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Stockholders' Equity
 9 Months Ended
Sep. 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
 
Nine Months Ended
September 30,
 
Total From
February 2008
Through
September 30, 2017
 
2017
 
2016
 
Shares repurchased
5,436,803

 
4,360,617

 
39,779,019

Average purchase price per share
$
91.97

 
$
68.80

 
$
58.71

Shares repurchased (in $ millions)
$
500

 
$
300

 
$
2,335

Aggregate Board of Directors repurchase authorizations during the period (in $ millions)(1)
$
1,500

 
$
—

 
$
3,866

______________________________
(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.
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,
 
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
44

 
(2
)
 
42

 
(2
)
 
(6
)
 
(8
)
Gain (loss) on cash flow hedges
—

 
—

 
—

 
—

 
—

 
—

Pension and postretirement benefits
(1
)
 
—

 
(1
)
 
—

 
—

 
—

Total
43

 
(2
)
 
41

 
(3
)
 
(6
)
 
(9
)

 
Nine Months Ended September 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
143

 
5

 
148

 
51

 
(13
)
 
38

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

 
(1
)
 
1

 
—

 
1

Pension and postretirement benefits
4

 
—

 
4

 
(1
)
 
—

 
(1
)
Total
147

 
5

 
152

 
51

 
(13
)
 
38


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

 
143

 
1

 
5

 
150

Amounts reclassified from accumulated other comprehensive income (loss)
—

 
—

 
(2
)

(1
)

(3
)
Income tax (provision) benefit
—

 
5

 
—

 
—

 
5

As of September 30, 2017
2

 
(202
)
 
2

 
(8
)
 
(206
)