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Stockholders' Equity | 6 Months Ended
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Jun. 30, 2016
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, which was completed during 2015, with the remainder to be purchased and retired by December 31, 2016. There were no share repurchases under this plan in the first and second quarter 2016. As a result of the planned merger with Dow, the company’s opportunity to repurchase shares was restricted until after the shareholder vote on the merger. The shareholder vote occurred on July 20, 2016. During the remainder of the year, the company will evaluate the opportunities to enter the market and plans to make repurchases; however, it is unlikely that the company will complete all of the remaining $2,000 stock buyback by year-end. As of June 30, 2016, in aggregate, the company has paid $2,000 and received and retired 35 million shares. 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 three and six months ended June 30, 2015, the company purchased and retired 1 million and 4.6 million shares, respectively, 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. There were no share repurchases under this plan in the first and second quarter 2016. As of June 30, 2016, in aggregate, 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. Other Comprehensive (Loss) Income A summary of the changes in other comprehensive (loss) income for the three and six months ended June 30, 2016 and 2015 is provided as follows:
| Three Months Ended | Three Months Ended | Affected Line Item in Consolidated Income Statements
| June 30, 2016 | June 30, 2015
| Pre-Tax | Tax | After-Tax | Pre-Tax | Tax | After-Tax |
Cumulative translation adjustment(1) | $ | (97 | ) | $ | — |  | $ | (97 | ) | $ | 197 |  | $ | — |  | $ | 197 |  |
Net revaluation and clearance of cash flow hedges to earnings: |  |  |  |  |  |  |
Additions and revaluations of derivatives designated as cash flow hedges | 21 |  | (8 | ) | 13 |  | 8 |  | (3 | ) | 5 |  | See (2) below
Clearance of hedge results to earnings: |  |  |  |  |  |  |
Foreign currency contracts | — |  | — |  | — |  | (2 | ) | 1 |  | (1 | ) | Net sales
Commodity contracts | 7 |  | (3 | ) | 4 |  | 7 |  | (3 | ) | 4 |  | Cost of goods sold
Net revaluation and clearance of cash flow hedges to earnings | 28 |  | (11 | ) | 17 |  | 13 |  | (5 | ) | 8 |  |
Pension benefit plans: |  |  |  |  |  |  |
Net loss | (1,281 | ) | 455 |  | (826 | ) | (2 | ) | 1 |  | (1 | ) | See (2) below
Effect of foreign exchange rates | 31 |  | (7 | ) | 24 |  | (62 | ) | 18 |  | (44 | ) | See (2) below
Reclassifications to net income: |  |  |  |  |  |  |
Amortization of prior service benefit | (1 | ) | — |  | (1 | ) | (1 | ) | — |  | (1 | ) | See (3) below
Amortization of loss | 204 |  | (72 | ) | 132 |  | 210 |  | (75 | ) | 135 |  | See (3) below
Curtailment loss, net | 17 |  | (5 | ) | 12 |  | — |  | — |  | — |  | See (3) below
Settlement loss | 37 |  | (14 | ) | 23 |  | 4 |  | (1 | ) | 3 |  | See (3) below
Pension benefit plans, net | (993 | ) | 357 |  | (636 | ) | 149 |  | (57 | ) | 92 |  |
Other benefit plans: |  |  |  |  |  |  |
Net loss | (141 | ) | 50 |  | (91 | ) | — |  | — |  | — |  | See (2) below
Reclassifications to net income: |  |  |  |  |  |  |
Amortization of prior service benefit | (36 | ) | 12 |  | (24 | ) | (52 | ) | 18 |  | (34 | ) | See (3) below
Amortization of loss | 18 |  | (5 | ) | 13 |  | 19 |  | (6 | ) | 13 |  | See (3) below
Curtailment gain, net | (3 | ) | 1 |  | (2 | ) | — |  | — |  | — |  | See (3) below
Other benefit plans, net | (162 | ) | 58 |  | (104 | ) | (33 | ) | 12 |  | (21 | ) |
Net unrealized gain on securities: |  |  |  |  |  |  |
Unrealized gain on securities arising during the period | 2 |  | — |  | 2 |  | — |  | — |  | — |  | See (4) below
Reclassification of loss realized in net income | 12 |  | — |  | 12 |  | — |  | — |  | — |  | Other income, net
Net unrealized gain on securities | 14 |  | — |  | 14 |  | — |  | — |  | — |  |
Other comprehensive (loss) income | $ | (1,210 | ) | $ | 404 |  | $ | (806 | ) | $ | 326 |  | $ | (50 | ) | $ | 276 |  |
| Six Months Ended | Six Months Ended | Affected Line Item in Consolidated Income Statements
| June 30, 2016 | June 30, 2015
| Pre-Tax | Tax | After-Tax | Pre-Tax | Tax | After-Tax |
Cumulative translation adjustment(1) | $ | 73 |  | $ | — |  | $ | 73 |  | $ | (992 | ) | $ | — |  | $ | (992 | ) |
Net revaluation and clearance of cash flow hedges to earnings: |  |  |  |  |  |  |
Additions and revaluations of derivatives designated as cash flow hedges | 37 |  | (14 | ) | 23 |  | (14 | ) | 3 |  | (11 | ) | See (2) below
Clearance of hedge results to earnings: |  |  |  |  |  |  |
