Shareholders' Equity

12 Months Ended

Dec. 31, 2011

Shareholders' Equity [Abstract]

Shareholders' Equity

17.      Shareholders' Equity

The following table presents changes in capital stock for the period from January 1, 2009 to December 31, 2011 (in millions):

	Common stock			Treasury stock
	Shares	Par value		Shares	Cost
Balance at December 31, 2008	1,609	$	804	(62)	$	(1,160)
Shares issued to benefit plans and for option exercises	7		4	(1)		(36)
Other				(1)		(11)
Balance at December 31, 2009	1,616	$	808	(64)	$	(1,207)
Shares issued to benefit plans and for option exercises	10		5
Other				(1)		(20)
Balance at December 31, 2010	1,626	$	813	(65)	$	(1,227)
Shares issued to benefit plans and for option exercises	10		5			(7)
Shares purchased for treasury				(55)		(779)
Other				(1)		(11)
Balance at December 31, 2011	1,636	$	818	(121)	$	(2,024)

Accumulated Other Comprehensive Income (Loss)

A summary of the components of other comprehensive income (loss), including our proportionate share of equity method investee's other comprehensive income (loss), is as follows (in millions):

	Foreign currency translation adjustment and other		Unamortized pension losses and prior services costs		Net unrealized gains (losses) on investments		Net unrealized gains (losses) on designated hedges		Accumulated other comprehensive income (loss)
Balance at December 31, 2008	$	642	$	(1,155)	$	(92)	$	(38)	$	(643)
Foreign currency translation adjustment and other (1)(2)		166								166
Net unrealized gain on investments (1)(3)						53				53
Net unrealized gain on designated hedges (1)(5)								39		39
Net change in unrecognized postretirement benefit plans (1)(4)				(16)						(16)
Balance at December 31, 2009	$	808	$	(1,171)	$	(39)	$	1	$	(401)
Foreign currency translation adjustment and other (1)(2)		566								566
Net unrealized gain on investments (1)(3)						6				6
Net unrealized loss on designated hedges (1)(5)								(24)		(24)
Net change in unrecognized postretirement benefit plans (1)(4)				(104)						(104)
Balance at December 31, 2010	$	1,374	$	(1,275)	$	(33)	$	(23)	$	43
Foreign currency translation adjustment and other (1)		(21)								(21)
Net unrealized gain on investments (1)						4				4
Net unrealized loss on designated hedges (1)(5)								(6)		(6)
Net change in unrecognized postretirement benefit plans (1)(4)				(109)						(109)
Balance at December 31, 2011	$	1,353	$	(1,384)	$	(29)	$	(29)	$	(89)

(1) Includes adjustments from Dow Corning.

(2) Net of tax effect of $(1) million in 2010 and $0.3 million in 2009.  Refer to Note 6 (Income Taxes) to the Consolidated Financial Statements for an explanation of Corning's tax paying position.

(3) Net of tax effect of $(5) million in 2010 and $(18) million in 2009.

(4) Net of tax effect of $73 million in 2011, $55 million in 2010 and $(7) million in 2009.

(5) Net of tax effect of $3 million in 2011, $14 million in 2010 and $(19) million in 2009.