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Stockholders' Equity
 6 Months Ended
Jun. 30, 2017
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 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 2016
20
 
0.36
 
1.44
 
May 2016
April 2017
28
 
0.46
 
1.84
 
May 2017

Treasury Stock
 
Six Months Ended
June 30,
 
Total From
February 2008
Through
June 30, 2017
 
2017
 
2016
 
Shares repurchased
3,412,858

 
2,821,140

 
37,755,074

Average purchase price per share
$
88.88

 
$
70.89

 
$
56.65

Shares repurchased (in $ millions)
$
303

 
$
200

 
$
2,138

Aggregate Board of Directors repurchase authorizations during the period (in $ millions)(1)
$
—

 
$
—

 
$
2,366

______________________________
(1) 
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 July 17, 2017, the Company's Board of Directors approved a $1.5 billion increase in its Common Stock repurchase authorization. As of June 30, 2017, the Company had $228 million remaining under the previous authorization. The Company also declared a quarterly cash dividend of $0.46 per share on its Common Stock on July 17, 2017, amounting to $63 million. The cash dividend will be paid on August 7, 2017 to holders of record as of July 28, 2017.
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 June 30,
 
2017
 
2016
 
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
71

 
7

 
78

 
(17
)
 
(1
)
 
(18
)
Gain (loss) on cash flow hedges
1

 
—

 
1

 
1

 
—

 
1

Pension and postretirement benefits
—

 
—

 
—

 
(1
)
 
—

 
(1
)
Total
73

 
7

 
80

 
(17
)
 
(1
)
 
(18
)

 
Six Months Ended June 30,
 
2017
 
2016
 
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
99

 
7

 
106

 
53

 
(7
)
 
46

Gain (loss) on cash flow hedges
(1
)
 
—

 
(1
)
 
1

 
—

 
1

Pension and postretirement benefits
5

 
—

 
5

 
(1
)
 
—

 
(1
)
Total
104

 
7

 
111

 
54

 
(7
)
 
47


Adjustments to Accumulated other comprehensive income (loss), net, are as follows:
 
Unrealized
Gain (Loss)
on
Marketable
Securities
 
Foreign
Currency
Translation
 
Gain (Loss)
on Cash
Flow
Hedges
 
Pension
and
Postretirement
Benefits
 
Accumulated
Other
Comprehensive
Income
(Loss), Net
 
(In $ millions)
As of December 31, 2016
1

 
(350
)
 
3

 
(12
)
 
(358
)
Other comprehensive income (loss) before reclassifications
1

 
99

 
1

 
6

 
107

Amounts reclassified from accumulated other comprehensive income (loss)
—

 
—

 
(2
)

(1
)

(3
)
Income tax (provision) benefit
—

 
7

 
—

 
—

 
7

As of June 30, 2017
2

 
(244
)
 
2

 
(7
)
 
(247
)