Stockholders' Equity

6 Months Ended

Jun. 30, 2021

Stockholders' Equity Note [Abstract]

Stockholders' Equity [Text Block]

Note 9 – Stockholders’ Equity

Stockholder Rights Agreement

As disclosed in our Annual Report on Form 10-K filed February 24, 2021, a purported shareholder filed a putative class action lawsuit in the Delaware Court of Chancery challenging our stockholder rights agreement (Rights Agreement). On February 26, 2021, the Delaware Court of Chancery issued a decision which declared the Rights Agreement unenforceable and permanently enjoined the continued operation of the Rights Agreement, which otherwise would have expired on March 20, 2021.

AOCI

The following table presents the changes in AOCI by component, net of income taxes:

	Cash Flow Hedges		Foreign Currency Translation		Pension and Other Postretirement Benefits		Total
	(Millions)
Balance at December 31, 2020	$	(3)	$	(1)	$	(92)	$	(96)
Other comprehensive income (loss) before reclassifications	(26)		—		—		(26)
Amounts reclassified from accumulated other comprehensive income (loss)	6		—		6		12
Other comprehensive income (loss)	(20)		—		6		(14)
Balance at June 30, 2021	$	(23)	$	(1)	$	(86)	$	(110)

Reclassifications out of AOCI are presented in the following table by component for the six months ended June 30, 2021:

Component	Reclassifications		Classification
	(Millions)
Cash flow hedges:
Energy commodity contracts	$	8	Product sales
Pension and other postretirement benefits:
Amortization of actuarial (gain) loss and net actuarial loss from settlements included in net periodic benefit cost (credit)	8		Other income (expense) – net below Operating income (loss)
Income tax benefit	(4)		Provision (benefit) for income taxes
Reclassifications during the period	$	12