XML 44 R24.htm IDEA: XBRL DOCUMENT
v3.6.0.2

Stockholders' Equity | 12 Months Ended
--- | ---
Dec. 31, 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 quarters of 2016. The company had limited opportunity to repurchase shares in 2016, primarily due to the planned merger with Dow. However, during the second half of 2016, the company purchased and retired 13.2 million shares in the open market for a total cost of $916. As of December 31, 2016, in aggregate, the company has paid $2,916 and received and retired 48.2 million shares. As of January 1, 2017, the authorization under this buyback program has expired. 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 2014, the company purchased and retired 30.1 million shares for $2,000 under two separate accelerated share repurchase (ASR) agreements as well as open market purchases. During 2015, the company repurchased and retired 4.6 million shares in the open market for a total cost of $353. There were no share repurchases under this plan during 2016. As of December 31, 2016, in aggregate, the company has purchased 34.7 million shares at a total cost of $2,353 under the plan. As a result, $2,647 buyback authority remains under this program. There is no required completion date for the remaining stock purchases under the 2014 plan. Common stock held in treasury is recorded at cost. When retired, the excess of the cost of treasury stock over its par value is allocated between reinvested earnings and additional paid-in capital. Set forth below is a reconciliation of common stock share activity for the years ended December 31, 2016, 2015 and 2014:
Shares of common stock | Issued | Held In Treasury
Balance January 1, 2014 | 1,014,027,000 |  | (87,041,000 | )
Issued | 8,103,000 |  | — |
Repurchased | — |  | (30,110,000 | )
Retired | (30,110,000 | ) | 30,110,000 |
Balance December 31, 2014 | 992,020,000 |  | (87,041,000 | )
Issued | 5,932,000 |  | — |
Repurchased | — |  | (39,564,000 | )
Retired | (39,564,000 | ) | 39,564,000 |
Balance December 31, 2015 | 958,388,000 |  | (87,041,000 | )
Issued | 4,808,000 |  | — |
Repurchased | — |  | (13,152,000 | )
Retired | (13,152,000 | ) | 13,152,000 |
Balance December 31, 2016 | 950,044,000 |  | (87,041,000 | )
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 December 31, 2015 and recorded the fair value of the noncontrolling interest in the amount of $151 in the Consolidated Balance Sheet. Other Comprehensive Loss The changes and after-tax balances of components comprising accumulated other comprehensive loss are summarized below:
| Cumulative Translation Adjustment 1 | Net Gains (Losses) on Cash Flow Hedging Derivative Instruments | Pension Benefit Plans | Other Benefit Plans | Unrealized Gain (Loss) on Securities | Total
2014 |  |  |  |  |  |  |  |  |  |  |  |
Balance January 1, 2014 | $ | (43 | ) | $ | (48 | ) | $ | (5,695 | ) | $ | 494 |  | $ | 2 |  | $ | (5,290 | )
Other comprehensive (loss) income before reclassifications | (876 | ) | 33 |  | (2,601 | ) | (131 | ) | — |  | (3,575 | )
Amounts reclassified from accumulated other comprehensive loss | — |  | 9 |  | 401 |  | (101 | ) | — |  | 309 |
Net other comprehensive (loss) income | $ | (876 | ) | $ | 42 |  | $ | (2,200 | ) | $ | (232 | ) | $ | — |  | $ | (3,266 | )
Balance December 31, 2014 | $ | (919 | ) | $ | (6 | ) | $ | (7,895 | ) | $ | 262 |  | $ | 2 |  | $ | (8,556 | )
2015 |  |  |  |  |  |  |  |  |  |  |  |
Other comprehensive (loss) income before reclassifications | (1,605 | ) | (25 | ) | 39 |  | 3 |  | (17 | ) | (1,605 | )
Amounts reclassified from accumulated other comprehensive loss | — |  | 7 |  | 535 |  | (243 | ) | (2 | ) | 297 |
Net other comprehensive (loss) income | $ | (1,605 | ) | $ | (18 | ) | $ | 574 |  | $ | (240 | ) | $ | (19 | ) | $ | (1,308 | )
Spin-off of Chemours | 191 |  | — |  | 278 |  | — |  | (1 | ) | 468 |
Balance December 31, 2015 | $ | (2,333 | ) | $ | (24 | ) | $ | (7,043 | ) | $ | 22 |  | $ | (18 | ) | $ | (9,396 | )
2016 |  |  |  |  |  |  |  |  |  |  |  |
Other comprehensive (loss) income before reclassifications | (510 | ) | 20 |  | (271 | ) | (81 | ) | (8 | ) | (850 | )
Amounts reclassified from accumulated other comprehensive loss | — |  | 11 |  | 594 |  | (298 | ) | 28 |  | 335 |
Net other comprehensive (loss) income | $ | (510 | ) | $ | 31 |  | $ | 323 |  | $ | (379 | ) | $ | 20 |  | $ | (515 | )
Balance December 31, 2016 | $ | (2,843 | ) | $ | 7 |  | $ | (6,720 | ) | $ | (357 | ) | $ | 2 |  | $ | (9,911 | )
1. | The currency translation loss for the year ended December 31, 2016 is primarily driven by the strengthening of the U.S. dollar (USD) against the European Euro (EUR) partially offset by the weakening of the USD against the Brazilian real (BRL). The currency translation loss for the years ended December 31, 2015 and 2014 is driven by the strengthening USD against primarily the EUR and BRL. For the year ended December 31, 2015, the increase over prior year is also due to changes in certain foreign entity's functional currency as described in Note 1.
