Shareholders’ (Deficiency) Equity

Changes in our ordinary shares issued during the years ended December 31, 2017, 2016 and 2015, were as follows:



(Shares in millions)	Issued
Balance at December 31, 2014	774
Equity Awards Granted, Vested and Exercised	5
Balance at December 31, 2015	779
Share Issuance	200
Equity Awards Granted, Vested and Exercised	4
Balance at December 31, 2016	983
Equity Awards Granted, Vested and Exercised	10
Balance at December 31, 2017	993

In March 2016, we issued 115 million ordinary shares, and the amount in excess of par value of $623 million is reported in “Capital in Excess of Par Value” on the accompanying Consolidated Balance Sheets.

On June 7, 2016, we issued exchangeable notes with a par value of $1.265 billion. The exchange feature carrying value of $97 million is included in “Capital in Excess of Par Value” on the accompanying Consolidated Balance Sheets.

On November 21, 2016, we issued 84.5 million ordinary shares at a price of $5.40 per ordinary share, and a warrant to purchase 84.5 million ordinary shares on or prior to May 21, 2019 at an exercise price of $6.43 per ordinary share to a selected institutional investor. The amount in excess of par value for the ordinary shares net of warrant was $271 million and is reported in “Capital in Excess of Par Value.” At December 31, 2017, the fair value of the warrant of $70 million is classified as “Other Non-current Liabilities” on the accompanying Consolidated Balance Sheets.

Accumulated Other Comprehensive Loss

The following table presents the changes in our accumulated other comprehensive loss by component for the year ended December 31, 2017 and 2016:



(Dollars in millions)	Currency Translation Adjustment			Defined Benefit Pension			Deferred Loss on Derivatives			Total
Balance at December 31, 2015	$	(1,602	)	$	(29	)	$	(10	)	$	(1,641	)
Other Comprehensive (Loss) Income before Reclassifications	(12		)	41			—			29
Reclassifications	—			1			1			2
Net Activity	(12		)	42			1			31
Balance at December 31, 2016	(1,614		)	13			(9		)	(1,610		)
Other Comprehensive Income before Reclassifications	130			1			—			131
Reclassifications	—			(40		)	—			(40		)
Net Activity	130			(39		)	—			91
Balance at December 31, 2017	$	(1,484	)	$	(26	)	$	(9	)	$	(1,519	)

For the year ended December 31, 2017, the defined benefit pension reclassifications represent the amortization of unrecognized net gains associated primarily with our supplemental executive retirement plan. For the year ended December 31, 2016, the defined benefit pension component of other comprehensive income before reclassifications relates primarily to a net actuarial gain resulting from the revaluation of the pension obligation associated with our supplemental executive retirement plan.