Stockholders' Equity

Description of Capital Stock

The Company has authorized share capital consisting of 750,000,000 shares of common stock, par value $.01 per share, and 1,000,000 shares of preferred stock, par value $0.01 per share.

Each share of common stock is equal in all respects to every other share of common stock of the Company. Each share of common stock is entitled to one vote per share at each annual or special meeting of stockholders for the election of directors and upon any other matter coming before such meeting. Subject to all the rights of the preferred stock, dividends may be paid to holders of common stock as and when declared by the Board of Directors.

The Company's charter requires that preferred stock must be all of one class but may be issued from time to time in one or more series, each of such series to have such full or limited voting powers, if any, and such designations, preferences and relative, participating, optional or other special rights or qualifications, limitations or restrictions as provided in a resolution adopted by the Board of Directors. Each share of preferred stock will rank on a parity with each other share of preferred stock, regardless of series, with respect to the payment of dividends at the respectively designated rates and with respect to the distribution of capital assets according to the amounts to which the shares of the respective series are entitled.

Share repurchases

On April 3, 2017, DXC announced the establishment of a share repurchase program approved by the Board of Directors with an initial authorization of $2.0 billion for future repurchases of outstanding shares of DXC common stock. An expiration date has not been established for this repurchase plan.

During the three months ended June 30, 2017, 250,000 shares of common stock were repurchased for aggregate consideration of $19 million (of which $6 million was accrued as of June 30, 2017) at a weighted average price of $77.39 per share. The shares repurchased are retired immediately and included in the category of authorized but unissued shares. The excess of purchase price over par value of the common shares is allocated between additional paid-in capital and retained earnings.

Accumulated other comprehensive income (loss)

The following table shows the changes in accumulated other comprehensive income (loss), net of taxes:



(in millions)	Foreign Currency Translation Adjustments			Cash Flow Hedges			Pension and Other Post-retirement Benefit Plans			Accumulated Other Comprehensive Income (Loss)
Balance at March 31, 2017	$	(458	)	$	20		$	276		$	(162	)
Current-period other comprehensive income (loss)	154			(3		)	—			151
Amounts reclassified from accumulated other comprehensive income	22			—			(4		)	18
Balance at June 30, 2017	$	(282	)	$	17		$	272		$	7



(in millions)	Foreign Currency Translation Adjustments			Cash Flow Hedges			Pension and Other Post-retirement Benefit Plans			Accumulated Other Comprehensive Loss
Balance at April 1, 2016	$	(399	)	$	(1	)	$	289		$	(111	)
Current-period other comprehensive loss	(50		)	(5		)	—			(55		)
Amounts reclassified from accumulated other comprehensive loss	—			—			(3		)	(3		)
Balance at July 1, 2016	$	(449	)	$	(6	)	$	286		$	(169	)