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Stockholders' Equity
 12 Months Ended
Dec. 31, 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 2013
20
 
0.090

 
0.36

 
May 2013
July 2013
100
 
0.180

 
0.72

 
August 2013
April 2014
39
 
0.250

 
1.00

 
May 2014
April 2015
20
 
0.300

 
1.20

 
May 2015

On February 4, 2016, the Company declared a quarterly cash dividend of $0.30 per share on its Common Stock amounting to $44 million. The cash dividend is for the period from November 1, 2015 to January 31, 2016 and will be paid on February 26, 2016 to holders of record as of February 16, 2016.
Treasury Stock
The Company's Board of Directors authorizes repurchases of Common Stock from time to time. These authorizations give management discretion in determining the timing and conditions under which shares may be repurchased. This repurchase program does not have an expiration date.
The share repurchase activity pursuant to this authorization is as follows:
 
Year Ended December 31,
 
Total From
February 2008
Through
December 31, 2015
 
2015
 
2014
 
2013
 
Shares repurchased
6,640,601

(1) 
4,338,488

 
3,186,180

(1) 
27,307,796

Average purchase price per share
$
63.31

 
$
57.61

 
$
51.38

 
$
48.90

Amount spent on repurchased shares (in millions)
$
420

 
$
250

 
$
164

 
$
1,335

Aggregate Board of Directors repurchase authorizations during the period (in millions)(2)
$
1,000

 
$
473

 
$
—

 
$
2,366

______________________________
(1) 
The years ended December 31, 2015 and 2013 exclude 9,264 and 6,021 shares, respectively, 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. In September 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
 
Year Ended December 31,
 
2015
 
2014
 
2013
 
Gross
Amount
 
Income
Tax
(Provision)
Benefit
 
Net
Amount
 
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

 
1

 
—

 
1

Foreign currency translation
(193
)
 
5

 
(188
)
 
(188
)
 
40

 
(148
)
 
55

 
(35
)
 
20

Gain (loss) on cash flow hedges
3

 
(1
)
 
2

 
—

 
40

 
40

 
9

 
(3
)
 
6

Pension and postretirement benefits
4

 
(1
)
 
3

 
(84
)
 
30

 
(54
)
 
88

 
(30
)
 
58

Total
(186
)
 
3

 
(183
)
 
(272
)
 
111

 
(161
)
 
153

 
(68
)
 
85


Adjustments to Accumulated other comprehensive income (loss), net, are as follows:
 
Unrealized
Gain (Loss) on
Marketable
Securities
 
Foreign
Currency
Translation
 
Gain (Loss)
from Cash Flow Hedges
 
Pension
and
Postretirement
Benefits
 
Accumulated
Other
Comprehensive
Income
(Loss), Net
 
(In $ millions)
As of December 31, 2012
(1
)
 
(23
)
 
(50
)
 
(15
)
 
(89
)
Other comprehensive income (loss) before reclassifications
1

 
55

 
(2
)
 
99

 
153

Amounts reclassified from accumulated other comprehensive income (loss)
—

 
—

 
11

 
(11
)
 
—

Income tax (provision) benefit
—

 
(35
)
 
(3
)
 
(30
)
 
(68
)
As of December 31, 2013
—

 
(3
)
 
(44
)
 
43

 
(4
)
Other comprehensive income (loss) before reclassifications
—

 
(188
)
 
(9
)
 
(1
)
 
(198
)
Amounts reclassified from accumulated other comprehensive income (loss)
—

 
—

 
9

 
(83
)
 
(74
)
Income tax (provision) benefit
1

 
40

 
40

 
30

 
111

As of December 31, 2014
1

 
(151
)
 
(4
)
 
(11
)
 
(165
)
Other comprehensive income (loss) before reclassifications
—

 
(193
)
 
(2
)
 
6

 
(189
)
Amounts reclassified from accumulated other comprehensive income (loss)
—

 
—

 
5

 
(2
)
 
3

Income tax (provision) benefit
—

 
5

 
(1
)
 
(1
)
 
3

As of December 31, 2015
1

 
(339
)
 
(2
)
 
(8
)
 
(348
)