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Stockholders' Equity
 6 Months Ended
Jun. 30, 2014
Stockholders' Equity Note [Abstract]  
Stockholders' Equity
Stockholders’ Equity 
Share Repurchase Program
In January 2014, the company's Board of Directors authorized a $5,000 share buyback plan that replaced the 2011 plan. There is no required completion date for purchases under the 2014 plan. In February 2014, the company entered into an accelerated share repurchase ("ASR") agreement with a financial institution. Under the terms of the ASR agreement, the company paid $1,000 to the financial institution and received and retired 15.1 million shares. The ASR was completed in the second quarter 2014. During the three and six months ended June 30, 2014, the company repurchased 0.5 million shares and 1.5 million shares in the open market for a total cost of $35 and $97, respectively. These shares were retired upon receipt.

In December 2012, the company's Board of Directors authorized a $1,000 share buyback plan. In February 2013, the company entered into an ASR agreement with a financial institution under which the company used $1,000 of the proceeds from the sale of Performance Coatings for the purchase of shares of common stock. The 2012 $1,000 share buyback plan was completed in the second quarter 2013 through the ASR agreement, under which the company purchased and retired 20.4 million shares.

Other Comprehensive (Loss) Income
A summary of the changes in other comprehensive (loss) income for the three and six months ended June 30, 2014 and 2013 is provided as follows:
 
Three Months Ended
Three Months Ended
Affected Line Item in Consolidated Income Statements1
 
June 30, 2014
June 30, 2013
 
Pre-Tax
Tax
After-Tax
Pre-Tax
Tax
After-Tax
 
Cumulative translation adjustment
$
(59
)
$
—

$
(59
)
$
(14
)
$
—

$
(14
)
 
Net revaluation and clearance of cash flow hedges to earnings:
 
 
 
 
 
 
 
Additions and revaluations of derivatives designated as cash flow hedges
(12
)
4

(8
)
(8
)
2

(6
)
See (2) below
Clearance of hedge results to earnings:
 
 
 
 
 
 
 
Foreign currency contracts
1

(1
)
—

(7
)
3

(4
)
Net sales
Commodity contracts
12

(4
)
8

(11
)
4

(7
)
Cost of goods sold
Net revaluation and clearance of cash flow hedges to earnings
1

(1
)
—

(26
)
9

(17
)
 
Pension benefit plans:
 
 
 
 
 
 
 
Net loss
(103
)
33

(70
)
—

—

—

See (2) below
Reclassifications to net income:
 
 
 
 
 
 
 
Amortization of prior service cost
—

—

—

3

(1
)
2

See (3) below
Amortization of loss
150

(52
)
98

239

(82
)
157

See (3) below
Curtailment loss
4

(1
)
3

—

—

—

See (3) below
Settlement loss
2

—

2

—

—

—

See (3) below
Pension benefit plans, net
53

(20
)
33

242

(83
)
159

 
Other benefit plans:
 
 
 
 
 
 
 
Net gain
—

—

—

28

(9
)
19

See (2) below
Reclassifications to net income:
 
 
 
 
 
 
 
Amortization of prior service benefit
(53
)
19

(34
)
(46
)
17

(29
)
See (3) below
Amortization of loss (gain)
14

(5
)
9

(2
)
—

(2
)
See (3) below
Other benefit plans, net
(39
)
14

(25
)
(20
)
8

(12
)
 
Net unrealized gain on securities
—

—

—

3

(1
)
2

 
Other comprehensive (loss) income
$
(44
)
$
(7
)
$
(51
)
$
185

$
(67
)
$
118

 


 
Six Months Ended
Six Months Ended
Affected Line Item in Consolidated Income Statements1
 
June 30, 2014
June 30, 2013
 
Pre-Tax
Tax
After-Tax
Pre-Tax
Tax
After-Tax
 
Cumulative translation adjustment
$
(131
)
$
—

$
(131
)
$
(223
)
$
—

$
(223
)
 
