Stockholders' Equity

6 Months Ended

Jun. 30, 2016

Equity [Abstract]

Stockholders' Equity

Note 13. Stockholders’ Equity

The following tables represent changes in stockholders’ equity that are attributable to our stockholders and non-controlling interests for the three and six months ended June 30, 2016 (in millions):

				Equity Attributable to Starwood Stockholders
								Accumulated						Equity
						Additional		Other						Attributable to
				Common		Paid-in		Comprehensive			Retained			Noncontrolling
	Total			Shares		Capital		Loss			Earnings			Interests
Balance at March 31, 2016	$	1,347		$	2	$	115	$	(645	)	$	1,872		$	3
Net income		(263	)		—		—		—			(263	)		—
Equity compensation activity and other		20			—		20		—			—			—
Dividends		(63	)		—		—		—			(63	)		—
Distribution of Vistana		(1,041	)		—		—		—			(1,041	)		—
Other comprehensive income		177			—		—		177			—			—
Balance at June 30, 2016	$	177		$	2	$	135	$	(468	)	$	505		$	3

				Equity Attributable to Starwood Stockholders
								Accumulated						Equity
						Additional		Other						Attributable to
				Common		Paid-in		Comprehensive			Retained			Noncontrolling
	Total			Shares		Capital		Loss			Earnings			Interests
Balance at December 31, 2015	$	1,299		$	2	$	115	$	(668	)	$	1,847		$	3
Net income		(173	)		—		—		—			(173	)		—
Equity compensation activity and other		18			—		20		—			(2	)		—
Dividends		(126	)		—		—		—			(126	)		—
Distribution of Vistana		(1,041	)		—		—		—			(1,041	)		—
Other comprehensive income		200			—		—		200			—			—
Balance at June 30, 2016	$	177		$	2	$	135	$	(468	)	$	505		$	3

Share Issuances and Repurchases. During the three and six months ended June 30, 2016, we issued less than 0.1 million of our common shares as a result of stock option exercises.

During the three and six months ended June 30, 2016, we did not repurchase any common shares. As of June 30, 2016, $458 million remained available under the share repurchase authorization approved by our Board of Directors. Under the terms of our merger agreement with Marriott, we are precluded from repurchasing our stock without their consent.

Dividends. During the three months ended June 30, 2016, we declared and paid approximately $63 million of dividends, or $0.375 per share, to stockholders of record as of May 20, 2016. For the six months ended June 30, 2016, we paid approximately $126 million of dividends, or $0.75 per share.

Distribution of Vistana.In connection with the Transactions, in the three and six months ended June 30, 2016, subsequent to the impairment discussed in Note 4, the net assets of our vacation ownership business were distributed to our stockholders and thereby treated as a reduction in retained earnings.

Accumulated Other Comprehensive Loss. The following table presents the changes in accumulated other comprehensive loss by component for the six months ended June 30, 2016 (in millions):

	For the Six Months Ended June 30, 2016 (a)
						Defined Benefit			Foreign
			Net			Pension and			Currency
	Cash Flow		Investment			Postretirement			Translation
	Hedges (b)		Hedges (e)			Benefit Plans (c)			Adjustments (d) (e)			Total
Balance at December 31, 2015	$	1	$	—		$	(79	)	$	(590	)	$	(668	)
Other comprehensive income (loss) before    reclassifications		—		—			—			(3	)		(3	)
Amounts reclassified from accumulated other    comprehensive income (loss)		—		(1	)		1			203			203
Total before tax		—		(1	)		1			200			200
Tax benefit (expense)		—		—			—			—			—
Net current year other comprehensive    income (loss)		—		(1	)		1			200			200
Balance at June 30, 2016	$	1	$	(1	)	$	(78	)	$	(390	)	$	(468	)

(a) Amounts in parentheses indicate debits.

(b) Pretax gains and losses on forward contract cash flow hedges are reclassified to management fees, franchise fees and other income.

(c) Pretax amortization of defined benefit pension and postretirement benefit plans is reclassified to selling, general, administrative and other.

(d) A loss of $7 million related to intra-entity foreign currency transactions that are of a long-term investment nature is included in other comprehensive income in the six months ended June 30, 2016.

(e) During the six months ended June 30, 2016 we recognized a loss of $202 million in the gain (loss) on asset dispositions and impairments, net line item due to the substantial liquidation of our investments in Italy.