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Shareholders' Equity (Tables) | 9 Months Ended
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Sep. 30, 2021
Stockholders' Equity Note [Abstract] |
Summary of shareholders' equity activity | The following tables summarize our shareholders’ equity activity for the three and nine months ended September 30, 2021 and September 30, 2020, respectively:
Millions of dollars | Common Stock | Paid-in Capital in Excess of Par Value | Treasury Stock | Retained Earnings | Accumulated Other Comprehensive Income (Loss) | Noncontrolling Interest in Consolidated Subsidiaries | Total
Balance at December 31, 2020 | $ | 2,666 |  | $ | — |  | $ | (6,021) |  | $ | 8,691 |  | $ | (362) |  | $ | 9 |  | $ | 4,983 |
Comprehensive income (loss): |  |  |  |  |  |  |
Net income | — |  | — |  | — |  | 170 |  | — |  | 1 |  | 171 |
Cash dividends ($0.045 per share) | — |  | — |  | — |  | (40) |  | — |  | — |  | (40) |
Stock plans (a) | — |  | 34 |  | 144 |  | (112) |  | — |  | — |  | 66 |
Other | — |  | — |  | — |  | — |  | — |  | (1) |  | (1) |
Balance at March 31, 2021 | $ | 2,666 |  | $ | 34 |  | $ | (5,877) |  | $ | 8,709 |  | $ | (362) |  | $ | 9 |  | $ | 5,179 |
Comprehensive income (loss): |  |  |  |  |  |  |
Net income | — |  | — |  | — |  | 227 |  | — |  | 3 |  | 230 |
Other comprehensive income | — |  | — |  | — |  | — |  | 2 |  | — |  | 2 |
Cash dividends ($0.045 per share) | — |  | — |  | — |  | (40) |  | — |  | — |  | (40) |
Stock plans | — |  | (8) |  | 69 |  | — |  | — |  | — |  | 61 |
Other | — |  | — |  | — |  | — |  | — |  | (3) |  | (3) |
Balance at June 30, 2021 | $ | 2,666 |  | $ | 26 |  | $ | (5,808) |  | $ | 8,896 |  | $ | (360) |  | $ | 9 |  | $ | 5,429 |
Comprehensive income (loss): |  |  |  |  |  |  |
Net income | — |  | — |  | — |  | 236 |  | — |  | 4 |  | 240 |
Cash dividends ($0.045 per share) | — |  | — |  | — |  | (41) |  | — |  | — |  | (41) |
Stock plans (a) | — |  | (2) |  | 232 |  | (164) |  | — |  | — |  | 66 |
Other | — |  | — |  | — |  | — |  | — |  | (1) |  | (1) |
Balance at September 30, 2021 | $ | 2,666 |  | $ | 24 |  | $ | (5,576) |  | $ | 8,927 |  | $ | (360) |  | $ | 12 |  | $ | 5,693 |
(a) | In January and July of 2021, we issued common stock from treasury shares for the employee stock purchase plan and for restricted stock grants. As a result, additional paid in capital in January and July of 2021 were reduced below zero, which resulted in a reduction of retained earnings by $112 million and $164 million, respectively. Additional issuances from treasury shares could similarly impact additional paid in capital and retained earnings.
Millions of dollars | Common Stock | Paid-in Capital in Excess of Par Value | Treasury Stock | Retained Earnings | Accumulated Other Comprehensive Income (Loss) | Noncontrolling Interest in Consolidated Subsidiaries | Total
Balance at December 31, 2019 | $ | 2,669 |  | $ | 143 |  | $ | (6,427) |  | $ | 11,989 |  | $ | (362) |  | $ | 13 |  | $ | 8,025 |
Comprehensive income (loss): |  |  |  |  |  |  |
Net income (loss) | — |  | — |  | — |  | (1,017) |  | — |  | 2 |  | (1,015) |
Other comprehensive income | — |  | — |  | — |  | — |  | 11 |  | — |  | 11 |
Cash dividends ($0.18 per share) | — |  | — |  | — |  | (158) |  | — |  | — |  | (158) |
Stock repurchase program | — |  | — |  | (100) |  | — |  | — |  | — |  | (100) |
Stock plans | — |  | (33) |  | 115 |  | — |  | — |  | — |  | 82 |
Other | — |  | — |  | — |  | — |  | — |  | (2) |  | (2) |
Balance at March 31, 2020 | $ | 2,669 |  | $ | 110 |  | $ | (6,412) |  | $ | 10,814 |  | $ | (351) |  | $ | 13 |  | $ | 6,843 |
Comprehensive income (loss): |  |  |  |  |  |  |
Net loss | — |  | — |  | — |  | (1,676) |  | — |  | (5) |  | (1,681) |
Other comprehensive income | — |  | — |  | — |  | — |  | 9 |  | — |  | 9 |
Cash dividends ($0.045 per share) | — |  | — |  | — |  | (40) |  | — |  | — |  | (40) |
Stock plans | (3) |  | 15 |  | 54 |  | — |  | — |  | — |  | 66 |
Other | — |  | — |  | — |  | — |  | — |  | (1) |  | (1) |
Balance at June 30, 2020 | $ | 2,666 |  | $ | 125 |  | $ | (6,358) |  | $ | 9,098 |  | $ | (342) |  | $ | 7 |  | $ | 5,196 |
Comprehensive income (loss): |  |  |  |  |  |  |
Net loss | — |  | — |  | — |  | (17) |  | — |  | (2) |  | (19) |
Other comprehensive income | — |  | — |  | — |  | — |  | 2 |  | — |  | 2 |
Cash dividends ($0.045 per share) | — |  | — |  | — |  | (40) |  | — |  | — |  | (40) |
Stock plans (a) | — |  | (102) |  | 222 |  | (54) |  | — |  | — |  | 66 |
Other | — |  | — |  | — |  | — |  | — |  | (2) |  | (2) |
Balance at September 30, 2020 | $ | 2,666 |  | $ | 23 |  | $ | (6,136) |  | $ | 8,987 |  | $ | (340) |  | $ | 3 |  | $ | 5,203 |
(a) | In July of 2020, we issued common stock from treasury shares for the employee stock purchase plan and for restricted stock grants. As a result, additional paid in capital in July of 2020 was reduced below zero, which resulted in a reduction of retained earnings by $54 million. Additional issuances from treasury shares could similarly impact additional paid in capital and retained earnings.
Schedule of comprehensive income (loss) | Accumulated other comprehensive loss consisted of the following:
Millions of dollars | September 30, 2021 | December 31, 2020
Defined benefit and other postretirement liability adjustments | $ | (224) |  | $ | (226) |
Cumulative translation adjustments | (85) |  | (83) |
Other | (51) |  | (53) |
Total accumulated other comprehensive loss | $ | (360) |  | $ | (362) |

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- Definition Tabular disclosure of changes in the separate accounts comprising stockholders' equity (in addition to retained earnings) and of the changes in the number of shares of equity securities during at least the most recent annual fiscal period and any subsequent interim period presented is required to make the financial statements sufficiently informative if both financial position and results of operations are presented. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21463-112644 + Details
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