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Stockholders' Equity | 9 Months Ended
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Sep. 30, 2015
Stockholders' Equity Note [Abstract] |
Stockholders' Equity | Stockholders’ Equity Share Repurchase Program 2015 Share Buyback Plan In the first quarter 2015, DuPont announced its intention to buy back shares of about $4,000 using the distribution proceeds received from Chemours. In connection with the completion of the spin-off of Chemours, the Board of Directors authorized the use of the distribution proceeds to buy back shares of the company's common stock as follows: $2,000 to be purchased and retired by December 31, 2015 with the remainder to be purchased and retired by December 31, 2016. In August 2015, the company entered into an accelerated share repurchase (ASR) agreement. Under the terms of the August 2015 ASR agreement, the company paid $2,000 to the financial institution and received and retired an initial delivery of 28.8 million shares, which represent 80 percent of the $2,000 notional amount of the agreement. The purchase price per share and final number of shares retired will be determined using the volume-weighted price of the company's stock over the term of the ASR agreement. The August 2015 ASR will be completed in the fourth quarter 2015. 2014 Share Buyback Plan In January 2014, the company's Board of Directors authorized a $5,000 share buyback plan that replaced the 2011 plan. During the nine months ended September 30, 2015, the company purchased and retired 4.6 million shares in the open market for a total cost of $353, which offset the dilution from employee compensation plans in the first and second quarter of 2015. As of September 30, 2015, the company has purchased 34.7 million shares at a total cost of $2,353 under the plan. There is no required completion date for the remaining stock purchases. Noncontrolling Interest In September 2015, the company obtained a controlling interest in a joint venture included in the Performance Materials segment. Accordingly, the company consolidated the entity at September 30, 2015 and recorded the fair value of the noncontrolling interest in the amount of $157 in the Condensed Consolidated Balance Sheet. Other Comprehensive Income (Loss) A summary of the changes in other comprehensive income (loss) for the three and nine months ended September 30, 2015 and 2014 is provided as follows:
| Three Months Ended | Three Months Ended | Affected Line Item in Consolidated Income Statements
| September 30, 2015 | September 30, 2014
| Pre-Tax | Tax | After-Tax | Pre-Tax | Tax | After-Tax |
Cumulative translation adjustment | $ | (125 | ) | $ | — |  | $ | (125 | ) | $ | (428 | ) | $ | — |  | $ | (428 | ) |
Net revaluation and clearance of cash flow hedges to earnings: |  |  |  |  |  |  |
Additions and revaluations of derivatives designated as cash flow hedges | (22 | ) | 9 |  | (13 | ) | (3 | ) | 2 |  | (1 | ) | See (1) below
Clearance of hedge results to earnings: |  |  |  |  |  |  |
Foreign currency contracts | — |  | — |  | — |  | (2 | ) | 1 |  | (1 | ) | Net sales
Net revaluation and clearance of cash flow hedges to earnings | (22 | ) | 9 |  | (13 | ) | (5 | ) | 3 |  | (2 | ) |
Pension benefit plans: |  |  |  |  |  |  |
Net gain (loss)(3) | 634 |  | (228 | ) | 406 |  | (5 | ) | 1 |  | (4 | ) | See (1) below
Prior service cost | — |  | — |  | — |  | (1 | ) | — |  | (1 | ) | See (1) below
Effect of foreign exchange rates | 54 |  | (16 | ) | 38 |  | — |  | — |  | — |  | See (1) below
Reclassifications to net income: |  |  |  |  |  |  |
Amortization of prior service (benefit) cost | (3 | ) | 1 |  | (2 | ) | 1 |  | — |  | 1 |  | See (2) below
Amortization of loss | 172 |  | (61 | ) | 111 |  | 151 |  | (52 | ) | 99 |  | See (2) below
Curtailment gain | (7 | ) | 3 |  | (4 | ) | — |  | — |  | — |  | See (2) below
Settlement loss | 44 |  | (16 | ) | 28 |  | 2 |  | (1 | ) | 1 |  | See (2) below
Pension benefit plans, net | 894 |  | (317 | ) | 577 |  | 148 |  | (52 | ) | 96 |  |
Other benefit plans: |  |  |  |  |  |  |
Net loss(3) | (73 | ) | 27 |  | (46 | ) | (33 | ) | 10 |  | (23 | ) | See (1) below
Prior service benefit | — |  | — |  | — |  | 50 |  | (1 | ) | 49 |  | See (1) below
Effect of foreign exchange rates | (1 | ) | 1 |  | — |  | — |  | — |  | — |  | See (1) below
Reclassifications to net income: |  |  |  |  |  |  |
Amortization of prior service benefit | (39 | ) | 13 |  | (26 | ) | (54 | ) | 18 |  | (36 | ) | See (2) below
Amortization of loss | 20 |  | (7 | ) | 13 |  | 15 |  | (6 | ) | 9 |  | See (2) below
Curtailment gain | (274 | ) | 98 |  | (176 | ) | — |  | — |  | — |  | See (2) below
Other benefit plans, net | (367 | ) | 132 |  | (235 | ) | (22 | ) | 21 |  | (1 | ) |
Other comprehensive income (loss) | $ | 380 |  | $ | (176 | ) | $ | 204 |  | $ | (307 | ) | $ | (28 | ) | $ | (335 | ) |