The tax benefit (expense) on the net activity related to each component of other comprehensive loss were as follows:
For the year ended December 31, | 2016 | 2015 | 2014
Net gains (losses) on cash flow hedging derivative instruments | $ | (19 | ) | $ | 7 |  | $ | (26 | )
Pension benefit plans, net | (163 | ) | (317 | ) | 1,274 |
Other benefit plans, net | 194 |  | 135 |  | 155 |
Benefit from (provision for) income taxes related to other comprehensive (loss) income items | $ | 12 |  | $ | (175 | ) | $ | 1,403 |
A summary of the reclassifications out of accumulated other comprehensive loss is provided as follows:
| 2016 | 2015 | 2014 | Consolidated Statements of Income Classification
Net gains (losses) on cash flow hedging derivative instruments, before tax: | $ | 18 |  | $ | 12 |  | $ | 15 |  | See (1) below
Tax benefit | (7 | ) | (5 | ) | (6 | ) | See (2) below
After-tax | $ | 11 |  | $ | 7 |  | $ | 9 |  |
Amortization of pension benefit plans: |  |  |  |
Prior service (benefit) cost | (6 | ) | (9 | ) | 2 |  | See (3) below
Actuarial losses | 822 |  | 768 |  | 601 |  | See (3) below
Curtailment loss (gain) | 40 |  | (6 | ) | 4 |  | See (3) below
Settlement loss | 62 |  | 76 |  | 7 |  | See (3) below
Total before tax | $ | 918 |  | $ | 829 |  | $ | 614 |  |
Tax benefit | (324 | ) | (294 | ) | (213 | ) | See (2) below
After-tax | $ | 594 |  | $ | 535 |  | $ | 401 |  |
Amortization of other benefit plans: |  |  |  |
Prior service benefit | (134 | ) | (182 | ) | (214 | ) | See (3) below
Actuarial losses | 78 |  | 78 |  | 57 |  | See (3) below
Curtailment gain | (392 | ) | (274 | ) | — |  | See (3) below
Total before tax | $ | (448 | ) | $ | (378 | ) | $ | (157 | ) |
Tax expense | 150 |  | 135 |  | 56 |  | See (2) below
After-tax | $ | (298 | ) | $ | (243 | ) | $ | (101 | ) |
Net realized gains (losses) on investments, before tax: | 28 |  | (2 | ) | — |  | See (4) below
Tax expense | — |  | — |  | — |  | See (2) below
After-tax | $ | 28 |  | $ | (2 | ) | $ | — |  |
Total reclassifications for the period, after-tax | $ | 335 |  | $ | 297 |  | $ | 309 |  |
1. | Net sales and cost of goods sold
2. | Provision for income taxes from continuing operations
3. | These accumulated other comprehensive loss components are included in the computation of net periodic benefit cost of the company's pension and other benefit plans. See Note 17 for additional information.
4. | Other income, net
The tax benefit (expense) recorded in Stockholders' Equity was $33, $(138) and $1,461 for the years 2016, 2015 and 2014, respectively. Included in these amounts were tax benefits of $21, $37 and $58 for the years 2016, 2015 and 2014, respectively, associated with stock compensation programs. The remainder consists of amounts recorded within other comprehensive loss as shown in the table above.

X
- References No definition available. + Details
Name: | us-gaap_StockholdersEquityNoteAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section S99 -Paragraph 4 -Subparagraph (SAB Topic 4.E) -URI http://asc.fasb.org/extlink&oid=27010918&loc=d3e74567-122707 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644 Reference 3: 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)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644 Reference 5: 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(e)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 6: 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(31)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 7: 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=27012166&loc=d3e187143-122770 Reference 8: 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(30)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 9: 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 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)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770 Reference 12: 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 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 14: 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 15: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644 Reference 16: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644 + Details
Name: | us-gaap_StockholdersEquityNoteDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration