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Shareholders' Equity
 12 Months Ended
Dec. 31, 2018
Stockholders' Equity Note [Abstract]  
Shareholders' Equity
SHAREHOLDERS’ EQUITY
Authorized Stock. Our authorized capital stock consists of 500 million shares of $1 per share par value common stock and 50 million shares of $1 per share par value preferred stock. The preferred stock is issuable in series, with the rights, preferences and limitations of each series to be determined by our board of directors.
Shares Issued and Outstanding. On December 31, 2018, we had 481,880,634 shares of common stock issued and 288,698,149 shares of common stock outstanding, including unvested restricted stock of 686,921 shares. On December 31, 2017, we had 481,880,634 shares of common stock issued and 296,895,608 shares of common stock outstanding. No shares of our preferred stock were outstanding on either date. The only changes in our shares outstanding during 2018 and 2017 resulted from shares repurchased in the open market and share activity under our equity compensation plans. See Note P for additional details.
Share Repurchases. Our board of directors from time to time authorizes management’s repurchase of outstanding shares of our common stock on the open market. On December 5, 2018, the board of directors authorized management to repurchase up to 10 million additional shares of the company’s outstanding stock. In 2018, we repurchased 10.1 million of our outstanding shares for $1.8 billion. On December 31, 2018, 7.5 million shares remained authorized by our board of directors for repurchase, approximately 3% of our total shares outstanding. We repurchased 7.8 million shares for $1.5 billion in 2017 and 14.2 million shares for $2 billion in 2016.
Dividends per Share. Our board of directors declared dividends per share of $3.72 in 2018, $3.36 in 2017 and $3.04 in 2016. We paid cash dividends of $1.1 billion in 2018, $986 in 2017 and $911 in 2016.
Accumulated Other Comprehensive Loss. The changes, pretax and net of tax, in each component of AOCL consisted of the following:
 
Losses on Cash Flow Hedges
Unrealized Gains on Marketable Securities
Foreign Currency Translation Adjustments
Changes in Retirement Plans’ Funded Status
AOCL
December 31, 2015
$
(487
)
$
20

$
181

$
(2,997
)
$
(3,283
)
Other comprehensive loss, pretax
191

(9
)
(112
)
(192
)
(122
)
Benefit from income tax, net
(49
)
3

—

64

18

Other comprehensive loss, net of tax
142

(6
)
(112
)
(128
)
(104
)
December 31, 2016
(345
)
14

69

(3,125
)
(3,387
)
Other comprehensive income, pretax
341

9

348

20

718

Provision for income tax, net
(90
)
(4
)
(15
)
(42
)
(151
)
Other comprehensive income, net of tax
251

5

333

(22
)
567

December 31, 2017
(94
)
19

402

(3,147
)
(2,820
)
Cumulative effect adjustments (see Note A)
(4
)
(19
)
—

(615
)
(638
)
Other comprehensive loss, pretax
36

—

(300
)
(61
)
(325
)
Benefit from income tax, net
(9
)
—

—

14

5

Other comprehensive loss, net of tax
27

—

(300
)
(47
)
(320
)
December 31, 2018
$
(71
)
$
—

$
102

$
(3,809
)
$
(3,778
)

Current-period amounts reclassified out of AOCL related primarily to changes in our retirement plans’ funded status and consisted of pretax recognized net actuarial losses of $355 in 2018, $358 in 2017 and $340 in 2016. This was offset partially by pretax amortization of prior service credit of $50 in 2018, $69 in 2017 and $74 in 2016. These AOCL components are included in our net periodic pension and other post-retirement benefit cost. See Note Q for additional details.