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Restatement of Consolidated Financial Statements (Tables) | 12 Months Ended
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Dec. 31, 2015
Restatement of Consolidated Financial Statements |
Schedule of corrections of the misstatement on the Company's consolidated results of operations, consolidated comprehensive income, consolidated balance | CONSOLIDATED RESULTS OF OPERATIONS Dollars in millions, except per share amounts
Years ended December 31, |  | 2015 |  | 2014 |  | 2013 |
|  | As Reported |  | Adjustments |  | As Restated |  | As Reported |  | Adjustments |  | As Restated |  | As Reported |  | Adjustments |  | As Restated |
Other expense, net |  | $ | (320) |  | $ | 209 |  | $ | (111) |  | $ | (283) |  | $ | 89 |  | $ | (194) |  | $ | (266) |  | $ | 133 |  | $ | (133) |
Earnings from continuing operations before income taxes |  |  | 59 |  |  | 209 |  |  | 268 |  |  | 218 |  |  | 89 |  |  | 307 |  |  | 335 |  |  | 133 |  |  | 468 |
Provision for income taxes |  |  | (106) |  |  |  |  |  | (106) |  |  | (92) |  |  |  |  |  | (92) |  |  | (120) |  |  |  |  |  | (120) |
Earnings (loss) from continuing operations |  |  | (47) |  |  | 209 |  |  | 162 |  |  | 126 |  |  | 89 |  |  | 215 |  |  | 215 |  |  | 133 |  |  | 348 |
Loss from discontinued operations |  |  | (4) |  |  |  |  |  | (4) |  |  | (23) |  |  |  |  |  | (23) |  |  | (18) |  |  |  |  |  | (18) |
Net earnings (loss) |  |  | (51) |  |  | 209 |  |  | 158 |  |  | 103 |  |  | 89 |  |  | 192 |  |  | 197 |  |  | 133 |  |  | 330 |
Net earnings attributable to noncontrolling interests |  |  | (23) |  |  |  |  |  | (23) |  |  | (28) |  |  |  |  |  | (28) |  |  | (13) |  |  |  |  |  | (13) |
Net earnings (loss) attributable to the Company |  | $ | (74) |  | $ | 209 |  | $ | 135 |  | $ | 75 |  | $ | 89 |  | $ | 164 |  | $ | 184 |  | $ | 133 |  | $ | 317 |
Amounts attributable to the Company: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Earnings (loss) from continuing operations |  | $ | (70) |  | $ | 209 |  | $ | 139 |  | $ | 98 |  | $ | 89 |  | $ | 187 |  | $ | 202 |  | $ | 133 |  | $ | 335 |
Loss from discontinued operations |  |  | (4) |  |  |  |  |  | (4) |  |  | (23) |  |  |  |  |  | (23) |  |  | (18) |  |  |  |  |  | (18) |
Net earnings (loss) |  | $ | (74) |  | $ | 209 |  | $ | 135 |  | $ | 75 |  | $ | 89 |  | $ | 164 |  | $ | 184 |  | $ | 133 |  | $ | 317 |
Basic earnings per share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Earnings (loss) from continuing operations |  | $ | (0.44) |  | $ | 1.30 |  | $ | 0.86 |  | $ | 0.60 |  | $ | 0.54 |  | $ | 1.14 |  | $ | 1.22 |  | $ | 0.81 |  | $ | 2.03 |
Loss from discontinued operations |  |  | (0.03) |  |  |  |  |  | (0.03) |  |  | (0.14) |  |  |  |  |  | (0.14) |  |  | (0.11) |  |  |  |  |  | (0.11) |
Net earnings (loss) |  | $ | (0.47) |  | $ | 1.30 |  | $ | 0.83 |  | $ | 0.46 |  | $ | 0.54 |  | $ | 1.00 |  | $ | 1.11 |  | $ | 0.81 |  | $ | 1.92 |
Diluted earnings per share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Earnings (loss) from continuing operations |  | $ | (0.44) |  | $ | 1.29 |  | $ | 0.85 |  | $ | 0.59 |  | $ | 0.54 |  | $ | 1.13 |  | $ | 1.22 |  | $ | 0.80 |  | $ | 2.02 |
Loss from discontinued operations |  |  | (0.03) |  |  |  |  |  | (0.03) |  |  | (0.14) |  |  |  |  |  | (0.14) |  |  | (0.11) |  |  |  |  |  | (0.11) |
Net earnings (loss) |  | $ | (0.47) |  | $ | 1.29 |  | $ | 0.82 |  | $ | 0.45 |  | $ | 0.54 |  | $ | 0.99 |  | $ | 1.11 |  | $ | 0.80 |  | $ | 1.91 |
| 1. |  | Restatement of Consolidated Financial Statements (Continued)
CONSOLIDATED COMPREHENSIVE INCOME Dollars in millions
Years ended December 31, |  | 2015 |  | 2014 |  | 2013 |
