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Stockholders' Equity
 3 Months Ended
Mar. 31, 2013
Stockholders' Equity Note [Abstract]  
Stockholders' Equity
Stockholders’ Equity 
Share Repurchase Program
In December 2012, the company's Board of Directors authorized a $1,000 share buyback plan, subject to receiving the proceeds from the Performance Coatings divestiture. In February 2013, the company entered into an accelerated share repurchase (ASR) agreement with a financial institution under which the company used $1,000 of the proceeds from the sale of Performance Coatings for the purchase of shares of common stock. Under the terms of the ASR agreement, in February 2013, the company paid $1,000 to the financial institution and received and retired an initial delivery of 16.9 million shares, which represents 80 percent of the $1,000 notional amount of the ASR agreement. The purchase price per share and final number of shares retired will be determined using the volume-weighted average price of the company's common stock over the term of the ASR agreement. This share buyback plan will be completed in the second quarter 2013.

During the first quarter 2012, the company entered into an agreement with a financial institution in which the company paid $400 for the purchase of shares of common stock which were received in the second quarter 2012. During 2012, the company purchased and retired 7.8 million shares in connection with this agreement. These purchases completed the 2001 $2,000 share buyback plan and began purchases under the 2011 $2,000 share buyback plan authorized by the company's Board of Directors in April 2011. Under the completed 2001 plan, the company purchased a total of 42.0 million shares. Under the 2011 plan, the company has purchased 5.5 million shares at a total cost of $284 as of March 31, 2013. There is no required completion date for the purchases under the 2011 plan.











Other Comprehensive Income
A summary of the changes in other comprehensive income for the three months ended March 31, 2013 and 2012 is provided as follows:
 
Three Months Ended
Three Months Ended
Affected Line Item in Consolidated Income Statements1
 
March 31, 2013
March 31, 2012
 
Pre-Tax
Tax
After-Tax
Pre-Tax
Tax
After-Tax
 
Cumulative translation adjustment
$
(209
)
$
—

$
(209
)
$
170

$
—

$
170

 
Net revaluation and clearance of cash flow hedges to earnings:
 
 
 
 
 
 
 
Additions and revaluations of derivatives designated as cash flow hedges
(16
)
7

(9
)
(2
)
—

(2
)
See (3) below
Clearance of hedge results to earnings:
 
 
 
 
 
 
 
Foreign currency contracts
4

(1
)
3

(3
)
1

(2
)
Net Sales
Commodity contracts
(14
)
5

(9
)
(29
)
12

(17
)
See (2) below
Net revaluation and clearance of cash flow hedges to earnings
(26
)
11

(15
)
(34
)
13

(21
)
 
Pension benefit plans:
 
 
 
 
 
 
 
Net gain (loss)
56

(14
)
42

(23
)
3

(20
)
See (3) below
Prior service benefit
—

—

—

22

(7
)
15

See (3) below
Reclassifications to net income:
 
 
 
 
 
 
 
Amortization of prior service cost
3

(1
)
2

4

(1
)
3

See (4) below
Amortization of loss
241

(82
)
159

219

(75
)
144

See (4) below
Curtailment loss
1

—

1

—

—

—

See (4) below
Settlement loss
152

(45
)
107

—

—

—

See (4) below
Pension benefit plans, net
453

(142
)
311

222

(80
)
142

 
Other benefit plans:
 
 
 
 
 
 
 
Net gain
17

(6
)
11

—

—

—

See (3) below
Reclassifications to net income:
 
 
 
 
 
 
 
Amortization of prior service benefit
(48
)
17

(31
)
(30
)
11

(19
)
See (4) below
Amortization of loss
27

(9
)
18

22

(8
)
14

See (4) below
Curtailment gain
(154
)
54

(100
)
—

—

—

See (4) below
Settlement loss
1

—

1

—

—

—

See (4) below
Other benefit plans, net
(157
)
56

(101
)
(8
)
3

(5
)
 
Net unrealized (loss) gain on securities
(2
)
—

(2
)
1

—

1

 
Other comprehensive income (loss)
$
59

$
(75
)
$
(16
)
$
351

$
(64
)
$
287

 


1 
Represents the income statement line item within the interim Consolidated Income Statement affected by the pre-tax reclassification out of other comprehensive income (loss).
2  
These amounts are included in costs of goods sold and other operating charges.
3 
These amounts represent changes in accumulated other comprehensive income excluding changes due to reclassifying amounts to the interim Consolidated Income Statements.
4 
These accumulated other comprehensive income components are included in the computation of net periodic benefit cost of the company's pension and other long-term employee benefit plans. See Note 12 for additional information.








The changes and after-tax balances of components comprising accumulated other comprehensive income (loss) are summarized below:

 
Cumulative Translation Adjustment
Net Revaluation and Clearance of Cash Flow Hedges to Earnings
Pension Benefit Plans
Other Benefit Plans
Unrealized Gain (Loss) on Securities
Total
2013
 

 

 

 

 

 

Balance January 1, 2013
$
(167
)
$
3

$
(8,686
)
$
202

$
2

$
(8,646
)
Other comprehensive income before reclassifications
(209
)
(9
)
42

11

—

(165
)
Amounts reclassified from accumulated other comprehensive income (loss)
—

(6
)
269

(112
)
(2
)
149

Balance March 31, 2013
$
(376
)
$
(12
)
$
(8,375
)
$
101

$
—

$
(8,662
)

 
Cumulative Translation Adjustment
Net Revaluation and Clearance of Cash Flow Hedges to Earnings
Pension Benefit Plans
Other Benefit Plans
Unrealized Gain (Loss) on Securities
Total
2012
 

 

 

 

 

 

Balance January 1, 2012
$
(244
)
$
41

$
(8,276
)
$
(274
)
$
3

$
(8,750
)
Other comprehensive income before reclassifications
170

(4
)
(5
)
—

1

162

Amounts reclassified from accumulated other comprehensive income (loss)
—

(19
)
147

(5
)
—

123

Balance March 31, 2012
$
(74
)
$
18

$
(8,134
)
$
(279
)
$
4

$
(8,465
)