Shareholders' Equity

12 Months Ended

Dec. 31, 2012

Stockholders' Equity Note [Abstract]

Shareholders' Equity

Shareholders’ Equity

Shares of common stock

The following table summarizes total shares of common stock outstanding:

	December 31
Millions of shares	2012		2011		2010
Issued	1,073		1,073		1,069
In treasury	(144	)	(152	)	(159	)
Total shares of common stock outstanding	929		921		910

Our stock repurchase program has an authorization of $5 billion, of which $1.7 billion remained available at December 31, 2012. The program does not require a specific number of shares to be purchased and the program may be affected through solicited or unsolicited transactions in the market or in privately negotiated transactions. The program may be terminated or suspended at any time. From the inception of this program in February 2006 through December 31, 2012, we have repurchased approximately 96 million shares of our common stock for approximately $3.3 billion at an average price per share of $34.22. There were no stock repurchases under the program in 2012.

Preferred stock

Our preferred stock consists of five million total authorized shares at December 31, 2012, of which none are issued.

Accumulated other comprehensive loss

Accumulated other comprehensive loss consisted of the following:

	December 31
Millions of dollars	2012			2011			2010
Defined benefit and other postretirement liability adjustments (a)	$	(241	)	$	(208	)	$	(175	)
Cumulative translation adjustment	(69		)	(66		)	(66		)
Other	1			1			1
Total accumulated other comprehensive loss	$	(309	)	$	(273	)	$	(240	)

(a) Included net actuarial losses for our international pension plans of $208 million at December 31, 2012, $184 million at December 31, 2011, and $170 million at December 31, 2010.