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Shareholders' Equity | 9 Months Ended
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Sep. 30, 2021
Stockholders' Equity Note [Abstract] |
Stockholders' Equity | Shareholders’ Equity 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.
Our Board of Directors has authorized a program to repurchase our common stock from time to time. There were no repurchases made under the program during the three and nine months ended September 30, 2021. Approximately $5.1 billion remained authorized for repurchases as of September 30, 2021. From the inception of this program in February of 2006 through September 30, 2021, we repurchased approximately 224 million shares of our common stock for a total cost of approximately $9.0 billion. 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 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/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -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=120397183&loc=d3e187085-122770 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (g) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (h) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 14 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 18 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 16 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496180-112644 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (i) -URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644 Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(e)(1)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 + Details
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