share repurchases (0.7 million shares) with trade dates prior to December 31, 2016 but settlement dates subsequent to December 31, 2016.

On November 21, 2019, our Board of Directors authorized share repurchases through June 2021 of up to $2 billion (excluding applicable transaction fees) of our outstanding Common Stock. As of December 31, 2019, we have remaining capacity to repurchase up to $2 billion of Common Stock under this authorization. Unutilized share repurchase capacity of $296 million under the August 2018 authorization expired on December 31, 2019.

Changes in AOCI are presented below.
 
 
Translation Adjustments and Gains (Losses) From Intra-Entity Transactions of a Long-Term Nature(a)
 
Pension and Post-Retirement Benefits(b)
 
Derivative Instruments(c)
 
Total
Balance at December 31, 2017, net of tax
 
$
(174
)
 
$
(106
)
 
$
9

 
$
(271
)
 
 
 
 
 
 
 
 
 
Adoption of accounting standards
 
21

(d) 
(17
)
(e) 
(2
)
(e) 
2

 
 
 
 
 
 
 
 
 
OCI, net of tax
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Gains (losses) arising during the year classified into AOCI, net of tax
 
(88
)
 
24

 
20

 
(44
)
 
 
 
 
 
 
 
 
 
(Gains) losses reclassified from AOCI, net of tax
 
(4
)
 
17

 
(34
)
 
(21
)
 
 
 
 
 
 
 
 
 
 
 
(92
)
 
41

 
(14
)
 
(65
)
 
 
 
 
 
 
 
 
 
Balance at December 31, 2018, net of tax
 
$
(245
)
 
$
(82
)
 
$
(7
)
 
$
(334
)
 
 
 
 
 
 
 
 
 
OCI, net of tax
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Gains (losses) arising during the year classified into AOCI, net of tax
 
24

 
(30
)
 
(35
)
 
(41
)
 
 
 
 
 
 
 
 
 
(Gains) losses reclassified from AOCI, net of tax
 
—

 
8

 
(21
)
 
(13
)
 
 
 
 
 
 
 
 
 
 
 
24

 
(22
)
 
(56
)
 
(54
)
 
 
 
 
 
 
 
 
 
Balance at December 31, 2019, net of tax
 
$
(221
)
 
$
(104
)
 
$
(63
)
 
$
(388
)
 
 
 
 
 
 
 
 
 

(a)
Amounts reclassified from AOCI are due to substantially complete liquidations of foreign entities related to the KFC and Pizza Hut Brazil refranchising transactions during 2018.

(b)
Amounts reclassified from AOCI for pension and post-retirement benefit plans losses during 2019 include amortization of net losses of $2 million, amortization of prior service cost of $5 million, settlement charges of $3 million and related income tax benefit of $2 million. Amounts reclassified from AOCI for pension and post-retirement benefit plan losses during 2018 include amortization of net losses of $17 million, amortization of prior service cost of $5 million and related income tax benefit of $5 million. See Note 14.

(c)
See Note 12 for details on amounts reclassified from AOCI.

(d)
Represents the impact of foreign currency translation from the adoption of Topic 606. See Notes 2 and 4.

(e)
During the quarter ended March 31, 2018, we adopted a standard that allowed for the reclassification from AOCI to Accumulated deficit for stranded tax effects resulting from the Tax Act.