Shareholders’ Equity

The following summarizes our shareholders’ equity activity for the first three months of 2018 and 2017:



(Dollars in millions)	Par Value of Issued Shares		Capital in Excess of Par Value		Retained Earnings (Deficit)			Accumulated Other Comprehensive Income (Loss)			Non-controlling Interests			Total Shareholders’ Equity
Balance at December 31, 2016	$	1	$	6,571	$	(2,950	)	$	(1,610	)	$	56		$	2,068
Net Income (Loss)	—		—		(448		)	—			5			(443		)
Other Comprehensive Income	—		—		—			43			—			43
Dividends Paid to Noncontrolling Interests	—		—		—			—			(5		)	(5		)
Equity Awards Granted, Vested and Exercised	—		28		—			—			—			28
Balance at March 31, 2017	$	1	$	6,599	$	(3,398	)	$	(1,567	)	$	56		$	1,691

Balance at December 31, 2017	$	1	$	6,655	$	(5,763	)	$	(1,519	)	$	55		$	(571	)
Net Income (Loss)	—		—		(245		)	—			3			(242		)
Other Comprehensive Income	—		—		—			5			—			5
Dividends Paid to Noncontrolling Interests	—		—		—			—			(4		)	(4		)
Equity Awards Granted, Vested and Exercised	—		17		—			—			—			17
Adoption of Intra-Entity Transfers of Assets Other Than Inventory and Revenue from Contracts with Customers	—		—		(97		)	—			—			(97		)
Other	—		4		—			—			(10		)	(6		)
Balance at March 31, 2018	$	1	$	6,676	$	(6,105	)	$	(1,514	)	$	44		$	(898	)

The following table presents the changes in our accumulated other comprehensive loss by component for the first three months of 2018 and 2017:



(Dollars in millions)	Currency Translation Adjustment			Defined Benefit Pension			Deferred Loss on Derivatives			Total
Balance at December 31, 2016	$	(1,614	)	$	13		$	(9	)	$	(1,610	)

Other Comprehensive Income before Reclassifications	63			—			—			63
Reclassifications	—			(20		)	—			(20		)
Net activity	63			(20		)	—			43

Balance at March 31, 2017	$	(1,551	)	$	(7	)	$	(9	)	$	(1,567	)

Balance at December 31, 2017	$	(1,484	)	$	(26	)	$	(9	)	$	(1,519	)

Other Comprehensive Income before Reclassifications	5			—			—			5
Reclassifications	—			—			—			—
Net activity	5			—			—			5

Balance at March 31, 2018	$	(1,479	)	$	(26	)	$	(9	)	$	(1,514	)

Defined benefit pension reclassifications relate to amortization of unrecognized net gains associated primarily with our supplemental executive retirement plan.