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Shareholders' Equity (Tables)
 12 Months Ended
Dec. 31, 2016
Classification of Pre-Payroll Tax and Social Contribution Stock-Based Compensation Expense Included in Consolidated Statements of Income

The following table illustrates the classification of pre-payroll tax and social contribution stock-based compensation expense included in the consolidated statements of income for the years ended December 31, 2016, December 31, 2015 and December 31, 2014:

 

     December 31,      December 31,      December 31,  
     2016      2015      2014  

Cost of sales

      7        7        6  

Selling, general and administrative

      17        17        16  

Research and development

      14        14        14  
  

 

 

     

 

 

     

 

 

  

Total pre-payroll tax and social contribution compensation

      38        38        36  
  

 

 

     

 

 

     

 

 

  
Changes in AOCI Attributable to Stockholders

The table below details the changes in AOCI attributable to the company’s stockholders by component, net of tax, for the years ended December 31, 2016, 2015 and 2014:

 

    Gains (Losses)
on Cash Flow
Hedges		     Gains (Losses) on
Available-For-Sale
Securities		     Defined Benefit
Pension Plan
Items		     Foreign Currency
Translation
Adjustments
(“CTA”)		     Total  

December 31, 2013

     38       1       (100 )      1,085       1,024  
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Cumulative tax impact

     (5 )      —         23       —         18  
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

December 31, 2013, net of tax

     33       1       (77 )      1,085       1,042  
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

OCI before reclassifications

     (116 )      1       (76 )      (272 )      (463 ) 

Amounts reclassified from AOCI

     2       —         6       —         8  

OCI for the year ended December 31, 2014

     (114 )      1       (70 )      (272 )      (455 ) 

Cumulative tax impact

     5       —         21       —         26  

OCI for the year ended December 31, 2014, net of tax

     (109 )      1       (49 )      (272 )      (429 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

December 31, 2014

     (76 )      2       (170 )      813       569  
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Cumulative tax impact

     —         —         44       —         44  
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

December 31, 2014, net of tax

     (76 )      2       (126 )      813       613  
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

OCI before reclassifications

     (117 )      —         (2 )      (202 )      (321 ) 

Amounts reclassified from AOCI

     170       —         12       (10 )      172  

OCI for the year ended December 31, 2015

     53       —         10       (212 )      (149 ) 

Cumulative tax impact

     —         —         (4 )      —         (4 ) 

OCI for the year ended December 31, 2015, net of tax

     53       —         6       (212 )      (153 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

December 31, 2015

     (23 )      2       (160 )      601       420  
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Cumulative tax impact

     —         —         40       —         40  
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

December 31, 2015, net of tax

     (23 )      2       (120 )      601       460  
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

OCI before reclassifications

     (33 )      —         (25 )      (57 )      (115 ) 

Amounts reclassified from AOCI

     9       —         15       —         24  

OCI for the year ended December 31, 2016

     (24 )      —         (10 )      (57 )      (91 ) 

Cumulative tax impact

     —         —         2       —         2  

OCI for the year ended December 31, 2016, net of tax

     (24 )      —         (8 )      (57 )      (89 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

December 31, 2016

     (47 )      2       (170 )      544       329  
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Cumulative tax impact

     —         —         42       —         42  
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

December 31, 2016, net of tax

     (47 )      2       (128 )      544       371  
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  
Schedule of Items Reclassified Out of Accumulated Other Comprehensive Income

Items reclassified out of Accumulated Other Comprehensive Income for the years ended December 31, 2016, 2015 and 2014 are listed in the table below:

 

Details about AOCI components

   Amounts
reclassified from
AOCI in the
year ended
December 31,
2016		     Amounts
reclassified from
AOCI in the
year ended
December 31,
2015		     Amounts
reclassified from
AOCI in the
year ended
December 31,
2014		    

Affected line item in

the statement where

net income (loss) is presented

Gains (Losses) on Cash Flow Hedges

        

Foreign exchange derivative contracts

     (7 )      (105 )      (1 )   

Cost of sales

Foreign exchange derivative contracts

     —         (14 )      (1 )   

Selling, general and administrative

Foreign exchange derivative contracts

     (2 )      (51 )      —      

Research and development
    —         —         —      

Income tax benefit (expense)
 

 

 

    

 

 

    

 

 

    
    (9 )      (170 )      (2 )   

Net of tax
 

 

 

    

 

 

    

 

 

    

Defined Benefit Pension Plan Items

        

Amortization of actuarial gains (losses)

     (1 )      —         —      

Cost of sales

Amortization of actuarial gains (losses)

     (8 )      (5 )      (1 )   

Selling, general and administrative

Amortization of actuarial gains (losses)

     (6 )      (6 )      (4 )   

Research and development

Amortization of prior service cost

     —         (1 )      (1 )   

Research and development
    4       4       1    

Income tax benefit (expense)
 

 

 

    

 

 

    

 

 

    
    (11 )      (8 )      (5 )   

Net of tax
 

 

 

    

 

 

    

