Shareholders' Equity

3 Months Ended

Mar. 31, 2020

Stockholders' Equity Note [Abstract]

Stockholders' Equity

Shareholders’ Equity

The following tables summarize our shareholders’ equity activity for the three months ended March 31, 2020 and March 31, 2019, respectively:

Millions of dollars	Common Stock		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, 2019	$	2,669	$	143	$	(6,427)	$	11,989	$	(362)	$	13	$	8,025
Comprehensive income (loss):
Net Income (loss)	—		—		—		(1,017)		—		2		(1,015)
Other comprehensive income	—		—		—		—		11		—		11
Cash dividends ($0.18 per share)	—		—		—		(158)		—		—		(158)
Stock repurchase program	—		—		(100)		—		—		—		(100)
Stock plans	—		(33)		115		—		—		—		82
Other	—		—		—		—		—		(2)		(2)
Balance at March 31, 2020	$	2,669	$	110	$	(6,412)	$	10,814	$	(351)	$	13	$	6,843

Millions of dollars	Common Stock		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

Our Board of Directors has authorized a program to repurchase our common stock from time to time. During the three months ended March 31, 2020, under that program we repurchased approximately 7.4 million shares of our common stock for a total cost of $100 million. Approximately $5.1 billion remained authorized for repurchases as of March 31, 2020. From the inception of this program in February 2006 through March 31, 2020, we repurchased approximately 224 million shares of our common stock for a total cost of approximately $9.0 billion.

Accumulated other comprehensive loss consisted of the following:

Millions of dollars	March 31, 2020		December 31, 2019
Defined benefit and other postretirement liability adjustments	$	(214)	$	(214)
Cumulative translation adjustments	(82)		(82)
Other	(55)		(66)
Total accumulated other comprehensive loss	$	(351)	$	(362)