Net revaluation and clearance of cash flow hedges to earnings:
 
 
 
 
 
 
 
Additions and revaluations of derivatives designated as cash flow hedges
26

(10
)
16

(24
)
9

(15
)
See (2) below
Clearance of hedge results to earnings:
 
 
 
 
 
 
 
Foreign currency contracts
2

(1
)
1

(3
)
1

(2
)
Net sales
Commodity contracts
29

(11
)
18

(25
)
10

(15
)
Cost of goods sold
Net revaluation and clearance of cash flow hedges to earnings
57

(22
)
35

(52
)
20

(32
)
 
Pension benefit plans:
 
 
 
 
 
 
 
Net (loss) gain
(102
)
33

(69
)
56

(14
)
42

See (2) below
Reclassifications to net income:
 
 
 
 
 
 
 
Amortization of prior service cost
1

—

1

6

(2
)
4

See (3) below
Amortization of loss
299

(103
)
196

480

(164
)
316

See (3) below
Curtailment loss
4

(1
)
3

1

—

1

See (3) below
Settlement loss
2

—

2

152

(45
)
107

See (3) below
Pension benefit plans, net
204

(71
)
133

695

(225
)
470

 
Other benefit plans:
 
 
 
 
 
 
 
Net gain
—

—

—

45

(15
)
30

See (2) below
Reclassifications to net income:
 
 
 
 
 
 
 
Amortization of prior service benefit
(106
)
38

(68
)
(94
)
34

(60
)
See (3) below
Amortization of loss
28

(9
)
19

25

(9
)
16

See (3) below
Curtailment gain
—

—

—

(154
)
54

(100
)
See (3) below
Settlement loss
—

—

—

1

—

1

See (3) below
Other benefit plans, net
(78
)
29

(49
)
(177
)
64

(113
)
 
Net unrealized gain on securities
—

—

—

1

(1
)
—

 
Other comprehensive income (loss)
$
52

$
(64
)
$
(12
)
$
244

$
(142
)
$
102

 


1 
Represents the income statement line item within the interim Consolidated Income Statement affected by the pre-tax reclassification out of other comprehensive income (loss).
2 
These amounts represent changes in accumulated other comprehensive income excluding changes due to reclassifying amounts to the interim Consolidated Income Statements.
3 
These accumulated other comprehensive income components are included in the computation of net periodic benefit cost of the company's pension and other long-term employee benefit plans. See Note 12 for additional information.



The changes and after-tax balances of components comprising accumulated other comprehensive loss are summarized below:
 
Cumulative Translation Adjustment
Net Revaluation and Clearance of Cash Flow Hedges to Earnings
Pension Benefit Plans
Other Benefit Plans
Unrealized Gain on Securities
Total
2014
 

 

 

 

 

 

Balance January 1, 2014
$
(140
)
$
(48
)
$
(5,749
)
$
494

$
2

$
(5,441
)
Other comprehensive (loss) income before reclassifications
(131
)
16

(69
)
—

—

(184
)
Amounts reclassified from accumulated other comprehensive loss
—

19

202

(49
)
—

172

Balance June 30, 2014
$
(271
)
$
(13
)
$
(5,616
)
$
445

$
2

$
(5,453
)

 
Cumulative Translation Adjustment
Net Revaluation and Clearance of Cash Flow Hedges to Earnings
Pension Benefit Plans
Other Benefit Plans
Unrealized Gain on Securities
Total
2013
 

 

 

 

 

 

Balance January 1, 2013
$
(167
)
$
3

$
(8,686
)
$
202

$
2

$
(8,646
)
Other comprehensive (loss) income before reclassifications
(223
)
(15
)
42

30

1

(165
)
Amounts reclassified from accumulated other comprehensive loss
—

(17
)
428

(143
)
(1
)
267

Balance June 30, 2013
$
(390
)
$
(29
)
$
(8,216
)
$
89

$
2

$
(8,544
)