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STOCKHOLDERS' EQUITY
 6 Months Ended
Jun. 30, 2020
Equity [Abstract]  
STOCKHOLDERS' EQUITY AND ACCUMULATED OTHER COMPREHENSIVE LOSS STOCKHOLDERS' EQUITY
Share Repurchase Program
On June 1, 2019, the Company's Board of Directors approved a new $2 billion share buyback program, which expires on June 1, 2021. During the second quarter of 2020, the Company did not repurchase any shares. At June 30, 2020, the Company had repurchased and retired 16.9 million shares under this program at a total cost of $982 million.

Accumulated Other Comprehensive Loss
The following table summarizes the activity related to each component of accumulated other comprehensive loss ("AOCL") for the six months ended June 30, 2020 and 2019:
Accumulated Other Comprehensive Loss
Unrealized Gains (Losses) on Investments
Cumulative Translation Adj
Pension and OPEB
Derivative Instruments
Total
In millions
2019
 
 
 
 
 
Balance at January 1, 2019 
$
(51
)
$
(3,785
)
$
(8,476
)
$
(82
)
$
(12,394
)
Other comprehensive income (loss) before reclassifications
68

(117
)
49

(43
)
(43
)
Amounts reclassified from accumulated other comprehensive income (loss)
(1
)
(18
)
142

(15
)
108

Net other comprehensive income (loss)
$
67

$
(135
)
$
191

$
(58
)
$
65

Spin-offs of Dow and Corteva
$
(16
)
$
3,179

$
8,196

$
139

$
11,498

Balance at June 30, 2019
$
—

$
(741
)
$
(89
)
$
(1
)
$
(831
)
2020
 
 
 
 
 
Balance at January 1, 2020
$
—

$
(1,070
)
$
(345
)
$
(1
)
$
(1,416
)
Other comprehensive loss before reclassifications
—

(54
)
(4
)
—

(58
)
Amounts reclassified from accumulated other comprehensive income (loss)
—

—

9

—

9

Net other comprehensive (loss) income
$
—

$
(54
)
$
5

$
—

$
(49
)
Balance at June 30, 2020
$
—

$
(1,124
)
$
(340
)
$
(1
)
$
(1,465
)


The tax effects on the net activity related to each component of other comprehensive income (loss) for the three and six months ended June 30, 2020 and 2019 were as follows:
Tax Benefit (Expense)
Three Months Ended June 30,
Six Months Ended June 30,
In millions
2020
2019
2020
2019
Unrealized gains (losses) on investments
$
—

$
—

$
—

$
(18
)
Cumulative translation adjustments
—

—

—

(1
)
Pension and other post employment benefit plans
3

(3
)
2

(35
)
Derivative instruments
—

(8
)
—

16

Tax expense from income taxes related to other comprehensive income items
$
3

$
(11
)
$
2

$
(38
)

A summary of the reclassifications out of AOCL for the three and six months ended June 30, 2020 and 2019 is provided as follows:
Reclassifications Out of Accumulated Other Comprehensive Loss
Three Months Ended
June 30,
Six Months Ended
June 30,
Income Classification
In millions
2020
2019
2020
2019
Unrealized gains on investments
$
—

$
—

$
—

$
(1
)
See (1) below
Tax expense (benefit)
—

—

—

—

See (2) below
After tax
$
—

$
—

$
—

$
(1
)
 
Cumulative translation adjustments
$
—

$
—

$
—

$
(18
)
See (3) below
Pension and other post employment benefit plans
$
5

$
—

$
8

$
167

See (4) below
Tax expense (benefit)
—

—

1

(25
)
See (2) below
After tax
$
5

$
—

$
9

$
142

 
Derivative Instruments
$
—

$
(7
)
$
—

$
(18
)
See (5) below
Tax expense
—

2

—

3

See (2) below
After tax
$
—

$
(5
)
$
—

$
(15
)
 
Total reclassifications for the period, after tax
$
5

$
(5
)
$
9

$
108

 
1. "Net sales" and "Sundry income (expense) - net."
2. "Provision for income taxes on continuing operations."
3. "Sundry income (expense) - net."
4. These AOCL components are included in the computation of net periodic benefit cost of the Company's defined benefit pension and other post employment benefit plans. See Note 17 for additional information.
5. "Cost of sales," "Sundry income (expense) - net" and "Interest expense."