| Nine Months Ended | Nine Months Ended | Affected Line Item in Consolidated Income Statements
| September 30, 2015 | September 30, 2014
| Pre-Tax | Tax | After-Tax | Pre-Tax | Tax | After-Tax |
Cumulative translation adjustment(4) | $ | (1,405 | ) | $ | — |  | $ | (1,405 | ) | $ | (559 | ) | $ | — |  | $ | (559 | ) |
Net revaluation and clearance of cash flow hedges to earnings: |  |  |  |  |  |  |
Additions and revaluations of derivatives designated as cash flow hedges | (36 | ) | 12 |  | (24 | ) | 23 |  | (8 | ) | 15 |  | See (1) below
Clearance of hedge results to earnings: |  |  |  |  |  |  |
Foreign currency contracts | (10 | ) | 4 |  | (6 | ) | — |  | — |  | — |  | Net sales
Commodity contracts | 22 |  | (9 | ) | 13 |  | 29 |  | (11 | ) | 18 |  | Cost of goods sold
Net revaluation and clearance of cash flow hedges to earnings | (24 | ) | 7 |  | (17 | ) | 52 |  | (19 | ) | 33 |  |
Pension benefit plans: |  |  |  |  |  |  |
Net gain (loss)(3) | 628 |  | (226 | ) | 402 |  | (107 | ) | 34 |  | (73 | ) | See (1) below
Prior service cost | — |  | — |  | — |  | (1 | ) | — |  | (1 | ) | See (1) below
Effect of foreign exchange rates | 92 |  | (25 | ) | 67 |  | — |  | — |  | — |  | See (1) below
Reclassifications to net income: |  |  |  |  |  |  |
Amortization of prior service (benefit) cost | (6 | ) | 2 |  | (4 | ) | 2 |  | — |  | 2 |  | See (2) below
Amortization of loss | 591 |  | (210 | ) | 381 |  | 450 |  | (155 | ) | 295 |  | See (2) below
Curtailment (gain) loss | (7 | ) | 3 |  | (4 | ) | 4 |  | (1 | ) | 3 |  | See (2) below
Settlement loss | 53 |  | (19 | ) | 34 |  | 4 |  | (1 | ) | 3 |  | See (2) below
Pension benefit plans, net | 1,351 |  | (475 | ) | 876 |  | 352 |  | (123 | ) | 229 |  |
Other benefit plans: |  |  |  |  |  |  |
Net loss(3) | (73 | ) | 27 |  | (46 | ) | (33 | ) | 10 |  | (23 | ) | See (1) below
Prior service benefit | — |  | — |  | — |  | 50 |  | (1 | ) | 49 |  | See (1) below
Effect of foreign exchange rates | (1 | ) | 1 |  | — |  | — |  | — |  | — |  | See (1) below
Reclassifications to net income: |  |  |  |  |  |  |
Amortization of prior service benefit | (143 | ) | 50 |  | (93 | ) | (160 | ) | 56 |  | (104 | ) | See (2) below
Amortization of loss | 58 |  | (20 | ) | 38 |  | 43 |  | (15 | ) | 28 |  | See (2) below
Curtailment gain | (274 | ) | 98 |  | (176 | ) | — |  | — |  | — |  | See (2) below
Other benefit plans, net | (433 | ) | 156 |  | (277 | ) | (100 | ) | 50 |  | (50 | ) |
Other comprehensive loss | $ | (511 | ) | $ | (312 | ) | $ | (823 | ) | $ | (255 | ) | $ | (92 | ) | $ | (347 | ) |
1 | These amounts represent changes in accumulated other comprehensive loss excluding changes due to reclassifying amounts to the interim Consolidated Income Statements.
2 | These accumulated other comprehensive loss 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 13 for additional information.
3 | See Note 13 for discussion of the re-measurement of the principal U.S. pension plan and other long-term employee benefit plans as a result of the Performance Chemicals separation.
4 | The increase in currency translation adjustment losses over prior year for the nine months ended September 30, 2015 is driven by the strengthening USD against primarily the Euro and Brazilian real. The change in both periods is also due to changes in certain foreign entity's functional currency as described in Note 1.
The changes and after-tax balances of components comprising accumulated other comprehensive 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 on Securities | Total
2015 |  |  |  |  |  |  |  |  |  |  |  |
Balance January 1, 2015 | $ | (919 | ) | $ | (6 | ) | $ | (7,895 | ) | $ | 262 |  | $ | 2 |  | $ | (8,556 | )
Other comprehensive (loss) income before reclassifications | (1,405 | ) | (24 | ) | 469 |  | (46 | ) | — |  | (1,006 | )
Amounts reclassified from accumulated other comprehensive loss | — |  | 7 |  | 407 |  | (231 | ) | — |  | 183 |
Spin-off of Chemours | 191 |  | — |  | 278 |  | — |  | (1 | ) | 468 |
Balance September 30, 2015 | $ | (2,133 | ) | $ | (23 | ) | $ | (6,741 | ) | $ | (15 | ) | $ | 1 |  | $ | (8,911 | )
| Cumulative Translation Adjustment | Net Revaluation and Clearance of Cash Flow Hedges to Earnings | Pension Benefit Plans | Other Benefit Plans | Unrealized Gain on Securities | Total
2014 |  |  |  |  |  |  |  |  |  |  |  |
Balance January 1, 2014 | $ | (43 | ) | $ | (48 | ) | $ | (5,695 | ) | $ | 494 |  | $ | 2 |  | $ | (5,290 | )
Other comprehensive (loss) income before reclassifications | (559 | ) | 15 |  | (74 | ) | 26 |  | — |  | (592 | )
Amounts reclassified from accumulated other comprehensive loss | — |  | 18 |  | 302 |  | (76 | ) | — |  | 244 |
Balance September 30, 2014 | $ | (602 | ) | $ | (15 | ) | $ | (5,467 | ) | $ | 444 |  | $ | 2 |  | $ | (5,638 | )

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