Shareholders' Equity |
Shareholders’ Equity On December 17, 2018, the Board approved a new repurchase plan for up to $20,000 of common stock, replacing the previously authorized program. The program will expire when we have used all authorized funds or is otherwise terminated. As of December 31, 2018 and 2017, there were 1,200,000,000 shares of common stock and 20,000,000 shares of preferred stock authorized. No preferred stock has been issued. Changes in Share Balances The following table shows changes in each class of shares: | | | | | | | | Common Stock |
| | Treasury Stock |
| Balance at January 1, 2016 | 1,012,261,159 |
| | 345,637,354 |
| Issued | | | (6,376,868 | ) | Acquired | | | 55,849,082 |
| Balance at December 31, 2016 | 1,012,261,159 |
| | 395,109,568 |
| Issued | | | (20,746,426 | ) | Acquired | | | 46,859,184 |
| Balance at December 31, 2017 | 1,012,261,159 |
| | 421,222,326 |
| Issued | | | (3,409,330 | ) | Acquired | | | 26,806,974 |
| Balance at December 31, 2018 | 1,012,261,159 |
| | 444,619,970 |
|
Accumulated Other Comprehensive Loss Changes in Accumulated other comprehensive loss (AOCI) by component for the years ended December 31, 2018, 2017 and 2016 were as follows: | | | | | | | | | | | | | | | | | | | | | | Currency Translation Adjustments |
| | Unrealized Gains and Losses on Certain Investments |
| | Unrealized Gains and Losses on Derivative Instruments |
| | Defined Benefit Pension Plans & Other Postretirement Benefits |
| | Total (1) |
| Balance at January 1, 2016 |
| ($39 | ) | |
| $— |
| |
| ($197 | ) | |
| ($12,512 | ) | |
| ($12,748 | ) | Other comprehensive (loss)/income before reclassifications | (104 | ) | | (2 | ) | | (8 | ) | | (1,320 | ) | | (1,434 | ) | Amounts reclassified from AOCI |
| |
| | 78 |
| | 481 |
| (2) | 559 |
| Net current period Other comprehensive (loss)/income | (104 | ) | | (2 | ) | | 70 |
| | (839 | ) | | (875 | ) | Balance at December 31, 2016 |
| ($143 | ) | |
| ($2 | ) | |
| ($127 | ) | |
| ($13,351 | ) | |
| ($13,623 | ) | Other comprehensive income/(loss) before reclassifications | 128 |
| | 1 |
| | 119 |
| | (478 | ) | | (230 | ) | Amounts reclassified from AOCI |
| |
| | 52 |
| | 425 |
| (2) | 477 |
| Net current period Other comprehensive income/(loss) | 128 |
| | 1 |
| | 171 |
| | (53 | ) | | 247 |
| Impact of ASU 2018-02
| | |
| ($1 | ) | |
| $10 |
| |
| ($3,006 | ) | |
| ($2,997 | ) | Balance at December 31, 2017 |
| ($15 | ) | |
| ($2 | ) | |
| $54 |
| |
| ($16,410 | ) | |
| ($16,373 | ) | Other comprehensive (loss)/income before reclassifications | (86 | ) | | 2 |
| | (146 | ) | | 747 |
| | 517 |
| Amounts reclassified from AOCI |
|
| |
|
| | 30 |
| | 743 |
| (2) | 773 |
| Net current period Other comprehensive (loss)/income | (86 | ) | | 2 |
| | (116 | ) | | 1,490 |
| | 1,290 |
| Balance at December 31, 2018 |
| ($101 | ) | |
| $— |
| |
| ($62 | ) | |
| ($14,920 | ) | |
| ($15,083 | ) |
(2) Primarily relates to amortization of actuarial losses for the years ended December 31, 2018, 2017, and 2016 totaling $878, $542, and $524 (net of tax of ($242), ($272), and ($288)), respectively. These are included in the net periodic pension cost. See Note 17.
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