Stockholders' Equity

3 Months Ended

Mar. 31, 2013

Stockholders' Equity Note [Abstract]

Stockholders' Equity

Stockholders’ Equity

Common Stock

The Company’s Board of Directors follows a policy of declaring, subject to legally available funds, a quarterly cash dividend on each share of the Company’s Series A Common Stock, par value $0.0001 per share ("Common Stock") unless the Company’s Board of Directors, in its sole discretion, determines otherwise. The amount available to pay cash dividends is restricted by the Company’s Amended Credit Agreement and the Senior Notes.

Treasury Stock

The Company’s Board of Directors authorized the repurchase of Common Stock as follows:

	Authorized Amount
	(In $ millions)
February 2008	400
October 2008	100
April 2011	129
October 2012	264
As of March 31, 2013	893

The authorization gives management discretion in determining the timing and conditions under which shares may be repurchased. The repurchase program does not have an expiration date.

The share repurchase activity pursuant to this authorization is as follows:

	Three Months Ended March 31,				Total From February 2008 Through March 31, 2013
	2013		2012
Shares repurchased	—		444,901		13,142,527		(1)
Average purchase price per share	$	—	$	46.34	$	38.14
Amount spent on repurchased shares (in millions)	$	—	$	20	$	501

______________________________

⁽¹⁾  Excludes 5,823 shares withheld from employee to cover statutory minimum withholding requirements for personal income taxes related to the vesting of restricted stock. Restricted stock is considered outstanding at the time of issuance and therefore, the shares withheld are treated as treasury shares.

The purchase of treasury stock reduces the number of shares outstanding and the repurchased shares may be used by the Company for compensation programs utilizing the Company’s stock and other corporate purposes. The Company accounts for treasury stock using the cost method and includes treasury stock as a component of stockholders’ equity.

Other Comprehensive Income (Loss), Net

	Three Months Ended March 31,
	2013						2012
	Gross Amount		Income Tax (Provision) Benefit		Net Amount		Gross Amount			Income Tax (Provision) Benefit		Net Amount
							As Adjusted (Note 1)
	(In $ millions)
Unrealized gain (loss) on marketable securities	—		—		—		—			—		—
Foreign currency translation	(31	)	—		(31	)	26			—		26
Gain (loss) on interest rate swaps	2		(1	)	1		2			(1	)	1
Pension and postretirement benefits	—		—		—		(1	)	(1)	(3	)	(4	)
Total	(29	)	(1	)	(30	)	27			(4	)	23

______________________________

⁽¹⁾  Amount includes amortization of actuarial losses of $2 million related to the Company's equity method investments' pension plans.

Adjustments to Accumulated other comprehensive income (loss) are as follows:

	Unrealized Gain (Loss) on Marketable Securities		Foreign Currency Translation		Gain (Loss) on Interest Rate Swaps			Pension and Postretire- ment Benefits			Accumulated Other Comprehensive Income (Loss), Net
	(In $ millions)
As of December 31, 2012 - As Adjusted (Note 1)	(1	)	(23	)	(50	)		(15	)		(89	)
Other comprehensive income before reclassifications	—		(31	)	—			—			(31	)
Amounts reclassified from accumulated other comprehensive income	—		—		2		(1)	—		(2)	2
Income tax (provision) benefit	—		—		(1	)		—			(1	)
As of March 31, 2013	(1	)	(54	)	(49	)		(15	)		(119	)

______________________________

⁽¹⁾  This accumulated other comprehensive income component is related to interest rate swaps and is included in interest expense (Note 15).

⁽²⁾  This accumulated other comprehensive income component is the amortization of prior service cost included in net periodic benefit cost (Note 10).