XML 50 R38.htm IDEA: XBRL DOCUMENT v3.5.0.2
Shareholders' Equity (Tables)
9 Months Ended
Sep. 30, 2016
Stockholders' Equity Note [Abstract]  
Shareholders' Equity Activities
The following tables summarize our activity in shareholders’ equity:
Dollars in millions
Total
 
PIC
 
Retained
Earnings
 
Treasury
Stock
 
AOCL
 
NCI
Balance at December 31, 2015
$
1,052

 
$
2,070

 
$
595

 
$
(769
)
 
$
(831
)
 
$
(13
)
Share-based compensation
14

 
14

 

 

 

 

Tax benefit increase related to share-based plans

 

 

 

 

 

Dividends declared to shareholders
(34
)
 

 
(34
)
 

 

 

Repurchases of common stock
(2
)
 

 

 
(2
)
 

 

Issuance of ESPP shares
3

 
(1
)
 

 
4

 

 

Distributions to noncontrolling interests
(9
)
 

 

 

 

 
(9
)
Net income
35

 

 
26

 

 

 
9

Other comprehensive income (loss), net of tax
38

 

 

 

 
39

 
(1
)
Balance at September 30, 2016
$
1,097

 
$
2,083

 
$
587

 
$
(767
)
 
$
(792
)
 
$
(14
)
 
 
 
 
 
 
 
 
 
 
 
 
Dollars in millions
Total
 
PIC
 
Retained
Earnings
 
Treasury
Stock
 
AOCL
 
NCI
Balance at December 31, 2014
$
935

 
$
2,091

 
$
439

 
$
(712
)
 
$
(876
)
 
$
(7
)
Acquisition of noncontrolling interest
(40
)
 
(40
)
 

 

 

 

Share-based compensation
14

 
14

 

 

 

 

Common stock issued upon exercise of stock options
1

 
1

 

 

 

 

Dividends declared to shareholders
(35
)
 

 
(35
)
 

 

 

Repurchases of common stock
(22
)
 

 

 
(22
)
 

 

Issuance of ESPP shares
5

 

 

 
5

 

 

Distributions to noncontrolling interests
(21
)
 

 

 

 

 
(21
)
Net income
178

 

 
161

 

 

 
17

Other comprehensive income (loss), net of tax
(41
)
 

 

 

 
(44
)
 
3

Balance at September 30, 2015
$
974

 
$
2,066

 
$
565

 
$
(729
)
 
$
(920
)
 
$
(8
)


Accumulated Other Comprehensive Income (Loss)
Accumulated other comprehensive loss, net of tax
 
September 30,
Dollars in millions
2016
 
2015
Accumulated foreign currency translation adjustments, net of tax of $3 and $(1)
$
(247
)
 
$
(280
)
Pension and post-retirement benefits, net of tax of $204 and $226
(542
)
 
(638
)
Fair value of derivatives, net of tax of $0 and $0
(3
)
 
(2
)
Total accumulated other comprehensive loss
$
(792
)
 
$
(920
)
Changes in accumulated other comprehensive loss, net of tax, by component
Dollars in millions
Accumulated foreign currency translation adjustments
 
Accumulated pension liability adjustments
 
Changes in fair value of derivatives
 
Total
Balance at December 31, 2015
$
(269
)
 
$
(560
)
 
$
(2
)
 
$
(831
)
Other comprehensive income adjustments before reclassifications
22

 

 

 
22

Amounts reclassified from accumulated other comprehensive income

 
18

 
(1
)
 
17

Balance at September 30, 2016
$
(247
)
 
$
(542
)
 
$
(3
)
 
$
(792
)


Dollars in millions
Accumulated foreign currency translation adjustments
 
Accumulated pension liability adjustments
 
Changes in fair value of derivatives
 
Total
Balance at December 31, 2014
$
(203
)
 
$
(670
)
 
$
(3
)
 
$
(876
)
Other comprehensive income adjustments before reclassifications
(77
)
 

 

 
(77
)
Amounts reclassified from accumulated other comprehensive income

 
32

 
1

 
33

Balance at September 30, 2015
$
(280
)
 
$
(638
)
 
$
(2
)
 
$
(920
)
Accumulated Other Comprehensive Income (Loss)
Accumulated other comprehensive loss, net of tax
 
September 30,
Dollars in millions
2016
 
2015
Accumulated foreign currency translation adjustments, net of tax of $3 and $(1)
$
(247
)
 
$
(280
)
Pension and post-retirement benefits, net of tax of $204 and $226
(542
)
 
(638
)
Fair value of derivatives, net of tax of $0 and $0
(3
)
 
(2
)
Total accumulated other comprehensive loss
$
(792
)
 
$
(920
)
Changes in accumulated other comprehensive loss, net of tax, by component
Dollars in millions
Accumulated foreign currency translation adjustments
 
Accumulated pension liability adjustments
 
Changes in fair value of derivatives
 
Total
Balance at December 31, 2015
$
(269
)
 
$
(560
)
 
$
(2
)
 
$
(831
)
Other comprehensive income adjustments before reclassifications
22

 

 

 
22

Amounts reclassified from accumulated other comprehensive income

 
18

 
(1
)
 
17

Balance at September 30, 2016
$
(247
)
 
$
(542
)
 
$
(3
)
 
$
(792
)


Dollars in millions
Accumulated foreign currency translation adjustments
 
Accumulated pension liability adjustments
 
Changes in fair value of derivatives
 
Total
Balance at December 31, 2014
$
(203
)
 
$
(670
)
 
$
(3
)
 
$
(876
)
Other comprehensive income adjustments before reclassifications
(77
)
 

 

 
(77
)
Amounts reclassified from accumulated other comprehensive income

 
32

 
1

 
33

Balance at September 30, 2015
$
(280
)
 
$
(638
)
 
$
(2
)
 
$
(920
)
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]
Reclassifications out of accumulated other comprehensive loss, net of tax, by component
 
Nine Months Ended September 30,
 
 
Dollars in millions
2016
 
2015
 
Affected line item on the Condensed Consolidated Statements of Operations
Accumulated pension liability adjustments
 
 
 
 
 
    Amortization of actuarial loss (a)
$
(22
)
 
$
(39
)
 
See (a) below
Tax benefit
4

 
7

 
Provision for income taxes
Net pension and post-retirement benefits
$
(18
)
 
$
(32
)
 
Net of tax
 
(a)
This item is included in the computation of net periodic pension cost. See Note 10 to our condensed consolidated financial statements for further discussion.