|  | As Reported |  | Adjustments |  | As Restated |  | As Reported |  | Adjustments |  | As Restated |  | As Reported |  | Adjustments |  | As Restated |
Net earnings (loss) |  | $ | (51) |  | $ | 209 |  | $ | 158 |  | $ | 103 |  | $ | 89 |  | $ | 192 |  | $ | 197 |  | $ | 133 |  | $ | 330 |
Total comprehensive income (loss) |  |  | (590) |  |  | 209 |  |  | (381) |  |  | (291) |  |  | 89 |  |  | (202) |  |  | 576 |  |  | 133 |  |  | 709 |
Comprehensive income (loss) attributable to the Company |  | $ | (597) |  | $ | 209 |  | $ | (388) |  | $ | (298) |  | $ | 89 |  | $ | (209) |  | $ | 569 |  | $ | 133 |  | $ | 702 |
CONSOLIDATED BALANCE SHEETS Dollars in millions
|  | Dec. 31, 2015 |  | Dec. 31, 2014 |
|  | As Reported |  | Adjustments |  | As Restated |  | As Reported |  | Adjustments |  | As Restated |
Asbestos-related liabilities |  | $ | 392 |  | $ | 295 |  | $ | 687 |  | $ | 292 |  | $ | 504 |  | $ | 796 |
Retained loss |  | $ | (10) |  | $ | (295) |  | $ | (305) |  | $ | 64 |  | $ | (504) |  | $ | (440) |
Total share owners' equity of the Company |  | $ | 466 |  | $ | (295) |  | $ | 171 |  | $ | 1,158 |  | $ | (504) |  | $ | 654 |
Total share owners' equity |  | $ | 574 |  | $ | (295) |  | $ | 279 |  | $ | 1,275 |  | $ | (504) |  | $ | 771 |
CONSOLIDATED CASH FLOWS Dollars in millions
Years ended December 31, |  | 2015 |  | 2014 |  | 2013 |
|  | As Reported |  | Adjustments |  | As Restated |  | As Reported |  | Adjustments |  | As Restated |  | As Reported |  | Adjustments |  | As Restated |
Net Earnings (loss) |  | $ | (51) |  | $ | 209 |  | $ | 158 |  | $ | 103 |  | $ | 89 |  | $ | 192 |  | $ | 197 |  | $ | 133 |  | $ | 330 |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Charge for asbestos-related costs |  | $ | 225 |  | $ | (209) |  | $ | 16 |  | $ | 135 |  | $ | (89) |  | $ | 46 |  | $ | 145 |  | $ | (133) |  | $ | 12 |
| 1. |  | Restatement of Consolidated Financial Statements (Continued)
CONSOLIDATED SHARE OWNERS' EQUITY Dollars in millions
|  | Retained earnings (loss) |  | Total share owners' equity |
January 1, 2013 |  |  |  |  |  |  |
As Reported |  | $ | (195) |  | $ | 1,055 |
Adjustments |  |  | (726) |  |  | (726) |
As Restated |  | $ | (921) |  | $ | 329 |
December 31, 2013 |  |  |  |  |  |  |
As Reported |  | $ | (11) |  | $ | 1,603 |
Adjustments |  |  | (593) |  |  | (593) |
As Restated |  | $ | (604) |  | $ | 1,010 |
December 31, 2014 |  |  |  |  |  |  |
As Reported |  | $ | 64 |  | $ | 1,275 |
Adjustments |  |  | (504) |  |  | (504) |
As Restated |  | $ | (440) |  | $ | 771 |
December 31, 2015 |  |  |  |  |  |  |
As Reported |  | $ | (10) |  | $ | 574 |
Adjustments |  |  | (295) |  |  | (295) |
As Restated |  | $ | (305) |  | $ | 279 |

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- Definition Tabular disclosure of prior period adjustments to previously issued financial statements including (1) the effect of the correction on each financial statement line item and any per-share amounts affected for each prior period presented (2) the cumulative effect of the change on retained earnings or other appropriate components of equity or net assets in the statement of financial position, as of the beginning of the earliest period presented, and (3) the effect of the prior period adjustments (both gross and net of applicable income tax) on the net income of each prior period presented in the entity's annual report for the year in which the adjustments are made. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=56949863&loc=d3e22663-107794 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=56949863&loc=d3e22644-107794 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=56949863&loc=d3e22658-107794 + Details
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