Stockholders' Equity

Preferred Stock

We are authorized to issue 50,000,000 of Dana preferred stock, par value $0.01 per share. There were no preferred shares outstanding at December 31, 2017 or 2016.

Common Stock

We are authorized to issue 450,000,000 shares of Dana common stock, par value $0.01 per share. At December 31, 2017, there were 151,985,067 shares of our common stock issued and 144,984,050 shares outstanding, net of 7,001,017 in treasury shares. Treasury shares include those shares withheld at cost to satisfy tax obligations from stock awards issued under our stock compensation plan in addition to share repurchases noted below.

Our Board of Directors declared a quarterly cash dividend of six cents per share of common stock in each quarter of 2017. Aggregate 2017 declared and paid dividends total $35. 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.

Treasury stock — In December 2015, we retired 18,100,000 shares of treasury stock. The $346 excess of the cost of the treasury stock over the common stock par value, based on the weighted-average pool price of our treasury shares at the date of retirement, was charged to additional paid-in capital.

Share repurchase program — Our Board of Directors approved a common stock share repurchase program up to $1,700 on January 11, 2016. The program expired on December 31, 2017. In December 2017, our Board of Directors approved a new common stock share repurchase program up to $100, expiring on December 31, 2019. The stock repurchases are subject to prevailing market conditions and other management considerations.

Changes in each component of AOCI of the parent —



	Parent Company Stockholders
	Foreign Currency Translation			Hedging			Investments			Defined Benefit Plans			Accumulated Other Comprehensive Loss
Balance, December 31, 2014	$	(427	)	$	(9	)	$	5		$	(566	)	$	(997	)
Other comprehensive income (loss):
Currency translation adjustments	(179		)										(179		)
Holding loss on net investment hedge	(2		)										(2		)
Holding gains and losses				(14		)	(3		)				(17		)
Reclassification of amount to net income (a)				20									20
Net actuarial losses										(28		)	(28		)
Reclassification adjustment for net actuarial losses included in net periodic benefit cost (b)										25			25
Elimination of net prior service cost and actuarial losses of disposal group										10			10
Tax expense				(1		)				(5		)	(6		)
Other comprehensive income (loss)	(181		)	5			(3		)	2			(177		)
Balance, December 31, 2015	(608		)	(4		)	2			(564		)	(1,174		)
Other comprehensive income (loss):
Currency translation adjustments	(43		)										(43		)
Holding gains and losses				(16		)	3						(13		)
Reclassification of amount to net income (a)				(14		)	(7		)				(21		)
Net actuarial losses										(88		)	(88		)
Reclassification adjustment for net actuarial losses included in net periodic benefit cost (b)										26			26
Elimination due to sale of subsidiary	2						2			1			5
Tax benefit	3									21			24
Other comprehensive loss	(38		)	(30		)	(2		)	(40		)	(110		)
Balance, December 31, 2016	(646		)	(34		)	—			(604		)	(1,284		)
Other comprehensive income (loss):
Currency translation adjustments	(22		)										(22		)
Holding loss on net investment hedge	(2		)										(2		)
Holding gains and losses				(162		)	1						(161		)
Reclassification of amount to net income (a)				128									128
Net actuarial losses										(28		)	(28		)
Curtailment gain										1			1
Reclassification adjustment for net actuarial losses included in net periodic benefit cost (b)										30			30
Tax (expense) benefit				4			1			(9		)	(4		)
Other comprehensive income (loss)	(24		)	(30		)	2			(6		)	(58		)
Balance, December 31, 2017	$	(670	)	$	(64	)	$	2		$	(610	)	$	(1,342	)

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Notes:

(a) Foreign currency contract and investment reclassifications are included in other income (expense), net.

(b) See Note 12 for additional details.