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STOCKHOLDERS' EQUITY | 3 Months Ended
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Mar. 31, 2017
Stockholders' Equity Note [Abstract] |
STOCKHOLDERS' EQUITY | STOCKHOLDERS' EQUITY A reconciliation of the changes in stockholders' equity for first three months 2017 is provided below:
(Dollars in millions) | Common Stock at Par Value |  | Paid-in Capital |  | Retained Earnings |  | Accumulated Other Comprehensive Income (Loss) |  | Treasury Stock at Cost |  | Total Stockholders' Equity Attributed to Eastman |  | Noncontrolling Interest |  | Total Stockholders' Equity
Balance at December 31, 2016 | $ | 2 |  |  | $ | 1,915 |  |  | $ | 5,721 |  |  | $ | (281 | ) |  | $ | (2,825 | ) |  | $ | 4,532 |  |  | $ | 76 |  |  | $ | 4,608 |
Net Earnings | — |  |  | — |  |  | 278 |  |  | — |  |  | — |  |  | 278 |  |  | 1 |  |  | 279 |
Cash Dividends Declared (1) ($0.51 per share) | — |  |  | — |  |  | (74 | ) |  | — |  |  | — |  |  | (74 | ) |  | — |  |  | (74 | )
Other Comprehensive Income | — |  |  | — |  |  | — |  |  | (25 | ) |  | — |  |  | (25 | ) |  | — |  |  | (25 | )
Share-Based Compensation Expense (2) | — |  |  | 14 |  |  | — |  |  | — |  |  | — |  |  | 14 |  |  | — |  |  | 14 |
Stock Option Exercises | — |  |  | 6 |  |  | — |  |  | — |  |  | — |  |  | 6 |  |  | — |  |  | 6 |
Other | — |  |  | (5 | ) |  | — |  |  | — |  |  | — |  |  | (5 | ) |  | (1 | ) |  | (6 | )
Share Repurchases | — |  |  | — |  |  | — |  |  | — |  |  | (75 | ) |  | (75 | ) |  | — |  |  | (75 | )
Balance at March 31, 2017 | $ | 2 |  |  | $ | 1,930 |  |  | $ | 5,925 |  |  | $ | (306 | ) |  | $ | (2,900 | ) |  | $ | 4,651 |  |  | $ | 76 |  |  | $ | 4,727 |
(1) | Cash dividends declared includes cash dividends paid and dividends declared, but unpaid.
(2) | Share-based compensation expense is the fair value of share-based awards.
Accumulated Other Comprehensive Income (Loss), Net of Tax
(Dollars in millions) | Cumulative Translation Adjustment |  | Benefit Plans Unrecognized Prior Service Credits |  | Unrealized Gains (Losses) on Derivative Instruments |  | Unrealized Losses on Investments |  | Accumulated Other Comprehensive Income (Loss)
Balance at December 31, 2015 | $ | (284 | ) |  | $ | 129 |  |  | $ | (234 | ) |  | $ | (1 | ) |  | $ | (390 | )
Period change | (97 | ) |  | 34 |  |  | 172 |  |  | — |  |  | 109 |
Balance at December 31, 2016 | (381 | ) |  | 163 |  |  | (62 | ) |  | (1 | ) |  | (281 | )
Period change | 7 |  |  | (7 | ) |  | (25 | ) |  | — |  |  | (25 | )
Balance at March 31, 2017 | $ | (374 | ) |  | $ | 156 |  |  | $ | (87 | ) |  | $ | (1 | ) |  | $ | (306 | )
Amounts of other comprehensive income (loss) are presented net of applicable taxes. The Company recognizes deferred income taxes on the cumulative translation adjustment related to branch operations and income from other entities included in the Company's consolidated U.S. tax return. No deferred income taxes are provided on the cumulative translation adjustment of other subsidiaries outside the United States, as such cumulative translation adjustment is considered to be a component of indefinitely invested, unremitted earnings of these foreign subsidiaries. Components of other comprehensive income recognized in the Unaudited Consolidated Statements of Earnings, Comprehensive Income and Retained Earnings are presented below, before tax and net of tax effects:
| First Quarter
| 2017 |  | 2016
(Dollars in millions) | Before Tax |  | Net of Tax |  | Before Tax |  | Net of Tax
Other comprehensive income (loss) |  |  |  |  |  |  |
Change in cumulative translation adjustment | $ | 7 |  |  | $ | 7 |  |  | $ | 106 |  |  | $ | 106 |
Defined benefit pension and other postretirement benefit plans: |  |  |  |  |  |  |  |
Amortization of unrecognized prior service credits included in net periodic costs (1) | (11 | ) |  | (7 | ) |  | (11 | ) |  | (7 | )
Derivatives and hedging: (2) |  |  |  |  |  |  |  |
Unrealized loss during period | (34 | ) |  | (21 | ) |  | (30 | ) |  | (18 | )
Reclassification adjustment for (gains) losses included in net income, net | (6 | ) |  | (4 | ) |  | 7 |  |  | 4 |
Total other comprehensive income (loss) | $ | (44 | ) |  | $ | (25 | ) |  | $ | 72 |  |  | $ | 85 |
(1) | Included in the calculation of net periodic benefit costs for pension and other postretirement benefit plans. See Note 7, "Retirement Plans".
(2) | For additional information regarding the impact of reclassifications into earnings, see Note 6, "Derivative and Non-Derivative Financial Instruments".

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