 

 

    

Foreign currency translation adjustment

        

Realized gain on disposal of investments

     —         10       —      

Income (loss) on equity-method investments
    —         —         —      

Income tax benefit (expense)
 

 

 

    

 

 

    

 

 

    
    —         10       —      

Net of tax
 

 

 

    

 

 

    

 

 

    

Total reclassifications for the year

     (20 )      (168 )      (7 )   
 

 

 

    

 

 

    

 

 

    

Attributable to noncontrolling interest

     —         —         —      
 

 

 

    

 

 

    

 

 

    

Attributable to the Company’s stockholders

     (20 )      (168 )      (7 )   
 

 

 

    

 

 

    

 

 

    
Supervisory Board [Member]  
Summary of Grants Under Outstanding Stock Award Plans

The table below summarizes grants under the outstanding stock award plans as authorized by the Compensation Committee:

 

Year of grant

    Options granted and
vested		      Options waived at
grant		  

2005

      66,000        (15,000 ) 

2006

      66,000        (15,000 ) 

2007

      165,000        (22,500 ) 

2008

      165,000        (22,500 ) 

2009

      165,000        (7,500 ) 

2010

      172,500        (7,500 ) 

2011

      172,500        (30,000 ) 

2012

      180,000        (22,500 ) 

2013

      No options granted  

2014

      No options granted  

2015

      No options granted  

2016

      No options granted  
Summary of Nonvested Share Activity

A summary of the options’ activity by plan for the years ended December 31, 2016 and December 31, 2015 is presented below:

 

Year of grant

    Outstanding
as of
31.12.2014		      Exercised     Expired /
Cancelled		      Outstanding
as of
31.12.2015		      Exercised     Expired /
Cancelled		      Outstanding
as of
31.12.2016		      Shares
corresponding
to exercised
option not yet
available for
trade as of
31.12.2016		  

2005

      22,115        (22,115 )      —          —          —         —          —          —    

2006

      21,000        (18,000 )      —          3,000        (3,000 )      —          —          —    

2007

      46,500        (27,000 )      —          19,500        (12,000 )      —          7,500        —    

2008

      60,000        (21,000 )      —          39,000        (15,000 )      —          24,000        —    

2009

      75,000        (30,000 )      —          45,000        (10,000 )      —          35,000        —    

2010

      75,000        (30,000 )      —          45,000        —         —          45,000        —    

2011

      97,500        (15,000 )      —          82,500        (15,000 )      —          67,500        —    

2012

      102,500        (7,500 )      —          95,000        (7,500 )      —          87,500        —    
Employees [Member]  
Summary of Grants Under Outstanding Stock Award Plans

The table below summarizes grants under the outstanding stock award plans as authorized by the Compensation Committee:

 

Date of grant

    Plan name    Number of shares
granted		      Number of
shares waived		      Number of shares
lost on performance
conditions		  

July 22, 2013

    2013 CEO Special Bonus      63,848        —          —    

July 22, 2014

    2014 CEO Special Bonus      34,483        —          —    

July 22, 2014

    2014 Employee Plan      6,458,435        —          (1,939,222 ) 

December 18, 2014

    2014 Employee Plan      500,775        —          (31,332 ) 

March 24, 2015

    2015 CEO Special Bonus      53,369        —          —    

July 27, 2015

    2015 Employee Plan      6,591,200        —          (1,961,886 ) 

December 15, 2015

    2015 Employee Plan      370,920        —          (29,078 ) 

July 26, 2016

    2016 Employee Plan      6,621,100        —               (*) 

December 19, 2016

    2016 Employee Plan      376,800        —               (*) 

 

(*) As at December 31, 2016, a final determination of the achievement of the performance conditions had not yet been made by the Compensation Committee of the Supervisory Board.
Summary of Nonvested Share Activity

A summary of the unvested share activity by plan for the year ended December 31, 2016 is presented below:

 

Unvested Shares

    Unvested
as at
December 31,
2015		      Granted      Forfeited /
waived		     Cancelled on
failed vesting
conditions		     Vested     Unvested
as at
December 31,
2016		  

2013 CEO Special Bonus

      28,378        —          —         —         (21,283 )      7,095  

2013 Employee Plan

      1,462,359        —          (9,767 )      —         (1,452,592 )      —    

2014 CEO Special Bonus

      22,989        —          —         —         (11,494 )      11,495  

2014 Employee Plan

      3,246,106        —          (35,574 )      —         (1,599,079 )      1,611,453  

2015 CEO Special Bonus

      —          53,369        —         —         (17,790 )      35,579  

2015 Employee Plan

      6,931,175        —          (63,228 )      (1,990,964 )      (1,706,244 )      3,170,739  

2016 Employee Plan

      —          6,997,900        (21,295 )      —         (2,185 )      6,974,420  
  

 

 

     

 

 

     

 

 

    

 

 

    

 

 

    

 

 

  

Total

      11,691,007        7,051,269        (129,864 )      (1,990,964 )      (4,810,667 )      11,810,781