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Stockholders' Equity
 9 Months Ended
Sep. 30, 2018
Stockholders' Equity Note [Abstract]  
Stockholders' Equity
Stockholders' Equity
Common Stock
On September 17, 2018, the Company filed with the Secretary of State of the State of Delaware a Certificate of Amendment (the "Certificate of Amendment") to its Second Amended and Restated Certificate of Incorporation, as amended, to remove all references to the Company's Series B Common Stock, par value $0.0001 per share, therefrom and to redesignate the Company's Series A Common Stock, par value $0.0001 per share, as "Common Stock." Following the filing of the Certificate of Amendment, the Company no longer has series of its class of 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 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 2017
28
 
0.46
 
1.84
 
May 2017
April 2018
17
 
0.54
 
2.16
 
May 2018

The Company declared a quarterly cash dividend of $0.54 per share on its Common Stock on October 17, 2018, amounting to $72 million. The cash dividend will be paid on November 8, 2018 to holders of record as of October 29, 2018.
Treasury Stock
 
Nine Months Ended
September 30,
 
Total From
February 2008
Through
September 30, 2018
 
2018
 
2017
 
Shares repurchased
2,179,058

(1) 
5,436,803

 
41,958,077

Average purchase price per share
$
114.73

 
$
91.97

 
$
61.62

Shares repurchased (in $ millions)
$
250

 
$
500

 
$
2,585

Aggregate Board of Directors repurchase authorizations during the period (in $ millions)(2)
$
—

 
$
1,500

 
$
3,866

______________________________
(1) 
Excludes 1,700 common shares reacquired pursuant to an employee clawback agreement.
(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.
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,
 
2018
 
2017
 
Gross
Amount
 
Income
Tax
(Provision)
Benefit
 
Net
Amount
 
Gross
Amount
 
Income
Tax
(Provision)
Benefit
 
Net
Amount
 
(In $ millions)
Unrealized gain (loss) on marketable securities
—

 
—

 
—

 
—

 
—

 
—

Foreign currency translation gain (loss)
(31
)
 
(4
)
 
(35
)
 
44

 
(2
)
 
42

Gain (loss) on cash flow hedges
4

 
—

 
4

 
—

 
—

 
—

Pension and postretirement benefits gain (loss)
—

 
—

 
—

 
(1
)
 
—

 
(1
)
Total
(27
)
 
(4
)
 
(31
)
 
43

 
(2
)
 
41

 
Nine Months Ended September 30,
 
2018
 
2017
 
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 gain (loss)
(58
)
 
6

 
(52
)
 
143

 
5

 
148

Gain (loss) on cash flow hedges
8

 
1

 
9

 
(1
)
 
—

 
(1
)
Pension and postretirement benefits gain (loss)
1

 
—

 
1

 
4

 
—

 
4

Total
(49
)
 
7

 
(42
)
 
147

 
5

 
152


Adjustments to Accumulated other comprehensive income (loss), net, are as follows:
 
Foreign
Currency
Translation Gain (Loss)
 
Gain (Loss)
on Cash
Flow
Hedges
 
Pension
and
Postretirement
Benefits Gain (Loss)
 
Accumulated
Other
Comprehensive
Income
(Loss), Net
 
(In $ millions)
As of December 31, 2017
(176
)
 
2

 
(3
)
 
(177
)
Other comprehensive income (loss) before reclassifications
(58
)
 
9

 
1

 
(48
)
Amounts reclassified from accumulated other comprehensive income (loss)
—

 
(1
)

—


(1
)
Income tax (provision) benefit
6

 
1

 
—

 
7

As of September 30, 2018
(228
)
 
11

 
(2
)
 
(219
)