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Stockholders' Equity | 6 Months Ended
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Jun. 30, 2013
Stockholders' Equity Note [Abstract] |
Stockholders' Equity | Stockholders’ Equity Share Repurchase Program In December 2012, the company's Board of Directors authorized a $1,000 share buyback plan. In February 2013, the company entered into an accelerated share repurchase (ASR) agreement with a financial institution under which the company used $1,000 of the proceeds from the sale of Performance Coatings for the purchase of shares of common stock. The 2012 $1,000 share buyback plan was completed in the second quarter 2013 through the ASR agreement, under which the company purchased and retired 20.4 million shares as of June 30, 2013. During the six months ended June 30, 2012, the company paid $400 for the purchase and receipt of shares of common stock. During 2012, the company purchased and retired 7.8 million shares in connection with this agreement. These purchases completed the 2001 $2,000 share buyback plan and began purchases under the 2011 $2,000 share buyback plan authorized by the company's Board of Directors in April 2011. Under the completed 2001 plan, the company purchased a total of 42.0 million shares. Under the 2011 plan, the company has purchased 5.5 million shares at a total cost of $284 as of June 30, 2013. There is no required completion date for the purchases under the 2011 plan. Noncontrolling Interest In May 2012, the company completed the acquisition of the remaining 28 percent interest in the Solae, LLC joint venture from Bunge Limited for $447. As the purchase of the remaining interest did not result in a change of control, the difference between the carrying value of the noncontrolling interest of $378 and the consideration paid, net of taxes of $78, was recorded as a $9 increase to additional paid-in capital. Other Comprehensive Income A summary of the changes in other comprehensive income for the three and six months ended June 30, 2013 and 2012 is provided as follows:
| Three Months Ended | Three Months Ended | Affected Line Item in Consolidated Income Statements 1
| June 30, 2013 | June 30, 2012
| Pre-Tax | Tax | After-Tax | Pre-Tax | Tax | After-Tax |
Cumulative translation adjustment | $ | (14 | ) | $ | — |  | $ | (14 | ) | $ | (412 | ) | $ | — |  | $ | (412 | ) |
Net revaluation and clearance of cash flow hedges to earnings: |  |  |  |  |  |  |
Additions and revaluations of derivatives designated as cash flow hedges | (8 | ) | 2 |  | (6 | ) | 38 |  | (15 | ) | 23 |  | See (2) below
Clearance of hedge results to earnings: |  |  |  |  |  |  |
Foreign currency contracts | (7 | ) | 3 |  | (4 | ) | (3 | ) | 1 |  | (2 | ) | Net Sales
Commodity contracts | (11 | ) | 4 |  | (7 | ) | (20 | ) | 9 |  | (11 | ) | Cost of goods sold
Net revaluation and clearance of cash flow hedges to earnings | (26 | ) | 9 |  | (17 | ) | 15 |  | (5 | ) | 10 |  |
Pension benefit plans: |  |  |  |  |  |  |
Net gain | — |  | — |  | — |  | 4 |  | 7 |  | 11 |  | See (2) below
Prior service cost | — |  | — |  | — |  | — |  | (1 | ) | (1 | ) | See (2) below
Reclassifications to net income: |  |  |  |  |  |  |
Amortization of prior service cost | 3 |  | (1 | ) | 2 |  | 3 |  | (1 | ) | 2 |  | See (3) below
Amortization of loss | 239 |  | (82 | ) | 157 |  | 220 |  | (77 | ) | 143 |  | See (3) below
Pension benefit plans, net | 242 |  | (83 | ) | 159 |  | 227 |  | (72 | ) | 155 |  |
Other benefit plans: |  |  |  |  |  |  |
Net gain | 28 |  | (9 | ) | 19 |  | — |  | — |  | — |  | See (2) below
Reclassifications to net income: |  |  |  |  |  |  |
Amortization of prior service benefit | (46 | ) | 17 |  | (29 | ) | (30 | ) | 9 |  | (21 | ) | See (3) below
Amortization of (gain) loss | (2 | ) | — |  | (2 | ) | 22 |  | (7 | ) | 15 |  | See (3) below
Other benefit plans, net | (20 | ) | 8 |  | (12 | ) | (8 | ) | 2 |  | (6 | ) |
Net unrealized gain on securities | 3 |  | (1 | ) | 2 |  | 1 |  | (1 | ) | — |  |
Other comprehensive income (loss) | $ | 185 |  | $ | (67 | ) | $ | 118 |  | $ | (177 | ) | $ | (76 | ) | $ | (253 | ) |
| Six Months Ended | Six Months Ended | Affected Line Item in Consolidated Income Statements 1
| June 30, 2013 | June 30, 2012
| Pre-Tax | Tax | After-Tax | Pre-Tax | Tax | After-Tax |
Cumulative translation adjustment | $ | (223 | ) | $ | — |  | $ | (223 | ) | $ | (242 | ) | $ | — |  | $ | (242 | ) |
Net revaluation and clearance of cash flow hedges to earnings: |  |  |  |  |  |  |
Additions and revaluations of derivatives designated as cash flow hedges | (24 | ) | 9 |  | (15 | ) | 36 |  | (15 | ) | 21 |  | See (2) below
Clearance of hedge results to earnings: |  |  |  |  |  |  |
Foreign currency contracts | (3 | ) | 1 |  | (2 | ) | (6 | ) | 2 |  | (4 | ) | Net Sales
Commodity contracts | (25 | ) | 10 |  | (15 | ) | (49 | ) | 21 |  | (28 | ) | Cost of goods sold
Net revaluation and clearance of cash flow hedges to earnings | (52 | ) | 20 |  | (32 | ) | (19 | ) | 8 |  | (11 | ) |
Pension benefit plans: |  |  |  |  |  |  |
