Stockholders' Equity

9 Months Ended

Sep. 30, 2015

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 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 Indentures.

The Company's Board of Directors approved increases in the Company's Common Stock cash dividend rates as follows:

	Increase	Quarterly Common Stock Cash Dividend	Annual Common Stock Cash Dividend	Effective Date
	(In percentages)	(In $ per share)
April 2014	39	0.25	1.00	May 2014
April 2015	20	0.30	1.20	May 2015

Treasury Stock

	Nine Months Ended September 30,					Total From February 2008 Through September 30, 2015
	2015			2014
Shares repurchased	6,640,601		(1)	3,515,301		27,307,796
Average purchase price per share	$	63.31		$	57.19	$	48.90
Cash paid for repurchased shares (in millions)	$	420		$	201	$	1,335
Aggregate Board of Directors repurchase authorizations during the period (in millions)(2)	$	1,000		$	172	$	2,366

______________________________

⁽¹⁾  Excludes 9,264 shares withheld from an executive officer to cover statutory minimum withholding requirements for personal income taxes related to the vesting of restricted stock. Restricted stock awards are considered outstanding at the time of issuance. Accordingly, the shares withheld are treated as treasury shares.

⁽²⁾  These authorizations give management discretion in determining the timing and conditions under which shares may be repurchased. This repurchase program began in February 2008 and does not have an expiration date. On September 9, 2015, the Board of Directors approved a new $1.0 billion share repurchase authorization.

The purchase of treasury stock reduces the number of shares outstanding. 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 September 30,
	2015						2014
	Gross Amount		Income Tax (Provision) Benefit		Net Amount		Gross Amount		Income Tax (Provision) Benefit	Net Amount
	(In $ millions)
Unrealized gain (loss) on marketable securities	1		—		1		—		—	—
Foreign currency translation	(8	)	(3	)	(11	)	(127	)	3	(124	)
Gain (loss) on cash flow hedges	(1	)	—		(1	)	(8	)	3	(5	)
Pension and postretirement benefits	—		—		—		(16	)	8	(8	)
Total	(8	)	(3	)	(11	)	(151	)	14	(137	)

	Nine Months Ended September 30,
	2015						2014
	Gross Amount		Income Tax (Provision) Benefit		Net Amount		Gross Amount		Income Tax (Provision) Benefit	Net Amount
	(In $ millions)
Unrealized gain (loss) on marketable securities	1		(1	)	—		—		—	—
Foreign currency translation	(125	)	(5	)	(130	)	(142	)	1	(141	)
Gain (loss) on cash flow hedges	3		(1	)	2		(11	)	—	(11	)
Pension and postretirement benefits	—		1		1		(57	)	23	(34	)
Total	(121	)	(6	)	(127	)	(210	)	24	(186	)

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

	Unrealized Gain (Loss) on Marketable Securities (Note 4)		Foreign Currency Translation		Gain (Loss) on Cash Flow Hedges (Note 14)		Pension and Postretire- ment Benefits (Note 9)		Accumulated Other Comprehensive Income (Loss), Net
	(In $ millions)
As of December 31, 2014	1		(151	)	(4	)	(11	)	(165	)
Other comprehensive income (loss) before reclassifications	1		(125	)	(2	)	—		(126	)
Amounts reclassified from accumulated other comprehensive income (loss)	—		—		5		—		5
Income tax (provision) benefit	(1	)	(5	)	(1	)	1		(6	)
As of September 30, 2015	1		(281	)	(2	)	(10	)	(292	)