XML 52 R33.htm IDEA: XBRL DOCUMENT v3.8.0.1
Equity (Tables)
 12 Months Ended
Dec. 31, 2017
Equity [Abstract]  
Schedule of Dividend History
 
Year Ended December 31,
 
2017
 
2016
 
2015
Quarterly dividend rate
$
0.41

 
$
0.36

 
$
0.33

Annualized dividend rate
$
1.64

 
$
1.44

 
$
1.32

Dividends paid (in millions)
$
421

 
$
380

 
$
363
Schedule of Share Repurchases
Share repurchases were as follows: 
(in millions, except average price)
Year Ended December 31,
 
2017
 
2016
 
2015
Total number of shares purchased 1
6.8

 
9.7

 
10.1

Average price paid per share 2
$
147.74

 
$
113.36

 
$
99.00

Total cash utilized 2
$
1,001

 
$
1,097

 
$
1,000

1 
2017 and 2016 includes shares received as part of our accelerated share repurchase agreements as described in more detail below.
2 
In December of 2015, 0.3 million shares were repurchased for approximately $26 million, which settled in January of 2016. Excluding these 0.3 million shares, the average price paid per share was $98.98. Cash used for financing activities only reflects those shares which settled during the year ended December 31, 2017, 2016 and 2015 resulting in $1,001 million, $1,123 million and $974 million of cash used to repurchase shares, respectively.
Schedule of Redeemable Noncontrolling Interest Rollforward
Changes to redeemable noncontrolling interest during the year ended December 31, 2017 were as follows:
(in millions)
 
Balance as of December 31, 2016
$
1,080

Net income attributable to noncontrolling interest
127

Distributions to noncontrolling interest
(117
)
Redemption value adjustment
260

Balance as of December 31, 2017
$
1,350
Schedule of Changes in the Components of Accumulated Other Comprehensive Loss
The following table summarizes the changes in the components of accumulated other comprehensive loss for the year ended December 31, 2017:
(in millions)
Foreign Currency Translation Adjustment
 
Pension and Postretirement Benefit Plans 1
 
Unrealized Gain (Loss) on Forward Exchange Contracts 2
 
Unrealized Loss on Investment
 
Accumulated Other Comprehensive Loss
Balance as of December 31, 2016
$
(332
)
 
$
(443
)
 
$
2

 
—

 
$
(773
)
Other comprehensive income before reclassifications
93

 
30

 
9

 
(10
)
 
122

Reclassifications from accumulated other comprehensive loss to net earnings
—

 
11

 
(9
)
 
—

 
2

Net other comprehensive income
93

 
41

 
—

 
(10
)
 
124

Balance as of December 31, 2017
$
(239
)
 
$
(402
)
 
$
2

 
$
(10
)
 
$
(649
)
1 
See Note 7 — Employee Benefits for additional details of items reclassed from accumulated other comprehensive loss to net earnings.
2 
See Note 6 — Derivative Instruments for additional details of items reclassed from accumulated other comprehensive loss to net earnings.