Shareholders' Equity (Tables)

9 Months Ended

Sep. 30, 2020

Stockholders' Equity Note [Abstract]

Summary of shareholders' equity activity

The following tables summarize our shareholders’ equity activity for the three and nine months ended September 30, 2020 and September 30, 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
Comprehensive income (loss):
Net loss	—		—		—		(1,676)		—		(5)		(1,681)
Other comprehensive income	—		—		—		—		9		—		9
Cash dividends ($0.045 per share)	—		—		—		(40)		—		—		(40)
Stock plans	(3)		15		54		—		—		—		66
Other	—		—		—		—		—		(1)		(1)
Balance at June 30, 2020	$	2,666	$	125	$	(6,358)	$	9,098	$	(342)	$	7	$	5,196
Comprehensive income (loss):
Net loss	—		—		—		(17)		—		(2)		(19)
Other comprehensive income	—		—		—		—		2		—		2
Cash dividends ($0.045 per share)	—		—		—		(40)		—		—		(40)
Stock plans	—		(102)		222		—		—		—		120
Other	—		—		—		(54)		—		(2)		(56)
Balance at September 30, 2020	$	2,666	$	23	$	(6,136)	$	8,987	$	(340)	$	3	$	5,203

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
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
Comprehensive income (loss):
Net income	—		—		—		295		—		1		296
Other comprehensive income	—		—		—		—		—		—		—
Cash dividends ($0.18 per share)	—		—		—		(158)		—		—		(158)
Stock plans	—		50		40		—		—		—		90
Other	—		—		—		11		(1)		—		10
Balance at September 30, 2019	$	2,670	$	108	$	(6,480)	$	13,800	$	(353)	$	17	$	9,762

Schedule of comprehensive income (loss)

Accumulated other comprehensive loss consisted of the following:

Millions of dollars	September 30, 2020		December 31, 2019
Defined benefit and other postretirement liability adjustments	$	(203)	$	(214)
Cumulative translation adjustments	(84)		(82)
Other	(53)		(66)
Total accumulated other comprehensive loss	$	(340)	$	(362)