Additional Shareholders' Equity Information

12 Months Ended

Dec. 31, 2015

Additional Shareholders' Equity Information [Abstract]

Additional Shareholders' Equity Information

Note 17. Additional Shareholders’ Equity Information

Equity Offerings On March 3, 2015, we closed an underwritten public offering of 21 million shares of common stock, par value $0.01 per share, at a price of $47.50 per share. In addition, on March 25, 2015, we completed the issuance of an additional 3.15 million shares of common stock, par value $0.01 per share, in connection with the exercise of the option of the underwriters to purchase additional shares of common stock. The aggregate net proceeds of the offerings were approximately $1.1 billion (after deducting underwriting discounts and commissions and offering expenses). We used approximately $150 million of the net proceeds to repay outstanding indebtedness under our revolving credit facility and the remainder was used for general corporate purposes, including the funding of our capital investment program.

Activity in shares of our common stock and treasury stock was as follows:

	Year Ended December 31,
	2015		2014
Common Stock Shares Issued
Shares, Beginning of Period	402,329,325		399,841,717
Exercise of Common Stock Options	343,145		1,459,490
Restricted Stock Awards, Net of Forfeitures	1,847,802		1,028,118
Public Equity Offering	24,150,000		—
Shares Exchanged in Rosetta Merger	41,048,240		—
Shares, End of Period	469,718,512		402,329,325
Treasury Stock
Shares, Beginning of Period	37,635,890		37,600,051
Shares Received From Employees in Payment of Withholding Taxes Due on Vesting of Shares of Restricted Stock	490,744		254,888
Rabbi Trust Shares Distributed and/or Sold	(201,009	)	(219,049	)
Shares, End of Period	37,925,625		37,635,890

Accumulated other comprehensive loss in the shareholders’ equity section of the balance sheet included:

	Accumulated Other Comprehensive Loss
(millions)		Interest Rate  Cash Flow Hedges			Pension- Related and  Other			Total
December 31, 2012		$	(25	)	$	(88	)	$	(113	)
Realized Amounts Reclassified Into Earnings		1			12			13
Unrealized Change in Fair Value		—			(17		)	(17		)
December 31, 2013		(24		)	(93		)	(117		)
Realized Amounts Reclassified Into Earnings		1			11			12
Unrealized Change in Fair Value		—			15			15
December 31, 2014		(23		)	(67		)	(90		)
Realized Amounts Reclassified Into Earnings		1			62			63
Unrealized Change in Fair Value		—			(6		)	(6		)
December 31, 2015		$	(22	)	$	(11	)	$	(33	)

All amounts in the table above are reported net of tax, using an effective income tax rate of 35%.

AOCL at December 31, 2015 included deferred losses of $22 million, net of tax, related to interest rate derivative instruments. This amount will be reclassified to earnings as an adjustment to interest expense over the terms of our senior notes due March 2041.