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Stockholders' Equity
 3 Months Ended
Mar. 31, 2014
Equity [Abstract]  
Stockholders' Equity
Stockholders’ Equity

Preferred stock — Dividends on our 4.0% Series B Convertible Preferred Stock accrue daily and are payable in cash as approved by the Board of Directors. Our 4.0% Series A Convertible Preferred Stock ceased accruing dividends as a result of redemption in August 2013. Preferred dividends of $2 and $4 were accrued at March 31, 2014 and December 31, 2013.

During the first quarter of 2014, holders of 1,702,390 shares of Series B preferred stock elected to convert those preferred shares into common stock and received 14,481,721 shares. The common stock issued included shares to satisfy the accrued dividends owed to the converting preferred stockholders. Based on the market price of Dana common stock on the date of conversion, the fair value of the conversions totaled $298.

Common stock — Our Board of Directors declared a quarterly cash dividend of five cents per share of common stock in the first quarter of 2014. Common stock dividends of $7 were accrued at March 31, 2014. Dividends accrue on restricted stock units (RSUs) granted under our stock compensation program and will be paid in cash or additional units when the underlying units vest.

Share repurchase program — Our Board of Directors approved a share repurchase program of up to $1,000 of our outstanding shares of common stock over a two-year period from June 28, 2013. Under the program, we spent $64 to repurchase 3,109,500 shares of our common stock during the first quarter of 2014 through open market transactions. Approximately $107 remained available under the program for future share repurchases as of March 31, 2014.

Changes in equity —
 
 
2014
 
2013
Three Months Ended March 31,
 
Attributable to Parent
 
Attributable
to Non-
controlling Interests
 
Total
Equity
 
Attributable to Parent
 
Attributable
to Non-
controlling Interests
 
Total
Equity
Balance, December 31
 
$
1,309

 
$
104

 
$
1,413

 
$
1,836

 
$
112

 
$
1,948

Total comprehensive income
 
29

 
2

 
31

 
37

 
6

 
43

Preferred stock dividends
 
(3
)
 


 
(3
)
 
(8
)
 


 
(8
)
Common stock dividends
 
(7
)
 


 
(7
)
 
(8
)
 


 
(8
)
Distributions to noncontrolling interests
 


 
(1
)
 
(1
)
 


 
(1
)
 
(1
)
Share conversion
 
3

 
 
 
3

 
 
 
 
 
—

Common stock share repurchases
 
(64
)
 


 
(64
)
 
(24
)
 


 
(24
)
Adjustments to paid-in capital for purchase of noncontrolling interests
 


 


 
—

 
6

 


 
6

Adjustments to other comprehensive income for purchase of noncontrolling interests
 


 


 
—

 
(3
)
 


 
(3
)
Purchase of noncontrolling interests
 


 


 
—

 


 
(9
)
 
(9
)
Stock compensation
 
6

 


 
6

 
6

 


 
6

Stock withheld for employee taxes
 
(1
)
 


 
(1
)
 
(2
)
 


 
(2
)
Balance, March 31
 
$
1,272

 
$
105

 
$
1,377

 
$
1,840

 
$
108

 
$
1,948



Changes in each component of AOCI of the parent —
 
 
 
 
 
 
 
 
 
 
 
Parent Company Stockholders
 
Foreign Currency Translation
 
Hedging
 
Investments
 
Defined Benefit Plans
 
Accumulated Other Comprehensive Income (Loss)
Balance, December 31, 2013
$
(242
)
 
$
—

 
$
3

 
$
(488
)
 
$
(727
)
Other comprehensive income (loss):
 
 
 
 
 
 
 
 
 
Currency translation adjustments
(12
)
 

 

 

 
(12
)
Holding gains

 

 
2

 

 
2

Reclassification of amount to net income (a)

 

 
(2
)
 

 
(2
)
Venezuelan bolivar devaluation
 
 
 
 
 
 
3

 
3

Amortization of net actuarial losses included in net periodic benefit cost (b)

 

 

 
5

 
5

Tax expense

 

 

 
(1
)
 
(1
)
Other comprehensive income (loss)
(12
)
 
—

 
—

 
7

 
(5
)
Balance, March 31, 2014
$
(254
)
 
$
—

 
$
3

 
$
(481
)
 
$
(732
)
 
 
 
 
 
 
 
 
 
 
Balance, December 31, 2012
$
(198
)
 
$
3

 
$
12

 
$
(610
)
 
$
(793
)
Other comprehensive income (loss):
 
 
 
 
 
 
 
 
 
Currency translation adjustments
(17
)
 

 

 

 
(17
)
Holding gains

 
5

 
1

 

 
6

Reclassification of amount to net income (a)

 
(2
)
 

 

 
(2
)
Venezuelan bolivar devaluation
 
 
 
 
 
 
2

 
2

Amortization of net actuarial losses included in net periodic benefit cost (b)

 

 

 
6

 
6

Other comprehensive income (loss)
(17
)
 
3

 
1

 
8

 
(5
)
Adjustment for purchase of noncontrolling interests
(4
)
 
1

 
 
 
 
 
(3
)
Balance, March 31, 2013
$
(219
)
 
$
7

 
$
13

 
$
(602
)
 
$
(801
)
(a) Foreign currency contract and investment reclassifications are included in other income (expense), net.
(b) See Note 9 for additional details.

During the first quarter of 2013, Dana purchased the noncontrolling interests in three of its subsidiaries for $7. Dana maintained its controlling financial interest in each of the subsidiaries and accounted for the purchases as equity transactions. The difference between the fair value of the consideration paid and the carrying value of the noncontrolling interests was recognized as additional paid-in capital of the parent company. At the time of the purchases the subsidiaries had accumulated other comprehensive income. Accumulated other comprehensive income of the parent company has been adjusted to reflect the ownership interest change with a corresponding offset to additional paid-in capital of the parent company.