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Stockholders' Equity
 3 Months Ended
Mar. 31, 2015
Stockholders' Equity Note [Abstract]  
Stockholders' Equity
Stockholders’ Equity 
Share Repurchase Program
In January 2014, the company's Board of Directors authorized a $5,000 share buyback plan that replaced the 2011 plan. In March 2015, the company purchased and retired 3.6 million shares in the open market which offset the dilution from employee compensation plans in the first quarter 2015. As of March 31, 2015, the company has purchased 33.7 million shares at a total cost of $2,282 under the plan. There is no required completion date for the remaining stock purchases.

Other Comprehensive (Loss) Income
A summary of the changes in other comprehensive (loss) income for the three months ended March 31, 2015 and 2014 is provided as follows:
 
Three Months Ended
Three Months Ended
Affected Line Item in Consolidated Income Statements1
 
March 31, 2015
March 31, 2014
 
Pre-Tax
Tax
After-Tax
Pre-Tax
Tax
After-Tax
 
Cumulative translation adjustment
$
(1,189
)
$
—

$
(1,189
)
$
(72
)
$
—

$
(72
)
See (4) below
Net revaluation and clearance of cash flow hedges to earnings:
 
 
 
 
 
 
 
Additions and revaluations of derivatives designated as cash flow hedges
(22
)
6

(16
)
38

(14
)
24

See (2) below
Clearance of hedge results to earnings:
 
 
 
 
 
 
 
Foreign currency contracts
(8
)
3

(5
)
1

—

1

Net sales
Commodity contracts
15

(6
)
9

17

(7
)
10

Cost of goods sold
Net revaluation and clearance of cash flow hedges to earnings
(15
)
3

(12
)
56

(21
)
35

 
Pension benefit plans:
 
 
 
 
 
 
 
Net (loss) gain
(4
)
1

(3
)
1

—

1

See (2) below
Effect of foreign exchange rates
100

(27
)
73

—

—

—

See (2) below
Reclassifications to net income:
 
 
 
 
 
 
 
Amortization of prior service (benefit) cost
(2
)
1

(1
)
1

—

1

See (3) below
Amortization of loss
209

(74
)
135

149

(51
)
98

See (3) below
Settlement loss
5

(2
)
3

—

—

—

See (3) below
Pension benefit plans, net
308

(101
)
207

151

(51
)
100

 
Other benefit plans:
 
 
 
 
 
 
 
Reclassifications to net income:
 
 
 
 
 
 
 
Amortization of prior service benefit
(52
)
19

(33
)
(53
)
19

(34
)
See (3) below
Amortization of loss
19

(7
)
12

14

(4
)
10

See (3) below
Other benefit plans, net
(33
)
12

(21
)
(39
)
15

(24
)
 
Other comprehensive (loss) income
$
(929
)
$
(86
)
$
(1,015
)
$
96

$
(57
)
$
39

 


1 
Represents the income statement line item within the interim Consolidated Income Statement affected by the pre-tax reclassification out of other comprehensive (loss) income.
2 
These amounts represent changes in accumulated other comprehensive loss excluding changes due to reclassifying amounts to the interim Consolidated Income Statements.
3 
These accumulated other comprehensive loss 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.
4 
The increase over prior year is primarily driven by the strengthening USD against the Euro and Brazilian real.




The changes and after-tax balances of components comprising accumulated other comprehensive 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 on Securities
Total
2015
 

 

 

 

 

 

Balance January 1, 2015
$
(1,016
)
$
(6
)
$
(7,949
)
$
262

$
2

$
(8,707
)
Other comprehensive (loss) income before reclassifications
(1,189
)
(16
)
70

—

—

(1,135
)
Amounts reclassified from accumulated other comprehensive loss
—

4

137

(21
)
—

120

Balance March 31, 2015
$
(2,205
)
$
(18
)
$
(7,742
)
$
241

$
2

$
(9,722
)

 
Cumulative Translation Adjustment
Net Revaluation and Clearance of Cash Flow Hedges to Earnings
Pension Benefit Plans
Other Benefit Plans
Unrealized Gain on Securities
Total
2014
 

 

 

 

 

 

Balance January 1, 2014
$
(140
)
$
(48
)
$
(5,749
)
$
494

$
2

$
(5,441
)
Other comprehensive (loss) income before reclassifications
(72
)
24

1

—

—

(47
)
Amounts reclassified from accumulated other comprehensive loss
—

11

99

(24
)
—

86

Balance March 31, 2014
$
(212
)
$
(13
)
$
(5,649
)
$
470

$
2

$
(5,402
)