Shareholders' Equity (Tables)

3 Months Ended

Mar. 31, 2016

The following summarizes our shareholders’ equity activity for the first quarter of 2016 and 2015:



(Dollars in millions)	Par Value of Issued Shares		Capital In Excess of Par Value		Retained Earnings			Accumulated Other Comprehensive Income (Loss)			Treasury Shares		Non-controlling Interests			Total Shareholders’ Equity
Balance at December 31, 2014	$	1	$	5,411	$	2,427		$	(881	)	$	—	$	75		$	7,033
Net Income (Loss)	—		—		(118		)	—			—		11			(107		)
Other Comprehensive Loss	—		—		—			(323		)	—		—			(323		)
Dividends Paid to Noncontrolling Interests	—		—		—			—			—		(18		)	(18		)
Equity Awards Granted, Vested and Exercised	—		12		—			—			—		—			12
Other	—		—		—			—			—		1			1
Balance at March 31, 2015	$	1	$	5,423	$	2,309		$	(1,204	)	$	—	$	69		$	6,598

Balance at December 31, 2015	$	1	$	5,502	$	442		$	(1,641	)	$	—	$	61		$	4,365
Net Income (Loss)	—		—		(498		)	—			—		7			(491		)
Other Comprehensive Income	—		—		—			143			—		—			143
Issuance of Common Shares	—		623		—			—			—		—			623
Equity Awards Granted, Vested and Exercised	—		19		—			—			—		—			19
Balance at March 31, 2016	$	1	$	6,144	$	(56	)	$	(1,498	)	$	—	$	68		$	4,659

The following table presents the changes in our accumulated other comprehensive income (loss) by component for the first quarter of 2016 and 2015:



(Dollars in millions)	Currency Translation Adjustment			Defined Benefit Pension			Deferred Loss on Derivatives			Total
Balance at December 31, 2014	$	(813	)	$	(57	)	$	(11	)	$	(881	)

Other Comprehensive Income (Loss)	(345		)	20			—			(325		)
Reclassifications	—			2			—			2
Net activity	(345		)	22			—			(323		)

Balance at March 31, 2015	$	(1,158	)	$	(35	)	$	(11	)	$	(1,204	)

Balance at December 31, 2015	$	(1,602	)	$	(29	)	$	(10	)	$	(1,641	)

Other Comprehensive Income before Reclassifications	142			—			—			142
Reclassifications	—			—			1			1
Net activity	142			—			1			143

Balance at March 31, 2016	$	(1,460	)	$	(29	)	$	(9	)	$	(1,498	)