Foreign currency contracts | — |  | — |  | — |  | (10 | ) | 4 |  | (6 | ) | Net sales
Commodity contracts | 18 |  | (7 | ) | 11 |  | 22 |  | (9 | ) | 13 |  | Cost of goods sold
Net revaluation and clearance of cash flow hedges to earnings | 55 |  | (21 | ) | 34 |  | (2 | ) | (2 | ) | (4 | ) |
Pension benefit plans: |  |  |  |  |  |  |
Net loss | (2,472 | ) | 883 |  | (1,589 | ) | (6 | ) | 2 |  | (4 | ) | See (2) below
Effect of foreign exchange rates | 32 |  | (7 | ) | 25 |  | 38 |  | (9 | ) | 29 |  | See (2) below
Reclassifications to net income: |  |  |  |  |  |  |
Amortization of prior service benefit | (3 | ) | 1 |  | (2 | ) | (3 | ) | 1 |  | (2 | ) | See (3) below
Amortization of loss | 376 |  | (132 | ) | 244 |  | 419 |  | (149 | ) | 270 |  | See (3) below
Curtailment loss, net | 66 |  | (22 | ) | 44 |  | — |  | — |  | — |  | See (3) below
Settlement loss | 38 |  | (15 | ) | 23 |  | 9 |  | (3 | ) | 6 |  | See (3) below
Pension benefit plans, net | (1,963 | ) | 708 |  | (1,255 | ) | 457 |  | (158 | ) | 299 |  |
Other benefit plans: |  |  |  |  |  |  |
Net loss | (265 | ) | 95 |  | (170 | ) | — |  | — |  | — |  | See (2) below
Reclassifications to net income: |  |  |  |  |  |  |
Amortization of prior service benefit | (75 | ) | 25 |  | (50 | ) | (104 | ) | 37 |  | (67 | ) | See (3) below
Amortization of loss | 35 |  | (12 | ) | 23 |  | 38 |  | (13 | ) | 25 |  | See (3) below
Curtailment gain, net | (33 | ) | 11 |  | (22 | ) | — |  | — |  | — |  | See (3) below
Other benefit plans, net | (338 | ) | 119 |  | (219 | ) | (66 | ) | 24 |  | (42 | ) |
Net unrealized gain on securities: |  |  |  |  |  |  |
Unrealized loss on securities arising during the period | (7 | ) | — |  | (7 | ) | — |  | — |  | — |  | See (4) below
Reclassification of loss realized in net income | 13 |  | — |  | 13 |  | — |  | — |  | — |  | Other income, net
Net unrealized gain on securities | 6 |  | — |  | 6 |  | — |  | — |  | — |  |
Other comprehensive loss | $ | (2,167 | ) | $ | 806 |  | $ | (1,361 | ) | $ | (603 | ) | $ | (136 | ) | $ | (739 | ) |
1. | The currency translation loss for the three months ended June 30, 2016 is primarily driven by the strengthening of the U.S. dollar (USD) against the European Euro (EUR), partially offset by further weakening of the USD against the Brazilian real (BRL). The currency translation gain for the three months ended June 30, 2015 was driven by the weakening of the USD against both the EUR and BRL. The currency translation gain for the six months ended June 30, 2016 is primarily driven by modest weakening of the USD against the EUR and BRL as compared to the currency translation loss for the six months ended June 30, 2015 which was driven by the USD strengthening against the EUR and BRL.
2. | These amounts represent changes in accumulated other comprehensive loss excluding changes due to reclassifying amounts to the interim Consolidated Income Statements. See Notes 13 and 14 for additional information.
3. | 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 14 for additional information.
4. | The unrealized gain (loss) on securities during the three and six months ended June 30, 2016 is due to the re-measurement of USD denominated marketable securities held by certain foreign entities at June 30, 2016 with a corresponding offset to cumulative translation adjustment.
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 (Loss) Gain on Securities | Total
2016 |  |  |  |  |  |  |  |  |  |  |  |
Balance January 1, 2016 | $ | (2,333 | ) | $ | (24 | ) | $ | (7,043 | ) | $ | 22 |  | $ | (18 | ) | $ | (9,396 | )
Other comprehensive income (loss) before reclassifications | 73 |  | 23 |  | (1,564 | ) | (170 | ) | (7 | ) | (1,645 | )
Amounts reclassified from accumulated other comprehensive income (loss) | — |  | 11 |  | 309 |  | (49 | ) | 13 |  | 284 |
Balance June 30, 2016 | $ | (2,260 | ) | $ | 10 |  | $ | (8,298 | ) | $ | (197 | ) | $ | (12 | ) | $ | (10,757 | )
| Cumulative Translation Adjustment | Net Revaluation and Clearance of Cash Flow Hedges to Earnings | Pension Benefit Plans | Other Benefit Plans | Unrealized (Loss) Gain on Securities | Total
2015 |  |  |  |  |  |  |  |  |  |  |  |
Balance January 1, 2015 | $ | (919 | ) | $ | (6 | ) | $ | (7,895 | ) | $ | 262 |  | $ | 2 |  | $ | (8,556 | )
Other comprehensive income (loss) before reclassifications | (992 | ) | (11 | ) | 25 |  | — |  | — |  | (978 | )
Amounts reclassified from accumulated other comprehensive income (loss) | — |  | 7 |  | 274 |  | (42 | ) | — |  | 239 |
Balance June 30, 2015 | $ | (1,911 | ) | $ | (10 | ) | $ | (7,596 | ) | $ | 220 |  | $ | 2 |  | $ | (9,295 | )

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