Equity

12 Months Ended

Dec. 31, 2011

Equity [Abstract]

EQUITY

13. EQUITY

Share Activity

For the years ended December 31, 2011, 2010, and 2009, activity in the number of shares of common stock and treasury stock was as follows (in millions):

	Common Stock	Treasury Stock
Balance as of December 31, 2008	627	(111	)
Sale of common stock	46	—
Transactions in connection with   stock-based compensation plans:
Stock issuances	—	2
Balance as of December 31, 2009	673	(109	)
Transactions in connection with   stock-based compensation plans:
Stock issuances	—	5
Stock repurchases	—	(1	)
Balance as of December 31, 2010	673	(105	)
Transactions in connection with   stock-based compensation plans:
Stock issuances	—	5
Stock repurchases	—	(17	)
Balance as of December 31, 2011	673	(117	)

Common Stock Offering

In June 2009, we sold in a public offering 46 million shares of our common stock, which included 6 million shares related to an overallotment option exercised by the underwriters, at a price of $18.00 per share and received proceeds of $799 million, net of underwriting discounts and commissions and other issuance costs.

Preferred Stock

We have 20 million shares of preferred stock authorized with a par value of $0.01 per share. No shares of preferred stock were outstanding as of December 31, 2011 and 2010.

Treasury Stock

We purchase shares of our common stock in open market transactions to meet our obligations under employee stock-based compensation plans. We also purchase shares of our common stock from our employees and non-employee directors in connection with the exercise of stock options, the vesting of restricted stock, and other stock compensation transactions.

On February 28, 2008, our board of directors approved a $3 billion common stock purchase program, which is in addition to the remaining amount under a $6 billion program previously authorized. This additional $3 billion program has no expiration date. As of December 31, 2011, we had made no purchases of our common stock under this $3 billion program. As of December 31, 2011, we have approvals under these stock purchase programs to purchase approximately $3.5 billion of our common stock.

Common Stock Dividends

On January 24, 2012, our board of directors declared a quarterly cash dividend of $0.15 per common share payable March 14, 2012 to holders of record at the close of business on February 15, 2012.

Accumulated Other Comprehensive Income

Changes in the balances of each component of accumulated other comprehensive income (loss) were as follows (in millions):

	Foreign Currency Translation Adjustment			Pension/ OPEB Liability Adjustment			Net Gain (Loss) On Cash Flow Hedges			Accumulated Other Comprehensive Income (Loss)
Balance as of December 31, 2008	$	90		$	(435	)	$	169		$	(176	)
Other comprehensive income (loss)	375			218			(52		)	541
Balance as of December 31, 2009	465			(217		)	117			365
Other comprehensive income (loss)	158			(18		)	(117		)	23
Balance as of December 31, 2010	623			(235		)	—			388
Other comprehensive income (loss)	(122		)	(189		)	19			(292		)
Balance as of December 31, 2011	$	501		$	(424	)	$	19		$	96