XML 26 R12.htm IDEA: XBRL DOCUMENT v3.7.0.1
Shareholders' Equity
3 Months Ended
Mar. 31, 2017
Stockholders' Equity Note [Abstract]  
Stockholders' Equity
Shareholders’ Equity

The following tables summarize our shareholders’ equity activity:
Millions of dollars
Total shareholders' equity
Company shareholders' equity
Noncontrolling interest in consolidated subsidiaries
Balance at December 31, 2016
$
9,448

$
9,409

$
39

Retained earnings adjustment for new accounting standard (a)
(384
)
(384
)

Payments of dividends to shareholders
(156
)
(156
)

Stock plans
120

120


Other
(9
)
(8
)
(1
)
Comprehensive loss
(30
)
(30
)

Balance at March 31, 2017
$
8,989

$
8,951

$
38

(a) Represents a cumulative-effect adjustment to retained earnings upon our adoption of a new accounting standards update on the income tax consequences of intra-entity transfers of assets other than inventory which was effective January 1, 2017. See Note 9 for further information.
Millions of dollars
Total shareholders' equity
Company shareholders' equity
Noncontrolling interest in consolidated subsidiaries
Balance at December 31, 2015
$
15,495

$
15,462

$
33

Payments of dividends to shareholders
(154
)
(154
)

Stock plans
126

126


Other
12

(6
)
18

Comprehensive loss
(2,419
)
(2,413
)
(6
)
Balance at March 31, 2016
$
13,060

$
13,015

$
45



Our Board of Directors has authorized a program to repurchase our common stock from time to time. Approximately $5.7 billion remains authorized for repurchases as of March 31, 2017. From the inception of this program in February 2006 through March 31, 2017, we repurchased approximately 201 million shares of our common stock for a total cost of approximately $8.4 billion. There were no repurchases made under the program during the three months ended March 31, 2017.
        
Accumulated other comprehensive loss consisted of the following:
Millions of dollars
March 31,
2017
December 31,
2016
Defined benefit and other postretirement liability adjustments
$
(314
)
$
(313
)
Cumulative translation adjustments
(80
)
(80
)
Other
(58
)
(61
)
Total accumulated other comprehensive loss
$
(452
)
$
(454
)