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Shareholders' Equity
 12 Months Ended
Dec. 31, 2014
Equity [Abstract]  
Shareholders' Equity
Shareholders’ Equity

Changes in our Issued and Treasury shares during the years ended December 31, 2014, 2013 and 2012, were as follows:
(Shares in millions)
Issued
 
Treasury
Balance at December 31, 2011
765

 
(16
)
Shares issued for acquisitions
—

 
3

Equity awards granted, vested and exercised
—

 
4

Shares issued for warrants
5

 
—

Shares issued for internal restructuring
70

 
(70
)
Balance at December 31, 2012
840

 
(79
)
Equity awards granted, vested and exercised
—

 
6

Balance at December 31, 2013
840

 
(73
)
Change in Shares Associated with Redomestication
(840
)
 
71

Issuance of Weatherford Ireland Shares
774

 
—

Equity awards granted, vested and exercised
—

 
2

Balance at December 31, 2014
774

 
—



On June 17, 2014, we completed the change in our place of incorporation from Switzerland to Ireland, whereby Weatherford Ireland became the new public holding company and the parent of the Weatherford group of companies, pursuant to which each registered share of Weatherford Switzerland was exchanged as consideration for the allotment of one ordinary share of Weatherford Ireland (excluding shares held by, or for the benefit of, Weatherford Switzerland or any of its subsidiaries). The Weatherford Switzerland shares were then cancelled. Weatherford Ireland issued ordinary shares with a par value of $0.001 per share. In conjunction with the redomestication, the shares held by our executive deferred compensation plan were sold and the remaining treasury shares were cancelled.

Effective May 23, 2012, we issued 70 million shares to one of our subsidiaries in an internal restructuring of certain of our assets.

Warrants

On February 28, 2012, 4.3 million outstanding warrants to purchase our shares were exercised through physical delivery of shares in exchange for $65 million and an additional 4.3 million warrants were exercised through net share settlement resulting in the issuance of 494 thousand shares.

Accumulated Other Comprehensive Loss

The following table presents the changes in our accumulated other comprehensive loss by component for the year ended December 31, 2014 and 2013:
(Dollars in millions)
Currency Translation Adjustment
 
Defined Benefit Pension
 
Deferred Loss on Derivatives
 
Total
Balance at January 1, 2013
$
213

 
$
(40
)
 
$
(10
)
 
$
163

Other comprehensive income before reclassifications
(316
)
 
—

 
—

 
(316
)
Reclassifications
(37
)
 
2

 
1

 
(34
)
Net activity
(353
)
 
2

 
1

 
(350
)
Balance at December 31, 2013
(140
)
 
(38
)
 
(9
)
 
(187
)
Other comprehensive income before reclassifications
(763
)
 
(21
)
 
—

 
(784
)
Reclassifications
90

 
2

 
—

 
92

Other
—

 
—

 
(2
)
 
(2
)
Net activity
(673
)
 
(19
)
 
(2
)
 
(694
)
Balance at December 31, 2014
$
(813
)
 
$
(57
)
 
$
(11
)
 
$
(881
)


The reclassification from the currency translation adjustment component of other comprehensive income includes $90 million from the sale of our land drilling and workover rig operations in Russia and Venezuela and pipeline and specialty service businesses. This amount was recognized in the “Gain on Sale of Businesses and Investments, Net” line in our Consolidated Statements of Operations for the year ended December 31, 2014.

The 2013 reclassification from the currency translation adjustment component of other comprehensive income includes $30 million from the sale of our industrial screen business. This amount was recognized in the “Gain on Sale of Businesses and Investments, Net” line in our Consolidated Statements of Operations for the year ended December 31, 2013.