Stockholders' Equity

3 Months Ended

Mar. 31, 2016

Equity [Abstract]

Stockholders' Equity

Note 14. Stockholders’ Equity

The following tables represent changes in stockholders’ equity that are attributable to our stockholders and non-controlling interests for the three months ended March 31, 2016 (in millions):

				Equity Attributable to Starwood Stockholders
								Accumulated						Equity
						Additional		Other						Attributable to
				Common		Paid-in		Comprehensive			Retained			Noncontrolling
	Total			Shares		Capital		Loss			Earnings			Interests
Balance at December 31, 2015	$	1,299		$	2	$	115	$	(668	)	$	1,847		$	3
Net income		90			—		—		—			90			—
Equity compensation activity and other		(2	)		—		—		—			(2	)		—
Dividends		(63	)		—		—		—			(63	)		—
Share repurchases		—			—		—		—			—			—
Other comprehensive income		23			—		—		23						—
Balance at March 31, 2016	$	1,347		$	2	$	115	$	(645	)	$	1,872		$	3

Share Issuances and Repurchases. During the three months ended March 31, 2016, we issued less than 0.1 million of our common shares as a result of stock option exercises.

During the three months ended March 31, 2016, we did not repurchase any common shares. As of March 31, 2016, $458 million remained available under the share repurchase authorization approved by our Board of Directors. Under the terms of our merger agreement with Marriott, we are precluded from repurchasing our stock without their consent.

Dividends. In the first quarter of 2016, we declared and paid approximately $63 million of dividends, or $0.375 per share, to stockholders of record as of March 14, 2016.

Accumulated Other Comprehensive Loss. The following table presents the changes in accumulated other comprehensive loss by component for the three months ended March 31, 2016 (in millions):

	For the Three Months Ended March 31, 2016 (a)
							Defined Benefit			Foreign
				Net			Pension and			Currency
	Cash Flow			Investment			Postretirement			Translation
	Hedges (b)			Hedges			Benefit Plans (c)			Adjustments (d)			Total
Balance at December 31, 2015	$	1		$	—		$	(79	)	$	(590	)	$	(668	)
Other comprehensive income (loss) before    reclassifications		(2	)		—			—			25			23
Amounts reclassified from accumulated other    comprehensive income (loss)		—			(2	)		1			—			(1	)
Total before tax		(2	)		(2	)		1			25			22
Tax benefit (expense)		—			1			—			—			1
Net current year other comprehensive income (loss)		(2	)		(1	)		1			25			23
Balance at March 31, 2016	$	(1	)	$	(1	)	$	(78	)	$	(565	)	$	(645	)

(a) Amounts in parentheses indicate debits.

(b) Pretax gains and losses on forward contract cash flow hedges are reclassified to management fees, franchise fees and other income.

(c) Pretax amortization of defined benefit pension and postretirement benefit plans is reclassified to selling, general, administrative and other.

(d) Losses of $21 million related to intra-entity foreign currency transactions that are of a long-term investment nature are included in other comprehensive loss in the three months ended March 31, 2016.