Net gain (loss) | 56 |  | (14 | ) | 42 |  | (19 | ) | 10 |  | (9 | ) | See (2) below
Prior service benefit | — |  | — |  | — |  | 22 |  | (8 | ) | 14 |  | See (2) below
Reclassifications to net income: |  |  |  |  |  |  |
Amortization of prior service cost | 6 |  | (2 | ) | 4 |  | 7 |  | (2 | ) | 5 |  | See (3) below
Amortization of loss | 480 |  | (164 | ) | 316 |  | 439 |  | (152 | ) | 287 |  | See (3) below
Curtailment loss | 1 |  | — |  | 1 |  | — |  | — |  | — |  | See (3) below
Settlement loss | 152 |  | (45 | ) | 107 |  | — |  | — |  | — |  | See (3) below
Pension benefit plans, net | 695 |  | (225 | ) | 470 |  | 449 |  | (152 | ) | 297 |  |
Other benefit plans: |  |  |  |  |  |  |
Net gain | 45 |  | (15 | ) | 30 |  | — |  | — |  | — |  | See (2) below
Reclassifications to net income: |  |  |  |  |  |  |
Amortization of prior service benefit | (94 | ) | 34 |  | (60 | ) | (60 | ) | 20 |  | (40 | ) | See (3) below
Amortization of loss | 25 |  | (9 | ) | 16 |  | 44 |  | (15 | ) | 29 |  | See (3) below
Curtailment gain | (154 | ) | 54 |  | (100 | ) | — |  | — |  | — |  | See (3) below
Settlement loss | 1 |  | — |  | 1 |  | — |  | — |  | — |  | See (3) below
Other benefit plans, net | (177 | ) | 64 |  | (113 | ) | (16 | ) | 5 |  | (11 | ) |
Net unrealized gain on securities | 1 |  | (1 | ) | — |  | 2 |  | (1 | ) | 1 |  |
Other comprehensive income | $ | 244 |  | $ | (142 | ) | $ | 102 |  | $ | 174 |  | $ | (140 | ) | $ | 34 |  |
1 | Represents the income statement line item within the interim Consolidated Income Statement affected by the pre-tax reclassification out of other comprehensive income (loss).
2 | These amounts represent changes in accumulated other comprehensive income excluding changes due to reclassifying amounts to the interim Consolidated Income Statements.
3 | These accumulated other comprehensive income components are included in the computation of net periodic benefit cost of the company's pension and other long-term employee benefit plans. See Note 12 for additional information.
The changes and after-tax balances of components comprising accumulated other comprehensive income (loss) are summarized below:
| Cumulative Translation Adjustment | Net Revaluation and Clearance of Cash Flow Hedges to Earnings | Pension Benefit Plans | Other Benefit Plans | Unrealized Gain (Loss) on Securities | Total
2013 |  |  |  |  |  |  |  |  |  |  |  |
Balance January 1, 2013 | $ | (167 | ) | $ | 3 |  | $ | (8,686 | ) | $ | 202 |  | $ | 2 |  | $ | (8,646 | )
Other comprehensive income before reclassifications | (223 | ) | (15 | ) | 42 |  | 30 |  | 1 |  | (165 | )
Amounts reclassified from accumulated other comprehensive income (loss) | — |  | (17 | ) | 428 |  | (143 | ) | (1 | ) | 267 |
Balance June 30, 2013 | $ | (390 | ) | $ | (29 | ) | $ | (8,216 | ) | $ | 89 |  | $ | 2 |  | $ | (8,544 | )
| Cumulative Translation Adjustment | Net Revaluation and Clearance of Cash Flow Hedges to Earnings | Pension Benefit Plans | Other Benefit Plans | Unrealized Gain on Securities | Total
2012 |  |  |  |  |  |  |  |  |  |  |  |
Balance January 1, 2012 | $ | (244 | ) | $ | 41 |  | $ | (8,276 | ) | $ | (274 | ) | $ | 3 |  | $ | (8,750 | )
Other comprehensive income before reclassifications | (242 | ) | 20 |  | (20 | ) | (1 | ) | — |  | (243 | )
Amounts reclassified from accumulated other comprehensive income (loss) | — |  | (32 | ) | 292 |  | (11 | ) | 1 |  | 250 |
Balance June 30, 2012 | $ | (486 | ) | $ | 29 |  | $ | (8,004 | ) | $ | (286 | ) | $ | 4 |  | $ | (8,743 | )

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- Definition The entire disclosure for shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, if any, including other comprehensive income (as applicable). Including, but not limited to: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms, and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables, effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Article 4 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 29, 30, 31 -Article 5 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Research Bulletin (ARB) -Number 43 -Section B -Paragraph 7, 11A -Chapter 1 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 5 -Paragraph 15 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 4.E) -URI http://asc.fasb.org/extlink&oid=6228006&loc=d3e74512-122707 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Preferred Stock -URI http://asc.fasb.org/extlink&oid=6521494 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 4 -Subparagraph (SAB TOPIC 4.C) -URI http://asc.fasb.org/extlink&oid=6959260&loc=d3e187143-122770 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(d),(e)) -URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 129 -Paragraph 2, 3, 4, 5, 6, 7, 8 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 4 -Section C Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 4 -Section E Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.29-31) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 12 -Paragraph 10 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. 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