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Stockholders' Equity and Accumulated Other Comprehensive Loss | 12 Months Ended
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Dec. 31, 2021
Stockholders' Equity and Accumulated Other Comprehensive Loss |
Stockholders' Equity and Accumulated Other Comprehensive Loss | Note 11 − Stockholders’ Equity and Accumulated Other Comprehensive Loss Seaboard’s share repurchase program expired on October 31, 2020. Under this share repurchase program, Seaboard was authorized to repurchase its common stock from time to time in open market or privately negotiated purchases, which may have been above or below the traded market price. Seaboard repurchased 4,069 and 4,369 shares of common stock during 2020 and 2019, respectively, at a total price of $13 million and $17 million, respectively. Shares repurchased were retired and became authorized and unissued shares. The components of accumulated other comprehensive loss, net of related taxes, were as follows:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Cumulative |  | ​ | ​ |  | ​ | ​ | ​
​ | ​ | Foreign | ​ | Cumulative | ​ | ​ | ​ | ​
​ | ​ | Currency | ​ | Unrecognized | ​ | ​ | ​ | ​
​ | ​ | Translation | ​ | Pension | ​ | ​ | ​ | ​
(Millions of dollars) | ​ | Adjustment | ​ | Cost | ​ | Total | ​
Balance December 31, 2019 | ​ | $ | (369) | ​ | $ | (71) | ​ | $ | (440) | ​
Other comprehensive loss before reclassifications | ​ |  | (7) | ​ |  | (38) | ​ |  | (45) | ​
Amounts reclassified from accumulated other comprehensive loss to net earnings | ​ |  | — | ​ |  | 14 | (a) |  | 14 | ​
Other comprehensive loss, net of tax | ​ |  | (7) | ​ |  | (24) | ​ |  | (31) | ​
Balance December 31, 2020 | ​ | $ | (376) | ​ | $ | (95) | ​ | $ | (471) | ​
Other comprehensive income before reclassifications | ​ |  | 8 | ​ |  | 18 | ​ |  | 26 | ​
Amounts reclassified from accumulated other comprehensive loss to net earnings | ​ |  | — | ​ |  | 13 | (a) |  | 13 | ​
Other comprehensive income, net of tax | ​ |  | 8 | ​ |  | 31 | ​ |  | 39 | ​
Balance December 31, 2021 | ​ | $ | (368) | ​ | $ | (64) | ​ | $ | (432) | ​
(a)This primarily represents the amortization of actuarial losses (gains) that were included in net periodic pension cost. See Note 9 for further discussion. ​ ​ The cumulative foreign currency translation adjustment primarily represents the effect of the Argentine peso currency exchange fluctuation on the net assets of the Sugar and Alcohol segment. Since the third quarter of 2018, the Sugar and Alcohol segment’s functional currency has been the U.S. dollar due to highly inflationary accounting. The adjustments for 2021 and 2020 are related to non-USD functional currencies of consolidated and non-consolidated affiliates, primarily in Seaboard’s CT&M segment. The cumulative unrecognized pension cost represents the unamortized net actuarial loss. Income taxes for the cumulative unrecognized pension cost component was recorded using a 25%effective tax rate for 2021 and 2020 and 26% effective tax rate for 2019, except for unrecognized pension cost of $24 million, $34 million and $21 million in 2021, 2020 and 2019, respectively, related to employees at certain subsidiaries for which no tax benefit was recorded.

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