Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2019

Equity [Abstract]

Schedule of Dividends

The Company’s Board have made or declared the following dividends in 2019, 2018 and 2017:

Declared	Period Covered	$ per Share		Record Date	Payable Date
February 14, 2020	Fourth quarter 2019	$	1.00	March 6, 2020	March 11, 2020
October 29, 2019	Third quarter 2019	1.00		November 11, 2019	November 14, 2019
July 30, 2019	Second quarter 2019	1.00		August 12, 2019	August 15, 2019
April 29, 2019	First quarter 2019	1.00		May 13, 2019	May 16, 2019
February 14, 2019	Fourth quarter 2018	1.00		March 4, 2019	March 7, 2019
October 30, 2018	Third quarter 2018	1.00		November 12, 2018	November 15, 2018
July 31, 2018	Second quarter 2018	1.00		August 13, 2018	August 16, 2018
May 1, 2018	First quarter 2018	1.00		May 14, 2018	May 17, 2018
February 19, 2018	Fourth quarter 2017	1.44		March 5, 2018	March 8, 2018
October 30, 2017	Third quarter 2017	1.42		November 13, 2017	November 16, 2017
August 1, 2017	Second quarter 2017	1.38		August 14, 2017	August 17, 2017
May 2, 2017	First quarter 2017	1.32		May 15, 2017	May 18, 2017
February 17, 2017	Fourth quarter 2016	1.31		March 3, 2017	March 8, 2017

Schedule of Stock Issued to Board of Directors

Since 2017, the Company has granted and issued the following stock to the Board under the Plans:

Date of Grant	Stock Units Granted	Price of Stock Units Granted		Date of Vesting
May 17, 2017	9,435	$	79.51	May 15, 2018
June 7, 2018	19,230	39.00		May 14, 2019
September 5, 2018(1)	4,416	47.03		May 14, 2019
May 15, 2019	21,390	42.08		(2)

_____________

(1) Represents additional restricted stock unit grants to new independent directors.

(2)

Date of vesting will be the day immediately preceding the 2020 annual meeting of the Company’s stockholders.

Schedule of Nonvested Restricted Stock Units Activity

The following represents unvested Special RSUs granted through 2019:

	2019 Special Grants
	Number of RSUs (in units)	Weighted Average Grant-Date Fair Value (per share)
Unvested at December 31, 2018	—	$	—
Granted	6,067	40.30
Unvested at December 31, 2019	6,067	$	40.30

Schedule of Nonvested Performance-based Units Activity

The following represents unvested LTIP grants through December 31, 2019 at the target level of performance:

	2019 LTIP (at Target)
	Number of PSUs (in units)	Weighted Average Grant-Date Fair Value (per share)
Unvested at December 31, 2018	—	$	—
Granted	134,671	39.59
Forfeited	(9,477)	39.26
Unvested at December 31, 2019	125,194	$	39.62

Schedule of Accumulated Other Comprehensive Loss

The following represents the changes and balances to the components of accumulated other comprehensive loss, net of taxes, in 2019, 2018 and 2017 ($ in millions):

	Post-Retirement Benefit Plans, net of taxes(1)			Translation Adjustment, net of taxes(2)			Total Stockholders’ Accumulated Other Comprehensive Loss, net of taxes
Balance at December 31, 2016	$	(17	)	$	(12	)	$	(29	)
Change in post-retirement benefit plans	(4		)	—			(4		)
Translation adjustment	—			3			3
Balance at December 31, 2017	$	(21	)	$	(9	)	$	(30	)
Cumulative effect of change in accounting principle(3)	(4		)	—			(4		)
Change in post-retirement benefit plans	9			—			9
Translation adjustment	—			(5		)	(5		)
Balance at December 31, 2018	$	(16	)	$	(14	)	$	(30	)
Change in post-retirement benefit plans	(9		)	—			(9		)
Translation adjustment	—			2			2
Balance at December 31, 2019	$	(25	)	$	(12	)	$	(37	)

____________

(1) Change in post-retirement benefit plans is presented net of tax benefit of $3 million in both 2019 and 2017 and net of tax expense of $3 million in 2018.

(2) Translation adjustment is presented net of tax expense of $1 million and $2 million in 2019 and 2017, respectively, and net of tax benefit of $2 million in 2018.

(3)

In 2018, the Company adopted ASU No. 2018-02 and made a $4 million adjustment to reclassify stranded tax effects in Accumulated Other Comprehensive Loss to Retained Earnings.