Accumulated Other Comprehensive Loss and Shareholders' Equity |
ACCUMULATED OTHER COMPREHENSIVE LOSS AND SHAREHOLDERS’ EQUITY The following tables detail the accumulated other comprehensive loss activity for the 2019 first half and 2018 first half: | | | | | | | | | | | | | ($ in millions) | Foreign Currency Translation Adjustments | | Derivative Instrument and Other Adjustments | | Accumulated Other Comprehensive Loss | Balance at year-end 2018 | $ | (403 | ) | | $ | 12 |
| | $ | (391 | ) | Other comprehensive income (loss) before reclassifications (1) | 71 |
| | (2 | ) | | 69 |
| Reclassification of income | — |
| | (4 | ) | | (4 | ) | Net other comprehensive income (loss) | 71 |
| | (6 | ) | | 65 |
| Balance at June 30, 2019 | $ | (332 | ) | | $ | 6 |
| | $ | (326 | ) |
| | | | | | | | | | | | | ($ in millions) | Foreign Currency Translation Adjustments | | Derivative Instrument and Other Adjustments | | Accumulated Other Comprehensive Loss | Balance at year-end 2017 | $ | (23 | ) | | $ | 6 |
| | $ | (17 | ) | Other comprehensive income (loss) before reclassifications (1) | (247 | ) | | 8 |
| | (239 | ) | Reclassification of losses | 8 |
| | 8 |
| | 16 |
| Net other comprehensive income | (239 | ) | | 16 |
| | (223 | ) | Adoption of ASU 2016-01 | — |
| | (4 | ) | | (4 | ) | Balance at June 30, 2018 | $ | (262 | ) | | $ | 18 |
| | $ | (244 | ) |
| | (1) | Other comprehensive (loss) income before reclassifications for foreign currency translation adjustments includes intra-entity foreign currency transactions that are of a long-term investment nature, which resulted in gains of $2 million for the 2019 first half and $38 million for the 2018 first half. |
The following tables detail the changes in common shares outstanding and shareholders’ equity for the 2019 first half and 2018 first half: | | | | | | | | | | | | | | | | | | | | | | | | | | | | (in millions, except per share amounts) | | | Common Shares Outstanding | | | Total | | Class A Common Stock | | Additional Paid-in- Capital | | Retained Earnings | | Treasury Stock, at Cost | | Accumulated Other Comprehensive Loss | 339.1 |
| | Balance at year-end 2018 | $ | 2,225 |
| | $ | 5 |
| | $ | 5,814 |
| | $ | 8,982 |
| | $ | (12,185 | ) | | $ | (391 | ) | — |
| | Adoption of ASU 2016-02 | 1 |
| | — |
| | — |
| | 1 |
| | — |
| | — |
| — |
| | Net income | 375 |
| | — |
| | — |
| | 375 |
| | — |
| | — |
| — |
| | Other comprehensive income | 31 |
| | — |
| | — |
| | — |
| | — |
| | 31 |
| — |
| | Dividends ($0.41 per share) | (139 | ) | | — |
| | — |
| | (139 | ) | | — |
| | — |
| 1.7 |
| | Share-based compensation plans | (62 | ) | | — |
| | (108 | ) | | — |
| | 46 |
| | — |
| (6.7 | ) | | Purchase of treasury stock | (828 | ) | | — |
| | — |
| | — |
| | (828 | ) | | — |
| 334.1 |
| | Balance at March 31, 2019 | 1,603 |
| | 5 |
| | 5,706 |
| | 9,219 |
| | (12,967 | ) | | (360 | ) | — |
| | Net income | 232 |
| | — |
| | — |
| | 232 |
| | — |
| | — |
| — |
| | Other comprehensive income | 34 |
| | — |
| | — |
| | — |
| | — |
| | 34 |
| — |
| | Dividends ($0.48 per share) | (159 | ) | | — |
| | — |
| | (159 | ) | | — |
| | — |
| 0.2 |
| | Share-based compensation plans | 30 |
| | — |
| | 23 |
| | — |
| | 7 |
| | — |
| (3.7 | ) | | Purchase of treasury stock (1) | (500 | ) | | — |
| | — |
| | — |
| | (500 | ) | | — |
| 330.6 |
| | Balance at June 30, 2019 | $ | 1,240 |
| | $ | 5 |
| | $ | 5,729 |
| | $ | 9,292 |
| | $ | (13,460 | ) | | $ | (326 | ) |
| | (1) | At the end of the 2019 second quarter, we made purchases of shares of our common stock totaling $100 million, which settled in cash in the 2019 third quarter. |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | (in millions, except per share amounts) | | | Common Shares Outstanding | | | Total | | Class A Common Stock | | Additional Paid-in- Capital | | Retained Earnings | | Treasury Stock, at Cost | | Accumulated Other Comprehensive Loss | 359.1 |
| | Balance at year-end 2017 (as previously reported) | $ | 3,731 |
| | $ | 5 |
| | $ | 5,770 |
| | $ | 7,391 |
| | $ | (9,418 | ) | | $ | (17 | ) | — |
| | Adoption of ASU 2014-09 | (149 | ) | | — |
| | — |
| | (149 | ) | | — |
| | — |
| 359.1 |
| | Balance at year-end 2017 (as adjusted) | 3,582 |
| | 5 |
| | 5,770 |
| | 7,242 |
| | (9,418 | ) | | (17 | ) | — |
| | Adoption of ASU 2016-01 | — |
| | — |
| | — |
| | 4 |
| | — |
| | (4 | ) | — |
| | Adoption of ASU 2016-16 | 372 |
| | — |
| | — |
| | 372 |
| | — |
| | — |
| — |
| | Net income | 420 |
| | — |
| | — |
| | 420 |
| | — |
| | — |
| — |
| | Other comprehensive income | 162 |
| | — |
| | — |
| | — |
| | — |
| | 162 |
| — |
| | Dividends ($0.33 per share) | (118 | ) | | — |
| | — |
| | (118 | ) | | — |
| | — |
| 1.3 |
| | Share-based compensation plans | (48 | ) | | — |
| | (85 | ) | | — |
| | 37 |
| | — |
| (5.6 | ) | | Purchase of treasury stock | (782 | ) | | — |
| | — |
| | — |
| | (782 | ) | | — |
| 354.8 |
| | Balance at March 31, 2018 | 3,588 |
| | 5 |
| | 5,685 |
| | 7,920 |
| | (10,163 | ) | | 141 |
| — |
| | Net income | 667 |
| | — |
| | — |
| | 667 |
| | — |
| | — |
| — |
| | Other comprehensive income | (385 | ) | | — |
| | — |
| | — |
| | — |
| | (385 | ) | — |
| | Dividends ($0.41 per share) | (145 | ) | | — |
| | — |
| | (145 | ) | | — |
| | — |
| 0.1 |
| | Share-based compensation plans | 45 |
| | — |
| | 43 |
| | — |
| | 2 |
| | — |
| (6.2 | ) | | Purchase of treasury stock | (850 | ) | | — |
| | — |
| | — |
| | (850 | ) | | — |
| 348.7 |
| | Balance at June 30, 2018 | $ | 2,920 |
| | $ | 5 |
| | $ | 5,728 |
| | $ | 8,442 |
| | $ | (11,011 | ) | | $ | (244 | ) |
|