Shareholders' Equity (Tables)

6 Months Ended

Jun. 30, 2019

Stockholders' Equity Note [Abstract]

Summary of shareholders' equity activity

The following tables summarize our shareholders’ equity activity for the three and six months ended June 30, 2019 and June 30, 2018, respectively:

Millions of dollars	Common Shares			Paid-in Capital in Excess of Par Value			Treasury Stock			Retained Earnings			Accumulated Other Comprehensive Income (Loss)			Noncontrolling Interest in Consolidated Subsidiaries			Total
Balance at December 31, 2018	$	2,671		$	211		$	(6,744	)	$	13,739		$	(355	)	$	22		$	9,544
Comprehensive income (loss):
Net income	—			—			—			152			—			—			152
Other comprehensive income	—			—			—			—			1			—			1
Cash dividends ($0.18 per share)	—			—			—			(157		)	—			—			(157		)
Stock plans	—			13			74			—			—			—			87
Other	—			—			—			—			—			(2		)	(2		)
Balance at March 31, 2019	$	2,671		$	224		$	(6,670	)	$	13,734		$	(354	)	$	20		$	9,625
Comprehensive income (loss):
Net income	—			—			—			75			—			2			77
Other comprehensive income	—			—			—			—			1			—			1
Cash dividends ($0.18 per share)	—			—			—			(157		)	—			—			(157		)
Stock repurchase program	—			—			(100		)	—			—			—			(100		)
Stock plans	(1		)	(166		)	250			—			—			—			83
Other	—			—			—			—			1			(6		)	(5		)
Balance at June 30, 2019	$	2,670		$	58		$	(6,520	)	$	13,652		$	(352	)	$	16		$	9,524

Millions of dollars	Common Shares			Paid-in Capital in Excess of Par Value			Treasury Stock			Retained Earnings			Accumulated Other Comprehensive Income (Loss)			Noncontrolling Interest in Consolidated Subsidiaries			Total
Balance at December 31, 2017	$	2,673		$	207		$	(6,757	)	$	12,668		$	(469	)	$	27		$	8,349
Comprehensive income (loss):
Net Income	—			—			—			46			—			1			47
Other comprehensive income	—			—			—			—			(2		)	—			(2		)
Cash dividends ($0.18 per share)	—			—			—			(158		)	—			—			(158		)
Stock plans	(1		)	15			113			—			—			—			127
Other	—			—			—			30			—			(2		)	28
Balance at March 31, 2018	$	2,672		$	222		$	(6,644	)	$	12,586		$	(471	)	$	26		$	8,391
Comprehensive income (loss):
Net Income	—			—			—			511			—			(3		)	508
Other comprehensive income	—			—			—			—			1			—			1
Cash dividends ($0.18 per share)	—			—			—			(158		)	—			—			(158		)
Stock plans	—			(97		)	201			—			—			—			104
Other	—			—			—			—			—			(3		)	(3		)
Balance at June 30, 2018	$	2,672		$	125		$	(6,443	)	$	12,939		$	(470	)	$	20		$	8,843

Schedule of comprehensive income (loss)

Accumulated other comprehensive loss consisted of the following:

Millions of dollars	June 30, 2019			December 31, 2018
Defined benefit and other postretirement liability adjustments	$	(203	)	$	(203	)
Cumulative translation adjustments	(82		)	(82		)
Other	(67		)	(70		)
Total accumulated other comprehensive loss	$	(352	)	$	(355	)